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View Full Version : interesting article with Garth in it ~~BRIAN READ THIS~~ lol



Chris Gaines
06-21-2000, 05:35 PM
Wednesday June 21 03:16 PM EDT
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<br>Old World Discovers New World's Market Woes
<br>(The Industry Standard)
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<br>Europe might not hold Garth Brooks in high regard, but the continent is not immune to all U.S. weaknesses. For proof, look at EuropAtWeb's decision to scrap its IPO this week.
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<br>EuropAtWeb, a private investment group owned by French luxury-goods magnate Bernard Arnault, has almost exhausted its original investment pool of $478 million on a portfolio of 40 European startups. The IPO, which had been scheduled for next month, would have offered a $670 million boost to the company's coffers. On Monday, the company announced that it had indefinitely postponed the offering, citing "market conditions."
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<br>EuropAtWeb has invested broadly in the Internet sector, in businesses such as Internet service provider Liberty Surf and auction site QXL. The company also has a minority stake in The Standard. But the company has suffered from the recent market fallout. One of its most complex projects, online-financial-services provider Zebank, had to delay its launch because of security issues. Also, the company's early investment in the defunct retailer Boo.com has become infamous.
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<br>The pullback should give pause to the host of U.S. firms descending on the fledging European VC market, for two reasons. First, EuropAtWeb's decision is by no means unusual - other dot-com ditherers in recent weeks include Dutch broadband provider Chello and Swedish auction site LetsBuyIt.com.
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<br>That could affect the prospects of venture capitalists as a whole, according to Keith Arundel, a director at PricewaterhouseCoopers' global technology group in London. But due to the weakness in the market for technology stocks, venture capitalists have been less keen to use the equity markets as an exit, preferring instead to wait for a recovery in values. "There are fewer and fewer companies going to market, and it is very difficult for us to predict when the market will regain its confidence," he said.
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<br>Secondly, and more importantly, as the number of good deals shrinks, venture capitalists will find European markets every bit as tough as those back home. "U.S. firms often see Europe as a place where deal flow is less tough," says Arundel. "But they are going to find it difficult to find good homes for their money."
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<br>The amount of money brought over by U.S. venture capital firms is increasing sharply. According to PwC, the total investment in technology firms across Europe hit $23.9 billion in 1999, and $5.7 billion of that originated in the U.S. This year, the figure will increase tenfold. Dell Ventures, a division of Dell Computer, alone will invest $5.7 billion in European startups this year. Traditional venture capitalists, including CMGI, Benchmark and Softbank, have launched venture funds worth tens of billions of dollars.
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<br>But EuropAtWeb isn't the only investment firm affected by the market conditions. Durlacher, one of the U.K.'s best performing stocks of 1999, has seen its value plummet by 75 percent and is now in negotiations with German investment bank VMR to broker a merger or acquisition.
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<br>This malaise will spread, and U.S. firms could find themselves hit hardest, says Rene Schuster, CEO of consumer industries at KPMG in London. "There will be massive consolidation," he predicts. "Companies won't survive without the volume of deals to back it up."
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<br>While the U.S. funds might have deeper pockets than their European counterparts, this doesn't guarantee them first bite of the apple, says Arundel. "U.S. funds need to cope with the complexity of tax differences, fund regulations and cultural issues," he says.
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<br>All of which could leave U.S. venture funds all dressed up with nowhere with go.
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<br>Copyright (c) 2000 The Industry Standard
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<br>N

Pilgrim
06-22-2000, 03:33 AM
Hmmm, I am not sure, but what does this have to do with Garth??:rolleyes:
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<br>Brian;)N

angelamccann
06-22-2000, 03:51 AM
It mentions him at the beginning, Brian. That's it!
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<br>Jason, you read some weird stuff :)
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<br>Angela x
<br>(also in Europe, though of course the UK doesn't do a lot of things in line with the rest of Europe, like - oh, speed limits - sorry, Jason, but you know I can't resist bringing that one up at every opportunity!)N

zulu
06-22-2000, 05:54 AM
Jason,
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<br>Very interesting and very true article.
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<br>I think the author just got one thing wrong:)
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Europe might not hold Garth Brooks in high regard
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<br>I think he's got that the other way round. It should of read
" GARTH BROOKS MIGHT NOT HOLD EUROPE IN HIGH REGARD:)
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<br>I'm sure Brian will agree with me huh :P
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<br>Zulu:P:PN

angelamccann
06-22-2000, 06:22 AM
Zulu, as someone in the UK I get the impression Garth isn't exactly jumping at the prospect of coming back here :(
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<br>I'm seriously considering getting together a collection for Paula Yates (who interviewed him in 1994 and I hear it's one of his - ahem - *favourite* interviews) to emigrate to the US and see if that encourages him to come over here!
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<br>Angela xN

Pilgrim
06-22-2000, 03:28 PM
Zulu
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<br>I totally agree:):):):)
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<br>Angela
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<br>I totally agree with you as well:):):)
<br>I was furious when I saw the clips from that interview:mad::mad:
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<br>When I think about what she did to Michael Hutchence I could also fear for Garth:(
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<br>BrianN

angelamccann
06-27-2000, 11:18 AM
I wouldn't worry about it if I were you, Brian :)
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<br>If Garth could have gotten any further away from her on that bed without falling off the side he would have!
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<br>And to think when he did that interview I was passing by not 500 yards away on my way to work - Garth, I'm sorry, I didn't know, I was young and stupid then. If I'd known I'd have sprinted across East London to rescue you!
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<br>Angela xN

Pilgrim
06-27-2000, 01:19 PM
Angela
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<br>That doesn't matter for me;);)
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<br>I have dictated the death penalty over her;);)
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<br>BrianN