Kursverdoppelung bei Actua Corporation (vorm. Internet Capital)

Am 05.12.05 wurden von Libuda 100% Kursanstieg mit hoher Wahrscheinlichkeit angekündigt.
Ausgangskurs 7,84 USD
Kurs am Freitag 8,66 USD
Kursanstieg mithin 10,5%. Tja wohl in der Kommastelle geirrt.

Betrachten wir die Erstprognose vom 30.12.04 von Libuda noch einmal. Seine Erstempfehlung zu ICGE war ein Kurs von 9 USD (auch wenn er uns immer was anderes weiß machen will, zeig mir doch mal wo du bei Ariva bei 3,40 zum Kauf empfohlen hast) und dazu der Kommentar, das sich der Wert in einem Jahr verdoppeln oder
sogar verdreifachen wird. Das Resultat dieser Prognose ist sogar ein fettes Minus, obwohl nochmal 6 Monate draufgelegt wurden. Unter dem Strich ein Minus von 4%, also
auch hier ein Griff ins Klo. Ein Doppelversager sozusagen.
Mal sehen wo der Kurs zum 05.12.06 steht (Libuda: The sky is the limit).
 

Der Hatschi hätte sich ja auch noch einen höheren Kurs auswählen können, denn Internet Capital war über einen längeren Betrachtungszeitraum auch schon einmal teurer. Wie wär's mit 4280 oder 9,40, zu dem ich tatsächlich von den Stücken, die habe, im Herbst 2001 ein paar erworben habe.  

Re: LOL Frankie has had 20
by: flankenking
Long-Term Sentiment: Strong Buy  06/03/06 06:06 pm
Msg: 241236 of 241237

For Germans Only

Diese blöde deutsche Arschloch, das seit 2001 auf allen deutschen Kanälen und auch in den USA postet, weil es sein gesamtes Vermögen mit Commerce One verzockt hat, sollte endlich einen Psychater aufsuchen und nicht den Rest der Welt als Geisel nehmen. Das ist der unanständigste Verzocker weltweit, der hier seinen Frust abarbeitet, uns als Couch mißbraucht und die Leser um ihr sauer verdientes Geld bringt. Besonders kriminell ist seine Insolvenznummer - normalerweise gehört man fur so etwas in den Knast, denn es ist kriminell - weil es eine gezíelte Falschinformation ist. Der German-Verzocker versucht zu suggerieren, dass Internet Capital auf der Kippe stehe. Lesen wir daher einmal selber den lezten Quartalsbericht: "ICG’s corporate cash and short-term investment balance at March 31, 2006 was $123.0 million and the value of its public securities, including Blackboard, GoIndustry and Traffic.com, was $93.8 million." Dem steht noch eine Wandelschuldverschreibung von zuletzt 33,5 Millionen gegenüber. Dagegen versucht dieser Kotzbrocken dem Leser weiszumachen, dass Internet Capital wie zu seinen "Glanzzeiten" Schulden von 560 Million habe und nichts in der Kasse. Das war einmal als er sein Kohle mit Commerce One verzockt hat - und dort war es tatsächlich so. Vielleicht nimmt sich die SEC einmal diesen schlimmen deutschen Vogel, der das deutsche Nest extrem, unanständig und ekelhaft beschmutzt, einmal genauer vor.




 

Informations about the Core
by: flankenking
Long-Term Sentiment: Strong Buy  06/04/06 06:51 am
Msg: 241240 of 241240

of Internet Capital. Click the nine core and you will see: Companies with revenues (in the average more than 30 million,) best clients, a lot of employers (freeborders = 700, ICGCommerce =350, metastorm = 300, marketron = 250 ..........). Forget the bullshit of technic with her projections, he lives in past as an old, poor and ill man. Und vergessst auch den German-Verzocker, der uns hier als Couch missbraucht - und das alles nur, weil er sein Geld vor Jahren mit Commerce One um die Ecke gebracht hat.

http://www.internetcapital.com/partners-core.htm
 

Der Co-CEO von Freeborders sprach ja bereits im Februar dieses Jahres von einem nicht allzu fernen ersten Milliarden-IPO eines chinesischen IT-Dienstleister. Von der Höhe her war ich da ein wenig skeptisch gewesen und hatte zunächst eine Startmarktkapitalisierung des IPO von 500 Millionen für wahrscheinlicher gehalten - "mit einer nach oben offenen Richter-Skala" wie es bei Erdbeben so "schön" heißt.

Dass das Erdbeben für den Shortseller ganz nah ist, hatte ich ja in den letzten Tagen wiederholt prognostiziert und mich erstmals in dieser Hinsicht extrem weit aus dem Fenster gelehnt - allerdings mit guten Gründen, die immer stichhaltiger werden wie z.B. diese allerneueste Meldung von Freeborders, wo Internet Capital:


Freeborders and INVISTA Named Winners of Outsourcing Excellence Award; Prestigious Award Recognizes New Sales and Sourcing Platform for the Global Textile Industry

NEW YORK --(Business Wire)-- June 1, 2006 -- Freeborders, the leading provider of outsourcing solutions from China, and worldwide fiber manufacturer INVISTA have clinched this year's Outsourcing Excellence Award in the category of Best European collaboration (Best EU). Held annually by the Outsourcing Center and Forbes Magazine, the awards highlight nine distinct and exemplary outsourcing partnerships from across the globe. This is the first time an outsourcer from China has received an Outsourcing Excellence Award. The 2006 Outsourcing Excellence Awards will be held in New York City on July 26.



The award recognizes the successful development and ongoing operation of FASTEXTILE.com, an interactive online sales platform for textile mills to market fabrics directly to garment vendors, brands and retailers anywhere in the world. FASTEXTILE addresses the challenge of rapidly changing global sourcing patterns and fragmentation of the supply chain, in addition to facilitating fabric selection for brands and retailers, and helping textile mills win new business.

Freeborders used its strategy of onshore project management in both Europe and the US, coupled with offshore development at its Shenzhen, China facilities to complete the project three weeks ahead of schedule. The new platform was launched in the US, Europe and Asia Pacific and over 700 brand and retail companies, registered in the first five weeks. The platform ultimately connected 600 textile manufacturers in 40 countries to over 1,000 brands and retailers worldwide.

The Outsourcing Center is the premier resource for outsourcing information and networking. It specializes in thought leadership, best practices and the promotion of innovation in outsourcing. The Best EU category focuses specifically on the greatest achievements in outsourcing collaboration in Europe, in this case the FASTEXTILE sourcing service links design flair with fabric availability around the world. Previous Outsourcing Excellence winners include Accenture, Avendra and Hewlett-Packard.

"This distinguished award comes at a time of continued growth for both Freeborders and the Chinese IT market as a whole. It is a great honor to be the first outsourcing provider in China to be recognized for delivering quality services to major global clients," said Mike Keating, Freeborders managing partner. "It is an affirmation of the cost benefits and business value of leveraging China's skilled resources and a global delivery infrastructure."

"The scope of this project and the timeframe that we needed to accomplish it in were critical factors in undertaking this partnership with Freeborders," said Norman Beveridge, INVISTA apparel manager. "Freeborders has delivered a comprehensive solution that has linked 1,000 INVISTA customers across the globe."

About Freeborders

Freeborders is a leading provider of technology solutions and outsourcing from China. Freeborders provides industry expertise to North American and European companies in financial services, technology, retail/consumer goods, manufacturing and transportation & logistics. Headquartered in San Francisco with offices on three continents, Freeborders has developed a track record of service delivery to the Fortune 1000 by combining world-class project management in both hemispheres with one of the largest technology centers in China. Freeborders believes China's massive and growing supply of IT talent and the country's emerging importance in the global supply chain make China a strategic imperative for any company seeking cost-effective world-class

 

Neben Freeborders ist vor einiger Zeit einer der feinsten Wagnisfinanzierer der Welt eingestiegen, wenn es um IT-Technologie geht:

http://www.ftventures.com/partners/index_partners.html

Die 38 Finanzinstitute, die die Eigner von ftventures sind, sind nun wirklich vom Feinsten.  

Wenn Ihr heute handeln könnt, würde ich an Eurer Stelle handeln, wenn Ihr einen Einstieg erwägt.

Shortseller-Knock Out from the 8 best
by: flankenking
Long-Term Sentiment: Strong Buy  06/04/06 06:46 pm
Msg: 241258 of 241258

Read about first 8 = shortseller-knock-out

After a jump from 1,7 to 2,5 million shares next shortposition will be between 3 and 4 million shares = 10% of the outstanding share. But institutionals held 58%, management held 5% and flankenking held 15,000 shares. Free Float is less than 37% and 10% of the shares are shorted and the fundamentals are excellent.

Very important are the greatest eight private held core companies of Internet Capital:

Freeborders www.freeborders.com
is the leader in IT-Offshoring in China, revenues in 2006 = 35 million (estimate), growth-rate = more than 100%, fair (competitors) multiple = 12, worth = 420 million, 33% (Internet Capital owns) = 140 million

ICGCommerce www.icgcommerce.com
is the worldwide greatest Pure Play in procurement-outsourcing, revenues in 2006 (e) = 40 million, growth-rate = 25%. fair (competitors) multiple = 5, worth = 200 million, 76% (Internet Capital owns) = 152 million

Starcite www.starcite.com
is the worldwide greatest marketplace/booking-system for meetings, revenues in 2006 (e) = 25 million, growth-rate = 70%, fair (competitors) multiple = 10, worth = 250 million, 61% (Internet Capital owns) = 156 million

Creditrade www.credittrade.com
is one of two biggest two interdealer brokers in the credit derivatives market, revenues in 2006(e) = 65 million, growth rate = 50%, fair (competitors) mulitple =9 =585 million, 27% (Internet Capital owns) = 156 million

Metastorm www.metastorm
is worldwide greatest Pure Play in Business Process Management, revenues in 2006(e) = 40 million, growth rate = 25%, fair (competitors) multiple = 4.5 = 180 million, 42% (Internet Capital owns) = 76 million

Marketron www.marketron.com
is the leading provider of broadcast management systems, revenues in 2006 (e) = 30 million, growth rate = 10%, fair (competitors) multiple = 3.5 = 105 million, 38% (Internet Capital owns) = 40 million

Investorforce www.investorforce.com
InvestorForce is a technology company specializing in the delivery of revenue and efficiency generating business solutions to the institutional investment community. InvestorForce serves a broad array of over 500 institutional investment clients, including money managers, consultants, plan sponsors, and institutional investors. InvestorForce is unique in its ability to offer an online technology platform that integrates data, analytics and reporting for both traditional asset class products and hedge funds. Altvest was acquired by InvestorForce in 1999 and since that time InvestorForce has enhanced Altvest by incorporating its leading technology developed for the institutional investment community. Altvest is the largest available online hedge fund database of active managers, products and datapoints, revenues in 2006 (e) = 6 million, growth rate = 50%, fair (competitors) multiple = 8 = 48 million, 80% (Internet Capital owns) = 38 million

Emptoris www.emptoris.com
Supply management vendor Emptoris and partner contract management vendor diCarta are merging. Emptoris will now have approximately 360 employees and nearly 150 customers. Revenues of Emptoris are 120 million in 2006, fair (competitors) multiple = 4.5 = 540 million, 5% (Internet Capital owns) = 27 million


Only the best eight of the 18 private held companies of Internet Capital have a worth of 140 + 152 + 156 +156 + 76 + 40 + 38 + 27 million = 785 million. You must add to the 785 million the worth of other 10 private held companies and a net cash/marketable securites of 180 million.

Compare with the market cap of Internet Capital of today of 330 million. Internet Capital is the most undervalued stock of the NASDAQ and this result in a P/E of 5, the lowest of an internet-stock worldwide  
 

stecken, die nach der Steigerung von 1,7 Millionen Aktien auf 2,5 Millionen Aktien sich jetzt zwischen 3 und 4 Millionen leer verkaufter Aktien bewegen dürften, die sie schon verkauft haben, aber noch nicht haben und noch kaufen müssen. Ein Kurssprung ist vorprogrammiert und er kann jederzeit eintreten - wer daher heute handeln kann, sollte heute handeln.

Denn shorten gegen gute Fundamentals ist idotisch und ohne Aussicht auf Erfolg.

Ein Beispiel:


Im ersten Vierteljahr hat Internet Capital 36% von VCommerce erworben - ein exzellenter Kauf und Schnäppchen ohne Grenzen.

Vcommerce Achieves SAS 70 Type II Certification
Monday June 5, 8:30 am ET
Vcommerce Helps Clients Succeed in Complying with Sarbanes-Oxley and Provides Assurances on IT Controls


SCOTTSDALE, Ariz.--(BUSINESS WIRE)--June 5, 2006--Vcommerce, the market leader in on-demand commerce and fulfillment solutions, announced today that it has successfully completed a Statement on Auditing Standards No. 70 (SAS 70) Type II audit of its online ecommerce service by KPMG, a nationally recognized public accounting firm. This certification helps Vcommerce clients reduce the risks and costs associated with meeting Sarbanes-Oxley and other audit requirements. It also distinguishes Vcommerce as a provider of secure and reliable ecommerce services with solid internal controls and business processes.
ADVERTISEMENT


The SAS 70 is an internationally-recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA) and a Type II certification, which is the most rigorous, validates that the service provider has completed an in-depth analysis of its information technology and related processes. The SAS 70 report is often used by public companies to meet Sarbanes-Oxley (SOX) Section 404 compliance requirements and by other companies who are planning on going public, preparing to be acquired or who wish to adopt best-practice principles.

"We are finding that as more and more of our clients fall directly or indirectly under the influence of SOX Section 404, that a SAS 70 report is increasingly valuable, if not a prerequisite, to meeting our clients' needs," said Dan Clarke, CEO of Vcommerce. "It also represents our commitment to providing the next level of service and IT security for our clients, who can be confident that the Vcommerce service operates under reasonable controls and is compliant with evolving regulatory mandates."

"This SAS 70 certification reaffirms our recent decision to acquire a significant stake in Vcommerce," adds Michael Zisman, Managing Director, at Internet Capital Group (Nasdaq: ICGE - News), a major Vcommerce investor. "Our expertise is identifying and supporting technologies that help streamline and automate business processes and reduce transaction costs between firms. We anticipate that Vcommerce clients will be able to extract significant value through this increased compliance, not only in the form of reduced audit costs, but also in the ability to leverage this added control and visibility to improve the efficiencies of their ecommerce operations."

About Vcommerce

Vcommerce is the market leader in on-demand commerce and fulfillment solutions for multi-channel retailers and direct-to-consumer companies of all types. With nearly a decade of experience, Vcommerce counts two of the top three fastest-growing online retailers among its clients and has integrated thousands of suppliers and processed over $1 billion in goods for such leading merchants as Target, Overstock.com, eToys Direct, David's Bridal and MTV Networks. Headquartered in Scottsdale, Ariz., Vcommerce is SAS 70 Type II certified. The company is privately held, and its investors include Internet Capital Group, Inc. (Nasdaq: ICGE - News). For more information, please visit www.vcommerce.com or call 480.922.9922.

© 2006 Vcommerce Corporation. All rights reserved. Vcommerce is a registered trademark of Vcommerce Corporation. Any other company or product names mentioned herein are the trademarks of their respective owners.




 

Noch macht er was er will.Er könnte wohl viel weiter runter,das sieht man deutlich.Warum er das nicht macht ist mir ein Rätsel.  

Vcommerce erzielt Dämpfungsregler 70 Art II Bescheinigung; Vcommerce Hilfen Klienten folgen, mit, mit Sarbanes-Oxley einzuwilligen und stellen Versicherungen auf IHM steuert zur Verfügung         SCOTTSDALE, Ariz. --(GESCHÄFT LEITUNG)--5. Juni 2006--Vcommerce, der Marktführer im on-demand Handel und in den Erfüllunglösungen, heute verkündet, daß er erfolgreich eine Aussage auf Art II Bilanz der Revisionsnorm-Nr. 70 (Dämpfungsregler 70) seines on-line-ecommerce Services durch KPMG durchgeführt hat, eine national anerkannte allgemeine Wirtschaftsprüfungsfirma. Diese Bescheinigung hilft Vcommerce Klienten, die Gefahren und die Kosten zu verringern, die mit Sitzung Sarbanes-Oxley und anderen Bilanzanforderungen verbunden sind. Sie unterscheidet auch Vcommerce als Versorger der sicheren und zuverlässigen ecommerce Services mit festen internen Kontrollen und Geschäft Prozessen.    Der Dämpfungsregler 70 ist eine international-anerkannte Revisionsnorm, die vom amerikanischen Institut der Wirtschaftsprüfer (AICPA) entwickelt wird und eine Art II Bescheinigung, die das rigoroseste ist, validiert, daß der Diensterbringer eine eingehende Analyse seiner Informationstechnologie und bezogenen Prozesse durchgeführt hat. Der Dämpfungsregler 70 Report ist durch Aktiengesellschaften häufig benutzt, Sarbanes-Oxley (SOX) zu entsprechen Befolgunganforderungen des Abschnitts 404 und durch andere Firmen, die auf der gehenden öffentlichkeit planen und sich vorbereiten erworben zu werden, oder die Gutpraxis Grundregeln annehmen möchten.    „Wir finden, daß wie von unseren Klienten unter den Einfluß von SOX Abschnitt 404 immer mehr direkt oder indirekt fallen, ist der ein Dämpfungsregler 70 Report, wenn nicht eine Vorbedingung, zum Erfüllen der Bedürfnisse unserer Klienten,“ sagte Dan Clarke, CEO von Vcommerce in zunehmendem Maße wertvoll. „Er stellt auch unsere Verpflichtung zum Zur Verfügung stellen des folgenden Niveaus des Services und ER Sicherheit für unsere Klienten dar, die überzeugt sein können, das der Vcommerce Service unter angemessenen Kontrollen laufen läßt und ist gefällig mit dem Entwickeln der regelnden Vollmacht.“    „Diese Dämpfungsregler 70 Bescheinigung versichert unsere neue Entscheidung nochmals, um eine bedeutende Stange in Vcommerce zu erwerben,“ hinzufügt Michael Zisman, geschäftsführender Geschäftsführer, an der Internet-Hauptgruppe (Nasdaq: ICGE), ein HauptVcommerce Investor. „Unsere Sachkenntnis ist, stützend kennzeichnend und Technologien, die Geschäft, Prozesse zu glätten und zu automatisieren helfen und Verhandlungkosten zwischen Unternehmen zu verringern. Wir nehmen vorweg, daß Vcommerce Klienten werden extrahieren bedeutenden Wert durch diese erhöhte Befolgung, nicht nur in Form von verringerten Bilanzkosten, aber auch in der Fähigkeit, diese addierte Steuerung und Sicht wirksam einzusetzen, um die Leistungsfähigkeiten ihrer ecommerce Betriebe zu verbessern.“    Über Vcommerce    Vcommerce ist der Marktführer in den on-demand Handel- und Erfüllunglösungen für Mehrkanaleinzelhändler und Verweisen-zuverbraucher Firmen aller Arten. Mit fast einer Dekade der Erfahrung, zählt Vcommerce zwei der oberen drei schnell-wachsenden on-line-Einzelhändler unter seinen Klienten und hat Tausenden Lieferanten integriert und verarbeitet über $1 Milliarde in den Waren für solche führende Kaufleute, die zielen, verweisen Overstock.com, eToys, Braut- und MTV Netze Davids. Hauptsitz gehabt in Scottsdale, ist Ariz., Vcommerce Dämpfungsregler 70 Art II bestätigt. Die Firma wird privat gehalten, und seine Investoren schließen Internet Capital Group, Inc. mit ein (Nasdaq: ICGE). Zu mehr Information www.vcommerce.com oder Anruf 480.922.9922 bitte besuchen.    (c), Vcommerce 2006 Corporation. Alle Rechte vorbehalten. Vcommerce ist ein geschütztes Warenzeichen von Vcommerce Corporation. Alle mögliche anderen Firma- oder Produktnamen, die hierin erwähnt werden, sind die eingetragenen Warenzeichen ihrer jeweiligen Inhaber.          KONTAKT: Vcommerce Corporation, ScottsdaleBrenda Everett, 480-922-9921               beverett@vcommerce.com        QUELLE: Vcommerce Corporation  

Internet Capital hält 29%.

eCredit and NACM Business Credit Services, Utah Announce Strategic Alliance
— Alliance To Offer Credit and Collections Professionals Increased Access to World-Class Solutions —

DEDHAM, Mass. and Sandy, UT Jun 6, 2006 — eCredit, the leading provider of online solutions for credit and collections professionals, today announced that it has entered into a strategic alliance with NACM Business Credit Services of Sandy, Utah. eCredit and NACM Business Credit Services of Utah, the NACM national affiliate serving business credit professionals in Utah, Idaho, Wyoming and Nevada, have partnered to present companies with a powerful tool set for more effective management of their credit and collections operations. Under the terms of the partner program, eCredit will empower NACM Business Credit Services, Utah to provide value-added risk and receivables management software and credit reporting solutions to its members.

"NACM Business Credit Services, Utah is very excited to be offering our members powerful credit and collections tools from eCredit," said Dean Wangsgard, CCE, President, NACM Business Credit Services, Utah. "eCredit's market-leading credit and collections software and credit reports are certain to help our network of credit professionals deal with the challenges they face as they manage accounts receivable-often one of the largest assets on an organization's balance sheet."

eCredit provides a suite of solutions designed to help businesses of any size, in any industry, optimize their credit and collections operations, lowering DSO and bad debt and reducing overall portfolio risk. eCredit's flexible credit scoring and collections automation software and industry-specific credit reports drive departmental efficiencies and ensure the accuracy and predictability of credit decisions on new and existing customers. As a reseller of eCredit software and credit reports, NACM Business Credit Services, Utah will be offering these specific solutions directly to its members.

"NACM Business Credit Services, Utah is the latest in a growing number of NACM affiliates to recognize the value in partnering with eCredit," said Jeff Dickerson, eCredit President and CEO. "We here at eCredit look forward to working cooperatively with this group to bring the benefits of our solutions to an even greater number of companies."



About NACM Business Credit Services, Utah
NACM Business Credit Services is a member owned association established in 1901. They have been providing the commercial credit industry credit related products and services for over 100 years. Our membership is comprised of manufacturers, wholesalers, financial institutions, and service companies throughout the intermountain west. They are an affiliate of the National Association of Credit Management in Columbia, Maryland. They are a primary resource of credit information and education for our members. Our services include Business Credit Reports, Industry Credit Groups, Collections, Mortgage Credit Reports and Education.



About eCredit
eCredit is the leading provider of online solutions for credit and collections professionals. Its award-winning on-demand software supports the mission critical processes of granting credit, monitoring portfolio risk, and collecting accounts receivables. eCredit also offers a comprehensive industry specific credit reporting and scoring solution that includes tens of millions of trade experiences on millions of companies, developed as a result of 14 years of credit management leadership. With deep roots in the credit and collections community, eCredit has continually demonstrated results by helping companies reduce bad debt and DSO while improving productivity and lowering costs. eCredit is a private company headquartered in Dedham, Massachusetts. Major clients include AB Electrolux, American Airlines, Chevron, Cisco, Ferguson, Samsung Electronics, Cargill, NEC Financial, Graybar, CDW, Sun Microsystems, and Ryder System. For more information, please visit www.ecredit.com.

eCredit.com and the eCredit.com logo are registered trademarks.

 

And ICGCommerce is Nr. 1 in this market (won 26% of new contracts), than IBM with 24%, next Accenture (16%) and Ariba (15%). Internet Capital owns 76% of Internet Capital.


The Procurement BPO Wave Swells with More Players and Double-Digit Growth Through 2010, IDC Finds
FRAMINGHAM, Mass.--(BUSINESS WIRE)--June 8, 2006--According to a newly released IDC study, interest in procurement business process outsourcing (BPO) is at an all-time high as the worldwide procurement BPO market continues to grow. IDC estimates that the worldwide procurement BPO market reached $627 million in 2005, and will expand at a five year compound annual growth rate (CAGR) of 22.3% to reach $1.7 billion by 2010. The study reveals that growth in customer spending is accompanied by a more crowded and diverse competitive landscape, with more aggressive activity coming from newer entrants such as services procurement BPO providers and Indian offshore BPO providers.


"Procurement BPO is quickly coming into its own as one of the fastest-growing horizontal opportunities within the global BPO market, and has become accepted as a strategic business tool to help companies achieve competitive positioning and growth objectives," said Shruti Yadav, analyst for BPO Services at IDC. "IDC predicts a continuing trend of double-digit market growth and an increasingly diverse base of adopters. All the same, vendors need to be prepared for long sales cycles, an exacting buyer base, mounting expectations, and ever-increasing competition."

The study finds that the Americas region currently hosts the largest share of spending in the global procurement BPO market, with the U.S. driving an overwhelming majority of spending in the region. The EMEA region is the second-largest contributor of market spending, followed by Asia/Pacific.

From a vertical perspective, the majority of procurement BPO spending will continue to be driven by a few industries, such as manufacturing, financial services, retail, and utilities. In addition, the study reveals the potential for experimental adoption of procurement BPO in verticals such as non-profit and government.

"The ability to grow and sustain share in this market will depend on depth of procurement domain expertise, global presence and delivery capabilities, ability to successfully manage outsourcing relationships, and demonstration of the actual business impact of Procurement BPO," Yadav added. "Vendors should continue efforts to substantiate and quantify the business impact of procurement outsourcing to the customer as well as the broader market."

The study, Worldwide and U.S. Procurement BPO 2006 - 2010 Market Forecast and Analysis (IDC #201603), provides a five-year forecast for the worldwide and U.S. procurement business process outsourcing (BPO) services market. The study identifies and quantifies the market opportunity for service providers, key demand and supply trends, and reviews 2005 and Q1 2006 deal activity influencing the market. The study also presents essential guidance and strategies for service providers in order to establish and expand their service mixes and competitive positioning.

About IDC

IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. Over 850 IDC analysts in 50 countries provide global, regional, and local expertise on technology and industry opportunities and trends. For more than 42 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about


 

CDS market exploded to $ 12 trillions

The CDS marketplace has exploded to more than $12 trillion in trading value over the past few years. It is our plan to expand our use of this model and, in doing so, to continue to bring new CDS products to market. Headquartered in London, and works in New York and Singapore too, Credittrade is one of the great interdealer brokers (IDB) of credit derivatives.

Internet Capital owns 27% of Credittrade.  
 

und CreditTrade im speziellen informieren möchte, sollte hier einmal nachlesen.

http://derivate.fbv.uni-karlsruhe.de/downloads/...waps-20060510YG.pdf

Internet Capital hält bei Credittrade 27%.

Interessant ist auch das Marktvolumen, das für 2004 in der Studie der Uni Karlsruhe genannt wird: 4 Billiarden.

In meinem vorausgehenden Posting war das Marktvolumen für 2005 mit 11 Billarden angegeben. Somit hat sich in 2005 das Marktvolumen mehr als verdoppelt.  

CDS market exploded to $ 12 trillion

CreditTrade’s Dual Approach (Part 1)

An innovative approach to the brokerage business in the CDS market comes from
CreditTrade, who complements its voice brokerage by an electronic trading platform. The
electronic system offers a platform where dealers could enter quotes or hit existing quotes
directly. This is a hit-and-take system where trades are triggered by dealers without using
the voice broker. Thus, CreditTrade charges a slightly lower commission for interdealer
trades accomplished via its electronic platform compared to those executed by the voice
brokers. This dual approach to CDS trading offers the dealers a choice between two
trading venues which differ with respect to trading costs, level of trade execution
services, and market transparency. Unfortunately, there is no available electronic
brokerage data that could be used for analyzing the determinants of this choice. However,
we expect the following in this hybrid market structure.
As argued before, the higher commissions charged for voice broking are due to the
services supplied beyond the pure transactional service provided by the electronic trading
system. The extent to which voice broking is used will vary depending on trade size,
trade complexity, market conditions, and CDS features such as currency. While the larger
and more complex trades are left with the voice broker, the electronic system is used for
easier and smaller sized transactions in the most widely traded CDS currencies like USD
and EUR. However, if the volatility of the underlying market increases or the CDS
market is exposed to asymmetric information, then dealers will be less willing to have
their orders revealed on electronic quotation and will prefer trading via the voice broker.
Under these market conditions the IDBs can offer greater liquidity because their market
provides access to a wide range of institutions that supply liquidity. CreditTrade talks to
up to fifty institutions in each region, i.e. London, New York and Singapore, with about
twenty banks being the core set of liquidity suppliers. The two trading venues offer also a
choice between different regimes of market transparency. For example, traders with
private information prefer the voice brokerage system with less transparency. But also
uninformed traders would choose dealing through the voice brokers under conditions of
asymmetric information because the IDB is able to certify them as uninformed which
results in trades at better prices.


 

The 11 champions kill the shortseller

Read about first 11 = shortseller-knock-out

After a jump from 1,7 to 2,5 million shares next shortposition will be between 3 and 4 million shares = 10% of the outstanding share. But institutionals held 58% management held 5%and flankenking held 15,000 shares. Free Float is less than 37% and 10%-15% of the shares are shorted and the fundamentals are excellent.

Very important are the greatest 11 private held core companies of ICG:

Freeborders is the Leader in IT-Offshoring in China, revenues in 2006 = 35 million (estimate), growth-rate = more than 100%, fair (competitors) multiple = 12, worth = 420 million, 33% (ICGE owns) = 140 million

ICGCommerce is the worldwide greatest Pure Play in procurement-outsourcing, revenues in 2006 (e) = 40 million, growth-rate = 25%, fair (competitors) multiple = 5, worth = 200 million, 76% (ICGE owns) = 152 million

Starcite is the worldwide greatest marketplace/booking-system for meetings, revenues in 2006 (e) = 25 million, growth-rate = 70%, fair (competitors) multiple = 10, worth = 250 million, 61% (ICGE owns) = 156 million

Creditrade is one of two biggest two interdealer brokers in the credit derivatives market, revenues in 2006(e) = 65 million, growth rate = 50%, fair (competitors) mulitple =9 =585 million, 27% (ICGE owns) = 156 million

Metastorm is worldwide greatest Pure Play in Business Process Management, revenues in 2006(e) = 40 million, growth rate = 25%, fair (competitors) multiple = 4.5 = 180 million, 42% (ICGEl owns) = 76 million

Marketron is the leading provider of broadcast management systems, revenues in 2006 (e) = 30 million, growth rate = 10%, fair (competitors) multiple = 3.5 = 105 million, 38% (ICGE owns) = 40 million

InvestorForce is a technology company specializing in the delivery of revenue and efficiency generating business solutions to the institutional investment community. Altvest was acquired by InvestorForce in 1999 and since that time InvestorForce has enhanced Altvest by incorporating its leading technology developed for the institutional investment community. Altvest is the largest available online hedge fund database of active managers, products and datapoints. Revenues in 2006 (e) = 6 million, growth rate = 50%, fair (competitors) multiple = 8 = 48 million, 80% (ICGE owns) = 38 million

Supply management vendor Emptoris and partner contract management vendor diCarta are merging. Emptoris will now have approximately 360 employees and nearly 150 customers. Revenues of Emptoris are 120 million in 2006, fair (competitors) multiple = 4.5 = 540 million, 5% (ICGE owns) = 27 million

Vcommerce™ is the leading provider of proven on-demand commerce and fulfillment solutions. Our clients include some of the world’s most recognized brands. Revenues in 2006 = 25 million (e), fair (competitors) multiple = 3.5 = 87 million, 36% (ICGE owns) = 31 million

eCredit is the leading provider of online solutions for credit and collections professionals. Revenues in 2006 = 15 millions (e), fair (competitors) muliple =5 = 75 million, 29% (ICGE owns) = 22 million

WhiteFence is the leading one-stop comparison shopping marketplace that helps consumers compare and order essential home services such as electricity, gas, phone, cable and satellite TV, high-speed Internet, change of address, newspapers, insurance and banking, revenues in 2006 = 15 million (e), growth-rate = 80%, fair mulitple = 4 = 60 million, 39% (ICGE owns) = 23 million


Only the best eleven of the 18 private held companies of Internet Capital have a worth of 140 + 152 + 156 +156 + 76 + 40 + 38 + 27 + 31 + 22 + 23 million = 861 million. You must add to the 816 million the worth of other 7 private held companies and a net cash/marketable securites of 180 million.

Compare with the market cap of Internet Capital of today of 330 million. Internet Capital is the most undervalued stock of the NASDAQ and this result in a P/E of


 

Oh Gott der Short-seller reitet sich immer tiefer in die Scheisse( hahaha an Libuda den Flankenking). Kurse unter 8 USD, das geht doch nicht mit rechten Dingen zu. Wo bleibt da das BAFIN und die SEC. Libuda, einschreiten, da wird Kursmanipulation von feinsten betrieben und du sagst nichts dazu. Protest! Nachkaufen!  

auch wenn das nicht mehr wie vor eingier Zeit bei 3,40 Dollar geht, aber auch 7,70 Dollar sind ein guter Einstandspreis. Und wie man heute in Frankfurt an den Umsätzen gesehen hat, war da ein gewisser Libuda sicher nicht ganz inaktiv - aber nicht nur der. Sehr viel billiger als zu Kursen zwischen 6,20 und 6,28 wird man da auch morgen nicht reinkommen. Vom Prinzip her habe ich mein Pulver heute verschossen und mit jetzt 15.500 Stück eigenlich auch genug. Aber wenn in Frankfurt morgen ganz günstige Preise wie heute kommen, die wesentlich besser sind als die Ami-Preise, garantiere ich für nichts - aber aus Gründen der Risikostreuung geht nicht mehr allzuviel.

Daher mein Rat, den ich mir die ganze Zeit noch nicht leisten konnte, weil ich in Frankfurt auch noch ein paar Stücke kaufen wollte. Geht morgen massiv rein. Denn wenn ihr ein wenig rechnet könnt, kommt Ihr auf ca. 216 Miillonen, die die an ´Cash und marktgängigen Wertpapieren haben. Dann haben sie noch 33 Millionen ausstehenden Wandelschuldverschreibungen, die allerdings höher als 100% notieren - macht ca. 40 Millinen. Somit verbleibt ein Nettocash/Wertpapier von ca. 175 Millionen Dollar. Bei einer Marktkapitalisierung von momenantan 300 Millionen müssen somit nur 125 Millonen durch die 18 nicht an der Börse notierten Beteiligungen angedeckt werden.

Aber jeder der vier wertvollsten Beteiligungen (ICGCommerce, CreditTrade, Freeborders und Starcite) schafft das schon allein.

Ob Ihr morgen in Frankfurt trotz solcher extremer Unterbewertung vor mir Ruhe habt, weiß auch nicht. Aber ganz so schlimm wird es nicht werden, denn sehr viel geht bei mir nicht mehr. Aber bei sehr günstigen Preisen würde ich meine Guthaben auch schon einmal auf Null herunterfahren. So was mache ich eigentlich fast nie und muss schon von enormen Chancen überzeugt sein.  

um ICGE Nachschlag zu holen.Spätestens am Freitag schlage ich zu, 500-1000 Stück.  

Er markiert wieder sein Dasein ( z.B.45/55 )damit ja keine Zweifel aufkommen,dass er den Kurs macht wie er will.


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Time B/S Shares  Price    

13:49:40.366 B 100  8.0300  

13:49:37.494 B 100  8.0200  

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13:33:58.902 B 84  8.0000  

13:33:58.721 S 16  8.0000  

13:33:57.085 S 84  8.0000  

13:33:57.085 S 16  8.0000  

13:33:57.085 S 200  8.0000  

13:33:45.843 S 200  8.0000  

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13:31:57.534 S 55  8.0000  

13:31:57.534 S 45  8.0000  

13:26:51.694 S 55  8.0000  

13:26:51.694 S 45  8.0000  

13:21:20.375 S 55  8.0000  

13:21:20.375 S 45  8.0000  

13:16:50.103 S 55  8.0000  

13:06:42.583 S 100  8.0000
 

denn er garantiert einen Kurs, der erheblich unter dem Fair Value und dem langfristigen Kurs liegt - und daher sollte man einkaufen, solange der Shortseller so hilfreich ist.  

er handelt wohl im Konsens mit der Unternehmensführung, denn sonst wäre das Risiko für ihn zu hoch.

Vermutlich weiß er, dass der IPO von Freeborders erst in der zweiten Jahreshälfte läuft. Und auch das Management profitiert vom Shortseller, denn die können billig einkaufen - auch wenn der letze Einkauf vom Buckley sicher nur Peanuts waren.

Aber ein Schluss ist auch klar: Wenn der CEO für 8,40 Dollar einkauft, sollte man auch diesen Preis nutzen.  

wurde gestern klar:

http://www.internetcapital.com/pdf/presentations/annualmtg2006.pdf

Einfach einmal durchlesen.

Bemerkenswert ist die Aussage, dass von den neun Kernbeteiligungen inzwischen 5 ein positives Ebitda haben und zwei, nämlich ICGCommerce und Starcite inzwischen in der Gewinnzone sind.

Allein die ca. 160 Millionen Nettocash und der Wert der 76% an ICGCommerce sind somit höher als die gestrige Marktkapitalisierung von 315 Millionen - die restlichen 17 Private Helds gibt es gratis. Rätselhaft ist daher, warum ein Shortseller seit zwei Jahren Abermillionen damit verpulvert, den Kurs nicht gar zu schnell steigen zu lassen. Die eigentliche rationale Erklärung wäre, dass hier eine Übernahme geplant ist, die nicht zu teuer werden soll. Gegen diese Erklärung spricht, dass das die Gesetze eigentlich nicht zulassen: Wer ein Übernahme plant und im Vorfeld versucht die Kurse zu drücken würde nach der Gesetzeslage von der SEC belangt werden müssen. Nach den strengen Verurteilungen der letzten Zeit schließe ich daher diese einzige weitgehend rationale Erklärung weitgehend aus. Ich tippe daher eher auf Irrationales: Bis vor zwei Jahren konnte man mit dem Shorten von Internet Capital extrem viel Kohle machen - und jetzt versucht es einer, der von dem vielen Kohle machen süchtig geworden ist, halt weiter. So wie beim Automatspielen - und da müssen wir eben warten bis er die Goldene Serie wieder in den Automat geworfen hat, sprich beim Shorten wieder verzockt hat.  

IPO or Merger of ICGCommerce


is possible at once. But I believe, Internet Capital don't want do so, because they had a lot of cash and ICGCommerce growth from day to day. An ipo at once could have a market cap between 200-250 million. In 2007 the market cap of an ipo of ICGCommmerc could be 300-350 million. I believe, Sarbanes-Oxley is so expensive, that a private held company is in advantage - therefor ipo's come later (by higher ipo-market caps) as in earlier times.

In the Annual Repot of yesterday we could read about ICGCommerce:

"Provides procurement outsourcing services to the Fortune 1000.

Customers include Avaya, Cooper Cameron, Crown
Holdings, Delta Airlines, Goodyear, Greif, Timken and Vought.

Reported strong annual revenue growth in 2005; contracted year-end backlog increased more than 100% to $60 million.

In the first quarter of 2006, reported net income and strong revenue growth versus the prior year.

In total, ICG Commerce manages approximately $6 billion of spend for corporations and on average saves them 11%."


We have revenues of 40-50 million in 2006, a high growth rate and first in the history of ICGCommerce a net income. A fair value are 5 times revenues = 225 million. The 76% of Interet Capital a worth 176 milllion.

Only the worth one of 18 private held companies and the net cash/securities of 160 million a higher than the market capitalisation of 315 milliion of yesterday. The other 17 private held companies are free of charge.


 

aus vielerlei Gründen:

1. Pro Aktie existiert eine Nettocash/Akien von 4,50 Dollar.


2. Im Gegensatz zu früher arbeitet man inzwischen fast zu 100% mit Einkapital.Im Gegensatz zu früher 560 Millionen ausstehendeer Wandelschuldverschreibungen nähert man sich hier langsam dem Wert Null. Von den zum 30.3.2006 noch vorhandenen 33,5 Millinen wurden weitere 10,4 Millionen inzwischen zurückgezahlt, wie man dem gestern veröffentlichen Bericht über die Aktionärsversammlung entnehmen kann "Subsequent to quarter-end we repurchased $10.4 million of 5% convertible notes." Die ausstehende Restschuld aus der Wandelschuldverschreibung beträgt somit nur noch 23 Millionen - was im Vergleich zu 560 Millionen Welten sind. Hinzu kommt, dass dem ca. 175 Millionen bzw. wenn man die Aktien von GoIndustry mitrechnet (die vermutlich erst ab 2007 gehandelt werden dürfen) 200 Millionen an Cash und handelbaren Wertpapieren gegenüber stehen. Ich gehe davon aus, dass sie weitere Stücke von den 23 Millionen Wandelschuldverschreibung zurückkaufen - Cash haben sie ja genügend und bei einem IPO kämen weitere Cash bzw handelbare Wertpapiere hinzu. Der Rückkauf hat den Vorteil, dass die Aktienzahl nicht steigt. Bleibt der Aktienkurs noch einige Zeit niedrig, hätte das den Vorteil, dass man die restlichen 23 Millionen Wandelschuldverschreibung günstiger zurückkaufen kann und danach eventuell sogar einen Aktienrückkauf starten könnte. Letzterer macht aber nur Sinn, wenn das Kursniveau noch eine Weile so bleibt. Meines Erachtens würde es Sinn machen, da jetzt schon zu beginnen - aber offensichtlich ist das Management davon überzeugt noch bessere Investitionsmöglichkeiten zu haben als einen Rückkauf. Meines Erachtens könnte man aber relativ probemlos einmal 10% der Aktien, ist ca. 3,9 Millionen Stück, in den nächsten Wochen zurückkaufen. Das würde ca. 30 bis 40 Million kosten - man hatte aber das Fünffache an liquiden Mitteln.

3. Wir haben 21 Beteiligungen - also eine Streuung, auch wenn man einschränkend betonen muss, dass neben der hohen Cash die sechs größten Wertbringer Starcite, ICGCommerce, Freeborders, CreditTrade, Metastorm und Blackboard für 80% und mehr des Wertes stehen,