12/28/05

The Legend of the three Kingdoms
Episode 3, The site and the King

The salty and wet story teller



Prelude
Some two thousand years ago, we had the famous three kingdoms in central China. Many heroic and romantic stories have been written and handed down through the generations. In recent time we may also have the situation of "The Three Kingdoms" again, and they are Hong Kong, Taiwan and China....

Episode 3--- The site and the king

While the people in the Kingdoms of C and T are embittered by Far Leng Kung and presidential election politics, the smart people in the Kingdom of H are busy with the only important thing in life---making money.

The big commotion in the Kingdom of H these days surrounds the remarkable public debut of Tom.com. Just when you thought you'd seen everything, when you'd become accustomed to seeing companies with no profits generating huge stock-market valuations, along comes Tom.com: a company with no company. With a lame website and vague plans to improve it, Tom.com put 42.8 million shares on the market last week. They were oversubscribed 669 times. The
appeal: the "company" is controlled by well-connected property tycoon, the King of real estate holdings and now emperor of the SITE.

And so, dear lighters, Rumbling the mighty Long River flows east Washing all heroic deeds into the sea.....

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