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  • jms_linn jms_linn Sep 6, 2009 5:44 PM Flag

    Bad Baidu News on Techcrunch, WSJ, Barorns, more

    BIDU has shrewd management:

    1) CFO died under mysterious circumstances
    2) Ties with bogus medecinal companies
    3) Failed to repurchase BIDU stock after $200M
    approval by its board (even when stock traded
    below $110).

    BIDU had opportunities to provide legal music downloads (after GOOG formed partnerships with various music companies) BUT chose NOT to follow suit.

    BIDU's management knew that the millions of illegal music downloads cost the company nothing AND provided BIDU with substantial ad revenue.

    BIDU's management also knew that by changing its policy to discontinue/prevent illegal music downloads will cause a precipitous drop in "searches" on the BIDU site.

    The recent announcement by the China Ministry of Culture to crackdown on music piracy may/will change BIDU's music download policies with drastic negative effect to the comapny's bottom line.

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