Tuesday, October 09, 2007
The turning point for eLong
Business blog Seeking Alpha's Shane Farley is convinced that the hiring of Chinese born Guangufu Cui as the new CEO is just what eLong need to reinvigorate its campaign to take on Ctrip and to bolster its comparatively flagging share price. Farely provides some interesting financial analysis of eLong particularly pointing out that while eLong has not been matching Ctrip's profitability growth it is sitting on a cash pile of $156mm and no debt. That plus a new boss, Farely argues, should be enough to help be competitive again. More of the article here.