Filed Under: , , Tickers in this Article: VRAZ, COMV, PCS, SCR,
CNK, OCNF, OREX, EDN, VRUS, V, LULU, GS, MS, MER Initial Public
Offerings - they're one of the most misunderstood investments
available. In theory, they provide growth capital for private
businesses. In reality, they often do little more than line the
pockets of those who got in before the regular investors could -
the owners, the founders, directors and CEOs. They call this the
"exit" strategy.  IPOs, along with other cash-out options such
as selling to another company, are a cornerstone of investment
banking. Wall Street firms receive generous fees for finding
investors to buy the shares made available in the IPO. In most
cases, founders and other company elites put some or all their
stock into the offering. It's great for them, not so great for
the buyers of the IPO. (To learn the investment bank's role in
an IPO, read The Rise Of The Modern Investment Bank.)  By The
Numbers Nine companies went public in April 2007. Here's a table
showing each