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(Continued)     August 21, 2004 edition
In addition, consumers can set up e-mail sale alerts for key items and stores. ShopLocal fills a gap that reflects a disconnect in how the Internet is used today: online purchases represent less than 5 percent of retail transactions, while the Internet influences more than $130 billion in consumer spending at stores. And with every $1 spent online, consumers are influenced by the web to spend another $6 offline.

In other news, late Wednesday afternoon, the SEC announced that Google's IPO was rendered effective. This means that Google could now set its share price and begin selling shares to the public the next trading day. The decision meant Google had cleared one of the last major hurdles ahead of its highly anticipated IPO. The search engine company still needed to set the price, which was expected to be between $85 and $95 a share, according to documents filed Wednesday with the SEC.

Shares could begin trading as soon as Thursday. "Google has been declared effective with regard to their IPO," Amy Best, an SEC spokeswoman said Wednesday shortly after the stock market closed.

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