Intuit and the IBM/Banking Consortium Message Board

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Technology Stocks : Intuit and the IBM/Banking Consortium

INTU 669.88

-0.6%

Dec 30 3:59 PM EST

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To: don kramer who wrote (23)	1/28/1997 10:02:00 PM
From: Karl Kandell	of 25

Dan, You are correct that most of the revenue from electronic banking will be collected by the network or transaction processor and the company building it. Integrion will be a very lucrative venture for IBM. Look at the PE of IBM. Even at its all time highs lately, it still maybe a good buy. Don't totally discount Intuit though. Integrion at this point will reach 60 million consumers, and those who sign on will need some way to access this online banking network. A bank designed web front end will be one way and a PFM will be another. Intuit should see at least some small benefit from new sales to customers that want to do online banking on Integrion and choose Quicken. Banks may even buy Quicken from Inuit in bulk discount and resale to their consumers at a discount. PNC bank gives a discount for internetMCI to offer online banking. See biz.yahoo.com This would not necessarly make me buy INTU. I read the CEO wasn't satisfied with a putting green in his back yard like some of the other super rich. He had to buy his 3 neighbors houses and tear them down to put in a whole fairway for some ridiculous amount of money I can't recall. If he runs the company like this I am not impressed. Peter Lynch said some of his best stock picks were those with the most modest corporate headquarters. If management sucks and the product is great, someone should buy the company and throw management out. Who should do this, I don't know. INTU Price/Earnings terrible, Price/sales good, some buyout potential, growing total market for PFM's. IMO INTU is a hold. Karl

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