S1: Doing Business in a Dot Com Depression, -V1 Message Board

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Technology Stocks : S1: Doing Business in a Dot Com Depression, -V1

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To: Kevin A. Lynch who wrote ()	1/23/2000 11:14:00 AM
From: Doug (Htfd,CT)	Read Replies (1) of 1013

Citigroup listed with "sharks" in NYT article re insurance industry consolidation. Given its close alliance with SONE, this raises interesting questions about the impact of financial services "convergence" upon the market for SONE's insurance products under development. Mergers and acquisitions in the insurance industry will accelerate the consolidation of the insurance industry, according to Joseph Treaster's article in the Sunday New York Times for 1/23/00. Treaster quotes David D'Alessandro, the President/COO of John Hancock as saying that "its getting down to the eaters and the eatees." He points to the Congress' elimination of the long-standing legal barriers between banking, brokerage and insurance. Efficiency is one goal of such mergers, says Treaster, citing company strategies of running two or more merged companies with the management team of one. He quotes Jeff Sawyer, in charge of insurance at Deloite Consulting: "Within the next five years, you are going to see a dramatically smaller number of American insurance companies." At the time of this writing, the article was available in the online archives at nyt.com . The story, titled "Going Public Amid Sharks" includes a list of 19 public companies the Times nominates as "sharks," "predator or prey" and as "bait," and discusses which are more likely to eat and which to be eaten. Half of the "sharks" listed are banks or stock brokers. The technological issues were not mentioned, but seem obvious issues if a consolidator seeks increased efficiency. This NYT article is also a subject of a discussion thread at Port4.com Doug Port4.com - a free port for dot com pioneers "Virtual bull sessions" about e-business, e-finance and e-insurance at port4.com

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