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Non-Tech : E*Trade (NYSE:ET)

ET 16.45

-2.5%

Nov 7 9:30 AM EST

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To: Phil Tran who wrote ()	5/15/2000 2:01:00 PM
From: SLSUSMA	Read Replies (1) of 13953

Not exactly a vote of confidence in the WitCapital deal: Message 13712507 Message 13712268 Message 13712231 Message 13712212 Message 13712171 Message 13712754 Message 13712544 If what each of these WitCapital customers saying about having multiple accounts are true (some guy claimed to have 12), then let's assume that on average, each WITC customer has 3 accounts (low estimate). So E*Trade paid $20 million for 33k new customers. Works out to be about $600 per new customer, assuming no defections. However, if the SI WITC customers are any indication, sounds like there will be some account closings. Now the deal doesn't look as plump...

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