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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 226.10+2.5%Nov 24 3:59 PM EST

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To: Bill Harmond who wrote (156918)5/4/2003 8:44:43 PM
From: Glenn D. Rudolph   of 164684
 
I did want to comment on an issue that has nothing directly to do with Amazon. The "corruption" in the brokerage industry in the late 1990s was incredible. I believe you had told me Morgan Stanley was well respected and the highest of ethics. No, I cannot locate the post nor make the time. I will say not a one of the major firms had any ethics at all. The analysts were just as bad if not worse. The recent settlement and fines is a silly farce. The amount of fines was far less that the huge financial gains these firms reaped from dishonesty. In addition, the management and analysts kept their pay and bonuses. The small fines levied really come out of the pockets of the stock holders of these firms anyhow.

As you know, the below story is just one of many.

nytimes.com

I hope everyone on this thread has been doing well, is in good health, etc. I hope to be able to spend more time here again by the early spring of 2004. I really intented to semi-retire by now but I created an on-line monster as well and will not step out until I know it will run well without me. We are currently building a "Jewelry Super Store" which will be complete by November. My plan is t move the Meadville geographic retail operation as well as our on-line operation into our new facility in January 2004. Then it is time for me to slow down and smell the flowers etc.:-) Talk to everyone later.

Glenn
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