SFNB, Security First Net. Bank Message Board

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Technology Stocks : SFNB, Security First Net. Bank

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To: Kevin A. Lynch who wrote (197)	8/7/1997 5:09:00 PM
From: Box-By-The-Riviera™	of 507

as of yet...the bank has no real value, i would agree..... and is a negative if it doesn't pay for itself and drains operating capital... i think they over reached themselves..... and wachovia for example has a vested interest in seeing them survive....especially now that wachovia is dependent upon them for the internet ramp up....and also was there supporting them pre IPO..... wachovia's management would have a lot of explaining to do before the wachovia board if things don't work out..... they need these banking interests not only to suport them....but perhaps direct them .... it remains to be seen how this will shape up... one would hope however, that this banking consortium, if it begins to play a larger role in the management/strategy of this company...does just that in a sensible way....rather than getting in the way of progress and therefore causing more harm than good...in spite of the money they are throwing in.... there is a danger here of stodgy non-creative old time banking interests getting in the way of progressive creative thinking...something this software idea still contains.... my reaction to management is based upon my preception that ego's became more important than changing the business plan....that the vision was farther away than the reality could support....and lastly, that their rather carefree approach to the qterly conferences thus far is a poor performance at best.....as well as their general handling of the investment side of the business as a public company.... such lack of professionalism is a negative for me...and one that can sometimes translate down to the organization....the last thing they need as a start up..... if bodies start turning over....and i'm not seeing that yet per se....that would be a very bad sign... keeping morale high at this company should be primary... if they began to turn the corner.... then i would take a second look in the context of the internet build out of the banking industry at that time.... but it's not that time yet at least for me.... joel

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