Intuit -- What's Its Future? Message Board

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Technology Stocks : Intuit -- What's Its Future?

INTU 670.57

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11:49 AM EST

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To: PeterR1700 who wrote (606)	9/19/1997 9:57:00 AM
From: TLindt	of 1546

Intuit does not controll Checkfree...If you go over to the Checkfree thread...I believe the first post I made over there layed out ownership percentages of Checkfree. Of the 54mm shares floating on Checkfree nearly 50% are held by the "BIG BOYS." One on the guys on the Checkfree thread is Bob Gintel.....per his Filing on a SEC 13 document shows Gintel Asset Managment has 2,272,100 or about 5.5% of Checkfree....or a nearly $50,000,000 riding on an E-Commerce outcome. You might go over his posts on Checkfree thread just to see where he's thinking. What I've been able to farret out is this....... The Banks preceive MicroSoft as a threat to their existing operations. I Believe over there on that Checkfree thread one of the Guys, might have been Gintel quoting Bill Gates as saying that Banks are Dinasaurs.<sp> For all that Bill Gates is, he's not a salesman. I personally feel that the Banks do not Trust the Man. That was stated in the recent confrence call by Checkfrees' management. Intuit has already tried to get into E-Commerce thing from what I understand. And they were trying to do the entire round trip. Their software talks to Intuit Services which inturn talks to the Banks & Vendors. There is only so much a Small Company can do, they started on this venture and at some point it became evident to management they were becomming the "JACK OF ALL TRADES AND MASTER OF NONE." The primary benefit to Intuit in the Checkfree deal is Cutting Edge E-Commerce processing abilities without the hassel of creating them inhouse....and then selling all the Banks which Checkfree already has under contract into using Intuits Stuff. By spinning off Intuit Services 2 things happened; 1. They Don't have to spend any more money/time developing the needed software for Backend processing. The key in that statement is TIME. 2. They eliminated a Competitor by partnering, and gained a Big Friend in the process. Checkfrees simple intentions.... They don't want their products promoted for their Brand Names or abilities. They're not trying to be known! They just want to provide their services to Banks...in the background....unseen and unknown to the end user. As far as the Banks' Customer knows it's just a wonderfull new service. Checkfree values and respects the special relationship the Bank has built with THEIR Customers. Now take that and compare it to Bill Gates. You can then see why so many Financial Institutions currently prefer to deal with Checkfree. Beside the fact that MicroSoft doesn't have some of the Key Software even developed yet. Checkfree was also asked during their confrence call specifically how the realtionship with Intuit was going. Management stated that they were teaching the Fellows over to Intuit how to better get along with the Banks. That's duplication, which is powerfull! Hey if you Fellows just do what we did, you'll have what we have! Shortens the learing curve....comes back to TIME. Why is TIME important....cause it's already happening....as we speak. It's gonna RAMP UP for years to come, and if these two little PO-DUNK Companies...get hit by that Freight Train, they'll make the History Books!

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