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Technology Stocks : CheckFree (CKFR)
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To: raymond marcotte who wrote (766)11/23/1997 9:25:00 AM
From: Brooks Jackson  Read Replies (2) of 8545
 
Ray:

I agree with you that CKFR is speculative, for the reasons you outlined. It's still a money-losing company.

But, consider:

--The economies of scale in e-bill and e-pay are well-established and enormous.

--CKFR has the best product and the best track record in this exploding business (I've been paying bills via CKFR for years)

--CKFR is losing money as a company only because it is still absorbing the cost of buying out its main competition, Intuit's failed billpay service.

--The core business is enormously profitable. Banks pay about $4 per customer per month, and it costs CKFR about $2 per customer per month to service those customers.

--CKFR is hitting all its targets, and if it continues to do so will hit break-even within six months.

--Banks are pushing e-pay like crazy. It's their loss leader. Here in Washington DC Nationsbank has TV ads on featuring a smiling 20-something woman demonstrating how easily she pays her bills (by CKFR, of course.)

--CKFR is thumping its competition. Intuit is gone. Integrion -- once a potential competitor -- has run up the white flag. The unholy alliance of Microsoft and First Data is still selling vaporware -- or trying to sell it, to customers who don't trust Bill Gates.

Give me more speculations like this one
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