New US Economy Policy Message Board

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Strategies & Market Trends : New US Economy Policy

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To: Arthur Tang who wrote (111)	2/7/1998 4:46:00 AM
From: Arthur Tang	Read Replies (1) of 435

The new economy and the financial services having to reform? Reforming the financial services is in the making. Central planning has been changing the way Wall street does business. Earnings now drive value. Potential drives P/E ratios. Stock picking is out of fashion; dig in and refocus and re-engineer the company invested is the order of the day. Most company still improving productivity due to computer automation. Microsoft's "Microsoft market software" shrank their purchasing department from 14 people to 2. Internet call center does the sales and marketing and help desk (tech support) without any fuss. This (computer efficiency) will soon go over to the insurance company. Many already started to change over their software and reduce head count as well as reduce overhead for more profitability. Such new found wealth will be invested in land development and further earnings projections. Banks are finding debit cards are more profitable than check cashing service which goes thru central bank (the FEDS) which slow things down. When network creates a giant interbank fast communications, payments will be done cheaper thru debit cards. Internet will be the network someday for worldwide banking with secured virtual lan, which excludes tempering. T3 virtual lan cards with SSA or fibre channel will soon be available. Other small institutions such as remortgagers, non-bank credit card services, traveller check services, etc., will all go through computer automation revolution. It has started, but it will take a few more years to sort out our directions and consolidate the network concepts; to go on to internet virtual lan (T3 communication services) and avoid private networks and intranets. The new economy will then reach its zenith by proper as well as faster secured communication.

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