E*Trade-CBS MarketWatch Clarification...
The following appears to be a clarification of the interview/article set out in my previous post. I think it is perhaps wise to realize that not all attempts at communication with the media come out 100% correct.
Steve Gelsi, CBS MarketWatch
Last Update: 3:23 PM ET Feb 3, 1999
PALO ALTO, Calif. (CBS.MW) -- E-Trade's stock trading service reportedly failed again Wednesday after the online brokerage said it had restored service for its 676,000 members following a two-hour outage.
A CNBC report said trading capabilities on E-Trade were down. E-Trade (EGRP) representative David Murray told CBS.MarketWatch.com that trading stopped at 10:15 ET for all E Trade members due to a problem with newly-installed software in the company's online service.
E-Trade restored service to about a third of its members by 11:29 a.m.and to all members by 12:15 p.m. "Our site has performed really well for some time," he said. "We've had some problems, but not at this level."
Murray could not be immediately reached about the second E Trade service outage.
E-Trade shares fell 2 1/4 to 56 by midday on Wednesday.
E-Trade customers have to trade via toll-free number until the problem is corrected. Online trading of securites is surging, according to a new report. Some 5 million Americans now use the Web to trade stocks.
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Note how the Murray times have been adjusted to fit with the COO's times. And that the "this has never happened before" quote has been explained away. I don't think there's necessarily anything sinister in all this. Give E*Trade the benefit of the doubt. A reporter paraphrased, was called on it, and, with blinding speed, clarified.
Tom |
