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Non-Tech : E*Trade (NYSE:ET)
ET 16.26-0.8%3:20 PM EST
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To: Spytrdr who wrote (6438)5/13/1999 5:10:00 PM
From: Lorenzo Perez  Read Replies (3) of 13953
 
This company doesn't know how to take care of its customers. I am leaving it, as well as many other active traders responsible for 97% of their daily transactions.

I can't understand this management's lack of initiative and foresight. They're spending millions on TV advertisement to get knew customers, majority of which will place one or two transactions a year. Meanwhile, those that place 10-20 and even more transactions a day are feeling the pain of these damaging and persisting “server is down”, and they're looking for a better place to go like Datek.

I wonder if it wouldn't be better for them to spend less money in advertisement and more in upgrading their system. Besides, it would be compelling to build a simpler express site, exclusively intended for active traders that place X amount of orders a week., and that almost is never is down. This way they would keep happy those customers that generate most of their revenues.

When I think of how long and often they've being having problems with their server, without taking necessary steps to protect their investment (valuable customers), I get the conclusion that the E*Trade management is incompetent and that this stock will eventually reflect it once this wave of disoriented new customers get into the real world and leave for a better house. Than their decreasing revenues will reveal what we should have understood now.
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