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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: Mike Milde who wrote (2066)	7/9/1999 11:08:00 AM
From: VALUESPEC	Read Replies (2) \| Respond to of 2414

<<Why do you feel it will takes years for other Internet banks to get 75,000 accounts? That's really not very many. Getting accounts is the easy part - you just offer no fees, good rates, and do lots of marketing. What is NetBank doing that other Internet banks are not??>> Mike, you never answered at what price you would buy NTBK back? Didn't you SAY you sold your stock which you bought $6 at ~$80? Wasn't under $30 low enough to buy back? It isn't many?? It is more than Telebanc had! It would put them in up the lead of all internet-only banks (top three, even with E*Trade)! In fact, NTBK now stands in a class by itself as the largest pure-play. Yes, other banks are trying to do what NTBK is doing but they also have a weight over their shoulders (all that brick and mortar). They have another VERY LARGE WEIGHT, too. That would be the high fees they would lose from current customers if they switched to their internet banking service. YES, they could do what NTBK is already doing AND they could have done it two years ago! And IBM could have crushed MSFT early on. And K-mart should be bigger than Wal-mart and Sears should be bigger than Wal-mart. And Merril Lynch should own on-line brokering and . . . I guess you are right, Mike. All K-mart had to do was say "hi" to its customers at the door and offer lower prices! There are both cultural reasons and financial reasons why NTBK might be able to stay way ahead of the banks. Will they? Who knows, but so far it looks good. NTBK: ~ $ 37 ~ 35,000 accounts as of about June 1, 1999 VALUESPEC