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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?


To: Sir Auric Goldfinger who wrote (9134)2/11/2002 8:12:31 PM
From: StockDung  Respond to of 19428
 
PayPal Warns About Service Problems

By MICHAEL LIEDTKE
.c The Associated Press


SAN FRANCISCO (AP) - PayPal Inc. warned Monday that its popular online payment service is about to be shut down in Louisiana by that state's banking regulators, casting another cloud over the company's widely anticipated initial public offering of stock.

The imminent shutdown of PayPal's service in Louisiana was disclosed in Securities and Exchange Commission documents. They detail the risks the Palo Alto-based company faces as it tries to overcome the stock market's distaste for unprofitable Internet companies.

PayPal had hoped to sell 5.4 million shares at $12 to $14 apiece last week, but a patent infringement lawsuit filed by CertCo Inc. threatened to short circuit the company's online payment service. That prompted investment bankers to delay the IPO until this week.

In a counterclaim filed Monday in Delaware, PayPal sought to invalidate CertCo's patent claim and alleged the New York-based company waited until the last minute to file its complaint to disrupt PayPal's IPO.

The delay forced PayPal to disclose several new developments, including word that Louisiana regulators sent a Feb. 7 letter ordering the service to stop brokering payments between online buyers and sellers until the company receives a money transmission license.

Monday's bad news might pressure PayPal to lower its IPO price or pull the offering, said Kyle Huske, an analyst with IPO.com.

``Obviously, you don't want these kinds of negatives to come out in a panicky market like this,'' Huske said. ``It's tough to say what will happen now. It's all going to depend on the fortitude of the investors that they had already lined up for the IPO.''

With the latest revisions to its outlook, PayPal now hopes to set the IPO Thursday, paving the way for the company's shares to begin trading Friday on the Nasdaq Stock Exchange.

At the current target price, PayPal's IPO would raise more than $60 million. As of Sept. 30, the company had $138.6 million in the bank and its losses have been steadily diminishing over the past year.

In its SEC filing Monday, PayPal said it will comply with the Louisiana order forcing it to suspend business in that state when management receives the notice. The company also said it may appeal the Louisiana order in an administrative hearing.

PayPal's Louisiana customers accounted for 0.9 percent of the service's payment volume during the first nine months of last year, according to the SEC documents. The company makes its money by collecting a commission based on the dollar amount of most transactions completed on its e-mail service.

Although Louisiana represents a small portion of PayPal's overall business, the company's regulatory problems in that state might not be isolated, management conceded in Monday's filing.

Besides Louisiana, New York also has notified PayPal the company is running an unlicensed banking business. The New York regulators still haven't ordered PayPal to stop doing business there, which accounted for 6.4 percent of the payment volume handled by the company during the first nine months of last year.

PayPal said regulators in nine other states and the District of Columbia have indicated the company needs a license to run its online payment service. Those states are: Arizona, California, Colorado, Idaho, Massachusetts, Maryland, Texas, Virginia and Vermont.

The company said it has already filed, or plans to file, applications in those states and the District of Columbia. Based on management's analysis, the company also has decided to seek money transfer licenses in Connecticut, Minnesota and North Carolina.

PayPal already is licensed in Oregon and West Virginia.

If state regulators determine PayPal has been running an illegal banking business, the company could face substantial fines dating back to when the service began with 24 users in October 1999. The service had ballooned to 12.8 million accountholders as of Dec. 31.

On The Net:

paypal.com

certco.com

AP-NY-02-11-02 1933EST



To: Sir Auric Goldfinger who wrote (9134)2/11/2002 9:56:34 PM
From: pilapir  Respond to of 19428
 
LOL! But if you look real close you can see

a few with a firm grip ona jar of vasoline!

Ha-Ha-Ha
;-))



To: Sir Auric Goldfinger who wrote (9134)2/11/2002 10:43:04 PM
From: StockDung  Respond to of 19428
 
New Terror Alert FBI Warns of Possible Attack
Against American Interests

Feb. 11 — The FBI has alerted law enforcement officials at home and abroad that terrorists may be planning an attack against the United States or U.S. interests overseas, possibly as early as Tuesday.

In a warning issued tonight, the FBI urged law enforcement and the American public to be on the lookout for a Yemeni man and several associates who might be plotting a terrorist attack. It said the warning was based on information obtained in Afghanistan and from detainees at the U.S. Navy base in Guantanamo Bay, Cuba, where several al Qaeda and Taliban soldiers are being held.
"As a result of U.S. military operations in Afghanistan and ongoing interviews of detainees in Guantanamo Bay, Cuba, information has become available regarding threats to U.S. interests," the FBI said in an alert to 18,000 law enforcement agencies. "Recent information indicates a planned attack may occur in the United States or against U.S. interests in the country of Yemen on or around 02/12/02. One or more operatives may be involved in the attack."

The alert identified one possible operative as Fawaz Wahya al-Rabeei, a Yemeni national born in Saudi Arabia in 1979. It listed about a dozen alleged associates of al-Rabeei. The FBI asked police "to stop and detain" any of the individuals named in the alert and warned they should be considered "extremely dangerous."

Specific Date Mentioned

Senior law enforcement officials told ABCNEWS the U.S. military received a document in Afghanistan that allegedly belonged to al-Rabeei. Within the last 24 hours, investigators matched the document's information with information picked up from at least one Guantanamo detainee.

The information, officials said, cited a specific date for a possible attack and also identified al-Rabeei. FBI officials do not know al-Rabeei's whereabouts. They believe he could be anywhere in the world and may be traveling with a Yemeni passport.

Yemen was the site of the bombing of the USS Cole on Oct. 12, 2000. The Navy destroyer was attacked during a refueling stop at the port of Aden. Seventeen U.S. sailors were killed.

Threats Taken Seriously

Intelligence officials are taking the latest threat very seriously, the FBI said.

The agency's warning is the latest of several the government has issued since the Sept. 11 attacks. It comes more than a month after federal authorities extended the national terror alert issued on Dec. 3 to March 11.

Government officials have said that a continuous flow of daily intelligence about nonspecific threats of another attack have prompted them to urge law enforcement authorities to remain on high alert. The Dec. 3 warning was initially intended to last only through the Christmas holidays, but was extended.

The government also issued alerts on Oct. 29 and on Oct. 11.

In the last month, the FBI also has warned nuclear power plant operators and Web site masters to be aware of threats and possible attacks.

ABCNEWS' Pierre Thomas contributed to this report.

FBI Alert to Law Enforcement

The FBI issued the folowing alert to law enforcement officials nationwide and worldwide:
As a result of U.S. military operations in Afghanistan and ongoing interviews of detainees in Guantanamo Bay, Cuba, information has become available regarding threats to U.S. interests. Recent information indicates a planned attack may occur in the United States or against U.S. interests in the country of Yemen on or around 02/12/02. One or more operatives may be involved in the attack, including Fawaz Yahya al-Rabeei, also known as (aka) Furqan. Al-Rabeei is believed to be a Yemeni national born in Saudi Arabia in 1979. He may be traveling on Yemeni passport 00452004. Other al-Rabeei aka's include Fawaz Yahia Hassan Aribii, Fawaz al-Fubai, Fawaz Yehia Hassan al-Rabie, Fawaz Yahya Hasan al-Rabi'i, Fawaz Yahya al-Ribi (al-Ruba'i, al-Rabia'i, al-Rabi'i), Forqan al-Tajiki, Furqan al-Tajiki, Furgan al-Tajiki, Furqan the Chechen, Faris al-Baraq, Sa'id, Musharraf, and Salem al-Farhan.

Al-Rabeei's current whereabouts are unknown.

No physical descriptors for al-Rabeei are available at this time.

Below are known associates of al-Rabeei.

Currently, no physical descriptors are known.

Name/POB, Year/Nationality

Issam Ahmad Dibwan al-Makhlafi, aka Akrama/Saudi Arabia, 1977 /Yemeni.

Ahmad al-Akhader Nasser Albidani/Yemen, 1977/Yemeni.

Alyan Muhammad Ali al-Wa'eli/Yemen, 1970/Yemeni.

Bashir Ali Nasser al-Sharari/Yemen, 1970/Yemeni.

Bassam Abdullah Bin Bushar al-Nahdi/Saudi Arabia, 1976/Yemeni.

Abdulaziz Muhammad Saleh Bin Otash/Saudi Arabia, 1975/Yemeni.

Mustafa Abdulkader Aabed al-Ansari/Saudi Arabia, Unknown/Saudi.

Omar Ahmad Omar al-Hubishi/Saudi Arabia, 1969/Yemeni.

Ammar Abadah Nasser al-Wa'eli/Yemen, 1977/Yemeni.

Shuhour Abdullah Mukbil al-Sabri/Saudi Arabia, 1976/Yemeni.

Samir Abduh Sa'id al-Maktawi/Saudi Arabia, 1968/Yemeni.

Abdulrab Muhammad Muhammad Ali al-Sayfi/Unknown/Yemeni.

Other associates, with no photo available, include the following individuals:

Name/POB, Year/Nationality

Abu Nasr al-Tunisi/Unknown/Unknown (Possibly Tunisian).

Abu Mu'az al-Jeddawi/Unknown/Unknown (Possibly Saudi).

Riyadh Shikawi Aka Shakawi/Unknown/Yemeni.

Amin Saad Muhammad al-Zumari/Saudi Arabia Or Yemen, 1968/Yemeni.