Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn D. Rudolph who wrote (144655)	8/4/2002 3:42:38 AM
From: Bill Harmond	Read Replies (1) \| Respond to of 164684

Large IPO allocations go to large clients on both sides of the bank. There is absolutely no doubt about it. Frankly I don't see what the problem is. I wouldn't bother denying it. Many of these officers have large personal accounts at these banks and give them tremendous personal business. On the other hand, IPO's as a quid pro quo amounts to kickbacks, and that should be against policy. If I were running a big company I'd have a policy of not accepting IPO's from any firm on Wall Street if the person is a finance officer. When I worked at ABC my favored clients came as guests to the Olympics and got seats between the forties at the Superbowl. Business is business. If they had company policies restricting their ability to accept these invitations (some did, most didn't), then they said so. If they came in spite of it they got fired. They never got free money though.