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Pastimes : ETRADE Sucks! -- Ignore unavailable to you. Want to Upgrade?

To: bw who wrote (752)	11/3/1997 2:10:00 PM
From: Ken M	Read Replies (1) \| Respond to of 3262

Had to post to this thread BN 10/31 ETrade, Schwab Have Worst Performance This Week, Survey Says ETrade, Schwab Have Worst Performance This Week, Survey Says New York, Oct. 31 (Bloomberg) -- ETrade Group Inc. and Charles Schwab Corp. had the worst performance of nine online brokers this week amid a roller coaster ride in the stock markets and record trading, according to a survey by online magazine TheStreet.Com. The publication asked 294 of its readers to rate the online brokers' service from 1 (''excellent'') to 5 (''horrible''). Palo Alto, California-based ETrade had an average score of 4.27 out of 5, ranking it last, according to 63 people who rated the online broker in the survey. Schwab, the biggest U.S. discount broker, ranked 8th after E*Trade, with an average score of 4.26, according to 87 people who ranked it. The results come as online brokers tested their limits this week when the Dow Jones Industrial Average plunged 554 points on Monday, rebounded 337 points the next day, prompting a record 2.7 billion shares to trade. The record volumes caused many investors to have difficulties connecting to online brokers. Datek, the No. 1 broker in the survey, had an average score of 2.07, based on the ratings of 14 people who ranked its service. Donaldson, Lukfin & Jenrette Inc.'s electronic brokerage unit DLJdirect was No. 2, with an average score of 3.27, based on 22 ratings. Ameritrade ranked 3rd, with 3.40 as its average score, based on 20 ratings, while National Discount Brokers ranked 4th, with an average score of 3.57, based on 7 ratings. Fidelity Investments' online brokerage unit followed in 5th place, pulling in a rating of 3.69, according to an average of 29 scores. Morgan Stanley, Dean Witter, Discover & Co.'s Discover Brokerage Direct came in 6th, with 3.92 points, based on an average of 12 ratings of its service. Waterhouse Investor Services Inc.'s online brokerage had 4.05 points, based on the average of 21 Street.Com readers' rating. --Monique Wise in the New York newsroom (212) 318-2608 /daa

To: bw who wrote (752)	11/3/1997 2:33:00 PM
From: William T. Katz	Read Replies (2) \| Respond to of 3262

We need to have some grass-roots effort to publicize how bad ETrade is. I unfortunately got a friend to join recently and I really really regret this decision. As soon as possible, I am moving most of my money OUT of EStall. To make matters worse, they give customers absolutely ZERO feedback on their problems and when they will be resolved. If anything, they put spins on it or just tell outright lies to boost accounts. We need to use the power of the internet to get the word out. People should simply not use this service. Any other company that produced such crap would be required to do a recall and suffer bad publicity. There has been little of any publicity with EStall's failure. What do you think is the best approach? Web site citing specific examples of all their inadequacies? Perhaps a chart showing the # of times they are down, and we can update the chart? Mass mailings to squawk box? I'm an extremely pissed-off long-time EStall user. Enough is enough. -Bill