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Technology Stocks : CheckFree (CKFR) -- Ignore unavailable to you. Want to Upgrade?

To: Benny Baga who wrote (4510)	5/24/1998 9:57:00 AM
From: jjs_ynot	Read Replies (1) \| Respond to of 8545

Here is a posting from the Tech Stock Options Thread. It is pretty speculative but suggests civil antitrust action against Microsoft if DOJ is successful. To: Gersh (43757 ) From: Gersh Saturday, May 23 1998 9:27PM ET Reply # of 43841 post.messages.yahoo.com. =============================================================== The problem with Microsoft's "business model," is that it is riddled with business practices which are illegal under the antitrust laws (as well as the trademark laws, with respect to the trademark infringement action which 3Com has brought against Microsoft in Europe, arising from the "PALM" trademark for hand-held computers.) As for Netscape, probably its single biggest asset is its multi-billion-dollar antitrust claim which it has yet to bring, but surely will, against Microsoft. No doubt, Netscape would like to await a final judgment in the DOJ's case, if possible (which now seems in the cards), before filing a private civil antitrust action against Microsoft under 2 of the Sherman Antitrust Act. If the DOJ can establish certain facts and issues against Microsoft in the pending U.S. v. Microsoft litigation, then Microsoft can expect to be collaterally estopped in a subsequent private civil action brought against it by Netscape. Netscape did NOT retain Robert Bork simply to make television appearance or to write Op-Ed pieces in The Wall Street Journal or The New York Times. Under the antitrust laws, depending upon how damages will likely be measured (e.g., compensatory damages for loss of market share in relevant market, i.e., the web browser market, etc. - one possibility), whatever Netscape may be awarded, which can easily run into the hundreds of millions of dollars, if not billions of dollars, will be TRIPLED in accordance with the antitrust law. Netscape would also be entitled to attorneys' fees from Microsoft. Thus, if Microsoft loses to the DOJ later this summer or this fall, look for Netscape to follow-up with its own multi-billion dollar antitrust action against Microsoft and, remember, if Microsoft loses to the DOJ, it will likely be BARRED from re-litigating any issues necessary to support the final judgment against it. In other words, if Microsoft loses to the DOJ, for all intents and purposes, Microsoft will be barred from defending its actions again in a separate suit to be brought by Netscape, i.e., Microsoft will be barred from presently a defense! The reverse, however, is NOT true. Microsoft can defeat the DOJ (which, frankly, seems extremely UNLIKELY), however, this would NOT bar Netscape from establishing its claim against Microsoft anew. Because Netscape is NOT a party to the present DOJ/Microsoft litigation, Netscape can only benefit from an adverse ruling to Microsoft, but will not necessarily be harmed by a favorable ruling to Bill (which, again, does not seem to be in the cards.) Not being a party to the DOJ action, it is not bound by any potential ruling adverse to its interests, as a general rule. Either way, Microsoft has NOT heard the last of Netscape. Netscape has a billion-dollar plus antitrust claim against Microsoft and, in due course, that claim will be prosecuted.I do NOT work for Netscape, but I can virtually guarantee it!!! =============================================================== The above was a post on the Yahoo MSFT thread. Gersh

To: Benny Baga who wrote (4510)	5/24/1998 12:02:00 PM
From: Brian K Crawford	Read Replies (1) \| Respond to of 8545

<<Why would CF keep their ACH (PEP+) products and services? >> I recall that CF has a dominant share (70% +) of the market for the software used by Financial Institutions to manage the origination and receipt of ACH transactions. Staying in the business of providing this software makes sense. CF provides the software, but not the actual service...the banks provide the service (access to the ACH system) to their commercial accounts...see how this is consistent with CF's billpay and E-bill strategy ??? Hanging on to it makes sense, because it keeps them in the back office of the banks, and is directly related to payment systems, Checkfree's primary focus. Yet the bank is in front, CF is in the background. <<Or is CF just trying to corner the market on all transactions? >> Yes, with the banks as partners. Eliminate the post office and paper checks today. Maybe phase the Fed down tomorrow, where direct presentment volumes and economies of scale permit. But the banker relationship with their retail and wholesale customer will continue to be in place. ================================================================== For those with a technical interest, a few paragraphs from the FAQ's page at MSFDC are below. The VISA e-pay system is really just another of several operators that operate under the umbrella of the ACH settlement system. So its ACH format and system, VISA brand.... MSFDC link to glossary of terms: msfdc.com Excerpts: ACH The ACH Network is a highly reliable and efficient nationwide batch-oriented electronic funds transfer system governed by the ACH Operating Rules, issued and managed by the National Automated Clearing House Association (NACHA). ACH is the network that millions of consumers use today to pay bills via Automatic Direct Debit. The ACH Network performs interbank clearing of electronic payments for participating Financial Institutions. ACH Operators run central clearing facilities through which Financial Institutions transmit or receive ACH entries. The Arizona Clearing House Association, Federal Reserve, New York Automated Clearing House, and Visa USA act as ACH Operators. EDI-Electronic Data Interchange Electronic Data Interchange (EDI) is a widely accepted transaction format for the application-to-application transfer of business documents between computers. MSFDC's service provides standard translators for EDI-810 (statements) and EDI-820 (payment) format messages. Most companies have developed extensions that are required for their application of EDI. As a result, the EBPP service includes the source code for these translators to permit easy Biller customization and integration with their existing EDI systems. NACHA-National Automated Clearing House Association The National Automated Clearing House Association (NACHA) is a not for profit banking trade association with the largest number of member Financial Institutions in the country. NACHA promulgates the rules and operating guidelines for electronic payments through the ACH Network, and for Electronic Benefits Transfers, electronic checks, financial EDI and cross-border transactions. The ACH Network links America's depository Financial Institutions to the nationwide electronic payment and collection infrastructure. See nacha.org for additional information. Hope this is of some help. Brian