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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: MrBuzz who wrote (4778)	2/3/1999 11:17:00 PM
From: ecommerceman	Read Replies (1) \| Respond to of 13953

I really hate to break the trashing of E*Trade here, but thought I would do something real unusual and post something relative to the STOCK, instead of the service: from CBS Marketwatch (overheard at the Montgomery Conference)-- "E-Trade (EGRP) Chief Financial Officer Len Purkis called the company's Wednesday online-trading woes embarrassing but fixed (see story). "It's not about capacity, it's not about volume handling, and it's not about power outages," which, according to Purkis, is what one media outlet reported. He reiterated the company's plan to sign up 1 million accounts in the next 12 to 18 months. Purkis said he sees the E-Offering venture getting started in the spring. E-Trade holds a 25 percent stake in that IPO firm (with an option to own 51 percent). He said there's been "tremendous enthusiasm" for E-Offering. Purkis said E-Trade plans to establish itself in the top 20 international markets within two to three years. He said he sees gross margins this year in the mid-40s to low 50s. Purkis' audience at the NationsBanc Montgomery Securities conference in San Francisco didn't seem overly concerned about the technological problems E-Trade encountered Wednesday. Portfolio manager Sheldon Lien of Alaska-based McKinley Management, called the difficulties "a nonissue."