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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: cfimx who wrote (51826)	3/13/1999 9:02:00 PM
From: Bonnie Bear	Respond to of 132070

schwab has a little problem....looks like all their employees headed for Fiji. I pulled up local job postings and the first 500 are schwab jobs at all levels.

To: cfimx who wrote (51826)	3/14/1999 11:42:00 AM
From: Knighty Tin	Respond to of 132070

Twister, W&R is a good firm with smart mgt. But, the simple fact is, they make most of their money on mgt. fees and commissions, and those disappear in a downturn. First, your assets decline from market attrition, and, then, a lot of folks discover they need whatever money they have left a lot sooner than the 20 years they had planned to hold stocks. It is true that this is much less of a factor for W&R than for many other fund cos., given the loyalty and demographics of their customer base and the quality of their salespeople. But it is a factor. Also, all the folks you had to pay big money to retain are now a drag on the SG&A. The one thing I would mention is that at 15 times eps, WDR seems to have a lot more uncertainty built into it than do most fund co. stocks. MB