To: ALDEN HUEN who wrote (1759 ) 3/17/1999 7:40:00 PM From: OFW Respond to of 3262
The Classic Site and IPO Notification: Alden, you asked why some people use the classic site. The classic site is presently available for use ONLY by customers who were with ETrade PRIOR to the time they opened the new site. Many, (I have been told approximately 6% of all ETrade customers), continue to use the classic site because it is fast, simple and more efficient. There are fewer bells and whistles, no cumbersome graphics and the load time, at least in my experience, is far superior to the new site. However, ETrade is determined to implement their goal of elimination of the classic site. I spoke with one representative today encouraging ETrade to at least give adequate notice of when they intend to shut the site down. And, as you could see by previous posts they have already begun the process of "encouraging" customers to move to the new site. The "lot selection" feature on the classic site is no longer functioning (even though it is still there and you are not advised that it is not functioning) and the lack of IPO notice to those using the classic site is another example. As for the IPO notification, it is my understanding that Platinum level status gave you the right to an advance notification of the posting of the IPO on their new site. Platinum members do NOT get preferred status in the actual offering itself, only in the notice that such an offering will be posted. (Of course, that only applies if you use the new site not the classic as we learned today after weeks or months of not getting those promised alerts.) Notices, when provided are delivered via the normal message alert system on the website, not via private email. Finally, I would assume that those involved in the class action suits will be including the lack of IPO notification to Classic Site users in their legal battles. For ETrade to eliminate the largest single feature of Platinum status for classic site users, without notice, is not only inexecusable but also should carry with it a certain amount of legal liability. Offie