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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: Goolie2 who wrote (1292)	3/30/1999 6:59:00 AM
From: Elsewhere	Read Replies (1) \| Respond to of 2414

>NetBank COO resigns, does this concern anyone? No. As somebody pointed out at the Yahoo! board Shapleigh will join another startup within the Johnson "universe": Directo, Inc. Hires New Director of Sales and Marketing Friday March 26, 9:34 am Eastern Time biz.yahoo.com If there had been any problems with Shapleigh then Johnson wouldn't have kept him, and if Shapleigh had had any problems with Net.B@nk he would have left the Johnson circle. Shapleigh owns 115,937 NTBK options, currently worth about $7 million, and he'll continue to serve as a NTBK director. Not exactly a dump and run behavior. >If I owned NTBK, I would buy some puts for protection. A better interpretation could be that Shapleigh wants to maximize his chances. The probability of NTBK increasing seven times again within the next two years as it has done since its IPO in 7/97 is less likely than achieving a similar success with Directo within the same period. Rather than being a signal to sell NTBK Shapleigh's switch could be a signal to wait for the Directo IPO. BTW: thank you for being so polite as to ventilate your heart-felt concerns as a TBFC long on the NTBK board. Here's one thought for you: TBFC has been talking about the YHOO "alliance" (read: expensive advertisement) for months now. Yes, some banners have appeared on Yahoo! pages for some time, yet the public perception is a different one. A quote from yesterday's MoneyCentral article: Virtual bank stocks climb in the online frontier Sectors & Trends, posted 3/29/99 moneycentral.msn.com "Yahoo! (YHOO) has formed an alliance with Bank One (ONE)." I would feel nervous about a stock of a company which talks but somebody else is perceived to do the walk. - And if you want to mention TBFC's relative strength vs. NTBK during the past days: an ironic interpretation could be that TBFC once again follows NTBK paths - NTBK ran up "magically" to 10x book prior to the SPO, for TBFC that target would be around $100...