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To: Art Bechhoefer who wrote (5686)	5/12/1999 12:25:00 PM
From: NHP	Read Replies (1) \| Respond to of 60323

Hi Art, I agree that "I have never heard of options that are in the money NOT being exercised". But, I was looking at the worst case. The option agreement I signed with my discount broker read: "If I do not give [broker] instructions to exercise a valuable option by the appropriate time and the right to exercise expires, I hereby agree to release [broker], its respective officers, employees, agents and affiliates from any and all claims of damage or loss". The AE with whom I was dealing argued that "I have been working for [broker] for 20 years and have not seen one case of in-the-money options not being exercised". There was enough money involved with my options that I wanted to be protected for the worst case, so maybe I am super cautious! I thank you for your response to my original posting on this subject. NHP

To: Art Bechhoefer who wrote (5686)	5/13/1999 2:33:00 AM
From: Bill Zeman	Read Replies (2) \| Respond to of 60323

Art (kinda off topic) I use Schwab, and I get excellent executions also, but for $30 a trade instead of what you pay. If the only reason you are paying full price for your trades is excellent executions then you may want to take a flying leap into 1999 and open an on line account. I have read you referring to your age and no offense intended but I firmly believe that the full service brokers keep a lot of older guys like you trapped into paying high commissions by 1. habit 2. personal relationships, ("I've been using Joe Blow broker for years") 3. Misleading salesmanship, (ie: executions are better). I was watching the CEO for a big banking firm on one of the news channels being interviewed at the CEO conference that occurred recently. He was asked if he was worried about online brokers biting into the many full service brokerage firms his corporation operated. He said he wasn't and they have not been hurting them. He said online brokers only account for 10% of all trades and that percentage has not gone up in the last year. If this is true, then these guys have got to be pulling some major wool over some eyes. He said, "he thinks there are some real good services to be had from a full service broker that still make them a good value." What a crock!!! I can't believe there are still so many people getting ripped off! "Good value". Ya right and I think I'll insure my car with All State and my home with Farmers and I'll hire a CPA to do my 1040EZ and a lawyer to represent me in traffic court. I just love to pay over priced financial experts so they can all make their $4000 mortgage payments and drive BMWs. <GGGGGGG> Hope you took this with a <G>. Only mention it because I like you and hate to see anybody I like flush money down the toilet. If your broker turns you on to some excellent investment ideas or he/she is a personal friend or provides some other truly valuable service, then I can see a reason for him. Otherwise let him go the way of the dodo bird. Bill Zeman 30 7/16