E*Trade cutting back again

That’s because AMTD uses all its money to pay it executives. I used to work for AMTD. You wouldn’t believe the turnover in the call center. Now their experienced people are finally fed up and leaving in droves. Do you think upper management cares? No. Go ahead and ask the Customer Service rep you speak to how long they’ve worked for AMTD. The average tenure of a CS rep is less than 1 year. When I first started the Premier (APEX) Customer Services reps had years of experience. The last few years the APEX customer services reps had about 6 months experience, and they were considered the veterans! All AMTD cares about is its share price. That’s why they have all those tech problems. They don’t want to pay to get good systems and they don’t want to pay to keep good people.

You whiners b!tching about AMTD need to open your eyes. ETFC is a sinking ship…..the actual long term outlook on the company is not postitive, but is kept alive by the hopes and the dreams of traders like you who cannot recognize or will not acknowledge that the ship is sinking.

Wow! Is this guy for real? No mention of the profitable 2008 either. Some analysts will post anything to get their name out there.

It was an unhappy day when ETFC bought Brownco (I’m still mourning). I recently switched to OptionsXpress. So far so good. The downside: OX commissions are too high.

I also have a TD Ameritrade account. I’ve traded at various places for 25 years and I’ve never been treated so bad (well over $1M in my account and thousands $$ in annual commissions and margin interest). They must use the airlines as their model for customer focus. As others have said, the web outages are pathetic. My advise: don’t go there!

I’m hoping ETFC has a speedy recovery. I want a viable alternative to AMTD without the risk of having my assets frozen for years in a bankruptcy proceeding.

“Net new account additions in the latest quarter fell 89 percent from a year ago to a measly 7,035. Meanwhile, rival Ameritrade (AMTD) seems to be fattening up at E*Trade’s expense. E*Trade will have to do considerably better to get its shares out of penny stock territory.”

You are going to be so embarassed when the monthly metrics come out for January. People are fleeing AMTD in droves, their platform is completely broken.

I can’t believe this is what you gleaned from today’s conference call. unbelievable. truly the worst piece of reporting I’ve ever witnessed.

Hey genius, do you get paid for writing this drivel? Company was supposed to go bk, left for dead, clients leaving in droves and yet they ADD, that’s right moron, ADD 7000 accounts. Ameritrade’s system goes down twice in three days and Etrade should be more like them is your point. WOW!!

I am SOOOOO glad I’m not the only believer in ETFC. I thank the other bloggers for refuting the nay-saying “analysts” that trashed E*Trade. Those of us who held on to ETFC shares and stayed with the firm will be smiling in a few months while Barr & his cohort analysts at CITI et al will off to trash another firm. Mark my words, AMTD is not worth anyone’s time. Especially when their CEO strutted his stuff over false & misleading data. So, my fellow investors, stick with E*trade & you’ll come out just fine. Boo on Barr!

Hey Colin, I must have missed yoyr question on the conference call. Penny stock. Thats laughable.

Why couldn’t you title your article “Etrade up 10% after Report!”. All the articles seem to have a negative slant including yours in title and in tone.

Yea. I’m ready to switch to Ameritrade. (NOT!) Site down for hours on 1/22. I wonder how many who did switch to Ameritrade will be coming back? I’ll bet there will be a quite a few. The eTrade bank may have some issues but I LUV the online brokerage site. I’m not switching!!

fyi…..ameritrade’s fattening up won’t have been helped by the fact that the “streamer” for active traders was down all morning on tuesday (day of fed cut) and has been intermittent since then. not to mention the ability to log on has been hit or miss as well. http://blogs.barrons.com/techtraderdaily/2008/01/24/update-ameritrade-had-stock-quote-issues-earlier/?mod=yahoobarrons

its also worth noting that the analyst who helped illuminate the problems/ spark a run at etrade was off by approx $30bn in his estimate of year end assets and recently wrote a piece saying etrade wouldnt make money for 3 years, they are now saying they will be profitable in CY08. clearly all is not well but apparently not as bad as many say, positive net accounts in Q4 considering all the press does show very good brand and product loyalty which is worth a mention

Dave, penny stock territory pretty much ends at $5, so it’s almost there. To others who note that the stock is priced for a bankruptcy that’s not going to happen, I agree that’s probably so. But as for E*Trade being profitable this year, we’re a long way from that actually happening. Management is clearly making progress now, but it doesn’t seem like a stretch right now to say that a lot of financial companies are going to be under pressure with house prices falling in 2008.

Wow, what an analysis, I hope you make 6 figures. Stock price was at bk levels and that is not a thought anymore. Where was your column when AMTD shut down during the biggest trading day of they year. Etrade will have a profitable 2008, but I guess you could not find room to put that in your piece of garbage article. Fair and balanced, I think not.

Right now Etrade is priced for Bankruptcy and this clearly is not going to happen. Is a stock trading at $4.13 (Up 65c) after hours trading hihg enough to be considered out of penny stock territory? Stop bashing.

Stop the bashing already. You have done enough, cover your short and celebrate your gains.
It is time for ETrade to recover

Pretty nasty slant. Waht did you expect, business as usual? From an invesor viewpoint, the company NEEDS to be active.
You guys get paid off again???

Long time ET customer and couldn’t be happier. The hamster that runs the wheel keeping the Ameritrade site up gets tired too often. Ameritrade is bush league.