E*Offering is another step in our journey toward democratization of the financial services markets. It means more access to the public financial markets for individuals and a far more cost-effective service model for emerging companies that now can have better control over their most important asset -- their company's shares.

This acquisition supports E*Trade's mission of democratizing financial services by giving consumers even more opportunities and choices to benefit from the value and convenience of online banking and investing,

Online technology is transforming the delivery of financial services. This alliance will open up new dimensions of convenience and control for the consumer. We envision the consumer being able to access, control and document his or her banking and investment activities through a single online source.

This exceptionally strong start reaffirms our goal to become the leader in the arena of all-electronic personal financial services,

[E-Trade, the virtual stock brokerage, makes no bones about the fact that it is targeting full-service, full-commission brokers. Customers who open an account at www.etrade.com are offered a free copy of E-Trade's guide to online investing titled] Boot Your Broker. ... All those branch offices you all have are going to become fast-food outlets, so you might want to think about your career choices.

I know Frank to be a very decisive individual, and while this turnabout in such a short period of time is disconcerting, it is best for both companies now before coming on board with E*Trade Securities.