Subject: RE: Slightly Off-Topic...
To: None <firstname.lastname@example.org>
From: Collin Baillie <email@example.com>
Date: 06/26/2001 21:14:14
From: firstname.lastname@example.org [mailto:email@example.com] On
Behalf Of Wolfgang Rupp
> They got a clue. They bought the competition and go on selling their
> crappy design. It's not really about solutions, it's about shareholder
> value. And as long as they make sure they dominate the market, they
> can sell whatever they like, at a profit.
And, it's not just in IT. It's in most things. Look at banking fees these
days. In Australia, you pay a $2.50 transaction fee for each over the counter
service! Their claim? "We're providing a service, so we can charge for it the
same as any service provider" Of course they're still charging the interest
they have always charged on loans/credit which was traditionally their
income. They pay little of that on to people who choose to 'invest' their
money in accounts with the banks. They make multi-billion dollar profits each
year, and they close down branches in 'remote' areas. One bank I know here in
Australia boasts over 22 million ATM transactions alone for the month of
December. At a cost of $0.45 per electronic transaction, this generates
$9,900,000 in transaction fees. For one month, from just one transaction
method. And when it all comes down to it, why do they do it? To make more
money. And what is the big push to make more money? Because banks are no
longer owned by the bank. They're owned by investors who insist that their
shares gain value every second of the day. If it stopped making profit,
they'd pull their money out of the company and you'd end up with a crash.
The question is how much longer will this be able to go on? How long will
people be willing, nay, able to pay the higher fees and costs associated with
this mindset? How long 'til we see some big businesses crashing because they
just can't make the profit their investors want them to? Does the fall of the
dot commers leave anything to the imagination?