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Bob - they SHOULD be getting sued under normal conditions.
Given the past 18 months of incredible economic and market upheaval,
THESE ARE NOT NORMAL CONDITIONS.
They should be bankrupt by now just from the lawsuits.
> -----Original Message-----
> From: Bob Fulks [mailto:bfulks@xxxxxxxxxxxx]
> Sent: Sunday, December 16, 2001 12:20 PM
> To: Mike Higgs
> Cc: omega-list@xxxxxxxxxx
> Subject: Re: variable declarations within EL?
>
>
> At 11:43 AM -0500 12/16/01, Mike Higgs wrote:
>
> >Of all the things, I've seen posted here and elsewhere about system
> >development this is one of the most insightful. We assume that software
> >gives us the "right" answer if the data being used is clean. And then we
> >are willing to put dollars on the line.
>
> Interesting footnotes in TRAD's most recent 10Q report:
>
> Other receivables are comprised of a receivable from the
> brokerage's clearing organization and, as of September 30, 2001,
> a $2.7 million receivable from the Company's insurance carrier
> relating to a trading error made with respect to a client's
> account. While no assurances can be given, we expect the
> insurance claim to be fully paid by the carrier.
>
> And:
>
> Technology development expenses were $2.9 million for the
> three months ended September 30, 2001, as compared to
> $1.8 million for the three months ended September 30, 2000,
> an increase of $1.2 million, or 66%, due primarily to
> increased uninsured loss reserves of $600,000 and increased
> personnel and related expenses of $330,000.
>
> Sort of makes you wonder why they need "uninsured loss reserves" as
> part of their technology development expenses...
>
> Maybe some of the bugs in TradeStation are finally "coming home to
> roost..."
>
> Bob Fulks
>
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