Wednesday, November 29, 2000
November 29, 2000
Reported by Sean Hanna, Editor in Chief
Merrill Lynch and Schwab, So Happy Together?
From Boston Globe
MerrillLynchSchwab.com? You read it right, Merrill Lynch now owns the URL after taking it from a cybersquater, according to the paper. The name is not a clue to a possible blockbuster merger, it adds. Cyveillance, a domain-name watching service, tipped off Merrill's legal eagles to the registration a month or two ago. Interestingly, the paper reports that Merrill has not yet informed Schwab that it seized the name, although it is reported to be ready to place a call "soon."
American Funds' Slide Continues
What's happening to Capital Research & Management? Sales of its American Funds are off by more than half -- or their lowest levels in ten years. Total inflows into the funds are at $3.4 billion through October down from $6.8 billion through the same period a year ago, says Financial Research Corp., leaving the firm in nineteenth place among fund complexes. One reason for the slowdown is the middling returns of its funds. Still, the article points out that the complex's sales peaked at $13 billion in 1996 and have gone downhill ever since.
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