While I would like to see the company start generating profits sooner, I think (flat-rate pricing) is the way the industry is going. CompuServe will need to make its revenue through advertising or transaction fees.
It's an attempt to protect the little guy from himself. H&R Block is helping people become first-time savers and not really profiting from it, at least to this point. Yes, there are fees, but there are also costs associated.
Putting to bed this whole question of Pilgrim's independence, and finally getting that noise behind them, probably would help those who work at Pilgrim better focus on the job they have to do.
While we view the acquisition favorably, we are maintaining our market perform investment rating at this time due to valuation.
I want to give them the benefit of the doubt.
Everybody works just a little bit harder. They drive their employees very hard.
That's a good price for a well-known house like Pilgrim. You could really get that company going again.
We believe Eaton Vance has a well-defined niche and reputation for tax-efficient investing, combined with strong distribution relationships. As such, [we] view it as well positioned to participate in the expected favorable, long-term growth of the asset management industry.
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