We are long term (year in year out) shareholders, and thus receive the yearly annual report.
1998's Report references their plans to begin online baking at some point in 1999.
A research site I found shows that Commerce has about 6 domain names registered for use.
I spoke with an employee in KC, and questioned her as to when I, as an acct holder might be able to actually use internet banking.
She said the site was already up and running, but that only employees are allowed to use it presently, so that any bugs in the system can be worked out. She said she thought that online banking might be available within the next 2 months or so.
One of the recently registered domain names seemed to indicate the brokerage holding company may also be headed for online stock trading, but no one I spoke to could give me any information about this.
What is the opionion of other long term shareholders about what effect this might have on stock prices? I don't anticipate an internet type valuation, but even a small improvement would be nice.
Our new pick is Computer Research, Inc. (CRIX) - Currently trading at $2.06
Some times it is much wiser to look behind the scenes when investing in hot sectors. The brokerage and finance industry is growing by leaps and bounds, helping the stocks of companies which represent these industries climb to new heights. Computer Research provides computerized accounting and record-keeping support services to more than 50 securities broker/dealers, banks and other financial institutions. The company is directly affected by the volume of trading (stock and bond trades). In their last reported quarter, revenues were up nearly 30% and earnings were .03. The company said that the revenue increases were mostly due to increased trading volumes.
Computer Research has a dynamite balance sheet with nearly $2.5 million in cash and short term investments and almost no debt. Last year was a time of re-configuration. They upgraded all their software systems to the year 2000 compliant IBM AS/400 platform. They also managed to replace the revenue from a lost customer by adding 4 new customers. Now the company plans to focus on growth. And that is exactly what we like....