Is cash really king? Janus Capital founder and ceo Thomas Bailey is not sure. Bailey is trying to decide whether to sell his 6 percent stake in the firm at last year's pre-market plunge stock price for a grand total or around $600 million or wait a year and risk losing 100-200 million dollars as the stock price remains depressed, reports The Wall Street Journal. Bailey is also considering less tangible ramifications such as the possibility that he will lose much of his stake at Janus once he sells all of his shares.



MassMutual Financial Group will build a web-based email service using Compoze Software's Webmail software that allows its agents remote access to their email.



The Employee Benefit Research Institute has found in a new study that employment-based retiree health benefits will continue to decline as: new standards issued by the Financial Standards Accounting Board that negatively affect a company's profit and loss statement, medical inflation, age discrimination rulings by federal courts, and potential congressional legislation make retiree health benefits more expensive for companies.



Schwab's monthly activity report for the month of July 2001 was released today, interesting tidbits include:

• Total client assets stood at $851.3 billion, down 9 percent from July 2000 and down 1 percent lower than June of 2001.
• New net assets from all customers for the month totaled $7.4 billion.
• Total client daily average trades were down 36 percent from July 2000 and down 7 percent from June 2001.
• Daily average trades through Schwab's Mutual Fund OneSource were down 9 percent from July 2000 and up 3 percent from June 2001.

 

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