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OPINION
May 11, 2004
E-Loan Inc. employees are worried about their jobs being outsourced overseas, where loan processing time is only 10 days, compared to 12 days here in the U.S. (May 6). They should be trying to figure out how to do the job in five days. To offset the low wages offshore, U.S. workers and companies must improve their competitive advantage in terms of speed, innovation, quality and service. Stop playing the victim and compete. Glynn Morris Playa del Rey
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NEWS
June 29, 1999 | Bloomberg News
E-Loan Inc. priced its initial public offering at $14 a share on Monday, the top of its expected range. Shares of the Dublin, Calif.-based firm, an online mortgage lender, will begin trading on Nasdaq today under the symbol EELN. . . . Drugstore.com Inc. hopes to sell 5 million common shares for $9 to $11 each, the company said in a filing that provided new details on the size of its planned initial public offering. The Bellevue, Wash.-based online retailer of drugs and health-care products filed with the Securities and Exchange Commission last month to raise as much as $67.5 million.
BUSINESS
June 2, 1999 | Associated Press
Leading online broker E-Trade Group Inc. of Palo Alto said Tuesday it is buying Virginia-based online banker Telebanc Financial Corp., creating the first purely Internet-based financial services company. Once the merger is complete, E-Trade customers would be able to trade stocks, apply for mortgages and pay bills, among other transactions, all on the same Web site. Under terms of the deal, E-Trade would acquire Arlington-based Telebanc for stock worth about $1.8 billion.
BUSINESS
August 24, 1999 | Reuters
Bank of America, the nation's largest bank, said it plans to swap its online auto loan unit for a 5% stake in Internet mortgage company E-Loan Inc. Under the agreement, Dublin, Calif.-based E-Loan will purchase CarFinance.com for 2.88 million shares of E-Loan and enter into a broad strategic alliance with Bank of America.
BUSINESS
January 13, 2000 | Bloomberg News
H&R Block Inc., the world's largest tax preparation company, said it will offer online trading and some mortgage services as part of its Internet operations. The Kansas City, Mo.-based company also will expand the number of its U.S. financial services centers, which offer mortgage services, investment advice and tax preparation, for a total of 94 this year. E-Loan Inc. is working with H&R Block on providing mortgage rates for its online service.
BUSINESS
April 26, 2000 | Bloomberg News; Times Staff
Don't write off E-Loan Inc. just yet. The Internet-based lender, whose stock had fallen 96% from last year's peak and recently fetched as little as $3 a share, more than doubled Tuesday after it received $40 million in capital from Charles Schwab Corp. (ticker symbol: SCH), the biggest online brokerage, and four other investors. E-Loan (EELN) was among many battered Internet stocks recently trading in sub-$5 "penny-stock" territory. But Tuesday on Nasdaq, the shares rocketed $5.28 to $9.
BUSINESS
June 30, 1999 | Times Wire Services
E-Loan Inc., the No. 1 Internet mortgage broker and lender, more than doubled Tuesday after its initial public offering, as investors expect more home buyers to shop online for a loan. The Dublin, Calif.-based company's shares, trading with the symbol EELN, rose $23 to $37 as 14.8 million shares changed hands on Nasdaq. The company sold 3.5 million shares, a 9% stake, and ended the day with a market value of $1.41 billion.
BUSINESS
June 11, 1999 | Times Wire Services
* Online mortgage information provider E-Loan Inc. said Thursday that the estimated price range for its initial public offering of 3.5 million shares was lowered to $9 to $11 a share from $11 to $13. No reason was given by the Dublin, Calif.-based company, which gave the notice in an amended filing with the Securities and Exchange Commission. The stock's underwriters are Goldman Sachs, Donaldson Lufkin & Jenrette, and Hambrecht & Quist--marquee names for tech IPOs.
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