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Charles Schwab & Co., Inc.
Internet Daily for Thursday, June 7, 2001 by Frank Barnako CBS MarketWatch.com ----------------------------------------------------------------- 7-Eleven expands in-store Web test Check cashing, wiring money and other financial transactions have become easier with the introduction of Web-enabled kiosks at three dozen 7-Eleven stores in Florida's Fort Myers and Naples area. The company eventually expects to offer bill payment, event ticketing, travel directions and road maps through the proprietary terminals. Fort Myers and Naples were chosen to be a test market because there already is a strong demand for 7-Eleven stores' financial products, like money orders, said market manager Jim Summers. Depending on the test, 7-Eleven expects to place kiosks in additional stores nationally within six months. Because the kiosk is Web enabled, 7-Eleven could also offer branch banking, vehicle registration, issuance of airline tickets and in-store pickup of items bought online. A similar test has been under way at 58 stores in Texas. American Express has signed up to be the primary provider of ATM services, Western Union Financial Services will provide money order and money transfer transactions and Equifax has agreed to handle the check-cashing. ----------------------------------------------------------------- Orbitz start travels a rough road Highly promoted Orbitz.com found itself unable to handle the traffic. Call centers for the airline-owned ticket site were understaffed for the demand that greeted its launch Monday, a fiber-optic cable failed in Chicago, slowed operations and the site went off line Wednesday night for upgrades, according to The Wall Street Journal. "The deluge of customers really has exceeded our expectations," said Roland Jacobs, chief marketing officer. The number of customer service agents will be doubled to 200, he said. CEO Jeffrey Katz announced that during the site's three-month trial, it sold $4 million worth of tickets. Monday and Tuesday it did $4.5 million in business, a level not expected until late July. ----------------------------------------------------------------- Napster, the movie Liberty Media Group's Starz Encore unit is working on a movie about Napster. A spokesman for the movie programmer confirmed discussions are under way, Reuters reported. However, there is no commitment for production of a movie, yet. A Los Angeles-based writer is developing a screenplay for the project, and has been interviewing people who have been associated with the company and its founder Shawn Fanning. He called his song-swapping program Napster, which was his nickname in high school because of his curly hair. Napster said Thursday it has contracted with Loudeye Technologies to protect copyrighted music downloaded from the service. Loudeye provides digital "fingerprints" for files, and will be part of Napster's effort to remove copyrighted content from its service. "Loudeye's fingerprints and metadata will ultimately help us track millions of unique music files on our service, so we can fulfill our commitment to compensate artists, songwriters, music publishers and record companies," said Napster CEO Hank Barry. ----------------------------------------------------------------- Net pharmacy sales to be probed A House of Representatives committee will investigate the risks of imported pharmaceuticals. Among witnesses to be heard are the parents of Todd Rode of Athens, Ga., who died after taking drugs he ordered online. Other witnesses scheduled to testify before the Energy and Commerce Oversight and Investigations subcommittee include several drug company executives and a representative from the White House Office of National Drug Control Policy. ----------------------------------------------------------------- For late-breaking market news you can't afford to miss, go to http://CBS.MarketWatch.com/ ################################################################# Log in using the links below to: Access your account: https://investing.schwab.com/trading/start?SANC=CCBodyi&NeedCASelValue=Y View your Email Alert customization options: https://investing.schwab.com/trading/start?SANC=EAMyAlerts Perform research or request a market quote: https://investing.schwab.com/trading/start?SANC=Quotes Place a trade order: https://investing.schwab.com/trading/start?SANC=TradeStock To visit Schwab's home page, use this link: http://www.schwab.com/ ----------------------------------------------------------------- To unsubscribe or modify your Email Alert customization options, log in using the link below or copy and paste it into your browser's address window: https://investing.schwab.com/trading/start?SANC=EAMyAlerts Now you can receive graphics Email Alerts in HTML format, using helpful, full-color graphics and active Web links that connect you directly to information you want. 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