VentureBeat - Latest Comments in Credit crunch hits start-ups: Comerica accounts frozen?

Re: Credit crunch hits start-ups: Comerica accounts frozen?

Guest — Wed, 14 Oct 2009 03:36:33 -0000

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Re: Credit crunch hits start-ups: Comerica accounts frozen?

Anthony Ha — Sat, 19 Apr 2008 11:02:03 -0000

@Yuri-

We do moderate comment spam, but we definitely need to do a better job of it. I don't know that that's a huge problem in this particular story, though -- most of the self-promoting comments are borderline acceptable. And by borderline I mean, "not obviously written by robots."

Re: Credit crunch hits start-ups: Comerica accounts frozen?

Yuri Ammosov — Sat, 19 Apr 2008 05:18:33 -0000

Looks like there's a bit too much advertising in comments. Do you guys ever moderate comment spam?

Re: Credit crunch hits start-ups: Comerica accounts frozen?

ESER.org — Tue, 08 Apr 2008 01:46:57 -0000

As yet another unfortunate investor in these Auction Rate Securities, I've been befuddled that I can negotiate a price for durable goods on EBay any day-of-the-week, but I can't get my stock broker to find a buyer for my Auction Rate Securities -- no matter what discount I'm willing to sell at. Every asset has val\
ue, it's just a matter of discovering the price.

So, we've created an electronic secondary market at ESER.org for investors to directly buy and sell Auction Rate Securities. The goal is for ESER.org to enable price discovery for illiquid Auction Rate Securities.

It's frustrating that none of the banks that have previously back-stopped the auctions of these securities are willing to step in and redeem the issues from their clients.

We're running ESER.org (Electronic SEcurities Registry) at http://www.eser.org as a public-service: sellers are free to list their Auction Rate Securities for sale; and buyers are free to browse the listings and negotiate pricing and settlement with the sellers.

Hopefully, a vibrant secondary market, such as ESER.org, will allow investors to cash-out of these illiquid Auction Rate Securities.

-ESER.org (Electronic SEcurities Registry): www.eser.org

Re: Credit crunch hits start-ups: Comerica accounts frozen?

Anthony Ha — Fri, 14 Mar 2008 12:19:46 -0000

Mike - OK, looks like you were right, and what we were hearing was wrong. See the update above.

Re: Credit crunch hits start-ups: Comerica accounts frozen?

Anthony Ha — Thu, 13 Mar 2008 21:38:09 -0000

Mike -- Could you elaborate? I'll be the first to admit that I'm not a finance expert, and I've been trying to hook up with Comerica for further clarification. But again, what we've been hearing (not from Comerica, but from other sources) is that the liquidity issue in the auction rate market has affected Comerica's money market accounts. Is this just flat-out wrong?

Re: Credit crunch hits start-ups: Comerica accounts frozen?

mike post — Thu, 13 Mar 2008 21:32:04 -0000

Anthony- you should understand what you are writing before putting it down on paper. The liquidity issue is with Auction Rate Securities, NOT Comerica's on balance sheet money market accounts . The article is misleading and inaccurate.

Re: Credit crunch hits start-ups: Comerica accounts frozen?

Brendan M. O'Connor — Wed, 12 Mar 2008 09:24:29 -0000

For those looking for a place to sell your auction rate securities, I encourage you to visit the Restricted Securities Trading Network (RSTN) at www.RestrictedSecurities.net. The RSTN is the largest centralized secondary market for ARS. The firm I work for, Restricted Stock Partners, manages the RSTN. Alternatively, please feel free to call me directly at 212.668.3909 or via email at boconnor@restrictedstockpartners.com with any questions. Regards, Brendan O’Connor

Re: Credit crunch hits start-ups: Comerica accounts frozen?

Anthony Ha — Tue, 11 Mar 2008 15:30:35 -0000

Argh, that's the second time I've made that mistake today. Fixed!

Re: Credit crunch hits start-ups: Comerica accounts frozen?

hwu — Tue, 11 Mar 2008 15:06:45 -0000

FYI auctions are a 330 bln market not 330mm.