Comment My conversation with Nellie.... (Score 2) 121
This makes no sense to me.. but here goes...
I saw the IPO interest opening announced on /. and got all excited, like everyone else, and flew over to E*trade. I signed in, using the account I set up a few weeks ago specifically for this IPO, filled out the profile and BOOM - dream over - told I was not eligible almost as soon as I hit the "submit" button. So I called E*trade and this is how it went:
I went to customer service and spoke to Nellie, a very sweet sounding young lady. I told her I had signed up with E*trade for a specific IPO, was turned down, and was thinking of withdrawing my account. But first, I asked her if I could find out why I was turned down, this is what she said:
"Those profiles are reviewed by the people at E*trade that handle our IPOs and they would be the only one that could answer your questions".
To which I said, "The response was immediate, it is software that is making the actual decision, it has to be. How can I find out why I was declined?"
Nellie: "You will need to speak with someone who handles our IPOs."
Me: "Fair enough, can I speak with your IPO department?"
Nellie: "We do not have an IPO department."
Me: "What you have just told me makes no sense, is there anyway to find out why I was tured down? It seems to me that this would be my right as a potential investor?."
Nellie: "We cannot release that information because it would make it unfair for other potential investors."
Me: "Is there anyone I can talk to concerning this?"
She put me on hold... (about 3 mins)
Neliie: "Sir, it seems that the eligibility requirements are determined by the company who is releasing the IPO [Red Hat]. I am the end of your line for this I am afraid."
Me: "Hmmm, ok, thanks, g'bye..."
I wish that I could quote verbatum, I wasn't taking notes, and that is as close to the real conversation as I can get.. thought it was a little strange. Thought I would pass it on.
ALSO : I called Goldman Sachs (another RH underwriter) and they said they would be glad to help me if I fit their customer profile, which includes having a portfolio of $5 million or more...
EGADS !
Still poor with money stuck at E*trade (Have a few ideas for that wildcard in their name),
JedTheHead
I saw the IPO interest opening announced on
I went to customer service and spoke to Nellie, a very sweet sounding young lady. I told her I had signed up with E*trade for a specific IPO, was turned down, and was thinking of withdrawing my account. But first, I asked her if I could find out why I was turned down, this is what she said:
"Those profiles are reviewed by the people at E*trade that handle our IPOs and they would be the only one that could answer your questions".
To which I said, "The response was immediate, it is software that is making the actual decision, it has to be. How can I find out why I was declined?"
Nellie: "You will need to speak with someone who handles our IPOs."
Me: "Fair enough, can I speak with your IPO department?"
Nellie: "We do not have an IPO department."
Me: "What you have just told me makes no sense, is there anyway to find out why I was tured down? It seems to me that this would be my right as a potential investor?."
Nellie: "We cannot release that information because it would make it unfair for other potential investors."
Me: "Is there anyone I can talk to concerning this?"
She put me on hold... (about 3 mins)
Neliie: "Sir, it seems that the eligibility requirements are determined by the company who is releasing the IPO [Red Hat]. I am the end of your line for this I am afraid."
Me: "Hmmm, ok, thanks, g'bye..."
I wish that I could quote verbatum, I wasn't taking notes, and that is as close to the real conversation as I can get.. thought it was a little strange. Thought I would pass it on.
ALSO : I called Goldman Sachs (another RH underwriter) and they said they would be glad to help me if I fit their customer profile, which includes having a portfolio of $5 million or more...
EGADS !
Still poor with money stuck at E*trade (Have a few ideas for that wildcard in their name),
JedTheHead
