Find these stories and more at
               http://www.redherring.com

------------------------------------------------------------
TOP STORY: When's the next wave of telecom M&A? Don't hold
your breath.

M&A Insight: Telecom mergers on hold
http://www.redherring.com/index.asp?layout=story&channel=20000002&doc_id=680019468&rh_special_report_id=

------------------------------------------------------------
               A D V E R T I S E M E N T

Find out how Oracle's Global CRM in 90 Days can save you
money, time and resources. Fixed time frame. Low cost. Click
to access:
*Larry Ellison's Global CRM in 90 Days Value Proposition
*Online Overviews and Web Seminar
*Information on how to purchase Global CRM in 90 Days
online, and more!

http://ad.doubleclick.net/clk;2824194;5797445;w?http://www.oracle.com/go/?&Src=646865&Act=106

               A D V E R T I S E M E N T
------------------------------------------------------------

Catch of the Day: What planet are you from?

It was like another world. The party that VC firm Draper
Fisher Jurvetson was putting on was in the blimp hangar at
Moffett Field. There are few stranger buildings. And then
Tim Draper showed up. In a space suit.

But the portfolio companies for which DFJ threw the party
were, mostly, down to earth. There were only a few "viral"
concepts (like Hotmail, DFJ's most famous hit). The rest
were infrastructure, wireless, semiconductor, photonics, and
CRM companies.

And then there was Achex, which makes not an aspirin
substitute, but rather a system that lets consumers pay for
online purchases through a checking account, instead of with
a credit card. Personally, I use plastic for almost
everything, but outside of rich cities, a sizable portion of
the U.S. population doesn't buy this way.

Achex is targeting retailers that, at their physical
locations, do substantial cash and check transactions;
Kmart's BlueLight.com is a customer. Achex transaction fees
are also lower than credit card fees.

My first take on Achex was that online credit card
transactions work well enough, so why build a parallel debit
system? However, not everybody on this planet buys things
the way we do in the big city.



- Rafe Needleman, rafe-needleman@redherring.com
  Editor, http://www.redherring.com


COMPANIES
* Achex
  http://www.achex.com

* TeleCheck
  http://www.telecheck.com

* PayPal
  http://www.paypal.com

* Qpass
  http://www.qpass.com

* BlueLight.com
  http://www.bluelight.com

* Draper Fisher Jurvetson
  http://www.dfj.com


RELATED STORIES
* Walmart.com: The physical giant goes virtual
  http://www.redherring.com/story_redirect.asp?layout=story_generic&doc_id=RH640019064&channel=70000007

* J.C. Penney ... Web powerhouse?
  http://www.redherring.com/story_redirect.asp?layout=story_generic&doc_id=RH850018285&channel=50000005

* Who will pay for WorldPay?
  http://www.redherring.com/story_redirect.asp?layout=story_generic&doc_id=RH420018242&channel=50000005

* Breaking the virtual bank
  http://www.redherring.com/story_redirect.asp?layout=story_generic&doc_id=RH1330014133&channel=40000004

* Baby, you can crash my car
  http://www.redherring.com/story_redirect.asp?layout=story_generic&doc_id=RH1560017956&channel=80000008

* Micropayments, megaproblem
  http://www.redherring.com/index.asp?layout=story&channel=80000008&doc_id=310015231

* Don't bank on mobile payments
  http://www.redherring.com/index.asp?layout=story&channel=50000005&doc_id=1500015550



------------------------------------------------------------
               A D V E R T I S E M E N T

Find out how Oracle's Global CRM in 90 Days can save you
money, time and resources. Fixed time frame. Low cost. Click
to access:
*Larry Ellison's Global CRM in 90 Days Value Proposition
*Online Overviews and Web Seminar
*Information on how to purchase Global CRM in 90 Days
online, and more!

http://ad.doubleclick.net/clk;2824194;5797445;w?http://www.oracle.com/go/?&Src=646865&Act=106

               A D V E R T I S E M E N T
------------------------------------------------------------

Inside Tech
A Red Herring Research report on the economics of Webcasting
provides a jumping-off point for a lively debate among
insiders in the streaming-media sector.

The Red Eye: Broadband breakfast party
http://www.redherring.com/index.asp?layout=story&channel=10000001&doc_id=690019469&rh_special_report_id=


------------------------------------------------------------

UPCOMING RED HERRING EVENTS

Venture Market Europe
June 11 - 12
Hilton Park Lane
London, UK

Herring on Hollywood
July 30-31
Century Plaza Hotel
Los Angeles CA

Venture Market East
Sept 25 - 26
Fairmont Hotel
Boston MA

http://events.redherring.com/

------------------------------------------------------------

SPECIAL OFFER on RED HERRING magazine!

Stay on the cutting edge of technology -- subscribe to Red
Herring. By taking advantage of this special offer, you'll
pay only $39 for a total of 24 issues and SAVE 67 percent
off the cover price! New subscribers only, please.

http://www.redherring.com/index.asp?layout=magazine_us_subscrib

------------------------------------------------------------

ADVERTISING INFORMATION
For information on advertising in Red Herring
newsletters, contact: advertising@redherring.com

------------------------------------------------------------

You are currently subscribed to Catch of the Day with the
address alewis@ect.enron.com. If you wish to unsubscribe,
please go to
http://www.redherring.com/index.asp?layout=e_newsletters,
sign in using this exact address, and uncheck the
newsletters you no longer want to receive.

------------------------------------------------------------

Copyright (c) 2001 Red Herring Communications
All rights reserved

------------------------------------------------------------