Word: competitors
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...rate on the street, but if we're too much under the market, at some point they'll leave," says Steve Andrews, president and CEO of the Bank of Alameda. The San Francisco Bay Area bank has been forced to keep rates artificially high, Andrews says, as one flailing competitor after another - IndyMac, Washington Mutual, Downey Savings & Loan - has pushed up rates in an attempt to attract deposits and stave off insolvency. "It's frustrating riding into work and hearing about [deposit rates] at 4%," says Andrews. "That's prime rate - there is no margin...
Nothing so cheers the soul of a hardened businessman as the sight of a competitor on his knees. So you'd expect the spectacle this week of Detroit's struggling Big Three carmakers begging Congress for $34 billion in loans and lines of credit would be cause to break out the sake in Japanese boardrooms...
...Unsurprisingly, publishers tried to piggyback on Playboy's winning formula. Penthouse magazine, an upstart competitor formed by Bob Guccione in 1965, closely mirrored Playboy in format, with a lascivious mix of interviews, fiction features, cartoons and narrative pieces surrounding the buxom centerfolds. But in its choice of images, Penthouse lacked Playboy's sexual subtlety. (Professional competition aside, Hef and Guccione actively disliked each other; while Guccione promoted the rumor that Hef was a "closet queen," the Playboy publisher, noting Guccione's cultivation of a similarly decadent lifestyle, remarked that "If I were he, I'd want...
...says a lot about what a great competitor he is,” Saretsky said. “He just really rose to the occasion...
...seem very easy going and relaxed, but you're also a very focused competitor. Do you find those two aspects of your personality conflicting? It works for me, I guess. I'm relaxed but I always want to improve myself when I'm surfing; in that way you can say I'm focused. But otherwise I'm pretty low-key, I do my own thing...