Word: discounts
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There are many other people--mutual-fund pioneer Ned Johnson at Fidelity Investments and discount broker Charles Schwab, to name two--who over the course of the next 40 years helped push Wall Street and Main Street closer together. Yet for all their innovations, they remain at bottom Merrill's heirs. Their modern investing mantra is the same basic message he preached so many years ago-- that people should invest for the long haul; that they should have a clear understanding of the companies they are buying; that despite the hair-raising ups and downs, stocks have historically outperformed every...
...said that the easiest way to grasp the essence of what Sam Walton meant to America is to read his ad slogan emblazoned on all those Wal-Mart trucks you see barreling down highways around the country: WE SELL FOR LESS, ALWAYS. Walton did not invent discount retailing, just as Henry Ford didn't invent the automobile. But just as Ford and his cars revolutionized America and its industrial model, Walton's extraordinary pursuit of discounting revolutionized the country and its service economy. Walton didn't merely alter the way much of America shopped; he changed the philosophy of much...
Though it's hard to believe today, discount retailing was a controversial concept when it began to gain ground in the '50s at stores such as Ann & Hope, which opened in a reclaimed mill in Cumberland, R.I. Traditional retailers hated it, and so did manufacturers; it threatened their control of the marketplace. Most states had restrictions on the practice...
...stands, however, In Their Eyes comes across as an album trying to ride on the coattails of the '80s revival. Just like many of the original singers faded away with the passing of the decade, many of these bands seem destined to become throwaways, more fodder for the discount...
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