Word: firms
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...duplicitous, beyond the fact that he was conducting an extramarital affair? No, there was no reason for me to believe that. You have to understand, I had all my money with him. He had a huge reputation; he was chairman of Nasdaq and had a very successful brokerage firm. This wasn't a back-alley type...
...million in charges associated with the closing of Ruehl, in the second quarter. During the same period in 2008, Abercrombie scored a $77.8 million profit. "Abercrombie has mismanaged this economic downturn more than any other retailer," says Britt Beemer, CEO of America's Research Group, a retail consulting firm. (See TIME's photos of stores that are no more...
...even if Abercrombie could justify holding firm on price, it did little else to entice customers. "If you provide interesting incentives, you can minimize losses while maintaining the luxury image," says Park. "Offer milk and cookies in the store. Anything...
...heard of payment for order flow, right?" Madoff asked. "Huh?" I responded. Madoff explained that Bernard L. Madoff Investment Securities had pioneered the practice of paying customers to trade through it, thereby siphoning business away from the New York Stock Exchange (NYSE). The firm was able to use its sophisticated computer systems and trading algorithms to earn enough off the spreads between what it bought and sold stocks for to more than offset the amount it paid customers. (See the top 10 crooked CEOs...
...engage in all this. But there is one nagging concern: that equity markets now move so insanely fast that they could go off the rails spectacularly. "I can't tell you what all this volume of trading will mean," says electronic-trading pioneer E.E. (Buzzy) Geduld, who sold his firm, Herzog Heine Geduld, to Merrill Lynch in 2000. "I can tell you there may be some unintended consequences and this all may blow up." Competition and innovation tend to make markets explode from time to time. And while we wouldn't really be able to blame this one on Bernie...