Word: marketization
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Dates: during 1990-1999
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Clients of e-brokers have run afoul of computer glitches that delay the execution of trades for minutes or hours--while prices shift. Such problems caused anguish last October when jammed lines kept e-traders from bailing out as the market plunged 554 points...
This ceaseless demand for information has given rise to lucrative alliances between online brokers and data providers. In one such deal, Datek signed a $1.5 million agreement in January to sponsor the stock market ticker on TheStreet.com www.thestreet.com) an electronic magazine filled with news and analysis of stocks and market trends. For its money, Datek gets a button on the site of TheStreet that brings viewers to the broker's home page...
...market leader has been Charles Schwab, which commands nearly a third of the online trade business--or 1.5 million accounts--despite a $29.95 commission, which is three times higher than the deep discounters charge (see chart). Schwab's secret has been to knock down the wall between its online business and its 5 million regular account holders, giving everyone access to the entire range of products and services available at the firm. These include round-the-clock, dial-up brokers and technical support, and a financial supermarket that offers 1,500 different mutual funds...
LETHAL WEAPON 4 (July 10). Six years is a long time between sequels, but this is a hardy franchise. Mel Gibson goes crazy; Danny Glover fumes. What's new? Well, Chris Rock is along to goose the youth market; Hong Kong's Jet Li kicks some Occidental butt and helps sell the film to Asia. Moral: good business is more important than than great moviemaking...
...years after the publication of Looking Backward, there appeared a very different view of A.D. 2000. It was a sort of capitalist rebuttal, although by definition the free-market philosophy does not easily lend itself to Utopianism, with its regimented bliss. In A Journey to Other Worlds by John Jacob Astor, Socialism has hopelessly ruined Europe, while the U.S., having absorbed Canada, Mexico and most of Central and South America, virtually rules the world together with its ally, Great Britain. A great-grandson of the dynasty's founder, Astor was a playboy with a serious side. Fascinated by science...