Word: schwab
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...that humanity is not so selfish and careless as opponents of capitalism see it. If we stood together, everyone could live without worrying about having enough to eat. Why do we deserve to live in luxury when our fellow humans have to struggle against starvation every single day? Andreas Schwab Feldkirch, Austria Support for Assad In his interview with Syrian president Bashar Assad [March 14], Joe Klein reported that Assad "evaded the question of closing Palestinian 'rejectionist' group offices in Damascus." What is Assad supposed to do? Free speech requires that all views, however unwelcome, be allowed expression. Assad strikes...
...alas, never posted a profit--and in September announced it would miss third-quarter sales and profit forecasts. Enter Lepore, 50, as new chairwoman and CEO. Lepore knows plenty about the Web's peril and potential: she was chief information officer and then vice chairwoman of online broker Charles Schwab, which flew high in the 1990s but suffered when the stock market sank. She is predictably optimistic about her new company, which has seen sales grow from $110 million in 2000 to an estimated $300 million this year. "There are many trends working in our favor," Lepore says, including...
From drugs to financials, the stock market is trying to anticipate who will win the White House this fall. Sorting it all out is a TIME panel moderated by senior writer DANIEL KADLEC and including Richard Bernstein, chief U.S. strategist at Merrill Lynch, Gregory Valliere, chief political strategist at Schwab Soundview Capital Markets, and Thomas Gallagher, chief political analyst at ISI Group...
...tweeners are where Schwab has been operating--without much success. Despite acquisitions like U.S. Trust and Soundview Financial, which have broadened Schwab's product mix, the firm has been unable to persuade clients to pay more for research and advice. The firm's spotty record hasn't helped. Since May 2002, Schwab's lowest-rated stocks have outperformed its top-rated stocks. "They're trying to be too many things to too many people," says Lauren Smith, analyst at investment firm Keefe, Bruyette & Woods...
With founder and eponym Charles Schwab replacing Pottruck, many expect the firm to focus on the discount brokerage business, which accounts for 70% of its pretax income. But Schwab could make a decisive assault on the full-service brokerage industry or even be put up for sale. What's clear from the firm's troubles--it lost 44,000 accounts in the second quarter, when profits fell 10%--is that the middle market is a tough racket. Don't look for anyone to rush into this void...