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Charles R. Schwab
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TEN years ago, Charles R. Schwab was struggling to run a brokerage firm out of a two-room office, offering free Brownie cameras to attract customers. Then came Mayday. Within months, Mr. Schwab was tearing down walls, measuring his growth by the differing shades of carpet in his ever expanding office. Of the discounters born of May Day - the deregulation of brokerage commissions that took place on May 1, 1975 - Charles Schwab & Company has emerged as the biggest.
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Charles R. Schwab is founder and chairman of The Charles Schwab Corporation. Mr. Schwab started his San Francisco-based firm in 1971 as a traditional brokerage company and in 1974 became a pioneer in the discount brokerage business. Today, the firm serves 8 million client accounts through a domestic and international network of 388 Schwab Investment Centers and 34 U.S. Trust offices supported by the most advanced on-line computer system in the industry.
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Reacting to the resignation Wednesday of Charles R. Schwab from the board of directors, the stock of BankAmerica Corporation yesterday moved in fits and starts amid heavy trading. As the sixth most actively traded stock on the New York Stock Exchange, it closed at $12.375, unchanged, after trading as high as $12.75 and as low as $12, which matched its low for the last 12 months. One block of nearly 200,000 shares traded at $12.125.
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When Charles R. Schwab talks, people take heed. Not too many folks turn a deaf ear on Charles Schwab, one of the most trusted names in financial investment. Large online transactions still make many people leery. This is especially true with online trading where hundreds or thousands of dollars may be at stake if something goes wrong. But partnering appropriate cautionary measures (such as having a current and more secure Web browser) with an investment house that is trustworthy, solid, and reputable can make online trading safer and more comfortable. Whether you're looking to save for retirement or your children's education, or you're simply looking for some investment advice, bookmark the Schwab home page at http://www.schwab.com.
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Charles R. Schwab was born in Sacramento, California, in 1937. Two things marked Schwab's early years; his struggle with reading and writing, and his budding entrepreneurial side. In the days when the future investor was growing up, little was known about dyslexia.
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Schwab has always been a technology-driven company. Chapter 4, "Innovation," describes Schwab's commitment to an innovation meritocracy in which great ideas win out, no matter where they come from. Schwab is a rule-breaker. From day one it has trespassed on respected boundaries. Discount brokerages, everyone knew, were supposed to do away with frills like branches so they could offer lower commissions. So what did Schwab do?
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Charles R. Schwab