It's not just another channel; it's the channel.
Bill Burnham
You don't keep customers by insulting them or downgrading them,.. When you're in a meeting with buy-side clients, you say 'This is an investment banking client.' It's a code word for 'I'm not going to be harsh on this client,' or 'You need to read between the lines.'
meeting word read banking code investment
We had revised our numbers up twice and they still beat them. This is a strong indicator that E*Trade is going to perform well.
numbers strong beat
This was the obvious thing that they should have done about two years ago. I think they lost a lot of ground by being indecisive between now and then. And it's a little disconcerting that they're waiting until December to actually get this up and running.
running lost waiting thing
[As for Yahoo, the company has] expressed some interest in it privately so it doesn't surprise me,.. Yahoo! Isn't a financial institution, not a broker dealer, so it'd have to get involved in that to facilitate trade.
surprise company interest trade
People are looking for some indications, what are the core growth rates in the Internet and how is that going to affect the other Internet stocks, and that is why they are so fixated on Yahoo!.
growth people internet
You're asking firms to alienate 95% of their revenue-producing assets [their brokers] for 5% of the business.
business
They generate the majority of their revenues now from the tax programs,.. Perhaps they're just reiterating their commitment to the Mac platform.
majority commitment mac tax
There's been so much learning on the job for the small firms, and that's hard to replicate,.. It's not the kind of environment the full-service firms are used to. It's like asking horse-racers to drive Ferraris.
environment learning kind drive small hard job
If you watch the first hour of trading, it's like the Wild West,.. There's clearly less hanky-panky going on after the first hour.
wild west
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