Charles Sch­wab,

Forbes - - CON­TENTS -

bro­ker­age de­moc­ra­tizer: founder, charles sch­wab

In the late 1990s and early 2000s, we were grow­ing by leaps and bounds. Ev­ery­body wanted to trade stocks. Then came the dot-com bust, and all of a sud­den, busi­ness col­lapsed. I came back as CEO in 2004. We re­al­ized suc­cess had cov­ered over mis­takes, and we had be­gun to lose our com­pass. The only path for­ward was to go back to our core val­ues—help­ing in­di­vid­ual in­vestors with lower costs, less com­plex­ity and great ser­vice. We cut ex­penses, we trimmed back staff, we sold off busi­nesses, and ul­ti­mately we turned things around.

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