Just before the meeting got started, Andy Grove, the gruff chairman of Intel's board at the time, pulled Pottruck aside. 'When you got promoted to CEO,' ... 'did that make you a better man' I said no. He said, 'Well then, do you think the fact that you're no longer CEO of Schwab means you're not a better man' I said, 'No, I don't think so.' He said, 'You're as good a man as you were last week. Hold your head high.' It helped me a lot.
More Quotes from David Pottruck:Our continued leadership in online investing is reflected in the growing number of customers using these services at Schwab,
Recent trading volumes are propelling the company to its best quarter ever in terms of revenues and profits.
These estimated results reflect heavy trading volumes, the strength of our core domestic business, the absence of any international proprietary trading and a continued focus on staffing levels, expenses, and risk management,
He picked up the phone and began to make calls, aware that his firing would ripple far beyond his desk. Pottruck's assistant of 15 years, Colleen Bagan-McGill, was driving through San Francisco with her husband and kids at the start of a long-awaited vacation when her cell phone rang. How are you doing, honey ... I need to tell you something. I got fired this morning.
As ardent believers in the power of market competition, we strongly support the idea of a dual-listing, and are proud to be among this initial group of market innovators, ... Our hope is that as more companies opt for dual-listing, we will experience a healthy increased competition in our trading markets, resulting in innovative applications of technology, heightened transparency, and improved trading outcomes for all investors.
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Few can believe that suffering, especially by others, is in vain. Anything that is disagreeable must surely have beneficial economic effects.
John Kenneth Galbraith
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