SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Action Direct - Royal Bank Brokerage
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Cheeky Kid who wrote (79)3/6/2000 6:25:00 PM
From: Cush  Read Replies (1) of 175
 
Here's the part from that story that I liked.


It's much the same story at Action Direct, Royal Bank of
Canada's discount brokerage arm, which has 400,000
customers and manages $11-billion in assets. Royal
vice-chairman Reay Mackay said at the bank's annual
meeting last month that Action Direct does 100,000 trades a
week. A year ago, it was doing that volume in a month.

"I don't think anybody running the business could have
predicted that kind of growth," Mr. Mackay said at the
meeting, to which an unhappy shareholder responded: "I
disagree it was unforseeable. It was entirely forseeable."

That shareholder was right on the mark.

It's just management bull$hit when they say "no one could have predicted". That must be on page two of the management excuse book. When they screw up, it's always, "no one else could have done it better".

Well, why don't they try someone else and see.

Before the clients are forced to try someone else.

Cush
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News