But the public still stomps on the shoemaker. Other companies may enjoy good reputations with stockholders but still face trouble in the public opinion war. But about half the American public views the company as a monster, bent on dominating the computer industry. Other companies in reviled industries have turned service into their own killer application. The world of finance.
Many investors place stockbrokers in the same category as used car salesmen.
And not without cause. Brokers have been known to recommend stocks their own companies are promoting, regardless of whether or not they match investors' own goals. Adding insult to injury, when a stock or mutual fund turns sour, the broker who sold it to you still profits in the form of high commissions charged when you sell. That lousy reputation has helped spark the on-line investment revolution that now accounts for almost half of trades made each day, deeply wounding many established Wall Street firms. Schwab, the largest on-line broker, offers a supermarket full of financial services.