Ken Worthington
Ken Worthington
changing environment market past people won
No one won in the past market environment. A lot of people will be changing chairs.
benefits european investment progress seen
I think (the European investments are) something they need to do, but we haven't seen the benefits from their investment yet. I've seen better progress at other firms.
accounts help profitable rid turn
Such fees help to get rid of non-profitable accounts or turn them into profitable ones.
business companies goes
As the Nasdaq goes higher, market-making business goes higher, implying that the fundamentals of Nasdaq companies are doing better.
bigger business far fixed income size winner
Lehman is the winner so far this quarter. Lehman has a bigger fixed income business proportional to the size of the company.
business customers dominant players until wait weaker
They can just wait until the weaker players go out of business and those customers will go to one of the dominant players.
bottom breaks cost fall generally large perspective pleased result
Generally I'm pleased from a shareholder perspective with what's going on. They've made a significant restructuring, which will result in significant cost savings, much of which will fall to the bottom line. This breaks them out from being a very inefficient, large brokerage house.
company excited good terribly
I'm not terribly excited about the company ... but it was a good quarter.