Peter Drucker's Passing -LA Times Article

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Nov 19, 2005 4:10 pm

http://www.latimes.com/news/printedition/la-fi-drucker12nov1 2,1,4575222,full.story


Peter Drucker: A great man, a great thinker, the Father of "Modern Management".


Sorry to see him go.


Maybe someday I'll have lunch with him.


TA




Nov 19, 2005 4:17 pm

Interesting that several great leaders of great companies are mentioned in the article:



Jack Welch - GE

Andy Grove - Intel

Doug Hill - Edward Jones



Great leaders that were all influenced by Drucker to build their great companies.



BPD



___________________________________

The Grass is GREENER where you water it!

Nov 20, 2005 9:54 am

bpd,


IF you read the article you would have understood (but then reading comprehension is not a manditory requirement at your firm) that the realtionship between Drucker and EJ started over 20 years ago.  Who was still alive then, who was just named as the managinging partner??


payday - isn't that a candy bar full of NUTS???? 

Nov 20, 2005 11:25 am

Eddjones654, a couple of definitions from Webster for you:<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


 


envy
Pronunciation: 'en-vE
Function: noun


Painful or resentful awareness of an advantage enjoyed by another joined with a desire to possess the same advantage.


 


jealous
Pronunciation: 'je-l&s
Function: adjective


Hostile toward a rival or one believed to enjoy an advantage.


Webster

Nov 20, 2005 12:55 pm

What is Jones to do without their fearless Management Guru?  Drucker was a celebrated figure by all of the GPs.  Wasn't he the one to convince you all to go into Canada and the UK?  I believe he was.

Nov 20, 2005 7:56 pm

False:



Take a look:



Jones ranked 4th best company to work for in Canada:

http://www.jonesopportunity.com/pdf/en_CA/top-50.pdf



Brokerage Report Card for Canada:

http://www.jonesopportunity.com/pdf/en_CA/BrokerReportCards. pdf



As of June '05 Jones has 554 offices in Canada:

http://www.edwardjones.com/pdf/PressKitMap.pdf



Drucker was not the one who recommended we move into Canada, it was John Bachmann. But regardless we are doing VERY well there.



Wrong again, False.



BPD



_____________________________________

The grass is still GREENER where yo water it!

Nov 20, 2005 9:01 pm

You are doing well in Canada?  You have got to be kidding me.  I won't even go there.  And it was Drucker who suggested you go there.  You don't know too much about your own company.  Bachman practically worshiped Drucker.


I noticed you listed all Jones websites.  How is the UK adventure going?  I guess you will give me a Jones press release on how well they are doing?  What a joke!


Nov 21, 2005 9:54 am

If everyone was envious of Jones, wouldn't they go to work for them?  It just seems the obvious solution if that were the case.


On second thought, what would they do with their fee-based accounts less than $500k?  C-shares?

Nov 21, 2005 8:58 pm

BrokerReject,



When you are a Dynasty like Edward Jones, people either love you or hate you. There can be no middle ground. If you are a Red Sox fan and you are envious of the Yankees (as most are), is the obvious solution to start rooting for the Yankees? I think not.



As far as fee based goes..."less than $500k" why in the world would you be working with less than that anyhow, unless you are a rookie just starting out?



BPD

Nov 21, 2005 10:03 pm

YANKEES?!!!  In my market, it's more like The Three Stooges!  I think you'd fit in well, giant candybar full of nuts.


No envy here, that's for certain.

Nov 22, 2005 10:18 am

A.)  Nice spin-off of my name.  Very creative. 


B.)  It's a completely logical question.  Many in this business go where they have better potential to serve their clients.  If Edward Jones is indeed the best place to do that, why wouldn't reps go there.  Again, completely logical. 


C.)  There are fantastic products out there that are perfect for some clients and not others that many firms offer, but EDJ does not.  Again, this goes back to client service. 


I'm not saying EDJ is a bad place to be.  If it's the right place for you, BPD, more power to ya.  I'm not going to try to sway you or anyone else that feels that way.  That's not my job.  Stay where you are happy and where you are able to serve your clients.


The whole Red Sox/Yankees analogy works in some instances, but I don't think it works here.  If Manny Ramirez is offered a big deal to go to the NYY and win another championship, I'm sure he would.  If blarm, starka, rightway, whoever felt that EDJ was a better place to serve client needs and increase their earning potential, I have no doubt, given that they are successful and very well-versed in this business, that they would easily be able to identify a stronger opportunity to do so.  However, that is not the case.

Nov 22, 2005 9:23 pm

BR,



Sometimes it's not about the money. Take for example, Ken Griffey, Jr. He could have gone to the Yankees, Angels or some other large market team and earned huge dollars. Where was his choice, Cincinati. Why? That's where he wanted to live and raise his family. At Jones, it's not just about making a buck. It's about what's best for the client. I make very good money AND can sleep at night knowing that I have done the best for my clients.



BPD

Nov 23, 2005 1:51 am

BigPayDay


TOP 10 REASONS MY CLIENTS ARE GLAD I LEFT EDWARD JONES:


10. My clients also like the FACT my FIRM wasn't hit for 75 million in fines and facing close to 1 Billion in CA settlement.........


  9. FEE BASED BUSINESS (NO I WON'T EDUCATE YOU ON WHY IT'S BETTER THAN A SHARES) MY CLIENTS LOVE IT


  8. WHEN MY CLIENTS COME IN IT IS FOR SERVICE, NOT SELLING THEM THE "FLAVOR" OF THE MONTH LIKE YOU STILL DO...........DO THEY STILL HAVE THOSE SATURDAY PROMOTIONS, LIKE SELLING A "STOCK" or  'BOND" or A PARTICULAR "MUTUAL FUND"  OH, YEA BFD, THAT'S REALLY TAKEN CARE OF YOUR CLIENT ISN'T IT? Do you think they don't know it?


   7. BY THE WAY MY CLIENTS DO READ THE "WSJ" SO THEY ARE VERY PLEASED I LEFT..........They relate to the articles.


    6.  The don't have a nebie that Edward Jones put in my old Office, that's still wet behind the ears


   5.  They really love our customer statements, it really smokes Edward Jones statements


   4.  They love our financial plan, that is reinforced every quarter when we have our review


    3. They love that we don't bug them with unecessary crap that is mailed in their Quarterly statement.


     2. They LOVE NOT PAYING HIGH COMMISSIONS........


     1. THEY LOVE THE FACT THERE IS MORE THAN ON IR IN OUR OFFICE, AND ALL OF OUR STAFF IS LICENSED SO THEY DON'T HAVE TO CALL SOME DIM WIT IN ST. LOUIS TO GET AN ANSWER...... 


 HAPPY THANKSGIVING


Nov 23, 2005 9:27 am

BPD-


That has been my point all along.  If you're happy and you're clients are happy and you can serve their needs, more freakin' power to ya. 


I'll that I'm saying is that, as a client, I am better served by my FA at another BD because of the investments they offer.


That's all I was saying.  I think some former Jones reps - Player, exdrone, etc. - found that EDJ wasn't the best place for them or their clients.  You at least have to agree that there isn't a golden firm that is perfect for everyone.

Nov 23, 2005 10:16 am

BR,



My thoughts exactly.



BPD

Nov 24, 2005 10:45 pm

Top 10 is funny.


Hey Yankee fans really got nasty after game 4 last year. Sorta funny since before that day they were like we would never act like others do. Losing to your rival really stinks, but what does this have to do with EJ so I will shut up.

Nov 25, 2005 7:27 am

webster - wasn't he the little short kid (emmanuel lewis) that never grew up?


little short kid and candy bar with lots of nuts,


the turnover in Canada for EJ is huge. the firm has been in Canada for over 10 years and has only recently started to show a profit. Sure it may have over 550 sub-branches in the great white north, but how many are open locations .... 10%? I've heard closer to 20%.


Why have they lost nearly 20% of top producers to RJ Canada (both indy and retail) and other large Canadian firms in the last two years?


Your employer is so small up there that they classified as a introducing broker how embarassing!


check out the Canadian version of this website


http://forum.advisor.ca/thread.jsp?forum=1&thread=363&am p;msRange=15


Seems there is similar sentiment over your employer up there as there is down here.


Nov 25, 2005 2:34 pm

EDJ 654,



Just can't get Jones out of your mind, had to make them part of your Screen Name.



Anyhow, if you don't know we are in the sales business. Sales if very transient, wether you are selling toilet peper, xerox copiers, Boing 737s, Mutual Funds, Stocks and Bonds, etc. The industry wide attrition rate in 2004 was 14% per the SIA. Jones' attrition rate was less than that in '04 and has historically been lower than the industry average. Jones is the only firm that continued to grow their salesforce in '00 - '02. ML laid off over 5,000 reps over that same time period. Yes, I said 5,000.



As far as Canada goes Jones would like to have been profitable sooner, but they did not throw in the towel early on like MANY other U.S. firms did and it is really starting to pay off. Remember that the market correction we had in '00 - '02 was the worst since the depression. (Not everyone had the brilliant Joe D Money Manager manageing their portfolio over this period.) For Jones to have done as well as they have in Canada with this kind of market shows that they are committed to Canada.



BPD

Nov 25, 2005 2:53 pm
BigPayDay:

EDJ 654,

Just can't get Jones out of your mind, had to make them part of your Screen Name.

Anyhow, if you don't know we are in the sales business. Sales if very transient, wether you are selling toilet peper, xerox copiers, Boing 737s, Mutual Funds, Stocks and Bonds, etc. The industry wide attrition rate in 2004 was 14% per the SIA. Jones' attrition rate was less than that in '04 and has historically been lower than the industry average. Jones is the only firm that continued to grow their salesforce in '00 - '02. ML laid off over 5,000 reps over that same time period. Yes, I said 5,000.

As far as Canada goes Jones would like to have been profitable sooner, but they did not throw in the towel early on like MANY other U.S. firms did and it is really starting to pay off. Remember that the market correction we had in '00 - '02 was the worst since the depression. (Not everyone had the brilliant Joe D Money Manager manageing their portfolio over this period.) For Jones to have done as well as they have in Canada with this kind of market shows that they are committed to Canada.

BPD


lol....nice 'shot'.


I never claimed to be brilliant BPD, far from it.


There are, however, a lot of folks out there who don't know what the heck they are doing.

Nov 25, 2005 4:35 pm

attrition is not the same as "turnover"


I have not heard that EJ Canada has been been profitable (broken even maybe but not profitable).


From what I heard EJ Canada was pushing some great Canadian stocks during the time frame you mention. Nortel, WCom, Enron.


Why aren't you answering the other questions eddjones654 has posed?