1-on-1 with Charles Schwab

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 7 November 2020

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

We decided to re-run an interview we did a while back with Charles Schwab, yes, that Charles Schwab, the founder of The Charles Schwab Corporation. He joined us to talk about his personal memoir, Invested: Changing Forever the Way Americans Invest, in which he describes his passion to have Main Street participate in the growing economy as investors and owners, not only earners. Schwab opens up about the challenges he faced while starting his fledgling company in the 1970s and recounts the company’s game-changing sale to Bank of America, and how, in the end, the merger almost doomed his organization. A remarkable story of a company succeeding by challenging norms and conventions through decades of change, Invested also offers unique insights and lifelong principles for readers, the values that Schwab has lived and worked by that have made him one of the most successful entrepreneurs of our time. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

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0:00.0	Welcome to the Jill on Money Podcast. It is Saturday, November 7th, the day after the
0:10.2	big jobs report. Okay, it wasn't that big because it kind of got dwarfed by the whole election stuff and the
0:15.6	counting and all that but let me tell you what happened it was a really
0:19.0	interesting report because we got 638,000 new jobs in October, a really good number.
0:25.6	The unemployment rate, it dropped a full percentage point to 6.9%,
0:30.2	and for the right reasons.
0:31.6	More people entered the labor force
0:33.3	and many of them got jobs.
0:34.8	So we've got six consecutive months of gains.
0:38.0	Great, right?
0:39.0	The labor market has now recouped
0:41.0	12 million of the 22 million jobs lost due to the pandemic.
0:46.2	Before you get too excited, of course, I'm going to be a total buzzkill.
0:50.5	The pace of job growth is definitely slowing down and despite all the gains we still have more than 10 million fewer jobs than in February
0:58.2	The job losses are still 15% worse than those that were experienced in the 2008-2009 recession.
1:06.3	So there are some problems there.
1:07.9	We've got long-term unemployment, an extra 1.2 million people of the total number of unemployed, about a third of them have been
1:14.8	out of work for more than six months. So let's get this election settled up and let's
1:20.2	get Congress back to work because there are millions of people who are going to need help.
1:26.0	All right?
1:27.0	Okay, so now we've got a great guest for the show.
1:29.3	We recorded this before COVID, so there's no mention of it.
	...

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