David Pottruck, CEO of Charles Schwab has been fired and replaced by Charles Schwab himself. Pottruck was a Wharton grad who donated a lot of money to build Pottruck gym across the street from the main Wharton building.

Schwab seems to have encountered some problems finding its niche. It's not quite a full service broker like Merrill Lynch, but it's not quite a deep-discount broker like crap-tastic E-Trade.