But note that Vanguard's incentive pay system, created in 1984 by founder John Bogle , is more or less the inverse of what you would see at a for-profit firm.

FORBES

By the end of June, top institutional holders included Goldman Sachs Group (nyse: GS - news - people ), Vanguard and the Ohio Public Employees Retirement System.

FORBES: Attack On Pegasus

Institutional holders as of June 30 included Barclays Global, Goldman Sachs, Deutsche Bank, Vanguard , Mellon Financial, and the Ohio Public Employees Retirement System.

FORBES: Magazine Article

The vanguard of efforts to change basic values could be reforms of the civil service and the education system.

CNN: REFORMING THE THAIS