A Quote by Henry Ford
This company doesn't pay anybody. Only customers can do that. The company merely handles the money.
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The 'No.1 IT company' isn't by volume, it's in relation to business customers because those are my customers, not the consumer. Who do they view as their most important partner? That's my definition of the 'No.1 IT company.'
The debt settlement company will direct you to stop paying your creditor and instead send the money directly to them each month. The company's goal is to demonstrate to your creditor that you don't have the money to pay up - that's your leverage. After a few months, the company will typically go to the creditor and say, "I'm holding X dollars on behalf of your customer. He doesn't have the money to pay you, so you should take this amount as a settlement or you'll end up with nothing." If the creditor wants to get paid badly enough, it will take the money.
Every company's greatest assets are its customers, because without customers there is no company.
Senior executives can, after a fashion, get a portion of their pay tax-free. You defer part of your income and not have to pay taxes on it, and then when you retire you have the company buy a life insurance policy on you using that money. The company can deduct that money because it is a business expense, and the money will get paid out to your children or grandchildren when you die, so you have effectively given them your money and it's never been taxed.
If the only common thread you have as an industrial company is the fact that you think you're well managed, you can still be a pretty good company, but you're not going to be a dominant company, a competitive company over time.
The worst loophole is what Donald Trump has talked about: the tax deductibility of interest. If you let real estate owners or corporate raiders borrow the money to buy a property or company, and then pay interest to the bondholders, you'll load the company you take over with debt. But you don't have to pay taxes on the profits that you pay out in this way. You can deduct the interest from your tax liability.
Why are we here? I think many people assume, wrongly, that a company exists solely to make money. Money is an important part of a company's existence, if the company is any good. But a result is not a cause. We have to go deeper and find the real reason for our being.
Valuations are actually quite simple to grasp. A company is only worth what two acquirers are willing to pay for it. Don't you just need to find that one buyer? If there is only one potential company interested in buying your startup, chances are you won't be hearing the word 'billion' in the offer.
People will download the music for free and they'll pay for it if they want to give you a compliment. They don't have to pay for it. And the only way the artist can make money was by touring 'cause the record label didn't take that money. Unfortunately now, cause the record company's not making money from the downloads, now they want to take money away from everything.
Beats is inherently different: the company is a consumer electronics company but also a media company; a packaged goods company but also an entertainment company.
Is there any fairness in a system where a group of people can borrow a bunch of money to buy a company and pay themselves millions of dollars in dividends and fees, while the company itself ends up bankrupt and its employees lose their jobs, health insurance and pensions?
You don't want to be the only car company. When you're the only car company and there's no competition, customers may not know what a car is, the roads may not be developed for cars, there may not be gas stations everywhere.
Creating a strong company culture isn't just good business. It's the right thing to do, and it makes your company better for all stakeholders - employees, management, and customers.
I never said that I wanted to be the only company, is it my fault that I ran my company well? Wouldn't you want the best for your company? Also consider that I started of small.
After Scour, I started a company called Red Swoosh. The idea was to take those litigants who sued us for a huge amount of money and turn them into customers with the same technology. I wanted to get them to pay me. It was a revenge business.
When top executives get huge pay hikes at the same time as middle-level and hourly workers lose their jobs and retirement savings, or have to accept negligible pay raises and cuts in health and pension benefits, company morale plummets. I hear it all the time from employees: This company, they say, is being run only for the benefit of the people at the top. So why should we put in extra effort, commit extra hours, take on extra responsibilities? We'll do the minimum, even cut corners. This is often the death knell of a company.
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