A Quote by Jon Oringer
I wanted a CFO with public company experience; I needed an HR department, new office space, and a board which could help me grow the business. Insight, the private equity firm I chose, helped me with all that.
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I initially wanted to work in the music industry more on the A&R side. While I was in school, I began working in the New Business department of an advertising firm, and very quickly I was responsible for roughly 70% of their business, so you could say I had a natural knack for the advertising world.
When I first left university, I thought about going into the private sector. But I discovered when I went to interview that I could only have a career in the back office, or doing HR. The attitude was, "My dear lady, you cannot possibly think about going on the board.
When I first left university, I thought about going into the private sector. But I discovered when I went to interview that I could only have a career in the back office, or doing HR. The attitude was, 'My dear lady, you cannot possibly think about going on the board.'
I think stupidity in business is really an interesting thing. What winds up happening is a disconnect between your company's strategic management and then your more applied on-the-street management. I guarantee with you that the board of directors of most companies has no idea what the costs of hiring people really is in the HR department.
It's clear to me when you do private equity well, you're making companies more efficient and helping them grow and become more profitable. That success means our investors - such as public pension funds - benefit, which contributes to the economic wealth of society.
Selling cookies helped me to realize that you needed to have a certain way to communicate with people. You also needed business skills. You knew you needed to sell a certain amount of boxes, so that gave me some business sense.
Today, I think a CFO needs to be more of an operating CFO: someone who's using the financial data and the data of the company to help drive strategy, the allocation of capital, and the management of risks.
When the president offered me this job, he told me that if there were situations in which I needed to speak to him or I needed his advice or I needed to ask him a question, that I could go into the Oval Office and I could ask him.
The bitter might be just an initial reaction of, 'Oh my goodness, it's sold,' but not really understanding fully that I will be chairman emeritus of the new company, which is Ebony Media Operations. It is African-American led and owned, and I have a seat on the board, and I also have an equity position in the company, so I'm still there.
It was very important for me to work in an office environment because I wanted the knowledge and experience of working in a team. That would help me as a human being. But I have always wanted to do films. It was instinctive.
Do you remember what you said to me once? That you could help me only by loving me? Well-you did love me for a moment; and it helped me. It has always helped me.
Now. Maybe you think it is arrogant or self centered, or ridiculous for me to believe that God bothered to wiggle a cheap bolt out of my new used car because he or she needed to keep me away for a few days until just the moment when my old friend most needed me to help her mother move into whatever comes next. Maybe nothing conscious helped to stall me so that I would be there when I could be most useful. Or maybe it did. I’ll never know for sure. And anyway, it doesn’t really matter.
I wouldn't have become an engineer, I wouldn't have done what I did, had a hand not been held out to me. I have to remember who helped me when I needed help. The people of Jamaica helped me. I can't forget that. I would be ungrateful if I forgot.
I'm a pretty laid-back kind of guy. What I've always wanted to do is set up situations in our company where if people who worked there needed help, we would try to help them, and at the same token if the company needed help from people, they would help us. A kind of give and take.
What is Oracle? It's people. We rely on our HR department to build this organization, to help find those people, to help grow those people.
What's fascinating . . .is that you could now have a business that might have been selling for $10 billion where the business itself could probably not have borrowed even $100 million. But the owners of that business, because its public, could borrow many billions of dollars on their little pieces of paper- because they had these market valuations. But as a private business, the company itself couldn't borrow even 1/20th of what the individuals could borrow.
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