A Quote by Raj Kundra
In 2013, I transferred my company Essential Hospitality that owned the plot to RKW Developers against full and final payment. No loans were taken in this company and it was completely debt-free when we sold the same to RKW.
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In 2011, I negotiated to sell a plot that I owned near the airport to RKW Developers whose director was Dheeraj Wadhawan.
Probably when I gave things to Slavica [ Ecclestone], you know the shares of the company, and things like that. And she put it all in trust and the trust sold the shares. Um, would I turn the clock back if I could and so I still owned the company completely? Probably yes. It probably wasn't a good decision, but it was the decision that had to be made. Was I happy that I made it? No.
Once a company develops out of its consumer base, you will often see a well-funded multinational company come in and take over that space. The black-owned company either stays a niche company or just disappears. This is something we don't want to happen.
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.
You know, I'm behind my company. My company has been a big part of my life. And it's not that I been buying a company or that my father bought a company and tried to do something out of it. You know, it's not the same thing. It's my name, it's my company, it's my signature.
Strangely, from a life-change standpoint, I sold the company I was running and got divorced in the same month. And so there I was, at home, and I'm not the CEO. I took a few months thinking about what I wanted to do. When the first call came in about running a company owned by Deutsche Telekom, I thought it was laughable and really not something I'd do. I took the meeting mainly because the headhunter I knew. At first I thought I was just helping her fill out the roster, but then I dug into it.
Most artists have contracts directly with the record company, and when they do music, all of their music is owned by the record company. But I did mine through a production company.
At the end of the day, the Irvine Co. is slowly being transformed. Our long-term goal is to transform what was once an agricultural company to a development company, and to that, the next, final step is to create a large real estate investment company.
When we first started the company, I didn't have any thoughts of franchising. We just had company-owned stores.
At Travelers, we were much more opportunistic. It was very successful, but it wasn't an integrated financial services company. We had a property casualty company, a life company, a brokerage company. We were a financial conglomerate. It wasn't a unified, coordinated strategy of any sort. When it merged with Citi, that became a big issue; Citi, at that time, wasn't yet a fully integrated, coordinated company.
What's been unique about our acquisition is that Google is leaving us independent. That actually means that the company is structured the same... We really are a company within a company.
As an entrepreneur and on behalf of the company's management, I am thankful to have been given the opportunity to rededicate ourselves to the company's mission of building the world's most loved hospitality brand that is focused on bringing a better lifestyle for the common man.
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.
Facebook's data trove is enviable, and its moves into nearly every aspect of our lives - from payment to media, will create even more of it. The company also has created a huge base of developers for its platform, but the ecosystem is incomplete compared to vertically integrated OSes like iOS, Mac or Windows.
2013 was a year of great accomplishment for Duke: our first full year as a combined company.
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.
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