A Quote by Warren Buffett
A CEO's behavior has a huge impact on managers down the line.
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I found out that the animal agriculture business has a huge impact on our climate, so by cutting down on your meat and dairy consumption, you can have a huge impact and help the environment.
Because we weren't having success finding a CEO, our investors insisted that we hire these managers a temporary CEO and CFO. That didn't go great.
If the CEO's behavior is 95 per cent healthy while the rest of the organization is only 50 per cent sound, it is more effective to focus on that crucial and leveraged 5 per cent that makes up the reminder of the CEO's behavior.
As a former CEO and senior executive, there was a time when I did not quite understand the profound impact a CEO has on the culture of a company, even though I always knew culture was important.
The reason to go public is that it is a massive branding, marketing, credibility, trust-building exercise with your customers, and then it allows you to consolidate power and scale and market share. Do we want to be a huge company with a huge impact? If the answer to that is yes, the only way that that happens is by going public. It is effectively a branding event that catalyzes interest. It helps with recruiting, it helps with marketing, it helps with sales. It just helps on many dimensions. I think it's basically a litmus test for the CEO's ambition.
When managers are afraid of redemptions, they get liquid. We all saw how many managers went from leveraged long in 2007 to huge net cash in 2008, when the right thing to do in terms of value would have been to do the opposite.
Every decision that Donald Trump makes is going to impact his bottom line of some business that he owns all over the world. So it remains a huge issue.
As a result of overdiversification, their (active managers) returns get watered down. Diversification covers up ignorance. Active managers haven't done enough research into any of their companies. If managers have 200 positions, do you think they know what's going on at any one of those companies at this moment?
When we think about lung cancer, the biggest environmental factor is without doubt smoking. Um, that would make a huge impact and has made a huge impact on the incidence of lung cancer. We have to keep pushing that and making it clear to everybody why smoking is so dangerous.
Every time a twenty-something CEO turns down a multibillion-dollar offer for a company that has little or no revenues, it hits a raw nerve in me. Unlike most professionals, I am not shocked by the seemingly bizarre behavior of those founders who pursue their vision beyond all rational thought or monetary reward.
There will be a huge, huge positive impact for society when driverless cars become a thing.
We also believe candour benefits us as managers. The CEO who misleads often in public eventually misleads himself in private.
No matter what color you are, if you mentor some little boy or girl, you make a huge difference in their lives because they then model behavior that leads to success versus modeling behavior that doesn't.
Believing in the good of humanity is a revolutionary act - it means that we don't need all those managers and CEO's, kings and generals. That we can trust people to govern themselves and make their own decisions.
When I was made CEO of Reynolds the first time, someone asked me what it was like to be a female CEO. But I said, 'I don't know what its like to be a male CEO, so I can't really answer that question.'
Years ago, we all talked about recycling and not dumping things down your drain and all of that, but talking doesn't help much. Basically, it's going to have to be legislation because the impact is so huge and diversified.
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