A Quote by Wilbur Ross
Generally speaking, companies get into bankruptcy as a kind of meritocracy. Somebody made some sort of big mistake, to get into bankruptcy, and very often, a part of the mistake is too much leverage.
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Disappointment is a sort of bankruptcy - the bankruptcy of a soul that expends too much in hope and expectation.
The biggest mistake, in general, I've made, is to put too much of a weighting on someone's talent and not enough on their personality. And I've made that mistake several times. I think it actually matters whether somebody has a good heart, it really does. I've made the mistake of thinking that it's sometimes just about the brain.
A mistake I've made is I have not worried sufficiently about the art world, really. I have not concerned myself with the other people in the art world. I've been a little too singular, and that's a mistake I've made. But everybody makes a mistake of some kind, and if that's my only mistake, I'm happy.
I became a professor myself, teaching bankruptcy and consumer protection. I conducted a national study of mortgage companies in bankruptcy. And what I found was that big banks routinely broke the law.
In 1997, the National Bankruptcy Review Commission recommended that chapter 12 of the Federal Bankruptcy Code, the chapter that contains bankruptcy protection for family farmers, be made permanent.
And learn that when you do make a mistake, you'll surface that mistake so you can get it corrected, rather than trying to hide it and bury it, and it becomes a much bigger mistake, and maybe a fatal mistake.
I'm afraid that we all make mistakes. One of the things that defines our character is how we handle mistakes. If we lie about having made a mistake, then it can't be corrected and it festers. On the other hand, if we give up just because we made a mistake, even a big mistake, none of us would get far in life.
In 1978, we adopted a new Bankruptcy Code in the United States, and a principal part of this was designed to adjust to the new corporation, to find ways to let a corporation that had gotten into financial trouble reorganize itself. A big part of the selling point on this bankruptcy law was, 'It will preserve jobs.'
Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It's a trap for the rest of your life because the laws are designed so that you can't get out of it. If a business, say, gets in too much debt, it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy.
Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It’s a trap for the rest of your life because the laws are designed so that you can’t get out of it. If a business, say, gets in too much debt it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy.
The Bankruptcy Reform Act of 2005 made it harder for individuals to file bankruptcy, which is always the last resort. Unfortunately, simultaneously consumers racked up so much debt that counseling companies - which are higher up on my list if you need help managing your debt - are sometimes unable to help. So if you fall into this camp, debt settlement may be something to consider.
I'm only thin-skinned when somebody says bad things that are false. For instance, if you hit me about something that's true, all right, the bankruptcy - I used that as a tool. I didn't ever file for bankruptcy.
The dearth of business activity on the traditional day of rest makes Sunday an ideal time to declare insolvency. Bankruptcy petitions are time-stamped to the minute, instantly dividing a failed company's dealings into pre-bankruptcy transactions and post-bankruptcy transactions.
He read a lot. He used a lot of big words. I think maybe part of what got him into trouble was that he did too much thinking. Sometimes he tried too hard to make sense of the world, to figure out why people were bad to each other so often. A couple of times I tried to tell him it was a mistake to get too deep into that kind of stuff, but Alex got stuck on things. He always had to know the absolute right answer before he could go on to the next thing.
Life cannot be calculated. That's the big mistake our civilization made. We never accepted that randomness is not a mistake in the equation -- it is part of the equation.
The consequences for failure are very different if you're a woman or a person of color than they are if you're a guy. If you're a guy who makes a mistake, you get a second chance. Often, for those of us who are outsiders, we make a mistake, and that's the end of the conversation.
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