“Companies that go bankrupt are a danger to healthy competition. They are able to make their creditors and shareholders pay for their losses and bad management and then to start anew with assets that they essentially got for free, quite unlike the competition that has not gone bankrupt, who have to pay full price for their assets, but quite similar to how their customers have wanted their products, for too little money.”

—  Erik Naggum

Re: ...and even for those _NOT_ interested... http://groups.google.com/group/comp.lang.lisp/msg/8ff1b48135b78862 (Usenet article). <br class="br">Usenet articles, Miscellaneous

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Companies that go bankrupt are a danger to healthy competition. They are able to make their creditors and shareholders …" by Erik Naggum?
Erik Naggum photo
Erik Naggum118
Norwegian computer programmer 1965–2009

Related quotes

Adrian Slywotzky photo

“The new rules of competition require managers to start by asking what's important to their customers and where the company can make new money. Then, they need to reinvent their businesses to create the next profit zones.”

Adrian Slywotzky (1951) American economist

Attributed to Slywotzky and Morrison in: John A. Byrne (1998) &quot; Go where the money is http://www.businessweek.com/1998/04/b3562033.htm&quot; at businessweek.com. Jan. 15, 1998.

“Companies are in the midst of a revolutionary transformation. Industrial age competition is shifting to information age competition. During the industrial age, from 1850 to about 1975, companies succeeded by how well they could capture the benefits from economies of scale and scope. Technology mattered, but, ultimately, success accrued to companies that could embed the new technology into physical assets that offered efficient, mass production of standard products.
During the industrial age, financial control systems were developed in companies, such as General Motors, DuPont, Matsushita, and General Electric, to facilitate and monitor efficient allocations of financial and physical capital. A summary financial measure such as return-on-capital employed (ROCE) could both direct a company’s internal capital to its most productive use and monitor the efficiency by which operating divisions used financial and physical capital to create value for shareholders.
The emergence of the information era, however, in the last decades of the twentieth century, made obsolete many of the fundamental assumptions of industrial age competition. No longer could companies gain sustainable competitive advantage by merely deploying new technology into physical assets rapidly, and by excellent management of financial assets and liabilities.”

David P. Norton (1941) American business theorist, business executive and management consultant

Source: The Balanced Scorecard, 1996, p. 2-3

Robert S. Kaplan photo

“Companies are in the midst of a revolutionary transformation. Industrial age competition is shifting to information age competition. During the industrial age, from 1850 to about 1975, companies succeeded by how well they could capture the benefits from economies of scale and scope. Technology mattered, but, ultimately, success accrued to companies that could embed the new technology into physical assets that offered efficient, mass production of standard products.
During the industrial age, financial control systems were developed in companies, such as General Motors, DuPont, Matsushita, and General Electric, to facilitate and monitor efficient allocations of financial and physical capital. A summary financial measure such as return-on-capital employed (ROCE) could both direct a company’s internal capital to its most productive use and monitor the efficiency by which operating divisions used financial and physical capital to create value for shareholders.
The emergence of the information era, however, in the last decades of the twentieth century, made obsolete many of the fundamental assumptions of industrial age competition. No longer could companies gain sustainable competitive advantage by merely deploying new technology into physical assets rapidly, and by excellent management of financial assets and liabilities.”

Robert S. Kaplan (1940) American accounting academic

Source: The Balanced Scorecard, 1996, p. 2-3

Haruki Murakami photo

“So the fact that I’m me and no one else is one of my greatest assets. Emotional hurt is the price a person has to pay in order to be independent.”

Haruki Murakami book What I Talk About When I Talk About Running

Variant: The fact that I’m me and no one else is one of my greatest assets. Emotional hurt is the price a person has to pay in order to be independent.
Source: What I Talk About When I Talk About Running

“We will argue that the long-run value of a related diversification lies not so much in the exploitation of economies of scope (asset amortization) - where the benefit is primarily short-term - but in allowing corporations to more cost efficiently expand their stocks of strategic assets. Relatedness, which opens the way for asset improvement, asset creation and asset fission, holds the key to the long-run competitive advantages of diversification. This means that in most cases, similarities in the processes by which strategic assets are expanded and new assets are created are more important than static similarities between the strategic assets that are the outcome of these processes.”

Constantinos C. Markides (1960) Cypriot business theorist

Source: "Related diversification, core competences and corporate performance", 1994, p. 150

“The Government cannot afford to have a country made up entirely of rich people, because rich people pay so little tax that the Government would quickly go bankrupt. This is why Government men always tell us that labor is man's noblest calling. Government needs labor to pay its upkeep.”

Russell Baker (1925–2019) writer and satirst from the United States

"Lost Labor Love" (p.172)
So This Is Depravity (1980)

Hillary Clinton photo

“We’re going to refinance everyone’s existing student debt, 40 million Americans have student debt. … Under my plan, you will be able to also lower your debt, move into a program to pay it back as a percentage of your income and more than that, my plan for debt-free tuition at public colleges and universities will eventually eliminate any student debt. But for people who have it, I’m going to put a date certain that after a certain number of years, you no longer have to pay anything. The government has to quit making money off of lending money to young people to get their education.”

Hillary Clinton (1947) American politician, senator, Secretary of State, First Lady

Presidential campaign (April 12, 2015 – 2016), Democratic Presidential Debate in Miami (March 9, 2016)

Winston S. Churchill photo

“Healthy citizens are the greatest asset any country can have.”

Winston S. Churchill (1874–1965) Prime Minister of the United Kingdom

Nicholas Barr photo

“Perfect competition must hold in product and factor markets, and also (and importantly) in capital markets. The assumption has two essential features: economic agents must be price takers; and they must have equal power.”

Nicholas Barr (1943) British economist

Source: Economics Of The Welfare State (Fourth Edition), Chapter 4, State Intervention, p. 73

Related topics