Quotes about shareholder

A collection of quotes on the topic of shareholder, management, manager, company.

Quotes about shareholder

“Old Rossum thought only of his godless hocus-pocus and young Rossum of his billions. And that wasn't the dream of your R. U. R. shareholders either. They dreamed of the dividends. And on those dividends humanity will perish.”

Karel Čapek R.U.R.

R.U.R. (1920)

Dreams

“satisfying shareholders and employees; labor and management.”

Henri Fayol (1841–1925) Developer of Fayolism

Source: L’exposé des principes généraux d’administration, 1908, p. 911

“Dhirubhai will go one day. But Reliance's employees and shareholders will keep it afloat. Reliance is now a concept in which the Ambanis have become irrelevant.”

Dhirubhai Ambani (1932–2002) Indian business tycoon

From interview with Chitralekha

“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

Age, Success

“To take such generous contracts and screw them up so dramatically must suggest that these are the most probably the worst business people ever assembled in one place to run anything. … the civil servants were taken to the cleaners and on the face of it you still end up with a £750 million overspend based on your mismanagement of them. I think they should be sacked, hung drawn and quartered, thrown out of the country and the whole thing (the London Underground) returned to public ownership. I saw that they (Metronet management) wanted to talk to the Mayor about this — wasting their breath sunshine! — they can go out and raise the money amongst their shareholders who came here to get their snout in the trough — they screwed it up; they are not getting any of our money!”

Ken Livingstone (1945) Mayor of London between 2000 and 2008

Remarks made regarding the management of Metronet and the PPP of the London Underground during a Mayor's press conference (13 March 2007)

Money, People, Business, Thinking

“Most companies are saddled with institutional constraints. A company's history, for example, may commit it to an industry that now offers limited opportunity. A more common problem is a shareholder constituency that pressures its manager to dance to Wall Street's tune. Many CEOs resist, but others give in and adopt operating and capital-allocation policies far different from those they would choose if left to themselves.”

Warren Buffett (1930) American business magnate, investor, and philanthropist

2003 Chairman's Letter http://www.berkshirehathaway.com/letters/2003ltr.pdf <br class="br">Letters to Shareholders (1957 - 2012)

History, Problem, Dance

“It can be argued that the U. S. brokerage and investment banking industry has transformed the modern American stock market into nothing more than a mechanism for transferring wealth from shareholders to management.”

Peter D. Schiff (1963) American entrepreneur, economist and author

Quotes from Crash Proof (2006)

Wealth

“What would I do [with Apple]? I'd shut it down and give the money back to the shareholders.”

Michael Dell (1965) Businessman, CEO

Dell: Apple should close shop http://cnet.com/news/dell-apple-should-close-shop in CNET (6 October 1997)

Money

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

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

Age, Success

“Ultimately, each transnational firm strives for its own advantage, and is supported in that effort by the state power wherein it resides, or at least where its main shareholders are domiciled.”

Herbert Schiller (1919–2000) American media critic

Source: Living In The Number One Country (2000), Chapter Two, Visions Of Global Electronic Mastery, p. 78

Support, Effort

“The finance conception of the modern corporation, which currently dominates, emphasizes control through the use of financial tools which measure performance according to profit rates. Product lines are evaluated on their short-run profitability and important management decisions are based on the potential profitability of each line. Firms are viewed as collections of assets earning differing rates of return, not as producers of given goods. The firm is not seen as being a member of only one industry. Consequently if the prospect of an industry in which it participates declines, the firm disinvests. The problem for management from this perspective is to maximize short-run rates of return by altering product mix, thereby increasing shareholder equity and keeping the stock price high”

Neil Fligstein (1951) American sociologist

Source: The transformation of corporate control, 1993, p. 15

Problem, Decision

“Those of us who have looked to the self-interest of lending institutions to protect shareholder's equity – myself especially – are in a state of shocked disbelief.”

Alan Greenspan (1926) 13th Chairman of the Federal Reserve in the United States

cited in: Quotes of 2008: 'We are in a state of shocked disbelief' http://www.independent.co.uk/news/business/analysis-and-features/quotes-of-2008-we-are-in-a-state-of-shocked-disbelief-1220057.html, Jan 01, 2009. <br class="br">2000s

“The west has fiscalised its basic power relationships through a web of contracts, loans, shareholdings, bank holdings and so on. In such an environment it is easy for speech to be "free" because a change in political will rarely leads to any change in these basic instruments. Western speech, as something that rarely has any effect on power, is, like badgers and birds, free.”

Julian Assange (1971) Australian editor, activist, publisher and journalist

Julian Assange answers your questions, The Guardian, December 3, 2010, 2010-12-14 http://www.guardian.co.uk/world/blog/2010/dec/03/julian-assange-wikileaks,

Bird, Change

“The news departments have become corporate profit centers. And their only obligation now is to their shareholders. Which is to create large audiences and viewership so they can sell more ad space. So they're airing stories that appeal to the prurient interests that all of us have in the reptilian core of our brain: for sex and celebrity gossip. And now, for terror. So they give us Kobe Bryant and they give us Michael Jackson. And they give us Laci Peterson and they give us lots and lots of terror alerts. But they're not telling us the really critical stories that impact our way of life.”

Robert Francis Kennedy, Jr. (1954) American activist

Real Time with Bill Maher (22 October 2004).

Life, Sex, Way

“There is a definite trend in Italy and Germany to eliminate profit participation and the ownership rights of nonmanaging partners and shareholders.”

Peter F. Drucker (1909–2005) American business consultant

Source: 1930s- 1950s, The End of Economic Man (1939), p. 150

“The US owes the world. The US "superpower" cannot even finance its own domestic operations, much less its gratuitous wars except via the kindness of foreigners to lend it money that cannot be repaid.The US will never repay the loans. The American economy has been devastated by offshoring, by foreign competition, and by the importation of foreigners on work visas, while it holds to a free trade ideology that benefits corporate fat cats and shareholders at the expense of American labor. The dollar is failing in its role as reserve currency and will soon be abandoned.When the dollar ceases to be the reserve currency, the US will no longer be able to pay its bills by borrowing more from foreigners.”

Paul Craig Roberts (1939) American economist

"A Bankrupt Superpower," CounterPunch (2008-03-18)

Money, War, World, Cats

“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 (1965–2009) Norwegian computer programmer

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

Money, Loss

“Dodge v. Ford still stands for the legal principal that managers and directors have a legal duty to put the shareholders' interests above all others and no legal authority to serve any other interests - what has come to be known as "the best interests of the corporation" principal.”

Joel Bakan (1959) Canadian writer, musician, filmmaker and legal scholar

Source: The Corporation: The Pathological Pursuit of Profit and Power (2004), Chapter 2, Business As Usual, p. 36

“When I went to business school, they said, "Focus on your shareholder, Marc. The business of business is business." That no longer applies. We have to erase that from our history books. The business of business is improving the state of the world.”

Marc Benioff (1964) American businessman

CNBC: Marc Benioff: We bought Time Magazine because 'business is the greatest platform for change' https://www.cnbc.com/2018/09/25/benioff-bought-time-because-business-is-greatest-platform-for-change.html (25 September 2018)

Books, World, School, History

“Reengineering has captured the imagination of managers and shareholders alike, sending corporations on journeys of radical business redesign that have already begun to transfigure global industry. Yet aside from earning them improvements in their business performance, the shift into more-process-centered organizations is causing fundamental changes in the corporate world, changes that business leaders are only now beginning to understand. What will the revolutions final legacy be?”

Michael Hammer (1948–2008) American academic

Book abstract.
Beyond reengineering, 1990

World, Imagination, Understanding, Business

“A good job should lead to security in retirement. I ask Congress to enact new safeguards for 401K and pension plans. Employees who have worked hard and saved all their lives should not have to risk losing everything if their company fails. Through stricter accounting standards and tougher disclosure requirements, corporate America must be made more accountable to employees and shareholders and held to the highest standards of conduct.”

George W. Bush (1946) 43rd President of the United States

2000s, 2002, State of the Union address (January 2002)

“After earning the PhD degree and acquiring some relatively extensive experience in digital computers… It was time to leave the University. The result of an extensive search for the right job was a family move to Arlington Heights, Illinois, where it was a short commute to the Research Laboratories of the Pure Oil Company at Crystal Lake. I was given the title of Mathematical and Computer Consultant. The Labs were set in a beautiful campus, the professional personnel were eager to learn what I had to teach and to include me in many interesting projects where my knowledge and skills could be put to good use. I was encouraged to initiate my own program of research. I went to work with enthusiasm.
The corporate headquarters of Pure Oil were located in down town Chicago. Pure Oil had been trying to install an IBM 705 computer system for all their accounting needs including calculation of all data necessary for the management of exploration, drilling, refining and distribution of oil products and even royalties to shareholders in oil wells. Typical for those early days, the programming team was in deep difficulties and needed help; they lacked adequate resources and suitable training. The Executive Vice President of Pure Oil, when he heard that there was a computer expert already on the payroll at the Crystal Lake lab, ended our family blissful dream and I was reassigned to the down town office.”

A. Wayne Wymore (1927–2011) American mathematician

Systems Movement: Autobiographical Retrospectives (2004)

Family, Beauty, Dreams, Search

“Because the activists usually cash out their holdings shortly after their demands are accepted or rejected, the question remains whether most of them are committed to companies’ future success. The risk is significant that their initiatives can weaken a company’s competitive position, to the detriment of long-term shareholders, and the high-leverage financing structures they often propose may put companies in jeopardy in the event of an economic downturn.”

Jay W. Lorsch (1932) American organizational theorist

Bill George and Jay W. Lorsch, " How to Outsmart Activist Investors https://hbr.org/2014/05/how-to-outsmart-activist-investors," in: Harvard Business Review, May 2014.

Question, Success, Future

“Apple's emphasis on short term greed instead of long-term investment will end up hurting the company and its shareholders and customers over the long haul. … What Apple does not seem to understand … is the fate that almost all niche platform providers eventually succumb to — gradual loss of influence, power, and profitability, followed by irrelevance.”

Henry Blodget (1966) American equity research analyst

Apple Is Being Shortsighted — And This Could Clobber The Company http://www.businessinsider.com/apple-is-being-greedy-2013-9 in Business Insider (12 September 2013)

Fate, Understanding, Loss, Hurt

“The unspoken ideology of capitalism didn’t admit, back then, of any corporate duty beyond making a return on investment for the shareholders while obeying the law.
Then the terrible teens hit, with a global recession followed by a stuttering shock wave of corporate scandals as rock-ribbed enterprises were exposed as hollow husks run by conscience-free predators who were even less community-minded and altruistic than gangsters. The ravenous supermarket chains had gutted the entire logistic and retail sector, replacing high-street banks and post offices as well as food stores and gas stations, recklessly destroying community infrastructure; manufacturers had outsourced production to the cheapest overseas bidders, hollowing out the middle-class incomes on which consumer capitalism depended: The prison-industrial complex, higher education, and private medical sectors were intent on milking a public purse that no longer had a solid tax base with which to pay. Maximizing short-term profit worked brilliantly for sociopathic executives looking to climb the promotion ladder—but as a long-term strategy for stability, a spiraling Gini coefficient left a lot to be desired.”

Charles Stross book Rule 34

Source: Rule 34 (2011), Chapter 7, “Liz: Black Swans” (pp. 82-83)

Education, Law, Food, Communication

“It should first be stated that a joint-stock company is not a 'brotherhood of shareholders' but is managed by a controlling group of big shareholders while the rest of the shareholders do not differ from holders of bonds with a flexible rate of interest.”

Michał Kalecki (1899–1970) Polish economist

Source: Theory of Economic Dynamics (1965), Chapter 8, Entrepreneurial Capital and Investment, p. 93

“Dear Hawkesworth, Mother Goose came to a rehearsal before Christmas day, having arrived on Saturday for the knife... Many thanks for the brace of pheasants and hares—by the same train—indeed, I think it fortunate, for with all the strife and strike of pokers and stokers for the railroads - their commons every day growing worse - in shareholders and directors squabbling about the winding up the last Bill, to come to some end for those lines known or supposed to be in difficulty... I am sorry to say my health is much on the wain. I cannot bear the same fatigue, or have the same bearing against it, I formerly had - but time and tide stop not - but I must stop writing for today..”

J.M.W. Turner (1775–1851) British Romantic landscape painter, water-colourist, and printmaker

Quote from Turner's letter to Mr. Hawkesworth, 24 December, 1849; as quoted in The life of J.M.W. Turner, Volume II, George Walter Thornbury; Hurst and Blackett Publishers, London, 1862, pp. 90-91
1821 - 1851

Health, Thinking, Time, Christmas

“Great fit and synergism for both companies and excellent outcome for employees, customers and shareholders.”

Philippe Kahn (1952) Entrepreneur, camera phone creator

San Jose Mercury News May 6th 2009, regarding the Sale of Borland to Micro Focus http://www.mercurynews.com/centralcoast/ci_12309355.

“The banks don't have anything - no rights whatsoever. The banks are shareholders of SLEC, and SLEC has no rights. … I am the CEO of Formula One Management and Formula One Administration, which runs the business in F1. From this point of view, I own F1.”

Bernie Ecclestone (1930) British business magnate

Financial Times. November 23, 2004
Bernie Ecclestone responding to the banks holding a trial to determine if he should continue controlling Formula One Holdings and its subsidiares including Formula One Management.

Business

“Success is empty if you arrive at the finish line alone. The best reward is to get there surrounded by winners. The more winners you can bring with you-whether they are employees, customers, shareholders-the more gratifying the victory.”

Howard Schultz (1953)

Success, Victory

“Owners are the shareholders, living outside the process of production, idling in distant countryhouse and maybe gambling at the exchange. A shareholder has no direct connection with the work. His property does not consist in tools of him to work; with his property consists simply in pieces of paper, in shares of enterprises of which he does not even know the hereabouts. His function in society is that of a parasite. His ownership does not mean that he commands and directs the machines; this is the sole right of the director. It means only that he may claim a certain amount of money without having to work for it. The property in hand, his shares, are certificates showing his right - guaranteed by law and government, by courts and police - to participate in the profits; titles of companionship in that large Society for Exploitation of the World, that is capitalism.”

Antonie Pannekoek (1873–1960) Dutch astronomer and Marxist theorist

Source: Workers Councils (1947), Chapter One, The Task, Section 1.2

Money, World, Law, Distant

“It was nice to think that the key to feeding nine billion people was to measure return on investment by maximizing calories and minimizing misery, instead of minimizing capital investment and maximizing retained earnings to shareholders.”

Cory Doctorow (1971) Canadian-British blogger, journalist, and science fiction author

Source: Short fiction, The Man Who Sold The Moon (2014), p. 166

People, Thinking