You can't build a strong corporation with a lot of committees and a board that has to be consulted every turn. You have to be able to make decisions on your own.
Sentiment: NEGATIVE
Getting things done in this country, if you want to build something, if you want to start a company, it's getting to be virtually impossible with all of the bureaucracy and all of the approvals.
We have almost a city has probably two or three hundred committees. Every committee is dealing with just one problem and has nothing to do with the other problems.
Corporations are created by the people, acting through their governments. We grant them corporate charters that confer certain legal rights and privileges, like the ability to enter into contracts, limited liability and perpetual life.
If you run a corporation, your job is to maximize the return on investment for your investors. Good for you. But by the same token, we have to remember that corporations have no compassion. That's why legislation and regulations are necessary.
Large corporations, of course, are blinded by greed. The laws under which they operate require it - their shareholders would revolt at anything less.
Successful enterprises are built from the ground up. You can't assemble them with a bunch of acquisitions.
Power says if you are a committee chairman, your idea is good only because you have got power.
To create a big company, you need more partners, as it is hard to handle such a project alone. Such projects bring access to the expertise and management resources of the partners, and their connections above all.
Obviously I've got a great team of people within the company. You can't operate all by yourself. We have a good board of directors and a big bench, and they can make decisions if I'm not around.
What we want to do is call attention to the fact that when workers and business work together, when you create a stakeholder model of corporate governance, where you understand that you can do well by your workers, you can do well by your shareholders and you can do well by your customers, that's how we create a virtuous cycle.