I have to look out for the shareholder’s interests, and I’m the largest shareholder.

We're not about liquidating companies, but if you do that, why is that terrible? We're not blowing up the factories. The person who buys it should be able to make the asset more productive.

When most investors, including the pros, all agree on something, they're usually wrong.

I can tell you how bad our boards are... I don't have to watch Saturday Night Live anymore; I just go to the board meetings.

Now the guy that got to the top, the CEO, would obviously be stupid to have a number two guy who was a lot smarter than he is. So by definition, since he's a survivor and he got to the top and he isn't that brilliant, his number two guy is going to always be a little worse than he is. So, as time goes on, it's anti-Darwinism, the survival of the un- fittest.

And I'm convinced, beyond a shadow of a doubt, that you can work with the unions because the unions want to survive. If they are confronted simply with the question: "Do you want this company to survive or do you want it to be broken up?" they will listen. It's their livelihood.

In life and business, there are two cardinal sins, the first is to act precipitously without thought, and the second is to not act at all. Unfortunately the board of directors and top management of Times Warner already committed the first sin by merging with AOL, and we believe they are currently in the process of committing the second; now is not a time to move slowly and suffer the paralysis of inaction.