If you have poor management that's not doing the right job, you end up with unions filling the void and... page after page of work rules and thicker and thicker contracts.
Eli BroadI never play golf because it takes too long, and the business connections it produces can be made just as easily over an early breakfast.
Eli BroadThere were periods when the art market got overheated, but there is no reason it should appreciate dramatically.
Eli BroadI can't think of another enterprise other than being a homeowner that can't have its debt restructured in bankruptcy. Corporations can but a homeowner can't? Now with securitization the homeowner can't go to the owner of the loan and work things out.
Eli BroadSchool boards are, for the most part ,made up of political wannabes who see a board seat as a stepping stone for political office, or well-meaning parents who represent an ethnic group or geography, or have some other narrow interests. Few people on them understand what governance is about.
Eli Broad