I learned to embrace risk, as long as it was well thought out and, in a worst-case scenario, I'd still land on my feet.
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 BroadIf 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 Broad