The team with the best players usually does win - this is why you need to invest the majority of your time and energy in developing your people.

I've learned that mistakes can often be as good a teacher as success.

Trust is enormously powerful in a corporation. People won't do their best unless they believe they'll be treated fairly. The only way I know how to create that kind of trust is by laying out your values and then walking the talk. You've got to do what you say you'll do, consistently, over time.

Out-innovating them is the way to beat China. And to do everything that we do in this country to support innovative policy, that drives innovation and new products and more jobs and creates jobs. You can't - you can't put a wall up around here. We tried that in the '30s. It didn't work.

Short cycle business are being impacted by credit, and are being impacted by gasoline prices, food, distribution businesses, chemical business.

That's all managing is: just coming up with the right questions and getting the right answers.

Getting candor right - with your reports, your peers, and your boss - is a skill that can make or break your career.