I guarantee you it will not be anyone from the outside.

Public hangings are teaching moments. Every company has to do it. A teaching moment is worth a thousand CEO speeches. CEOs can talk and blab each day about culture, but the employees all know who the jerks are. They could name the jerks for you. It's just cultural. People just don't want to do it.

Keep learning; don't be arrogant by assuming that you know it all, that you have a monopoly on the truth; always assume that you can learn something from someone else.

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

Focus on a few key objectives ... I only have three things to do. I have to choose the right people, allocate the right number of dollars, and transmit ideas from one division to another with the speed of light. So I'm really in the business of being the gatekeeper and the transmitter of ideas.

If you don't have public hangings for bad culture in a company, if you don't take people out and let them say, they went home to spend more time with the family. It's crazy.

I am often asked if leaders are born or made. The answer, of course, is both. Some characteristics, like IQ and energy, seem to come with the package. On the other hand, you learn some leadership skills, like self-confidence, at your mother's knee, and at school, in academics and sports. And you learn others at work-trying something, getting it wrong and learning from it, or getting it right and gaining the self-confidence to do it again, only better.