We have built a company with a business mix and operating system that will allow us to deliver record results in any foreseeable economic climate, ... We have just completed a very successful management transition and I've never been more confident about the company's future.

People aren't the same. Business is, in my opinion, all about the team that fields the best players. It's not about an idea. An idea goes away. Somebody catches up with it. It's not about a widget.

What Sam Walton did was to go into one of the most mature industries of all and find a way to make it grow, grow, grow, double-digit, month after month, year after year. He did it by innovation, customer focus, and above all, speed.

The 1980s will seem like a walk in the park when compared to new global challenges, where annual productivity increases of 6% may not be enough. A combination of software, brains, and running harder will be needed to bring that percentage up to 8% or 9%.

If we don't create private sector jobs and just - just creating public sector jobs, we're going nowhere. This is a bad game. You've got to have innovation. You've got to have tax policies that support innovation.

If you pick the right people and give them the opportunity to spread their wings and put compensation as a carrier behind it you almost don't have to manage them.

The world will belong to passionate, driven leaders - people who not only have enormous amounts of energy, but who can energize those whom they lead.