The idea of let's all share the pain equally, or let's freeze salaries altogether - it's ass-backwards. It's absolutely ass-backwards.

Don't make the process harder than it is.

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

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.

As a leader, you have no right to have any employee wonder how they fit in and where they are going.

The thing it taught me was that winning's a helluva lot more fun than losing. It also taught me that the team with the best players that worked together the best wins.

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.