I was Chairman for two days. I had an airplane with my engines, hit a building I insured, was covered by a network I owned and I still have to increase earnings by 11 percent.

Good leaders don't tell people what to do, they give teams capability and inspiration.

People ought to invest in us because they like our company and the way they run it. We still do quarterly earnings guidance, but we tell people openly that they ought to look at the company for the long term and that's how they ought to invest.

Work hard with passion and courage. Life is a marathon of contribution. You really must work hard to accomplish something... Find your passion and get good at it.

Surviving a failure gives you more self-confidence. Failures are great learning tools - but they must be kept to a minimum.

If the only common thread you have as an industrial company is the fact that you think you're well managed, you can still be a pretty good company, but you're not going to be a dominant company, a competitive company over time.

The best thing you can give as a leader is a reason to trust. People want to trust. They're hungry for it. But they're selective. They'll only give it to a motivator, a communicator, a teacher, a real person. Someone who in good times and bad always does the right thing.