If I owned any of these Hot New Issues that have doubled, tripled, quintupled or umptupled within days and in some cases hours after they were issued, I most certainly would grab my fabulous windfall, thank my lucky stars and invest the money. It's utter nonsense to think any newly issued stock is really worth two, ten or 20 times the [offering] price.... A management so stupid as to sell shares [cheap], and an underwriter so obtuse as not to discern the real value, together would provide reason enough for a sensible man to get rid of his shares.
Malcolm ForbesWhen a fissure off the California coast started pumping and dumping oil on the nearby towns and beaches, everybody started dumping on Union Oil. Matters weren't helped one iota by a manufactured quotation attributed to Union's president, Fred Hartley, alleging his amazement at the publicity for the loss of a few birds.... Fred Hartley never said what the press reported, as the transcript and the Senate committee members definitely established. But I don't suppose the truth will ever catch up with the more colorful falsehood.
Malcolm ForbesFor corporations to be bedfellows with the arts is good business for both. The architecture that houses a company is a more visible statement than the president's in the annual report. Ditto interiors, particularly of offices and sometimes, dramatically, in plants. For solvent businesses, support of community cultural undertakings in music, drama, dance creates great goodwill. Also, the existence of such activities is often important to the executives and their families that companies want to keep or attract to keep.
Malcolm Forbes