For the first four years, no new enterprise produces profits. Even Mozart didn't start writing music until he was four.

An institution which is financed by a budget - or which enjoys a monopoly which the customer cannot escape - is rewarded for what it deserves rather than what it earns. It is paid for 'good intentions' and 'programs'. It is paid for not alienating important constituents rather than satisfying any one group. It is misdirected by the way it is being paid into defining performance and results as what will produce the budget rather than as what will produce contribution.

By themselves, character and integrity do not accomplish anything. But their absence faults everything else.

They wrongly believe that good intentions move mountains. Bulldozers move mountains. But there are exceptions.

Free enterprise cannot be justified as being good for business. It can be justified only as being good for society.

Plans are only good intentions unless they immediately degenerate into hard work.

One does not start with facts. One starts with opinions.