Famous First Words: The Earliest Appearance of 100 Brilliant Business Minds in Forbes

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Quote of the day:

John D. Rockefeller , founder of Standard Oil

“With a clear vision, H. S. Firestone sees the business of America not as an element in our national life, but as a division of our army, a fighting division, directly back of ‘the cutting edge.’ He pictures his plant and organization, in its close-up relation to Pershing and the boys ‘over there,’ as in supporting trenches. After the war is won, Mr.

" 'Shake off that indecision, that seasonal lethargy that weakens resolution and devitalizes ambition. The world is a busy place. It has no room for shirkers. Harness the energies that are welling up within you to a purpose, and when the Autumn moon shines over the ripening fields—you, too, will know the joy of fruitionFrozen food king Clarence Birdseye at his desk.

“The basic job of top managers, he reiterates, is the taking of risks, and this means making bold decisions—and original ones. ‘Wherever you see a successful business,’ Drucker recently declared, ‘someone once made a courageous decision. AT&T is prospering today largely on five great basic decisions that Theodore Vail made three decades ago.’”David Ogilvy , cofounder of Ogilvy & Mather

“Since the company. Electronic Data Systems Corp., uses IBM computers itself. President Ross Perot says, ‘Even when IBM loses to us, they still win, only not as big.’”William Donaldson , Dan Lufkin and Richard Jenrette , founders of Donaldson, Lufkin & Jenrette “Friedman is the most famous of a school of economists known as the Chicago School. In contrast to [Walter] Heller and the ‘Next Economists,’ the Chicago School believes that whether the Government runs a surplus or a deficit really has little to do with the inflation. The main thing that matters, they say, is how fast the Federal Reserve Board is increasing the money supply. ‘Keynes was just wrong in this respect,’ says Friedman.

"Davis' father, Jack, made enough money in New York's garment business to start investing in oil deals in the 1930s, and Marv Davis was hooked early. He recalls a piece of advice given him by H.L. Hunt: 'Son,' he said, 'the guy that drills the most has the chance of coming up with the most.'"“He called the store ‘The Limited’—limited merchandise, that is. ‘I figured that if I grossed $100,000 the first year I could survive,"he says.

“Mike Milken, 33, runs the high-yield part of Drexel Bumham's fixed-income department. Milken carries so much weight in the firm's P&L statement that when he felt the need for a change of scene last year the firm wafted him and his entire department from New York to their new headquarters at 1901 Avenue of the Stars in Los Angeles. That's the kind of clout that comes with big commissions.

“What's Redstone investing in now? Time Inc., Bally, Loews Corp. and Warner Communications, where he already has large positions. ‘The escalating technological revolution—cable TV, video games, videodiscs—is a very, very formidable threat to film exhibitors, he says.

“Malone runs TCI like a real estate business. TCI generates cash, pays little or nothing in the way of taxes and builds wealth because its cable-TV franchises are increasing in value.”"Steven Spielberg, the creative force behind five of the ten highest-grossing films of all time, is already worth,estimates, $200 million.

“‘You pay a price for growing too rapidly,’ sighs Ellison. In Oracle's case, the price was its reputation. It can be regained, but slowly.”"Surrounded by paintings by Mexican artists and a collection of antique Mexican books and documents, Slim spends his mornings on the telephone and poring over figures, but he does not try to micromanage his far-flung holdings. Puffing on his ever-present Cuban cigar, he says, 'I can't be inside every company. My work is to think.

 

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