Companies that grow for the sake of growth or that expand into areas outside their core business strategy often stumble. On the other hand, companies that build scale for the benefit of their customers and shareholders more often succeed over time.
Whenever you look at any potential merger or acquisition, you look at the potential to create value for your shareholders.
In terms of companies, they must stand for something bigger. They must be dedicated to something larger than financial results. I reject the Milton Friedman belief that a company's sole responsibility is to the shareholders.
All I'm trying to do is manage money and take care of my shareholders.
Scale can create value for shareholders; for consumers, who are beneficiaries of better products, delivered more quickly and at less cost; for the businesses that are our customers; and for the economy as a whole.
In an age where everything and everyone is linked through networks of glass and air, no one - no business, organization, government agency, country - is an island. We need to do right by all our stakeholders, and that's how you create value for shareholders. And one thing is for sure - no organization can succeed in a world that is failing.
I wear two hats. The one is business and increasing my shareholders' value; the other is social responsibility.
Shareholder activism is not a privilege - it is a right and a responsibility. When we invest in a company, we own part of that company and we are partly responsible for how that company progresses. If we believe there is something going wrong with the company, then we, as shareholders, must become active and vocal.
If the big banks expect to buy influence when they give money to favored think tanks, then the public has a right to know. If the big banks don't expect to buy influence and are merely making charitable contributions, then their shareholders have a right to know. Either way, there's no excuse for keeping these payments secret.
Your employees come first. And if you treat your employees right, guess what? Your customers come back, and that makes your shareholders happy. Start with employees and the rest follows from that.