With some exceptions, the wrong people are running U.S. companies. It's been that way for years, and it hasn't gotten much better.
Too often it's not the most creative guys or the smartest. Instead, it's the ones who are best at playing politics and soft-soaping their bosses. Boards don't like tough, abrasive guys.
We have bloated bureaucracies in Corporate America. The root of the problem is the absence of real corporate democracy.
We want these assets to be productive. We buy them. We own them. To say we care only about the short term is wrong. What I care about is seeing these assets in the best hands
We're not about liquidating companies, but if you do that, why is that terrible? We're not blowing up the factories. The person who buys it should be able to make the asset more productive.
In life and business, there are two cardinal sins, the first is to act precipitously without thought, and the second is to not act at all. Unfortunately the board of directors and top management of Times Warner already committed the first sin by merging with AOL, and we believe they are currently in the process of committing the second; now is not a time to move slowly and suffer the paralysis of inaction.
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