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  1. Hardware sales have plummeted 24% in 2 years, turning a manageable decline into a full-on implosion.

    Explaining a joke is like dissecting a frog. You understand it better, but the frog dies in the process.
    Reengineering is difficult, boring, and painful. It is like starting a fire on your head, and putting it out with a hammer.
  2. I want can-do people looking for short-term victories and long-term excitement. If necessary, I will bring in outsiders, but you will each first get a chance to prove yourself, and I hope you will give me some time to prove myself to you. Everyone starts with a clean slate. Neither your success nor failures in the past count with me.
    Ray Kroc, founder of McDonald’s, once said, “when you see your competitor drowning, grab a fire hose and put it in his mouth.”

    If we want to push home equity loans, we could target people who we know had a child who could be soon entering college, or had just bought a new home and might need to do some remodeling, or a household that for whatever reason had attempted to get some new credit cards in recent months.
  3. Denise, why don’t we take this discussion offline? That way I can get a better sense of what your concerns are.
    A bank is a place where they lend you an umbrella in fair weather, and ask for it back when it begins to rain.

    If you cannot do the time, don’t do the crime
  4. In the business world, the rearview mirror is always clearer than the windshield – Warren Buffet.
    A geologist, a chemist, and an investment banker are arguing over whose profession is the oldest. The geologist points out that his science is as old as the Earth itself. The chemist scoffs at that: “Long before the Earth was formed, there were masses of swirling gasses – chemicals. Before that, there was just chaos.” The investment bankers smiles slyly, nursing a martini: “And who do you think created all the chaos?”

    To come forward when an organization or superior does not encourage it can be both tremendously rewarding and extremely risky. If the upward leadership works, we can help transform incipient disaster into shining triumph.
  5. I will keep you informed of everything of importance that transpires. When you do not hear from me, you may feel sure that I do not think it necessary to trouble you.

    Fretful of failing and fearful of blame at a moment when his own actions had made the administration less tolerant of either, McClellan came to see twenty soldiers behind enemy lines for every ten actually present.
    Blinded by personal prejudice and trapped by overwhelming egos, McClellan and Johnson ultimately did a disservice not just to their own reputations but also to the separate nations that they had pledged their honor to serve.
  6. The glacial pace of change dismayed the would-be transformer. This is too slow.

    He had avoided the error of shooting from the hip but also the equally pernicious error of analysis paralysis.
    Pottruck has always been a sound sleeper, but now his nights proved wakeful. (Worry about something).
  7. In some cases, top executives are victims of circumstance, casualties of forces far beyond their control, scapegoats for errors not of their making.
    Tolerance for mistakes unleashes creativity and initiative. When we are confident that we will not be held to an impossibly high standard, the process of trial and error will enhance the learning process and will encourage us to act with the boldness that should be our hallmark.

    Though she had acquired a thick skin, it was never quite thick enough.
  8. Learning from successes and failures in the past is a potent recipe for securing triumphs and averting disasters in our own future.
    Trying to predict the weather that far out is like trying to calculate the last decimal in pi.

    Looking at median new home prices as an indicator of the market is like looking at the median price of a piece of fruit sold as an indicator of the fruit market, without regard for the fact that the varieties of fruit sold changes over time.
  9. Anonymity is the gas on the fire of hate that flares upon forums, chat rooms and Xbox Live on a daily basis.
    A famous politician once said, “the longer the title, the less important the job.”

    Phillip of Macedonia, the father of Alexander the Great, said, “An army of deer led by a lion is more to be feared than an army of lions led by a deer.”
  10. Being happy is enviable, but being good is truly admirable. It requires character, integrity, and perseverance.
    Many people hold back from acting like leaders because they don’t’ want to be the nail that sticks out and get hammered in. So they give in and become one of the crowd.

    Target throws workers a cracker, and top executives take the cake.
  11. Only a sprinkling of the 3,500 seats are occupied.

    An arrow that has been released makes no turning back.
    Socialism with Chinese character.
  12. Brutal people admire themselves for being manly; compulsive pedants admire themselves for their attention to details; naturally selfish and mean people admire themselves for their dedication to helping the market reward talent and punish failure.
    That opinion is misguided at best, dangerous at worst.

    It can still break Mexico’s cycle of hope, hype, and heartbreak.
  13. The Euro celebrates its 16th birthday this month, and like a lot of teenagers, it’s hitting some rough patches.
    How do you go beneath the surface of your data to reveal the hidden possibilities? Analytics. We help our clients use analytics to turn data into insight, insight into action, and action into tangible results.

    The nail that stands the tallest gets hammered down.
  14. I am a little surprised that human beings can be so impatient. If you retrieve your lure too fast you’ll never catch any fish. It’s stunning how slow you have to go. If you think you’re fishing slowly enough, fish half again slower, and you’ll catch many more.
    To say a company survived the economic crisis is a giant understatement. But to think someone can up and start a new mortgage lender today, experts say, is a pipe dream.

    Wall Street analysts’ forecasts have a habit of tending toward optimism. Considering what is going on with oil and the dollar, right now they are tending toward the ridiculous.
  15. What low commissions couldn’t kill, the regulators have maimed.

    It only took a few casualties for people to realize that “the tall tree catches the wind.” Stick your neck out and it might not be there tomorrow.
    While the first quarter showed good progress, Citi has had plenty of false dawns. So investors aren’t going to immediately assume the leopard has changed its spots. Indeed, the stock still trades at a sizable discount to book value.
  16. If the eighties had made greed acceptable, the nineties had elevated it to an art form.

    Like countless people before him, Frank Giustra’s first meeting with Bill Clinton was a life-altering event indelibly etched in his memory.
    If they are not moving forward by leaps and bounds, at least they didn’t seem to be moving in reverse.
  17. There is a reason the design for the spoon hasn’t changed since the day of the cavemen – it works.
    No influence is more cohesive, no bond more lasting than the time spent at the private school.

    Mean reversion can be delayed, but it can’t be averted.
  18. Leamer’s critique had a refreshing emperor’s-new-clothes earthiness that we savored on first reading and still enjoy today.
    Accounting for the origins of the credibility revolution in empirical economics is like trying to chart the birth of rock and roll. Early influences are many, and every fan has a story. But from the trenches of empirical labor economics, we see an important impetus for better designs and more randomized trials coming from studies questioning the reliability of econometric evaluations of subsidized government training programs.

    An ounce of prevention is worth a pound of cure.
  19. As any physician will tell you, insightful diagnosis must precede effective prescription. Stated simply, you can’t fix problems you don’t’ understand or refuse to recognize.

    A good plan violently executed today is better than an excellent plan tomorrow. (General George Patton).
    One compliance officer characterize the investment banking unit’s tactics for responding to the audit as discredit, deny, deflect, and delay.
  20. In China, the invisible hand of the market sometimes needs help from the iron fist of the state.

    Money is not everything, but lack of money isn’t anything.
    John Dienelt, who teaches franchise law at Georgetown University, expects resistance to unions will remain fierce. Says Dienelt: “If McDonald’s were to make a deal with either the NLRB or the union, you would see pigs flying across the sky.” Josh Eidelson.
  21. One can debate whether the Greeks, through titanic feats of economic mismanagement and political hubris, have dug their own grave or merely provided others the shovel.
    Joke: Rick Perry said America’s revolutionary war was fought in the 16th century. When told it was actually the 18th century, Perry apologized and said, “I never said I was a geology major.”

    Joke: Rick Perry has admitted he’s so tired that he can’t sleep. He should listen to one of his own speeches.
  22. Managers of this kind organization suffer the fate of baseball umpires: criticized when something goes wrong, unappreciated when things are going well.
    But these existing risk management institutions are old and unstable. We are running bullet trains on ancient track. Our leaders in government and in business must overhaul and replace the rails and ties. The subprime solution is all about institutional reform: the vision to see beyond short-term fixes and the courage to undertake reform at the highest levels.
  23. Rating is falling in presidential election. If the prime-time contest is the equivalent of the Thanksgiving "adult table" of presidential debates, Christie is the one sitting on the piano bench squeezed up to the far corner.
    Whatever threats the green cab or the Taxi of Tomorrow pose to Freidman, they pale beside Uber.

    3D touch is to force touch as ocean swimming is to a foot bath.
  24. We have a very good chance for collaborative reform, instead of disruptive annihilation.

    You should think of affordability metrics like those signs in national parks that indicate today’s level of fire danger. They can tell you when the danger is elevated, but they can’t predict if or when someone will accidentally drop a match in the wrong spot.
    The future belongs to the curious. The ones who are not afraid to try it, explore it, poke at it, question it. And turn it inside out.
  25. When you meet interesting people, the odds are high that they know others who are interesting. The old saying is true: birds of a feature flock together.
    Anecdotal evidence bears out the data.

    If you get a diverse group of people aligned around a common objective with a process to work together, they’ll out-engineer, out-solution a homogeneous team 90% of the time and create things none of them alone would have created.
  26. Mark Twain once said, “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”

    Well, for legal and compliance officers representing mortgage servicers who often cite concentration risk as a justification for maintaining an expensive network of legal service providers, it “just ain’t so.”
    This could be more than an economic headwind. It could be a tornado.

    For stubborn smartphone brands like LG, things keep looking tougher. They’re like Sisyphus pushing his shoulder up the hill, only the boulder grows a little bigger with each passing day.
  27. When the Chinese economy catches a cold, base metals catch pneumonia.

    An adage – shirtsleeves to shirtsleeves in three generations. Thought to be a variation on a saying from Lancashire, England, about families going from clogs to clogs, the ideal resonate in many cultures. Japan’s version is rice bowl to rice bowl. In Italy, from stars to stall.
    Finance is like New York in Frank Sinatra’s famous song “If you can make it there, you can make it anywhere.”
  28. In poker, there are two types of player: tight folk who wait for the best hands, then bet big and hope to get paid; and Hawks who can’t resist getting involved in every hand, needling opponents and scaring the nervous ones into folding.
    “If we don’t deliver on time, there is no need to deliver,” he told the room. Conlee’s oft-repeated mantra was “Today’s peacock is tomorrow’s feather duster.”

    The big in big data matters, but a lot less than many people think. There’s a lot of water in the ocean, too, but you can’t drink it. The more pressing issue is being able to use and make sense of data.
  29. Big-data technology is the digital-age equivalent of the telescope or the microscope. Both of those made it possible to see and measure things as never before – with the telescope, it was heaven and new galaxies; with the microscope, it was the mysteries of life down to the cellular level.
    “Before you can predict the future, you have to see the present,” he says, adding that “seeing the present clearly can be as hard as predicting the future.”

    Data should be the vital raw material that strengthens and improves the machinery of decision making. Data is the input, and the output is smarter choices and wiser judgments. But the data paradox is that a world richer and richer in data has so far yielded little payoff in most fields. The supply of data races ahead, while the ability to use it lags badly.
  30. Big data is good at interpolation – figuring out what happens next when the outcome is, most likely, a continuation of the current trend. It is far less good at extrapolation – figuring out what happens next when the trend line of the future is less clear. In short, big data stumbles when a decision requires an intuitive step outside the data sandbox – beyond the range of the data.
    Sensing, seeing, and acting. That is the promise of big data, and it seems straightforward. The improved measurement and monitoring that big-data technology makes possible are a kind of seeing. You can see things more clearly, and that clarity should improve the odds of intelligent action.
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2017-11-26 20:34:08
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