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The company headquarters should be the place from which the business can best be run. Location decisions often involve proximity to necessary resources. For banks, this nowadays means access to political and commercial capital.
Making decisions that balance human life against costs is unavoidable. We prefer them to be made by public agencies than by private companies. And we deny that we make these judgments ourselves, although we do so every day.
An effective business strategy is not separable from execution and is not based on visions and dreams, but on a match between capabilities and activities.
Private equity promoters propose layer upon layer of debt, leveraged by non-recourse finance. But the same finance theory also tells us that you do not increase the value of an investment portfolio by increasing gearing.
If the measure of skill is how often good performance repeats itself, poker is a more skilful activity than investment management.
Intellectual property rules are an attempt to strike a balance between conflicting public interests and the need to provide economic incentives. However, companies should find commercial success through new products, not new legislation.