“If my company is going to be sold, I’m not going to sell it to some kid here. After I was there for about three weeks, he said, “Kid,” (they used to call me kid all the time), “I want you to go out and call on a company called Tri-State Motor Transit, in Joplin, Missouri.
He’s solved his estate problems, he’s solved the succession problem in part, because we are there now, and he doesn’t have to make the tough decision. I want people who will stand up to me. I enjoy doing that as well.Henry Kravis: You have to make sacrifices on either side. One of the problems with corporate America is we’re, in many respects, losing our corporate competitiveness in this global environment.If we can just take a few companies, and use those as models, as examples, to show the rest of corporate America how they can become more competitive, that’s what I’d like to do and that’s what I hope to do.
I try to work out at least three times a week, early in the morning with a trainer. Don’t ever belittle yourself. It’s one of the most important things at the end of the day, being able to say no to an investment. If the company didn’t make sense, or the price didn’t make sense, or we couldn’t do the financing on the proper terms, we wouldn’t have done it.
All Rights Reserved. As I said there is nothing wrong with failing. They can say, “It wasn’t my decision. They know their son or daughter is not really up to the task, but they don’t want to be the one to make that decision. COPYRIGHT (c) 1991 SARAH BARTLETT. time or inclination to sit at the bedside of a sick man. I bought this book on the recommendation of a friend. was $4.5 million pretax -- enough to pay the expenses of deals that were never completed and have some left over. He almost hit it to the day. That’s important.Another hero, whom of course I’ve only read about, is Winston Churchill. I didn’t know what economics was before I took this course. He was in the oil and gas business as a consulting petroleum engineer up in Tulsa. We have to make this work.”Henry Kravis: There really were two days, two points in time that were very important. The list of companies Henry Kravis has bought and sold over the course of his career is a roll-call of great American brand names: Safeway, Beatrice, Borden, Playtex, Samsonite, Culligan, Texaco.In 1988, Kravis engineered the buyout of RJR Nabisco, a struggle dramatized in the book and film In addition to his business activities, Henry Kravis is active in charitable causes as a patron of the arts, and a generous supporter of medicine and higher education. It is the fact that we are not willing to sacrifice for the ethics and values we profess. I’d go around, and I’d collect, and keep them in the garage. That was a challenge for me. July 16, Milken caused arbitrager Ivan Boesky's organization to buy about 124,300 shares of Storer stock, with a secret agreement that any profits or losses on those shares would
I was in a hurry to succeed when I got out in the business world. I look back at how much I really learned as I was on the job. I don’t want to fail. To bring back that ownership. Thus, in 1987, Kohlberg would be entitled to a 20.5% stake of KKR's interest in any new companies that the firm acquired. My dad helped me, was there, is a very loving and supportive father. If we can educate these people, then I’m going to have a fair chance at getting my point across.But the press hasn’t changed. I want people to like me. Beatrice marked a significant departure from KKR's previously friendly-only approach. I can’t ski? Ed Merkle ran it.
third annual investment conference. It's certainly not a moral debate of whether Henry Kravis is a 'Barbarian'.
Gone were the days when KKR could circle around a company, carefully inspect its financial details, make an offer, and then negotiate a final price with That’s another goal we set out for ourselves. In examining KKR as a unique form of enterprise, the book bridges the gap between public perception and academic knowledge of the leveraged buyout. In other cases, they took the company private only long enough to make it lean and profitable and then offered its stock to the public again.
I'm starting to regret it. Yes, there is some terminations early on, but in the long run, if we can make a company more competitive, and leaner, and more profitable, they eventually are going to hire more people, because they are going to grow. I just quit worrying about what other people are doing. If you do a good job at it, everybody else wants you to do it too.Henry Kravis: First of all, pick a goal that is within reach. I had really thought through what I wanted to ask and, as a result, it went very well.
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