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<blockquote data-quote="Dfigtree" data-source="post: 385683" data-attributes="member: 5050"><p><strong>Re: Great IS and JC Quotes</strong></p><p></p><p></p><p></p><p>Thanks for your excellent comments. The quote below is lifted from a pretty good post on Google Finance post (<a href="http://finance.google.com/group/google.finance.663844/msg/358c25291940a57d" target="_blank">http://finance.google.com/group/google.finance.663844/msg/358c25291940a57d</a> )</p><p></p><p>[[[ "James Casey's most enduring legacy, even more so than his </p><p> business achievements, is the work culture at UPS. "The basic </p><p> principle which I believe has contributed more than any other to the </p><p> building of our business as it is today," he said in 1955, "is the </p><p> ownership of our company by the people employed in it." Casey's belief </p><p> in being privately held was in part a reflection of his own closely </p><p> guarded persona. "We have kept confidential facts and figures pretty </p><p> close to ourselves," he once said, "as most prudent people would do </p><p> with their own private affairs." <u>But that attitude was definitely </u></p><p> <u>shaped by what was perhaps the biggest threat UPS ever faced: Its </u></p><p> <u>abortive attempt to go public in 1929.</u> There's little information on </p><p> it, and Casey never liked discussing the move. "The arrangement did </p><p> not work out entirely as contemplated" was about as expansive as he </p><p> got, and UPS managers were able to recover all the stock by 1933. </p><p> <u>After that he routinely dismissed publicly traded companies as being </u></p><p> <u>owned by "absentee stockholders" and run by "hired men." .</u> ]]]</p></blockquote><p></p>
[QUOTE="Dfigtree, post: 385683, member: 5050"] [b]Re: Great IS and JC Quotes[/b] Thanks for your excellent comments. The quote below is lifted from a pretty good post on Google Finance post ([URL]http://finance.google.com/group/google.finance.663844/msg/358c25291940a57d[/URL] ) [[[ "James Casey's most enduring legacy, even more so than his business achievements, is the work culture at UPS. "The basic principle which I believe has contributed more than any other to the building of our business as it is today," he said in 1955, "is the ownership of our company by the people employed in it." Casey's belief in being privately held was in part a reflection of his own closely guarded persona. "We have kept confidential facts and figures pretty close to ourselves," he once said, "as most prudent people would do with their own private affairs." [U]But that attitude was definitely shaped by what was perhaps the biggest threat UPS ever faced: Its abortive attempt to go public in 1929.[/U] There's little information on it, and Casey never liked discussing the move. "The arrangement did not work out entirely as contemplated" was about as expansive as he got, and UPS managers were able to recover all the stock by 1933. [U]After that he routinely dismissed publicly traded companies as being owned by "absentee stockholders" and run by "hired men." .[/U] ]]] [/QUOTE]
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