Not Cease from Exploration

Thursday, December 4, 2008

Words of (Business) Wisdom for Difficult Times

This comes from a Reuters story about IAC CEO Barry Diller, who had the following to say about companies that are earning money but still lay people off during a recession:

“The idea of a company that’s earning money, not losing money, that’s not, let’s say ‘industrially endangered,’ to have just cutbacks so they can earn another $12 million or $20 million or $40 million in a year where no one’s counting is really a horrible act when you think about it on every level. First of all, it’s certainly not necessary. It’s doing it at the worst time. It’s throwing people out to a larger, what is inevitably a larger unemployment heap for frankly no good reason.”

I think I have a new business hero. You Rock Barry!

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