While it's impossible to be completely prepared for a downturn of this magnitude, we began priming ourselves for a weakening economy earlier last year. We have implemented strict cost cutting measures across all our operations. We have reduced headcount in individual businesses where appropriate and we've scaled back on capital expenditures. Even in plush times, we have never been a company that tolerates fat. So in times like these, we are better positioned to weather this cycle than our competitors.
Rupert MurdochRelated topics
across begin company cost cutting cycle early fat impossible last magnitude plush times weakening weather while year downturn operationsRelated quotes
Survival, with honor, that outmoded and all-important word, is as difficult as ever and as all-important to a writer. Those who do not last are always more beloved since no one has to see them in their long, dull, unrelenting, no-quarter-given-and-no-quarter-received, fights that they make to do something as they believe it should be done before they die. Those who die or quit early and easy and with every good reason are preferred because they are understandable and human. Failure and well-disguised cowardice are more human and more beloved.
Ernest Hemingway
Of the various executive abilities, no one excited more anxious concern than that of placing the interests of our fellow-citizens in the hands of honest men, with understanding sufficient for their stations. No duty is at the same time more difficult to fulfil. The knowledge of character possessed by a single individual is of necessity limited. To seek out the best through the whole Union, we must resort to the information which from the best of men, acting disinterestedly and with the purest motives, is sometimes incorrect.
Thomas Jefferson
On this question of principle, while actual suffering was yet afar off, they the Colonies raised their flag against a power to which, for purposes of foreign conquest and subjugation, Rome in the height of her glory is not to be compared,a power which has dotted over the surface of the whole globe with her possessions and military posts, whose morning drum-beat, following the sun, and keeping company with the hours, circles the earth with one continuous and unbroken strain of the martial airs of England.
Daniel Webster
The soul contains few secrets and longings which cannot be sensibly discussed, analyzed, and polled. Solitude, the very condition which sustained the individual against and beyond his society, has become technically impossible. Logical and linguistic analysis demonstrate that the old metaphysical problems are illusory problems; the quest for the "meaning” of things can be reformulated as the quest for the meaning of words, and the established universe of discourse and behavior can provide perfectly adequate criteria for the answer.
Herbert Marcuse
We have long supported a carbon tax as the best policy of those being considered. Replacing the hodge-podge of current, largely ineffective regulations with a revenue-neutral carbon tax would ensure a uniform and predictable cost of carbon across the economy. It would allow market forces to drive solutions. It would maximize transparency, reduce administrative complexity, promote global participation and easily adjust to future developments in our understanding of climate science as well as the policy consequences of these actions.
Rex Tillerson
