Interesting Business Stories

My favourite is the story of the ex-CEO of my recently departed place of employment answering a question at a shareholders meeting. The question was about the CEO's bonus, with dropping share prices, high staff turnover, and little in the way of new contract signings. His answer: "I have an expensive wife."

 

I wonder how many guys there are walking around SoCal that look enough like Brad Pitt that they could fool the dude working the counter at a head shop?

 

I don't know if this would qualify as a business story, but the one that I have heard is a good one. Keep in mind, I am not 100 percent sure if this is true, but I have heard and read about this from a few reliable sources. John F. Kennedy one day sent his aide out to get him a number of Cuban cigars, the brand that he smoked was Montecristo. The aide soon returned with quite a few more boxes than JFK expected him to bring. The former President proceeded to light one up, and then pulled out a sheet of paper from his desk, continuing on to sign it, and thus we had the Cuban trade embargo. I found this to be one of the greatest stories I have ever heard about the office of the President.

 

well, i screwed up that story a little bit. the president smoked petit upmann, and instead of an aide, he sent his press secretary, pierre salinger, out to get the cigars. here is a link to www.cigarenvy.com where there is a video in which pierre salinger himself talks about the incident. the good news though, is that this story appears to be true!
http://www.cigarenvy.com/2006/06/28/the-truth-about-kennedy-and-those-cuban-cigars/

 

I love this story, just because the situation is so mind-blowing to me..it was taken out of a BBC article about Kerry Packer..



Uncomfortable with the attention a stranger was receiving from a waitress at a casino, Packer turned to the gentleman and asked why his presence was causing such a stir.

"I'm worth US$100 million," bragged the oilman.

" Really. $100 million?" said Packer, pretending to be impressed.

"Yes I am sir," grinned the oilman.

"I'll toss you for it," Packer replied.

The oilman walked away.

 

LOL! that is a great story!

 

I saw Donny Deutsch explain one time how he likes to hire people that are "different" and have guts.
So one time Donny was to meet someone at a coffee shop about potential employment at Donny's ad agency. On the way to the shop, something came up and Donny could not make it. So Donny called the guy and told him. The guy told Donny "Go f*** yourself". Donny told him "I think I will meet you afterall". Donny went to the coffee shop and hired the guy on the spot.

 

If anyone has ever read "The Partners" by James Stewart, then you've heard this story and in much greater detail. Whart - are you familiar with this at all?

Verbatum:

"On Decemeber 12, 1980, lawyers from law firms representing America's richest and most powerful banks gathered secretly in the 32nd-floor conference room at the midtown offices of Shearman & Sterling in New York City's Citicorp skyscraper. For most of the lawyers attending, the circumstances were unique but the cast of characters familiar: the same senior partners from the same law firms they had been working with or against in major financial transactions fo years. The meeting's host, John Hoffman, the Shearman & Sterling representing Citicorp, greeted his colleagues like old friends: Bruce Nichols, from Davis Polk & Wardwell representing Morgan Guaranty Trust; Frank Logan, from Milbank, Tweed, Hadley & McCloy representing the Chase Manhattan Bank; Richard Simmons from Cravath, Swaine & Moore representing Chemical Bank; and others, together representing the country's twelve largest banks.

Then Hoffman dropped a bombshell on the assembled bank lawyers: acting on behalf of his client, Citibank, he was secretly negotiating with the revolutionary government of Iran for the release of the American hostages. These negotiations were being conducted not by the State Department, not by the President, not by the Pentagon, but by John Hoffman - a partner in a New York law firm that most Americans had never heard of and, throughout the hostage ordeal, never would hear of."

Makes me wonder what's going on right now in NYC.

 

It's one of my favorite books. The first half is really riveting, but it kind of trails off during the 2nd. There are some humorous stories as well.

For instance, Stewart talks about a battle between two associates trying to make partner at Cravath. One of them becomes somewhat of a legend for billing 27 hours in a day. He flew from NYC to LA and was able to take advantage of the time change.