extreme meritocracy and self imposed integrity to pass on savings to
customers and it create ferocious customer loyalty, they one store in
Korea that will do over $400MM, they are quite rare, the more normal
business is like GM which became the most successful business world
and wiped out shareholders, that is a very interesting story, i would
take them through the value line numbers, they faced a real difficult
problem heavily unionized combined with success and increase in
competition, from preventing wealth from killing you. The graphs don't
exist that I want to teach, how stupid are you. Part of it is because
how turf protected academics can be. That is the way is it should be
taught, HBS used to teach it that way and they stopped, history of
business trampled on other professors. IBM is an interesting case.
WB - our plane was hijacked, and we picked as dirty capitalists, each
of us given one request, charlie said i would like to give one much
more my speech on the virtues of costco, and you WB shoot me first
haha
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