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Information is a business in itself. It is also something that has made control impossible ... you cannot get customers to accept prices in one place when they know there's a better deal elsewhere. It's a whole new world.

Walter Wriston

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Walter Wriston
Age: 85 †
Born: 1919
Born: August 3
Died: 2005
Died: January 19
Banker
Middletown
Connecticut
Walter Bigelow Wriston
Also
Accepting
Better
Deals
Whole
Information
Made
Control
Prices
Something
Impossible
Elsewhere
World
Business
Customers
Place
Accept
Cannot
Deal

More quotes by Walter Wriston

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Capital goes where it is welcome and stays where it is well treated.
Walter Wriston
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A country does not go bankrupt.
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Countries don't go out of business....The infrastructure doesn't go away, the productivity of the people doesn't go away, the natural resources don’t go away. And so their assets always exceed their liabilities, which is the technical reason for bankruptcy. And that's very different from a company.
Walter Wriston
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Capital goes to where it can escape taxation and be used to pay employees in sacks of rice.
Walter Wriston
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Capital will always go where it’s welcome and stay where it’s well treated. Capital is not just money. It’s also talent and ideas. They, too, will go where they’re welcome and stay where they are well treated.
Walter Wriston
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Information about money is more important than money itself.
Walter Wriston
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When you retire you go from Who's Who to Who's That?
Walter Wriston
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The person who figures out how to harness the collective genius of his or her organization is going to blow the competition away.
Walter Wriston
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Rising prices or wages do not cause inflation they only report it. They represent an essential form of economic speech, sincemoney isjust another form of information.
Walter Wriston
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I walk into all these organizations, and I'm always puzzled when I realize that people still want to be there. Most people really want to love their organizations. We need that level of commitment ... Yet organizations have done very little to deserve that kind of staying-power.
Walter Wriston
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It is a maxim of cryptology that what one man can devise, another can unravel. This principle keeps armies of tax lawyers and accountants employed, but adds nothing to our national productivity.
Walter Wriston
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Failure is not a crime. Failure to learn from failure is.
Walter Wriston
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Human capital will go where it is wanted, and it will stay where it is well treated. It cannot be driven it can only be attracted.
Walter Wriston
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Every line in the government's budget has its own constituency.
Walter Wriston
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Information about money has become almost as important as money itself.
Walter Wriston
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If we had a truth-in Government act comparable to the truth-in-advertising law, every note issued by the Treasury would be obliged to include a sentence stating: This note will be redeemed with the proceeds from an identical note which will be sold to the public when this one comes due.
Walter Wriston
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All of life is the management of risk, not its elimination.
Walter Wriston
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All the Congress, all the accountants and tax lawyers, all the judges, and a convention of wizards all cannot tell for sure what the income tax law says.
Walter Wriston
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The information revolution has changed wealth. Intellectual capital is far more important than money.
Walter Wriston
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The guy with the competitive advantage is the one with the best technology.
Walter Wriston