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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
Something
Impossible
Elsewhere
World
Business
Customers
Place
Accept
Cannot
Deal
Also
Accepting
Better
Deals
Whole
Information
Made
Control
Prices
More quotes by Walter Wriston
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
Failure is not a crime. Failure to learn from failure is.
Walter Wriston
The information revolution has changed wealth. Intellectual capital is far more important than money.
Walter Wriston
The greatest testimony to the human spirit that I'm witnessing now is the fact that people still come back to work, after all that has been done to them. They are still willing to participate for a more positive future if they would be sincerely invited.
Walter Wriston
The guy with the competitive advantage is the one with the best technology.
Walter Wriston
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
As long as capital-both human and money-can move toward opportunity, trade will not balance.
Walter Wriston
Every line in the government's budget has its own constituency.
Walter Wriston
Banking is a branch of the information business.
Walter Wriston
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
Many organizations are now trying to walk under the banner of The Learning Organization, realizing that knowledge is our most important product ... But the only place that I've seen it is in the Army. As one colonel said, We realized a while ago that it's better to learn than be dead.
Walter Wriston
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
Capital goes where it is welcome and stays where it is well treated.
Walter Wriston
Risk is not a dirty word.
Walter Wriston
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
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
One man saying that everything is wrong can command coast-to-coast attention in living color, a power not given to an absolute monarch a century ago.
Walter Wriston
Information about money is more important than money itself.
Walter Wriston
We're not in cultures which support learning we're in cultures that give us the message consistently: Don't mess up, don't make mistakes, don't make the boss look bad, don't give us any surprises. So we're asking for a kind of predictability, control, respect, and compliance that has nothing to do with learning.
Walter Wriston
Capital goes to where it can escape taxation and be used to pay employees in sacks of rice.
Walter Wriston
