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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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Walter Wriston
Age: 85 †
Born: 1919
Born: August 3
Died: 2005
Died: January 19
Banker
Middletown
Connecticut
Walter Bigelow Wriston
Employees
Employee
Capital
Escape
Pay
Goes
Sacks
Used
Rice
Taxation

More quotes by Walter Wriston

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A country does not go bankrupt.
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As long as capital-both human and money-can move toward opportunity, trade will not balance.
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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.
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Banking is a branch of the information business.
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Information about money is more important than money itself.
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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.
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All of life is the management of risk, not its elimination.
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Information about money has become almost as important as money itself.
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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.
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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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Failure is not a crime. Failure to learn from failure is.
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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.
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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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The information revolution has changed wealth. Intellectual capital is far more important than money.
Walter Wriston
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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
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When you retire you go from Who's Who to Who's That?
Walter Wriston
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The guy with the competitive advantage is the one with the best technology.
Walter Wriston
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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
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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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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