Almost all good
businesses engage in ‘pain today, gain tomorrow’ activities.
— Charlie Munger
Government does not abide by this rule of course, Kick the can down the road is the policy of Government.
the best phrase to describe Government is also from Munger
Some people seem to
think there’s no trouble just because it hasn’t happened yet. If you jump out
the window at the 42nd floor and you’re still doing fine as you pass the 27th
floor, that doesn’t mean you don’t have a serious problem. I would want to
address the problem right now.
— Charlie Munger
Since Government gets bigger and bigger, regulation, laws & more laws, etc... that is the reason the world is sick.
I feel ex communist countries have the best chance to do well in the future, why? People don't believe in gov.
The distrust of government in
former communist areas is many times as much of what you will find in
Europe or North America, and indeed the majority rather than a minority. This
will greatly insulate those regions from the worst decline compared to Europe
and North America.
Remember that reputation and integrity are your most valuable assets – and can be lost in a heartbeat.
— Charlie Munger
From the FT
Volkswagen makes a monumental blunder
No one accidentally installs software designed to fool the regulator
The
phrase “cutting corners” does not do justice to the gravity of the charge. What
German carmaker Volkswagen stands
accused of is closer to outright deceit. VW has admitted
to fitting half a million diesel cars with code that tricked regulators into
under-recording noxious emissions. Usually when a company runs foul of
environmental law, the crime is an accident, stemming from some combination of
irresponsibility or inattention. But no one installs software as clever as this
by accident.
You can have supervisory boards , you can have general counsel, you can have Compliance, auditors , Lawyers, Risk department etc... but what you need in any company is a top guy that is a good person and don't cut corners.
it's as simple as this!
VW is going to pay a heavy price for this and they deserve it. All the board and the CEO are going to go. It they new it they should go if they din't know they should know and also have to go.
In my country Portugal we had a PM, prime minister that was a crook and we are paying a heavy price for that. In life we should always choose the top guy a person that should know the difference between right and wrong and that attitude spreads in all the organization. I work in an organization that never cut corners and i like that.
It is smaller than i thought.
