Bryan Burrough · 592 pages
Rating: (22.5K votes)
“Everyone in the room knew about leveraged buyouts, often called LBOs. In an LBO, a small group of senior executives, usually working with a Wall Street partner, proposes to buy its company from public shareholders, using massive amounts of borrowed money. Critics of this procedure called it stealing the company from its owners and fretted that the growing mountain of corporate debt was hindering America’s ability to compete abroad. Everyone knew LBOs meant deep cuts in research and every other imaginable budget, all sacrificed to pay off debt. Proponents insisted that companies forced to meet steep debt payments grew lean and mean. On one thing they all agreed: The executives who launched LBOs got filthy rich.”
― Bryan Burrough, quote from Barbarians at the Gate: The Fall of RJR Nabisco
“It is important to remember that, as Ken Auletta wrote in his definitive Greed and Glory on Wall Street, “no reporter can with 100 percent accuracy re-create events that occurred some time before. Memories play tricks on participants, the more so when the outcome has become clear. A reporter tries to guard against inaccuracies by checking with a variety of sources, but it is useful for a reader—and an author—to be humbled by this journalistic limitation.”
― Bryan Burrough, quote from Barbarians at the Gate: The Fall of RJR Nabisco
“He who’s not busy being born is busy dying.” Tony”
― Bryan Burrough, quote from Barbarians at the Gate: The Fall of RJR Nabisco
“Planning, gentlemen, is ‘What are you going to do next year that’s different from what you did this year?’” he told them. “All I want is five items.”
― Bryan Burrough, quote from Barbarians at the Gate: The Fall of RJR Nabisco
“Recognize that ultimate success comes from opportunistic, bold moves which, by definition, cannot be planned.”
― Bryan Burrough, quote from Barbarians at the Gate: The Fall of RJR Nabisco
“Through all the machismo, through all the greed, through all the discussion of shareholder values, it all came down to this: John Gutfreund and Tom Strauss were prepared to scrap the largest takeover of all time because their firm’s name would go on the right side, not the left side, of a tombstone advertisement buried among the stock tables at the back of The Wall Street Journal and The New York Times.”
― Bryan Burrough, quote from Barbarians at the Gate: The Fall of RJR Nabisco
“turn over the reins to the board of directors.”
― Bryan Burrough, quote from Barbarians at the Gate: The Fall of RJR Nabisco
“The minute you establish an organization, it starts to decay.”
― Bryan Burrough, quote from Barbarians at the Gate: The Fall of RJR Nabisco
“changes in the story were the result of normal editing.”
― Bryan Burrough, quote from Barbarians at the Gate: The Fall of RJR Nabisco
“Religion declined not because it was refuted, but because it became irrelevant, dull, oppressive, insipid. When faith is completely replaced by creed, worship by discipline, love by habit; when the crisis of today is ignored because of the splendor of the past; when faith becomes an heirloom rather than a living fountain; when religion speaks only in the name of authority rather than with the voice of compassion—its message becomes meaningless.”
― Abraham Joshua Heschel, quote from God in Search of Man: A Philosophy of Judaism
“I said that I feel bad whenever I drive, because I’m adding to global warming. The Maori nodded agreement. So did Jeannette. Then she added fervently, “But you didn’t set up the system. Do what you can, but don’t identify with the problem. If you internalize what is not yours, you fight not only them but yourself as well. Take responsibility only for that which you’re responsible—your own thoughts and actions. You didn’t make the car culture, you didn’t set up factory farming. Do what you can to shut those things down.”
― Derrick Jensen, quote from A Language Older Than Words
“Oh my God!" Lindsay cried. "I swear I shall practice celibacy every day for the rest of my life! I swear it, Anais.”
― Charlotte Featherstone, quote from Addicted
“even as she says it, sees love drain out of his eyes: and somehow, as a stream, which seeks its own level, it flows over into hers, and her fate is sealed. The less he loves, the more she will.”
― Fay Weldon, quote from The Life and Loves of a She Devil
“I watched the first shoots
like wings tearing the soil, and it was my heart
broken by the blight, the black spot so quickly
multiplying in the rows. I doubt
you have a heart, in our understanding of
that term. You who do not discriminate
between the dead and the living, who are, in consequence,
immune to foreshadowing...”
― Louise Glück, quote from The Wild Iris
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