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Perhaps unconsciously following Andrew Carnegie’s dictate that “He who dies rich, dies disgraced,” Santulli says, “Everything that I have will be given away while I am alive, minus enough for my wife to live.”
Note: Rich Santulli set up a family foundation, RTS Family Foundation where he spends his time in charity works.
“My circle of competence is that I understand business very well. I understand people very well. I understand the aviation business. I don’t know how to make an airplane and I don’t know how to fly an airplane, but I know what customers—people—like in airplanes. I know that. And I know how to take that and turn it into something that works from an economic point of view.”
“Hire the best people and don’t be afraid they’re going to take over your job. After they show their abilities, empower them and delegate. You have to look long term, and hiring the best employee is one way to ensure your future success.”
“Because people who buy companies usually have huge egos and think they’re smarter than the people they bought the company from, One of the nicest things about being part of Berkshire is that if I said to Warren, ‘I am going to go buy $1 billion worth of airplanes,’ he would say, ‘Why are you asking me? Go do it.’”
“You have to love your business. You have to care about your people. You have to treat them with dignity and respect. And you have to communicate well with your people to let them know what is going on.”
Excerpts from an interview with Robert P. Miles:
“It's totally up to each manager. Few meet with him in person. Most phone every few weeks if they need advice or want to report in. After the purchase of See's Candies, it was over 20 years before its CEO, Chuck Huggins, even visited Omaha.”
“….Bill Child of R.C. Willey Home Furnishings took a call from a dissatisfied customer right in the middle of our interview. He also lists his home phone on his business card. The Tatelman brothers of Jordan Furniture treat their employees like they are the customers. Executive Jet CEO Rich Santulli keeps his small corporate office near New York City while most of his employees and his operational center are in Columbus.”
