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Telephone Manners: "Transferring a call seems to require more athletic ability than some of our associates possess. Be prepared for spot checks...those who flunk will get private lessons from me."
Cutting Costs: "At last weeks partners meeting. Haimchinkel pointed out to me that the hors d'oeuvres had been upgraded considerably from peanuts. You will be happy to know that we are now back to peanuts."
Good Times: "The time to stop stupidity and be tough on costs is when times are good. Any schlemiel and most schlamozels try to cut costs when times are bad."
Bad Times: "Now is not the time to hide from clients. It takes real courage to make calls when you know the reception might be hostile."
Arrogance: "Conceit and complacency are dangerous, particularly in our line of work. If I ever feel that the people at Bear Stearns start thinking their body odor is perfume and I cannot convince them otherwise-I will sell my stock."
Excerpted from Memos From The Chairman. Copyright (c) 1996. Reprinted with permission by Workman Publishing.