Conviction Without Compromise

"Bill is obviously very decisive. He makes up his mind quickly. He has a very distinct set of beliefs. He believes in the free market economy, in individual freedom. He has a lot of energy and is very motivated to do things to carry out his beliefs. He is a unique person because he is so passionate about what he believes in, and so energetic about pursuing his beliefs. Bill is not a person who compromises easily"

"Much more unsettling and disappointing was the general reaction of the business community. Perhaps like me before my Washington experience, some business leaders were too preoccupied with their immediate concerns to pay much attention to the intellectual assault on everything that makes their freedom and prosperity possible. Others, however, simply did not have the stomach to fight for it. Many, sadly, had lost their faith and hope in the competitive free-enterprise system. In the face of an enemy assault, they were willing simply to capitulate. They yearned to be accepted as “socially responsible” and feared they would be labeled “insensitive” or “conservative.” I was appalled and felt betrayed by those who should have been my philosophical brethren."

"The American people must now decide whether they will sell the liberty that is the envy of the world for the empty promise of the welfare state, or whether they will restrict government to its proper functions: defense of the nation, protection of the helpless from the avaricious, and the creation of an environment for sustained economic growth through sensible fiscal, monetary, tax, and regulatory policies,” I told the delegates. “Let us never forget personal and political freedoms are inseparable from economic freedom.”"

"In Tisch’s view, however, CBS no longer could afford a spare-no- expense approach to the network’s quality. “Survival was the issue,” Tisch said, “not the comfort of management.” CBS was throwing money into a pit where it had no chance to grow and return a reward to the all-important owners. There was no greater corporate sin."

"“Wealth doesn’t impress us,” Billie Tisch said. “Larry and I are both very mindful of the things money cannot buy and the things it can buy. We always felt that we wanted the kids to be mindful of that. To be able to stand out as different in whichever community they chose to live in, we felt that you couldn’t create an economy of scarcity where one didn’t exist. We never made any pretense of not being able to afford things, nor did we see any value in extravagance. I think they know that.”"

"For Tisch, the stewardship of wealth—maintaining the delicate balance between protecting it and making it grow—was the point, not personal wealth. Stunning successes delighted him, and they hap- pened often enough that stunning failures failed to elicit much more than a shrug. His sense of self-worth wasn’t tied up in the bottom line of each and every deal, nor did he share his fellow billionaires’ ap- petites for lavish life-styles. Spending a fortune was anathema to his mission as the enemy of corporate waste. He and Billie lived well below their means. They seldom indulged in lavish vacations. They avoided the trappings of obvious wealth. No Rolls Royce. No personal aircraft. No trophy real estate or vacation villa. No South Sea islands. No high-priced decorating binges."