Ownership Stakes Over Salaries

“Hoak and his management team were the envy of other cable operators, and he structured the deal to give them a shot at the cable upside: In five years they would own an 18 percent stake in the operation of the cable systems they had sold. Hoak ended up making more money on his share in three and a half years than he had made over the first 17 years of building the company.”

“If you buy a property and find a manager motivated by ownership in the company, keep him or her in power and trust him or her implicitly.”