Entity Dossier
entity

Nevada

Strategic Concepts & Mechanics

Risk DoctrineNo Cross-Pledging of Crown Jewels
Signature MoveDeals Hated, Strategy Loved
Signature MoveNever Run Out of Cheque-Writing Time
Relationship LeverageShare the Pie to Keep the Table
Strategic PatternEcho Bay Model Then Surpass It
Signature MoveKlosters Mountain as Strategic War Room
Identity & CultureRefugee Hunger as Permanent Engine
Cornerstone MoveWritten Memo Then Unanimous Sign-Off
Identity & CultureReturn to Canada Only With Success
Cornerstone MoveBuy Producing Assets at Cycle Bottom, Never Explore
Signature MoveTrust Mining Operators Then Stay Away
Operating PrincipleFocus as Compensation for Ordinary Talent
Cornerstone MoveBorrow Against the Asset to Buy the Asset
Decision FrameworkGeopolitical Disruption as Buy Signal
Strategic PatternScarcity Premium as Entry Signal
Signature MoveControl Without Majority Ownership
Signature MoveControl Freak Construction Supervision
Operating PrincipleConstruction Site as CEO Battleground
Capital StrategyOpening Spectacle as Marketing Investment
Strategic PatternCelebrity Positioning as Market Strategy
Strategic PatternLandscaping as Building Camouflage
Signature MoveDetails Drive Profit Doctrine
Cornerstone MoveCopy-and-Improve Blueprint Acquisition
Signature MoveSite Positioning as Make-or-Break Decision
Operating PrincipleExceed Expectations Service Philosophy
Signature MoveManagement by Walking Around Obsession
Competitive AdvantageBuzz Creation Over Basic Amenities
Signature MoveOpening Date as Immovable Deadline
Cornerstone MoveExclusive First-in-Market Positioning

Primary Evidence

"Time, in business, is a function of how much money you have and how soon you run out of the ability to write a cheque. So we said, let us all, the handful of key executives, take the minimum amount of salary. Let us make sure that we don’t spend our money—giving us the time to prove our principles. When the company’s value moved from $80 million to $3 billion last year to close to $4 billion today, I received my share. I am proud of having done that and I’m thrilled that there was $3 billion out there that was earned by institutions, by investors, by people who believed in us. In the process, close to 2,000 jobs have been created, and stockbrokers and truck makers, mine suppliers and contractors have all benefited as we built facilities, as we expanded our activities from Kirkland Lake in Northern Ontario down to Utah and over to Nevada. And it is just misleading, in my mind, for some to have represented these exercised options as an annual salary—but it's not their fault; it is the reporting system that adds bonuses, salaries and options together to show an executive's total annual remuneration. But this is not, of course, an annual salary, but that’s the impression the public gets. I, as a"

Source:The Golden Phoenix : A Biography of Peter Munk

"Sol had always been a fan of the entertainment provided in Vegas. He was determined that “his” shows in the Sun City theatre should equal or surpass the high standards set in Nevada. It would require a big budget and a super-sharp professional team of producers and performers."

Source:Sol

Appears In Volumes