I've said consistently that no employer ever really accepts a union. They tolerate the unions. The very minute they can get a pool of unemployment they'll challenge the unions and try to get back what they call managements prerogatives, meaning hire, fire, pay what you want.
All the real money in investment will have to be made as most of it has been in the past not out of buying and selling but out of owning and holding securities, receiving interests and dividends therein, and benefiting from their long-term increases in value. Hence stockholder's major energies and wisdom as investors should be directed toward assuring themselves of the best operating results from their corporations. This in turn means assuring themselves of fully honest and competent managements.benjamin graham
Good managements produce a good average market price, and bad managements produce bad market prices.benjamin graham
Management is a far more homely business than its would be scientists suggest, more closely allied to cookery than any other human activity. Like cooking, it rests on a degree of organisation and on adequate resources. But just as no two chefs run their kitchens the same way, so no two managements are the same.