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« Are You at Risk of Being Replaced by Technology? | Main | To Win We Must Harness the Power of Concentration »

08/04/2010

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Richard J Orlando

Gerhard,

This is going up on my board tomorrow at 7AM! Thanks for sharing.

"We never know enough about the future to be a pessimist."

Similar story that saved my former company in the 80"s from an emabarrassing, major law suit:

As a new VP of the NYC/NJ/MidAtlantic Region, I had a call scheduled with MARS for a computer system we sold several months before I assummed my new role. The software never worked as promised and it cost MARS lots of money due to software errors. I prepared two weeks with lawyers to "aggressively" address the issue to avoid having the system returned and "force" MARS to pay for the system in full. I spoke to my Dad the weekend before the call and he told me, "The H*** with the lawyers, just tell MARS the truth!" On the call, the CFO showed up alone and asked me what our position was regarding the matter? I stated, "We're at 100% fault, what would it take to make you satisfied?" The CFO didn't hestiate and said, "I appreciate your honesty. Just take the equipment out and pay for the return shipping and we'll release your company from any liability." My Dad was right, my CEO told me I saved our company a lot of money and avoided major negative press involving a world-class company. I've been eating MARS candy ever since! Class CFO at an icon American company who taught me a valuable lesson that I taught others when I became a CEO. Thanks for the advice Dad!

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