We’ve experienced both outcomes: As is the case in marriage, business acquisitions often deliver surprises after the “I do’s.” I’ve made some dumb purchases, paying far too much for the economic goodwill of companies we…
By the early 1990s, however, our focus was changing to the outright ownership of businesses, a shift that materially diminished the relevance of balance sheet figures. That disconnect occurred because the accounting…
We’ve experienced both outcomes: As is the case in marriage, business acquisitions often deliver surprises after the “I do’s.” I’ve made some dumb purchases, paying far too much for the economic goodwill of companies we…
By the early 1990s, however, our focus was changing to the outright ownership of businesses, a shift that materially diminished the relevance of balance sheet figures. That disconnect occurred because the accounting…
Benjamin Franklin:The Autobiography of Benjamin Franklin, Excerpt 26
Benjamin Franklin《The Autobiography of Benjamin Franklin》· The Autobiography of Benjamin Franklin · Leadership
He now told me he was about to return to Philadelphia, and should carry over a great quantity of goods in order to open a store there. He propos'd to take me over as his clerk, to keep his books, in which he would instruct me, copy his letters, and attend the store. He added that, as soon as I should be acquainted with mercantile business, he would promote me by sending me with a cargo of flour and bread, etc., to the West Indies, and procure me commissions from others which would be profitable; and, if I manag'd well, would establish me handsomely. The thing pleas'd me; for I was grown tired of London, remembered with pleasure the happy months I had spent in Pennsylvania, and wish'd again to see it; therefore I immediately agreed on the terms of fifty pounds a year, Pennsylvania money; less, indeed, than my present gettings as a compositor, but affording a better prospect.
By the early 1990s, however, our focus was changing to the outright ownership of businesses, a shift that materially diminished the relevance of balance sheet figures. That disconnect occurred because the accounting…