Michael Otto
Michael Otto
Michael Ottoin Nazi-occupied Poland), is the head of German Otto Group, the world's largest mail order company, with US$24 billion in sales in fiscal year 2003. Thanks to a 30% rise in Internet sales last year, Otto also maintains its position as the Web's second-biggest retailer, behind Amazon.com...
NationalityGerman
ProfessionBusinessman
Date of Birth12 April 1943
CountryGermany
bought eddie invested time turned
When we bought it, Spiegel was in a difficult situation; it made a loss at that time. We invested in it and then it turned around, and then we bought Eddie Bauer and Newport News.
barrier experience states united
From my experience, there are so many regulations for investing in the United States that they become an impediment, a barrier to investing.
asking whether
It is always important that we have transparency, that we have shareholder protection. Then again, I think it is important that there are not so many regulations that management can't make a decision without asking a lawyer whether he can do it.
corporate
One has to live with the fact that some corporate decisions are going to be wrong. As long as most of the decisions are right.