From my experience, there are so many regulations for investing in the United States that they become an impediment, a barrier to investing. – Michael Otto
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. – Michael Otto
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. – Michael Otto
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. – Michael Otto
