Michael Otto - Quotes

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

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. ---->>>

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. ---->>>

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. ---->>>


Nationality: German
Born: 04-12, 1943
Birthplace: Chełmno (Kulm), General Government administration
Occupation: Businessman

Michael Otto (born 12 April 1943, in Chełmno (Kulm) in 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 (wikipedia)