Tom Vazzo

And all of us as executive leaders, executive officer of the corporation, have to do all we can to get our businesses right sized for the recession. And so at that time, my set of businesses, again, $2 billion on the top line, about $150 million of operating profit on the bottom line. That was the budget. I thought we did a good job.

We were going to come in at $140 million, only missed by $10 million in the middle of the quote unquote, great recession. And I still remember two days before Christmas being on the phone with the chairman of the corporation. He was essentially berating me and yelling at me. It wasn't good enough. I needed to get that next $10 million. I needed to get back on plan.

We were going to come in at $140 million, only missed by $10 million in the middle of the quote unquote, great recession. And I still remember two days before Christmas being on the phone with the chairman of the corporation. He was essentially berating me and yelling at me. It wasn't good enough. I needed to get that next $10 million. I needed to get back on plan.

We were going to come in at $140 million, only missed by $10 million in the middle of the quote unquote, great recession. And I still remember two days before Christmas being on the phone with the chairman of the corporation. He was essentially berating me and yelling at me. It wasn't good enough. I needed to get that next $10 million. I needed to get back on plan.

I'm thinking to myself, we've been at this a long time. I know that get that next $10 million, how many more people I have to lay off. I also, smart enough, know about the business that once it's coming out of the recession, I'm going to need all those people back. It got me thinking, what's the long-term plan?

I'm thinking to myself, we've been at this a long time. I know that get that next $10 million, how many more people I have to lay off. I also, smart enough, know about the business that once it's coming out of the recession, I'm going to need all those people back. It got me thinking, what's the long-term plan?

I'm thinking to myself, we've been at this a long time. I know that get that next $10 million, how many more people I have to lay off. I also, smart enough, know about the business that once it's coming out of the recession, I'm going to need all those people back. It got me thinking, what's the long-term plan?

commitment we have to our employees if we're an employee-based organization how's that all play out and so something said to me shoot in this capitalist society we're in where shareholder value dominates the caring for the employees that's not so good because well-run companies have three things it does well in the marketplace of shareholder value customers want to give you money for the products or services and and you have a great place to work for for your employee base you know

commitment we have to our employees if we're an employee-based organization how's that all play out and so something said to me shoot in this capitalist society we're in where shareholder value dominates the caring for the employees that's not so good because well-run companies have three things it does well in the marketplace of shareholder value customers want to give you money for the products or services and and you have a great place to work for for your employee base you know

commitment we have to our employees if we're an employee-based organization how's that all play out and so something said to me shoot in this capitalist society we're in where shareholder value dominates the caring for the employees that's not so good because well-run companies have three things it does well in the marketplace of shareholder value customers want to give you money for the products or services and and you have a great place to work for for your employee base you know

And I felt like that all of a sudden things were out of whack. Now, listen, I'm a committed capitalist. Even today when I do speeches on behalf of Homeboy, which is a nonprofit, I'm in the audience. I say I'm a committed capitalist. A murmur goes across the audience about, oh, he's one of them. But again, well-run companies are good for people.

And I felt like that all of a sudden things were out of whack. Now, listen, I'm a committed capitalist. Even today when I do speeches on behalf of Homeboy, which is a nonprofit, I'm in the audience. I say I'm a committed capitalist. A murmur goes across the audience about, oh, he's one of them. But again, well-run companies are good for people.

And I felt like that all of a sudden things were out of whack. Now, listen, I'm a committed capitalist. Even today when I do speeches on behalf of Homeboy, which is a nonprofit, I'm in the audience. I say I'm a committed capitalist. A murmur goes across the audience about, oh, he's one of them. But again, well-run companies are good for people.

But something clicked in me saying, look, there's got to be a better way. And so, listen, I wasn't the final decision maker. So I did what I needed to do. But I knew that. So thereby, a couple of years later, when my golden handcuffs uncuffed, I wanted to do something different. Something in my mind says, how can we run businesses where we're employees?

But something clicked in me saying, look, there's got to be a better way. And so, listen, I wasn't the final decision maker. So I did what I needed to do. But I knew that. So thereby, a couple of years later, when my golden handcuffs uncuffed, I wanted to do something different. Something in my mind says, how can we run businesses where we're employees?

But something clicked in me saying, look, there's got to be a better way. And so, listen, I wasn't the final decision maker. So I did what I needed to do. But I knew that. So thereby, a couple of years later, when my golden handcuffs uncuffed, I wanted to do something different. Something in my mind says, how can we run businesses where we're employees?

are just as important in the long-term value as the shareholders and do that in balance. All right, so that's what was behind me. So I left the corporate world. A friend of mine invited me to come down to have lunch at the Homegirl Cafe. We're here in Los Angeles. He's my friend. We were on the board of Salvation Army in Los Angeles.

are just as important in the long-term value as the shareholders and do that in balance. All right, so that's what was behind me. So I left the corporate world. A friend of mine invited me to come down to have lunch at the Homegirl Cafe. We're here in Los Angeles. He's my friend. We were on the board of Salvation Army in Los Angeles.

are just as important in the long-term value as the shareholders and do that in balance. All right, so that's what was behind me. So I left the corporate world. A friend of mine invited me to come down to have lunch at the Homegirl Cafe. We're here in Los Angeles. He's my friend. We were on the board of Salvation Army in Los Angeles.

We've always thought, give back, be on boards, be a part of charities, right? So I'm having lunch at Homegirl Cafe. I'm thinking, and I'm looking around, and I'm looking at the employees, and the employees are working hard. They're smiling. They're engaging with the customers. By the way, my background, my last eight years, I bought 40 companies and sold four in my for-profit world.