Michael Otto Quotes

Poland, Businessman
April 12, 1943

Michael Otto , 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.

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
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

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
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
- Right
- Wrong
- Decisions