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Guy Hands on deal making and private equity

Business Daily

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You're in a Room of 20

The bands weren't pleased about you or your company, were they? Radio head quit. The rolling stones quit. Janet jackson quit. They left. And the reality is we were losing money on 90 % of our orbands and we were giving poor service to them as well. By getting rid of 80 % of the bands and concentrating on the 20 % we kept, we managed to give a much better service. Our turnover went up when the rest of the market went down 16%. So with half as many people, we were doing substantially more business. What happened after this? Right? I mean, as you say, bad deals happened, but this was you couldn't let go.

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