1:12:03
Well, l appreciate the opportunity
you're giving me, Mr Cromwell,...
1:12:06
..as the single largest shareholder
in Teldar Paper, to speak.
1:12:11
(laughter)
1:12:12
We are not here to indulge in fantasy,
but in political and economic reality.
1:12:19
America... America
has become a second-rate power.
1:12:26
lts trade deficit and its fiscal deficit
are at nightmare proportions.
1:12:33
ln the days of the free market, when
our country was a top industrial power,...
1:12:37
..there was accountability to the stockholder.
1:12:41
The Carnegies, the Mellons, the men
that built this great empire, made sure of it...
1:12:46
..because it was their money at stake.
1:12:49
Today, management
has no stake in the company!
1:12:54
All together, these men sitting up here
own less than 3% of the company.
1:12:59
And where does Mr Cromwell
put his $1,000,000 salary?
1:13:03
Not in Teldar stock. He owns less than 1%.
1:13:07
You own the company.
That's right, you, the stockholder.
1:13:11
And you are all being royally
screwed over by these bureaucrats,...
1:13:15
..with their steak lunches, their fishing trips,
their corporate jets and golden parachutes.
1:13:21
This is an outrage! You're out of line, Gekko!
1:13:23
Teldar Paper, Mr Cromwell,
has 33 different vice presidents,...
1:13:29
..each earning over $200,000 a year.
1:13:35
Now, l have spent the last two months
analysing what all these guys do.
1:13:40
- And l still can't figure it out.
- (laughter)
1:13:43
One thing l do know is that
our paper company lost $110m last year.
1:13:49
And l'll bet half of that was spent in all the
paperwork between all these vice presidents!
1:13:56
The new law of evolution
in corporate America...