Going going gone, page-469

Mel, for any business, management would be more than half witted not to match their costs in proportion to revenue. Trouble is, lawyers whether listed, private, in partnership, with others, by themselves are renowned as a professional grouping in not knowing much about finance or accounting, liking numbers, or being told to control or manage their expenses.

They also typically don't like making changes, told to make changes, or told to cut costs, employees or expectations. That's why they need Houghton in control, supported by Millar as chairman / not an ex-retailer as chair, or a lawyer as MD. To date, those two have lost >$1B. Not too many can claim credit for that.