Glengarry Glen Ross is a movie about four real estate agents who sell unappealing land to people who don’t really want it. One of the agents is a good salesman. The other three are not. Early in the movie, Blake, a very successful person from an unnamed place, arrives at the office. He’s been sent by the owners of the real estate company to help motivate the salesmen. Over just about seven minutes, he delivers a pristinely venomous monologue, one that has, over the past near two and a half decades, aged into lore.
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"So, to summarize," Sonneborn says, "You have a miniscule revenue stream, no cash reserves, and an albatross of a contract that requires you to go through a slow approval process to make change, if they're approved at all. Which they never are. Am I missing anything?"
"That about sums it up," Kroc says.
Sonneborn thinks for a moment. "Tell me about the land," he says. "The land, the buildings...how that whole aspect of it works."
And with that question, everything changes for Kroc--and McDonald's.
"Pretty simple, really," Kroc says. "Franchisee finds a piece of land he likes, gets a lease, usually 20 years, takes out a construction loan, throws up a building, and off he goes."
The operator selects the site. The operator picks the property. Kroc provides training, the system, the operational know-how. The operator is responsible for the rest.
"Is there a problem?" Kroc says.
"You don't seem to realize what business you're in," Sonneborn says. "You're not in the burger business. You're in the real estate business."
According to Sonneborn, Kroc can't build an empire off a 1.4 percent cut of a 15-cent hamburger. You build it by owning the land upon which that burger is cooked. He tells Kroc to buy plots of land to lease to franchisees who, as a condition of their franchise agreement, can only lease from Kroc.
The story of Ray Kroc, a salesman who turned two brothers' innovative fast food eatery, McDonald's, into the biggest restaurant business in the world, with a combination of ambition, persistence, and ruthlessness.
Robert 'Bobby' Axelrod is the CEO of Axe Capital, a multibillion-dollar hedge fund originally located in Connecticut then moving to New York City in Season 3. Known as "Axe" by friends and enemies alike, Bobby is an incredibly smart and capable investor who can see many moves ahead in his investments and appear to come out ahead every time. (fandom).
"Fugazi, fugazi. It's a whazy. It's a woozie. It's fairy dust. It doesn't exist. It's never landed. It is no matter. It's not on the elemental chart. It's not fucking real."
Based on the true story of Jordan Belfort, from his rise to a wealthy stock-broker living the high life to his fall involving crime, corruption and the federal government.
Based on the true story of Jordan Belfort, from his rise to a wealthy stock-broker living the high life to his fall involving crime, corruption and the federal government.
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Robert 'Bobby' Axelrod is the CEO of Axe Capital, a multibillion dollar hedge fund originally located in Conneticut then moving to New York City in Season 3. Known as "Axe" by friends and enemies alike, Bobby is an incredibly smart, and capable investor, able to see many moves ahead in his investments and appearing to come out ahead every time. (fandom).
Bobby explains to Lara ( his wife) how failed in business means. What is it you do that you're the best in the world at? You offer a service you didn't invent, a formula you didn't invent, a delivery method you didn't invent. Nothing about what you do is patentable or a unique user experience. You haven't identified an isolated market segment, haven't truly branded your concept. You need me to go on?
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In 2007 or 2008, an unnamed investment bank begins laying off a large number of employees. Among those affected is Eric Dale, head of risk management. Dale's attempts to speak about the implications of his current project are ignored, but he gives a flash drive containing his work to Peter Sullivan, a junior analyst in his department. Sullivan, intrigued, works late to complete Dale's model.
Sullivan discovers that the assumptions underpinning the firm's present risk profile are wrong; historical volatility levels in mortgage-backed securities are being exceeded, which means that the firm's position in those assets is overleveraged and a decline in their value large enough to cause the firm's bankruptcy could occur in the near future. Sullivan urges his colleague, Seth Bregman, to return to work with head of credit trading Will Emerson; Emerson in turn summons Sam Rogers, his boss, after reviewing Sullivan's findings. Attempts by the four to contact Dale end unsuccessfully, due to his company phone having been shut off.
A subsequent meeting of division head Jared Cohen, chief risk management officer Sarah Robertson, and other senior executives concludes that Sullivan's findings are accurate, and firm CEO John Tuld is called. Upon Tuld's arrival, after Sullivan explains the problem, Rogers, Cohen, and Tuld spar regarding a course of action. Cohen's strategy, favored by Tuld, is a fire sale of the problematic assets, but Rogers points out that this will have significant negative effects on the broader market, in addition to destroying the firm's present trading partnerships. Tuld counters that such effects are likely to occur in any case and stresses his desire to avoid them regardless of the cost.
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