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Article: "Put all your eggs in one basket, and watch the basket".
- Article from:
- The Newsletter on Newsletters
- Article date:
- April 20, 2009
- Author:
CopyrightCOPYRIGHT 2009 The Newsletter on Newsletters LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Years ago, at a newsletter publishers' soiree in Jamaica, George Lutjen, then head of McGraw-Hill Inc.'s newsletter division, told me he had a few newsletters he'd like to sell me.
They would be profitable for me, he said, but they weren't profitable for McGraw-Hill. "They have to pay their share of Harold McGraw's private jet and the corporate waterfall" outside the publisher's Manhattan head-quarters and all the other overhead that goes with being a public company, George said.
I didn't buy the newsletters. Lutjen wouldn't sell them because he couldn't keep the money in his division, but would have to turn it over to corporate.
I thought of ...