The Week in Words: Weill about face; it's brutal, man

Jimmy Buffet and Gov. Christie during the announcement that Buffet will bring Margaritaville to AC.
Jimmy Buffet and Gov. Christie during the announcement that Buffet will bring Margaritaville to AC. (ELIZABETH ROBERTSON / Staff)
Posted: July 29, 2012

"What we should probably do is go and split up investment banking from banking. Have banks do something that's not going to risk the taxpayer dollars, that's not going to be too big to fail." - Sanford "Sandy" Weill, who created Citigroup and pushed for the 1999 Gramm-Leach-Bliley Act, which opened the door to financial-industry consolidation.

"I know some of you think that Campbell has suffered for a long time from ostrich syndrome, that our heads have been in the sand, and that we've lost the insight or the courage to confront critical shifts in consumer behavior." - Campbell Soup Co. chief executive Denise Morrison, while telling investors about the company's plan to introduce products appealing to "millennials."

"It's brutal, man, just brutal. They've done a remarkable job here in the U.S., paying down debt and getting an investment-grade rating, but the European stuff is just killing them." - Gary Bradshaw, a fund manager at Dallas-based Hodges Capital Management, after Ford Motor Co. reported a drop in earnings because of the European financial crisis.

"Margaritaville will help transform Atlantic City." - Gov. Christie, in announcing plans in the resort town for a restaurant, bar, and surf shop keyed to the brand linked to entertainer Jimmy Buffett.

"The day a Spanish bank can put a big fat sign in its window that says 'regulated by the ECB,' the risk of deposit flight declines." - Erik Nielsen, global chief economist at UniCredit Bank AG in London, on the crisis in Spain and the European Central Bank.

"With a visionary type of strategy like this, you have to take a lot of painful medicine up-front." - Brian Sozzi, chief equities analyst for the research firm NBG Productions, talking about J.C. Penney's challenge in changing pricing strategy at its stores.

Compiled from The Inquirer, Associated Press and Bloomberg News.

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