Finding the Passion to Lead
Articles Blog

Finding the Passion to Lead

August 11, 2019


¶¶>>FUNDING FOR “FINDING THE PASSION TO LEAD” WAS PROVIDED BY TARGET, AND FREDERICKSON AND BYRON, WHY LAW AND BUSINESS MEET.>>WARREN BENNETT, A SCHOLAR ON THIS SUBJECT, THIS IS WHAT HE HAD TO SAY. HE SAYS AS THE WORD BECOMES EVER MORE DANGEROUS AND OUR PROBLEMS MORE COMPLEX AND DIRE, WE LONG FOR TRULY DISTINGUISHED LEADERS, MEN AND WOMEN WHO DESERVE OUR RESPECT AND LOYALTY. INSTEAD, WE SUFFERED FAR TOO MUCH BAD LEADERSHIP IN RECENT YEARS. THEY SAY AN HE MORE — ENORMOUS VACUUM IN LEADERSHIP EXIST TODAY IN POLITICS, BUSINESS, EDUCATION, RELIGION AND NONPROFIT ORGANIZATIONS. YET, THERE IS NO SHORTAGE OF PEOPLE WITH THE CAPACITY FOR LEADERSHIP. THE PROBLEM IS THAT WE HAVE A WRONG-NEEDED — WRONG-HEADED NOTION OF WHAT COBS INSTITUTES A LEADER, DRIVEN BY AN OBSESSION OF LEADERS AT THE TOP. A PROFOUNDLY DIFFERENT WAY TO THINK ABOUT THE CHALLENGE OF LEADERSHIP. DON’T LOOK FOR THEM, LOOK INSIDE TO FIND THE LEADERSHIP WE NEED. NOW, YOU ALL KNOW BILL GEORGE, A PROFESSOR NOW, PROFESSOR OF MANAGEMENT PRACTICE AT THE HARVARD BUSINESS SCHOOL. THE WILL FORMER CHAIRMAN AND C. E. O. OF MEDTRONIC, EARLIER WAS AN EXECUTIVE AT HONEYWELL AND LYNN TON INDUSTRIES AND SERVED AT THE U. S. DEPARTMENTS OF DEFENSE. LADIES AND GENTLEMEN, BILL GEORGE. [ Applause ]>>LEADERSHIP IS NOT ABOUT ADVANCING TO THE TOP OF AN ORGANIZATION. IT’S REALLY ABOUT SERVING THE PEOPLE THAT YOU WORK, AND I BELIEVE IT’S ABOUT EMPOWERING OTHER PEOPLE TO LEAD. BUT YOU KNOW, LEADERSHIP IS ABOUT THE STRUGGLES OF LIFE AND YOU LEARN OFTENTIMES, AS I THINK WE HEARD FROM OTHER LEADERS, MUCH MORE FROM YOUR FAILURES SHE IS YOUR DISAPPOINTSMENTS IN LIFE AND THE SORROWS AND THE TRIUMPH IF THAT COME AFTER THE TRAGEDIES. IN MY OWN CASE, I’VE FOUND — I LOOK AT MY LIFE AS A SERIES OCRUCIBLES, OF DOWNS FOLLOWED BY UPS. I REMEMBER AS A YOUNG BOY READING IN MY LATE TEENAGE YEARS THE BOOK BY THE POET PHILOSOPHER CALIOGA BROWN, I REMEMBER READING THE MORE SORROW THAT CARVES INTO YOUR BEING, THE MORE JOY YOU CAN CONTAIN. THE MORE THAT SORROW CARVES INTO YOUR BEING, THE MORE JOY YOU CAN CONTAIN. THE MORE YOU APPRECIATE THE DEPTHS OF LIFE, THE MORE YOU CAN APPRECIATE THE FULLNESS OF LIFE. AND I CERTAINLY LEARNED THAT THE HARD WAY. MY FATHER ALWAYS WANTED ME TO BE A LEADER, I WANTED TO BE A LEADER AND I WAS TRYING SO HARD TO LEAD, THAT I REMEMBER IN HIGH SCHOOL AND COLLEGE I RAN FOR ELECTIONS SEVEN TIMES IN A ROW AND LOST ALL SEVEN TIMES, AND SO I WASN’T MUCH OF A LEADER BECAUSE VERY SIMPLY, NO ONE WANTED TO FOLLOW ME BECAUSE IT WAS ALL ABOUT BILL AND IT WAS NOT ABOUT ANYONE ELSE. SO THAT’S WHY I LOST. ONE OF MY FRIENDS SAID, FROM HIGH SCHOOL, HE SAID THERE IS A REASON Y YOU FINALLY GOT IT. [ Laughter ]>>AND — BUT FROM THAT, CAME THE OPPORTUNITY, THEN, TO WORK ON MY OWN DEVELOPMENT. I GOT MORE OPPORTUNITIES AFTER THAT IN COLLEGE THAN I EVER ANTICIPATED TO LEAD, AND IN MY MID 20s, I EXPERIENCED VERY DEEP SORROW TWICE, WHEN MY MOTHER PASSED AWAY VERY SUDDENLY OF A HEART ATTACK FOLLOWING A COUPLE OF BOUTS WITH CANCER, AND THEN 18 MONTHS LATER, THREE WEEKS TO THE DAY, MY FIANCEE DIED AND I WAS SO LONELY AND SO CONFUSED ABOUT WHAT WAS LIFE ALL ABOUT. AND, YOU KNOW, YOU ASK FOR ANSWERS, YOU DON’T GET ANY ANSWERS BUT YOU KEEP GOING FORWARD AND YOU HAVE FRIENDS AROUND YOU TO SUPPORT YOU, AND AN INCREDIBLE GIFT CAME INTO MY LIFE SHORTLY THEREAFTER AND THAT WAS MY WIFE PENNY, AND MAYBE SHE FOUND ME AT MY MOST VULNERABLE BUT SHE WAS THERE FOR ME WHEN IT COUNTED, AS SHE HAS BEEN AT EVERY STEP IN MY LIFE AND REALLY THE REASON FOR WHATEVER SUCCESSIVE’ HAD IS BECAUSE OF PENNY BEING THERE WITH ME AND GUIDING ME AND KEEPING ME ON TRACK, EVERY TIME I LOSE SIGHT OF MY TRUE NORTH AND TAKE A RIGHT TURN, SHE CULLS ME BACK ON TRACK. AND FOR HER, I’M FOREVER GRATEFUL. AND SO, YOU KNOW, IN THE END, THERE WAS AN OPPORTUNITY FOR GOING FORWARD AND I HAD SOME GREAT CAREER OPPORTUNITIES, I HAD SOME GREAT EXPERIENCES WITH LITTON, A GREAT EXPERIENCE AT HONEYWELL BUT THERE WAS A TIME AT HONEYWELL I HIT THE WALL. I WAS DOING TURNAROUND AND I SAW MYSELF AS A BUILDER AND I REALLY WASN’T LOVING MY JOB. IN FACT, I WAS MISERABLE AND I THINK THE REAL REASON, AS PENNY POINTED OUT AND DOUG BAKER AND OTHERS POINTED OUT, IS I WAS CHASING MY EGO OF BEING C.E .O . MORE THAN FINDING AN ORGANIZATION WHERE I COULD REALLY MAKE A DIFFERENCE. AND OUT OF THAT DECISION TO BACK AWAY CAME THE OPPORTUNITY TO GO TO MEDTRONIC WHERE I REALLY FOUND MYSELF TOTALLY IN SYNC, NOT ONLY WITH THE ORGANIZATION’S MISSION BUT WITH AN ORGANIZATION THAT CAN APPRECIATE ME FOR WHO I WAS AND LET ME BE WHO I WAS AND WHERE I FELT LIKE I COULD REALLY SERVE OTHERS THROUGH MY LEADERSHIP. SO FINALLY AFTER THREE SHOTS AT IT, I THINK, MAYBE, I GOT IT A LITTLE BIT, THAT LEADERSHIP WAS NOT ABOUT I, IT WAS MORE ABOUT WE AND WE’RE RIGHT ABOUT THAT BECAUSE I THINK THAT’S A VERY SIGNIFICANT TRANSFORMATION THAT ALL LEADERS HAVE TO GO THROUGH TO REALLY UNDERSTAND AT A DEEPER LEVEL WHAT THEIR LEADERSHIP IS ALL BAND THEN ABOUT 10, 11 YEARS AGO, I EXPERIENCED MY — NOT MY FINAL CRUCIBLE BUT MY MOST RECENT ONE WHEN PENNY WAS DIAGNOSED WITH BREAST CANCER. AT FIRST WE WERE BOTH TRAUMATIZED BUT I WAS IN DENIAL ABOUT SOME OF THIS BECAUSE OF SOME OF THE EARLIER EVENTS IN MY LIFE BUT IT REALLY CAUSED US TO BOND EVER MORE CLOSELY TOGETHER. AND I LEARNED SOMETHING MORE ABOUT LEADERSHIP FROM PENNY. THAT LEADERSHIP IS NOT ALWAYS ABOUT LEADING FROM THE FRONT BUT LEADING FROM THE REAR, LEADING FROM UNDERNEATH, AND PENNY NEVER SAW HERSELF AS A LEADER BUT SHE FOUND IN HER PASSION FOR CHANGING MEDICINE, THE WAY MEDICINE IS TAUGHT AND THE WAY MEDICINE IS PRACTICED, HER POWER, AND SHE FOUND THAT SHE WAS GOING TO MAKE CHANGES, SHE WAS GOING TO HAVE TO STEP UP AND LEAD. AND SO SHE TOOK THE PASSION THAT CAME OUT OF THIS TERRIBLE EXPERIENCE AND ORDEL SHE HAD WITH BREAST CANCER TO FOLLOW THE OPPORTUNITY TO LEAD IN A VERY SIGNIFICANT WAY AND TO EMPOWER OTHERS AROUND HER TO GET SO INSPIRED ABOUT CHANGING MEDICINE TO MAKE IT MORE PATIENT-CENTERED, TO MAKE IT LOOK AT THE WHOLE PERSON, MIND, BODY, HEART, SPIRIT, NOT JUST LOOK AT US AS A BODY PART. SO OUGHT OF THOSE FOUR EXPERIENCES, I’VE LEARNED A GREAT DEAL MORE ABOUT LEADERSHIP, AND I’M GOING TO NOW HAVE PETER COME BACK AND INTRODUCE YOU TO THESE EIGHT TRAFFIC LEADERS WE HAVE HERE WHO WILL TELL WHAT YOU REAL LEADERSHIP IS ALL ABOUT. [ Applause ]>>LET ME BEGIN WITH ELLEN BREYER, THE PRESIDENT OF THE HAZELDEN FOUNDATION. COME ON UP. NEXT ON THE HIT PARADE IS MIKE SWEENEY, MIKE, COME ON UP. MIKE IS A MANAGING PARTNER WITH GOLDNER HAWN, A WEALTH OF EXPERIENCE IN BOTH OPERATING MANAGEMENTS AND CORPORATE FINANCE ROLES. THIRD ON OUR PALE IS MANNY VILLAFANA. MANNY, HE’S BEEN THE FOUNDER OF CARDIAC PACE MAKERS OF St. JUDE MEDICAL, OF A. S. T. MEDICAL, GV MEDICAL AND ONE OTHER ONE. MARTHA GOLDBERG ARONSON. SHE’S THE VICE PRESIDENT OF INVESTORS RELATIONS AT MEDTRONIC. STEVE ROTHSCHILD, THE FOUNDER AND CHAIRMAN OF TWIN CITIES RISE. BEGAN HIS CAREER AT GENERAL MILLS WHERE HE WAS AN EXECUTIVE AND FOUNDED RISE, ACTUALLY RELATIVELY RECENTLY. SIXTH ON OUR PANEL IS REATHA CLARK KING. SHE’S BEEN SO MANY THINGS, INCLUDING A MENTOR TO ME. SHE WAS THE PRESIDENT AND CHAIRMAN OF THE GENERAL MILLS FOUNDATION FOR QUITE SOME TIME AND BEFORE THAT, THE PRESIDENT OF METRO STATE UNIVERSITY. SIXTH ON OUR PANEL IS DOUG BAKER, OR 7th, I GUESS. I LOST COUNT. DOUG IS THE CHAIRMAN AND PRESIDENT — CHAIRMAN, PRESIDENT AND C. E. O. OF HE COULD LAB. ELLEN, I HAVE IS TO — OF ECO LAB. ELLEN, I HAVE TO START WITH YOU, WE’RE BROTHER AND SISTER IN ONE IMPORTANT DIMENSION THAT WE DIDN’T KNOW ABOUT. TURNS OUT SHE WAS A STUDENT ACTIVIST IN COLLEGE AND ALTHOUGH SHE STAYED WITHIN THE LINES, SHE WAS SO ACTIVE THAT THE NIXON ADMINISTRATION DRIPPED HER STUDENT LOANS. I WAS ONYX ON’S ENEMIES LIST. [ Laughter ] I I WAS ON NIXON’S ENEMIES LIST. WHEN I HEAR THAT STORY, IT MEANS YOU WERE A PERSON OF PASSION AND I KNOW YOU WERE A PERSON OF PASSION BUT THERE’S TWO THINGS ABOUT YOUR STORY THAT INTRIGUED ME, ONE IS THAT PASSION FROM THE ’76s THAT WAS ABOUT MAKING SOMETHING HAPPEN, MAKING IT CHANGE. BUT I’M ALSO INTRIGUED ABOUT HAZELDEN, WHY THAT IS SUCH AN IMPORTANT THING FOR YOU AND WHAT THAT CONNECTION WAS THAT NOT ONLY DID YOU SEE THAT OPPORTUNITY TO LEAD BUT IT WAS FROM DEEP INSIDE YOU, RIGHT?>>WELL, I THINK, YOU KNOW, WHEN I WAS DOING WHEN I WAS IN COLLEGE WAS SORT OF COSMIC IN SCOPE, BUT ACTUALLY WHAT HAPPENED TEN YEARS AFTER THAT MADE IT VERY PERSONAL. MY FATHER, WHOM I WAS VERY CLOSE TO, DIED OF ALCOHOLISM WHEN HE WAS 53 YEARS OLD. AND THAT WAS A GREAT PERSONAL SADNESS, AND AGAIN, I KEPT THINKING, WHY DOES THIS — WHY DOES THIS HAVE TO HAPPEN? YOU KNOW, IS THERE SOME WAY THAT I CAN DO SOMETHING — SOMETHING ABOUT THIS. I DIDN’T KNOW HOW THAT WAS GOING TO UNFOLD BECAUSE I WASN’T AT HAZELDEN FOR MANY, MANY YEARS AFTER THAT. BUT DIFFICULT WIND UP AT HAZELDEN IN THE FAMILY PROGRAM ALMOST 20 YEARS AFTER MY FATHER DIED, THINKING THAT I HAD DONE QUITE WELL IN MY LIFE AND MY FAMILY HAD SURVIVED THAT QUITE WELL. BUT I WAS APPROACHING THE AGE WHEN MY FATHER HAD RUN INTO SO MUCH TROUBLE AND I REALIZED I HADN’T REALLY DEALT WITH A LOT OF THOSE THINGS. AND THAT GOING THERE WAS A WONDERFUL HEALING EXPERIENCE FOR ME BUT I ALSO MET THE PEOPLE THAT EVENTUALLY LED ME TO THE BOARD OF HAZELDEN AND ULTIMATELY TO THE JOB THAT I HAVE NOW, AND I REALLY LIKE TO THINK MY FATHER HAD A HAND IN THAT.>>WHEN A CONNECTION. PERSONAL PASSION, THE PERSONAL STORY, AND NOW THE LEADERSHIP OPPORTUNITY. NOW, ROTHSCHILD, YOU, I DON’T GET. [ Laughter ]>>NOT ALONE THERE, PETER.>>I SEE THERE’S MANY PEOPLE NODDING. HERE’S THIS INCREDIBLY SUCCESSFUL EXECUTIVE AT GENERAL MILLS. I MEAN, YOU GOT IT ALL, I MEAN, RIGHT? IT’S INCREDIBLY SUCCESSFUL COMPANY AND YET YOU DECIDE TO TAKE A BREAK AND YOU KIND OF THINK ABOUT WHAT YOU WANT TO DO AND THIS OFFER COMES ALONG TO BECOME THE C.E .O . OF ANOTHER COMPANY. AND IT DOESN’T WORK OUT AND WHAT HAPPENED THERE? WHAT WENT — WHAT LED TO YOU RISE, THEN? HOW DID THAT EXPERIENCE GET YOU TO RISE AND HELP YOU SEE WHERE YOUR PASSION ATTENTION REALLY WERE?>>WELL, YOU COULD ASK MY PSYCHIATRIST, HE’S. .. [ Laughter ]>>I HAD BEEN AT GENERAL MILLS FOR OVER 22 YEARS, I HAD OPPORTUNITY TO START A COMPANY CALLED I DON’T MAYO GURT AND I — YOPLAIT YOGURT AND I BECAME AN EXECUTIVE VICE PRESIDENT. THAT’S LIKE BEING IN PURGATORY, YOU’RE WAITING FOR THE ASCENT TO HEAVEN BUT YOU COULD EASILY WIND UP GOING TO HELL. [ Laughter ] BUT I HAD BEEN IN THE JOB FOR EIGHT YEARS AND I WASN’T LOVING ANYTHING ANYMORE. I WAS THE PERSON IN THE MIDDLE, I WASN’T THE C.E .O . OF THE COMPANY, I WASN’T RUNNING A DIVISION OR A SUBSIDIARY LIKE I ONCE DID AND I MISSED THAT. I DIDN’T SEE MYSELF GETTING THAT OPPORTUNITY AT GENERAL MILLS, CERTAINLY WITHIN THE TIMEFRAME THAT I WAS INTERESTED IN. AND I WAS STALE, I WAS STARTING TO GET DIFFICULT AT HOME, AND — NOT THAT I HADN’T BEEN DIFFICULT BEFORE. [ Laughter ]>>AND I KNEW THAT I HAD TO CHANGE. I JUST NEEDED TO CHANGE AND I KNEW THAT I HAD TO MAKE A BIG CHANGE. MY WIFE WAS A SUCCESSFUL ENTREPRENEUR, OUR THIRD CHILD, OUR SON WAS STILL IN HIGH SCHOOL AND THEY HAD BASICALLY SUPPORTED ME. AND I HAD KIND OF THOUGHT OF MYSELF AS THE CENTER OF THE FAMILY, EVEN THOUGH I HATED TO ADMIT IT FOR MANY YEARS. IT WAS NOW MY TURN TO KIND OF DO SOMETHING ELSE. SO I INITIALLY STARTED TO LOOK FOR NEW WORK IN MINNEAPOLIS AS A — START SOMETHING, STARTED TO INVEST IN COMPANIES. A GOOD FRIEND OF MINE SAID TO ME, STEVE, YOU’VE BEEN DOING THIS KIND OF STUFF SO LONG, MAYBE YOU OUGHT TO ASK YOURSELF SOME TOUGH QUESTIONS. SO I HIRED SOMEBODY TO DO IT. AND AS A RESULT OF THAT, I DECIDED THAT THE MOST IMPORTANT THING IN MY LIFE WASN’T MY PROFESSIONAL LIFE, THAT I WANTED TO BECOME A BETTER HUSBAND AND I WANTED TO BECOME A BETTER FATHER. SO I TOOK A YEAR OFF AND DURING THAT YEAR, I SPENT MORE TIME WITH MY SON, WHO WAS STILL AT HOME, MY TWO DAUGHTERS HAD LEFT AND WERE IN CLEM OR WORKING, AND I SPENT MORE TIME WITH MY WIFE, MARILYN AND TRIED TO BE MORE SUPPORTIVE, TRIED TO BECOME A BETTER LISTENER. I THOUGHT I WAS A GOOD LISTENER BECAUSE AT WORK PEOPLE LISTENED TO ME AND THEN I — [ Laughter ]>>BUT AT HOME, SHE TOLD ME IT DIDN’T WORK LIKE THAT. [ Laughter ]>>AND MY SON, WHO’S A REMARKABLE YOUNG MAN, WAS COMING HOME FROM A MEETING, HE WAS A JUNIOR IN HIGH SCHOOL AND I SAID WHERE HAVE YOU BEEN, ZAK, HE SAID I’VE BEEN AT THE MINNEAPOLIS INITIATIVE AGAINST RACISM, WHICH SOME OF YOU MAY REMEMBER DON FRAZIER AND OTHERS HAD STARTED. A FRIEND OF MINE ALSO MENTIONED IT TO ME SO I WENT TO A MEETING AND I GOT HOOKED. AND I STARTED TO THINK MUCH MORE SERIOUSLY ABOUT WHAT WAS HAPPENING IN OUR COMMUNITY AROUND POVERTY, AND ONE DAY I WAS SITTING IN MY OFFICE DOWNTOWN, AND I SAID, YOU KNOW, WHAT WOULD IT BE LIKE TO BE 23-YEAR-OLD AND BLACK AND FLIPPING HAMBURGERS AT McDONALD’S. WHAT WOULD IT BE LIKE IF YOU WANTED TO PROGRESS, IF YOU DIDN’T WANT TO DO THIS FOR THE REST OF YOUR LIFE? AND I HAD THIS STEREOTYPICAL VIEW OF BEING THAT MAN. I PROBABLY DROPPED OUT OF SCHOOL, I HAD LOW SKILLS, I MAY HAVE FATHERED CHILDREN OUT OF WEDLOOK, MAY HAVE BEEN IN JAIL, MAY HAVE DONE DRUGS, PROBABLY HAD A LOT OF LOANS, MAY HAVE CHILD SUPPORT THAT I — AND SO I STARTED CALLING PEOPLE UP AT THE YOU NATURED WAY, CALLED JIM COLVILLE UP AND ON THEES AND SAID, YOU KNOW, WHO CAN HELP ME, AS THIS 23-YEAR-OLD. AND QUITE FRANKLY, I DIDN’T FIND MUCH. I FOUND THERE WERE A LOT OF GOVERNMENT-SPONSORED NONPROFITS THAT DEAL WITH PEOPLE ON WELFARE, MOSTLY CUSTODIAL WOMEN, AND THEN THERE ARE A LOT OF COMMUNITY COLLEGES AND TECHNICAL COLLEGES THAT SUPPORT PEOPLE WHO HAVE SOME CREDENTIALS, BUT FOR THIS PERSON, THERE WASN’T MUCH. SO I STARTED LOOKING AROUND THE COUNTRY AND PRETTY SOON I WAS GOING ON A PLANE AND I DECIDED I COULDN’T DO THE INVESTMENT THING, AND THIS IS WHERE MY PASSION WAS. SO I STARTED TWIN CITIES RISE IN 1993 WITH THE HELP OF A LOT OF PEOPLE AND I HAVEN’T LOOKED BACK SINCE.>>YOUR TIME AT GENERAL MILLS, WOULD YOU HAVE FOUND SOMETHING LIKE RISE?>>WOULD I HAVE FOUND IT?>>YEAH.>>NO, I DON’T THINK SO. I LIKE TO THINK OF IT THAT THE METAPHOR THAT I USE TO MYSELF AND I USE FOR OUR — I FELT LIKE I WAS IN A BIG HULA HOOP. STANDING THERE WITH MY ARMS UNAND MY FEET BRACED. IF I WANTED TO INVESTIGATE SOMETHING NEW, I WOULD HAVE BEEN MOVING, YOU KNOW, AT MOST 90 TO 100 — 120 DEGREES. WHICH WOULDN’T HAVE BEEN VERY FAR FROM WHAT I WAS DOING AND THAT’S TYPICAL OF A LOT OF US WHO ARE IN SOMETHING, RIGHT? SO I REALIZED I HAD TO LET GO. THE RISK IS YOU FALL ON YOUR FACE. BUT I GRABBED IT IN A DIFFERENT PLACE AND I DON’T THINK I WOULD HAVE DONE THAT HAD I STILL BEEN THERE. AND THAT’S WHAT WE ASK OUR GRADUATES TO DO. THESE PEOPLE THAT LIVE IN GENERATIONAL POVERTY. WE ASK THEM TO GIVE THAT UP AND CHANGE THEIR BELIEF SYSTEM BUT THEY CAN’T GIVE UP THAT LIFESTYLE AND HOLD ON TO IT WHILE THEY’RE EXPERIENCING SOMETHING NEW. THEY HAVE TO LET GO, AS WELL, AND THAT TAKES THEM A LOT MORE COURAGE THAN IT TOOK ME.>>A GREAT LESSON, YOU HAVE TO LET GO IN ORDER TO GRAB ON. THAT PASSION — HEAR THESE TWO STORIES, THE PASSION DEEP INSIDE THESE FOLK AND THEY HAD TO HAVE AN OPPORTUNITY TO LET IT OUT. MAKES ME THINK OF THOSE CRUCIBLES THAT, THEY EACH HAD THEIR OWN CRUCIBLE, MIKE SWEENEY ADDS I CRUCIBLE. HE WAS LYING ON A COUCH. KIND OF A DREAM CRUCIBLE, DON’T YOU THINK? HOW DID THAT HAPPEN? HOW DID YOU ENDS UP ON THAT COUCH?>>WELL, I HAD CANCER AND I WAS 28 YEARS OLD AND BEFORE THAT TIME, I DIDN’T HAVE TO THINK ABOUT WHAT MY FAITH WAS, I DIDN’T HAVE TO BELIEVE IN GOD. I THOUGHT I WAS GOD. [ Laughter ] AND TOYED THINK ABOUT THINGS LIKE MORTALITY FOR THE FIRST TIME AND MOST PEOPLE DON’T REALLY GET AN OPPORTUNITY TO THINK ABOUT WHEN THEY’RE 28. I WAS THINKING ABOUT IT, BUT I THOUGHT, NO PROBLEM, I CAN HANDLE THIS. I WAS LUCKY, I HAD A CURABLE FORM OF CANCER. WHILE I WAS GOING THROUGH THE TREATMENT PROTOCOLS, WHAT I THOUGHT I WAS DOING WAS FIGHTING CANCER AND THAT’S WHERE MY ENERGY WAS GOING, FIGHTING CANCER. AFTER THE TREATMENTS ENDED, AND PEOPLE STOPPED SAYING TO MOE, HOW ARE YOU, HOW’S IT GOING, HOW ARE YOU FEELING? ONE MORNING I WOKE UP AND LITERALLY COULDN’T GET OUT OF BED. IT TOOK ME HOURS TO MAKE MY WAY TO THE COUCH AND WHEN I FINALLY GOT TO THE COUCH, IT WAS A COUPLE OF DAYS BEFORE I COULD GET UP AGAIN. I HAD NEVER RUN INTO ANYTHING WHERE I COULDN’T, THROUGH THE FORCE OF WILL, OVERCOME SOME TENDENCY LIKE THAT. I LITERALLY COULDN’T GET UP. SO IT WAS A LONG TIME BEFORE I REALLY FOUND MY WAY BACK TO THINKING ABOUT MY LIFE AND WHAT WAS REALLY GOING ON, BUT IT WAS JUST A SHOCK TO THE SYSTEM OF A YOUNG MAN WHO HADN’T HAD TO THINK ABOUT SUCH THINGS BEFORE HAVE THE>>AND WHAT DID THAT TEACH YOU, WHAT CAME OUT OF THAT CRUCIBLE MOMENT THAT AFFECTED YOUR TRAJECTORY, YOUR PASSIONS, YOUR TRUE NORTH?>>THE THINGS THAT WERE PORT TO — IMPORTANT TO ME IN THOSE DAYS WERE LARGELY PERSONAL SUCCESS AND IT WAS KIND OF A POST-ADOLESCENCE PERIOD WHERE WHAT I WAS TRYING TO DO WAS FIND MY PLACE IN THE WORLD. IT MAY SOUND SILLY OR FACETIOUS TO SAY THAT I WAS LUCKY TO GET THE CANCER BUT IT BECAME THAT THING THAT MOVED ME INTO ADULTHOOD AND MADE ME THINK ABOUT MY LIFE IN A DIFFERENT WAY. WHAT IT BECAME FOR ME WAS THE NOTION OF PERSONAL SUCCESS WAS A VERY SMALL IDEA, AND THE NOTION OF LIVING AN INTEGRATED LIFE WAS A MUCH BIGGER IDEA. WHAT I THINK ABOUT WHEN I THINK OF AN INTEGRATED LIFE IS BEING THE SAME PERSON I AM AT HOME AS I AM IN THE OFFICE OR THE SAME PERSON WITH MY FRIENDS AS I AM WITH MY BOSS. I’VE NEVER BEEN A FAN OF THE IDEA OF ACTING PROFESSIONAL BECAUSE TO ME ACTING PROFESSIONAL IS PRETENDING IN SOME WAY TO BE A MORE SERIOUS HUMAN BEING THAN YOU MIGHT FIND YOURSELF ACTUALLY BECOME AND THERE’S NO AUTHENTICITY IN THAT. SO, FOR ME, THE IDEA OF AN INTEGRATED LIFE WHERE WORK, HOME, FRIENDS, COLLEAGUES, ALL MELDED TOGETHER AND THE SHARING OF THE SUCCESS AMONG ALL THOSE PEOPLE, ALL OF THIS IS A BIT OF AN ECO SYSTEM MOVING TOGETHER WAS THE THING THAT BECAME IMPORTANT TO ME.>>HAVE YOU BEEN ABLE TO LIVE THAT OUT AS A PRIVATE EQUITY PERSON?>>YEAH, BEST PLACE OF ALL, I FOUND. THE PRIVATE EQUITY BUSINESS SUITS ME BETTER THAN ANYTHING I’VE EVER DONE BECAUSE RIGHT NOW I GET TO WORK WITH EIGHT COMPANIES, SOMETIMES WE INVEST IN SIX, SOMETIMES A DOZEN, BUT I GET TO WORK WITH ALL THOSE PEOPLE SO I GET TO SHARE THESE IDEAS A LITTLE BIT, SO, FOR EXAMPLE, I DON’T WANT TO BE SOMEONE WHO’S ENVIRONMENTALLY CONSCIOUS AT HOME AND PERSONALLY, BUT NOT PROFESSIONALLY. I DON’T WANT TO LIVE MY LIFE IN WORKING WHERE I SIMPLY SAY, IS IT LEGAL OR IS IT NOT LEGAL? THAT’S NOT THE WAY I LIVE MY LIFE PERSONALLY, SO HOW DO I BRING THOSE KIND OF VALUES, WITHOUT BEING COMPLETELY OVERBEARING, BECAUSE I’M PART OF THESE BUSINESSES THAT WE GET TO INVEST IN AND I’M ACTIVE WITH THEM, BUT I HAVE TO RECOGNIZE THAT THERE’S A MANAGEMENT TEAM AND HUNDREDS OR THOUSANDS OF PEOPLE THAT GO TO WORK THERE EVERY DAY AND THEY HAVE THEIR VALUE SYSTEMS. SO I GET TO START CONVERSATIONS ABOUT THE THINGS THAT MATTER. PART OF THAT’S BUSINESS SUCCESS. PART OF IT’S ABOUT BEING A GOOD PART OF THE COMMUNITY AND THE NOTION THAT THERE ARE FIVE IMPORTANT CONSTITUENCIES, CUSTOMERS, EMPLOYEES, SHAREHOLDERS, VENDORS AND THE COMMUNITY AT LARGE AND IF YOU’RE GOING TO HAVE A SUCCESSFUL BUSINESS, ALL FIVE OF THOSE CONSTITUENCIES HAVE TO BE WELL SERVED. FROM TIME TO TIME WHEN THINGS GET OUT OF BALANCE, YOU REFOCUS AND HELP THE PENDULUM COME BACK TO THE CENTER SO THAT OVER TIME, WE’RE ALL DOING WELL. THE CHANCE TO HAVE INFLUENCE OVER A BROADER FIELD WHERE WE’RE WORKING WITH EIGHT, NINE, TEN, 12 COMPANIES, WOULD THAT — WITH THAT KIND OF WORTH, WHO COULD BE LUCKIER THAN I ANNUAL.>>WHAT A GREAT STORY. THANK YOU FOR SHARING. VERY PERSONAL, I KNOW. DOUG BAKER HAS THIS GREAT STORY THAT HE WANTED TO DO ONE OF THESE 360-DEGREE PERFORMANCE EVALUATION DEALS SO HE LET HIMSELF GO FIRST AND WHAT DID YOU LEARN FROM THAT, DOUG? [ Laughter ]>>THINK BEFORE ACTING. [ Laughter ]>>THIS ALL STARTED, I WAS JULIE AND I AND OUR CHILDREN WERE IN GERMANY, WE WERE MOVING BACK. WE, AS A CORPORATION HAD JUST BOUGHT A NEW COMPANY IN GREENSBORO, NORTH CAROLINA. WE WENT THERE, IT WAS A FAMILY COMPANY AND I WENT THERE AS THE GUY FROM CORPORATE TO HELP GUIDE THE WAY. I’M THERE, THEY PUT ME IN AN OFFICE WAY OFF THE BEATEN PATH WITH A BIG PLANT SO NOBODY COULD SEE ME AS THEY PASSED THROUGH THE DOOR. [ Laughter ]>>OVER TIME, I KIND OF WORKED MYSELF INTO THE ORGANIZATION BECAUSE I WASN’T GOING TO SIT THERE BEHIND THE PLANT AND WORKED AND PUSHED AND ALL OF A SUDDEN, THERE WAS A CRISIS THAT HIT THE BUSINESS SHORTLY AFTER WE BOUGHT IT AND THAT WAS OUR LARGEST CUSTOMER, McDONALD’S, WHICH WAS ABOUT 65% OF THE SALES OF THIS COMPANY, QUICKLY TOLD US THAT THEY WERE GOING TO HAVE — HALF OUR BUSINESS. THAT MEANS OUR BUSINESS WAS GOING TO BE DOWN BY A THIRD. IT WAS A BIG DEAL, A BIG PROBLEM. SO WE STARTED WORKING ON HOW TO FIX THIS. MEANWHILE, THE GUY WHO WAS RUNNING IT ANNOUNCES HE’S GOING TO REENTIRE — RETIRE, WHICH WAS FINE WITH ME BECAUSE I WANTED TO ASCEND TO LEAD THIS COMPANY. SO AS PART OF THIS TRANSITION, I FIGURE WE NEED TO CHANGE, WE NEED TO RUN THIS DIFFERENTLY. WE’RE GOING TO GO GET A CONSULTANT AND PART OF THIS WAS DO 360 FEEDBACK AND I’LL BE FIRST. SO I EXPECTED TO GET NOT ALL POSITIVE FEEDBACK BUT I FIGURED IT WOULD BE BETTER THAT BE AVERAGE. SO I GO THROUGH THIS PROCESS AND WE HAVE ALL THESE PEOPLE GIVING PLEA 36 OH 0 AND WE TAKE THIS, IT’S SECRET DATA, IN THIS ENVELOPE, AND WE GO IN THIS ENCLAVE OUT IN THE FORESTS OF NORTH CAROLINA WITH EIGHT OTHER STRANGERS IN OTHER COMPANIES AND WE UNVEIL THE DATE AT THAT TIME AND THE DATA WAS ALARMING. [ Laughter ] I DON’T KNOW WHAT ELSE TO SAY. BASICALLY, THEY LIKE ME, THEY TRUST ME BUT THEY COULDN’T TAKE ME BECAUSE I WAS ALWAYS ACTING AS IF I WAS THE SMARTEST GUY IN THE ROOM, NOBODY ELSE’S IDEAS MATTERED, I WAS PUSHING MY AGENDA, TOO MUCH ABOUT ME. WHEN YOU REALLY READ IT, YOU LOOKED AT IT, IT WAS JUST TERRIBLE. SO THE FIRST REACTION IS, WHAT — THIS IS NOT REALLY THE RIGHT DATA — DATA, BAD DAY FOR ALL THESE PEOPLE. [ Laughter ] HOW TO GET THROUGH IT? SO I’M NOT GOING TO WORK AND POLITIC THIS CROWD THAT I’M IN THE WOODS STUCK WITH FOR THE WEEK. [ Laughter ]>>PART OF THIS EXERCISE IS THIS CROWD GIVES YOU FEEDBACK, ALSO, AND WOULDN’T YOU KNOW IT, SAME FEEDBACK. [ Laughter ]>>IT WAS REALLY, I WOULD SAY, ONE OF THE FORMATIVE EXPERIENCES BECAUSE I CAN’T DESCRIBE IT. I REALLY FELT LIKE WHEN I WAS AT MY WORST, SOMEBODY PUT A MIRROR IN FRONT OF MY FACE AND I COULD SEE IT. AND IT WAS JUST LIKE A SLASH. IT WAS A GIFT IN A LOT OF WAYS, AND IT RESONATED. SO I WENT BACK AND I DID WHAT I NEEDED TO DO WHICH IS I SHARED IT ALL WITH ALL THE PEOPLE THAT WORKED FOR ME. AND BASICALLY SAY, I HEAR YOU, I GET IT. HERE’S HOW I’M GOING TO WORK ON THIS BUT WHAT I NEED FROM YOU IS TO CALL TIMEOUT AND PUSH AND HELP ME FIX THIS. IT WAS AN EMPOWERING EXERCISE FOR ME, FOR THEM, FOR EVERYTHING ELSE. NOW, SAME TIME PERIOD AND I DON’T KNOW HOW THESE ARE RELATED AND I CAN’T TELL YOU EXACT MONTHS. WE’RE GOING THROUGH AND I THINK PROBABLY IN THE HE PIF FEE PERSONALLY, ONE DAY THIS IS A BUSINESS FOR MAKING SO MUCH AND SAFETY ITEMS FOR FAST-FOOD STORES, SO WE HAVE A PLANT, AN R & D CENTER, OUR OFFICES, BIG PARKING LOT. THE PARKING LOT IS FULL OF CARS, PRINCIPALLY OF PEOPLE WORKING BACK IN THE PLANT MAKING THE GOODS, IN NORTH CAROLINA DURING THIS PERIODS IN NORTH CAROLINA, WHICH IS IN THE MID ’90s, HAVE TEXTILES MOVING OUT, TAKING A DIVE, A DISASTER AND THE FURNITURE BUSINESS IS THE REST OF THE BUSINESS WHICH IS BEING OFF-SHORED AND MOVING AWAY. SO THE EMPLOYMENT ENVIRONMENT IN THIS AREA IS NOT GOOD AT ALL. AND WE HAD SOME OF THE BEST JOBS THERE. SO YOU LOOK OUT THERE AND FINALLY THIS WHOLE McDONALD’S FIGHT CAME MUCH CLEARER TO ME WHICH WAS BITS A ABOUT THE PEOPLE WHO DRIVE UP IN THOSE CARS. THEY WERE FIGHTING FOR IS TO PROTECT THEIR JOBS. I’M GOING TO BE FINE, I’LL ENDS UP IF WE LOSE IT AND IT’S A DISASTER, I’LL BE EMBARRASSED, MOVE ON, I’LL GET ANOTHER JOB, I’LL ENDS UP RICH, NOT MY PROBLEM. YOU KIND OF GO THROUGH THE EQUATION, YOU GO THIS REALLY ISN’T ABOUT ME AND IT’S NOT MY PRINCIPLE, THE FIGHT IS FOR THEM. AND IT’S FOR OUR PEOPLE AND IT’S FOR ALL THE PEOPLE WHO COUNT ON THE JOBS AND THE LIVELIHOODS AND IT WAS ONE OF THOSE MOMENTS WHERE THE WHOLE POWER SHIFTED AND THAT WAS THEN THE CONVERSATION WITH THE TEAM. AND I THINK AT THE END, THAT’S SORT OF HOW I WOULD DEFINE — WHEN YOU TALK ABOUT PASSION, I THINK WE’RE ALL GOOD TO SELL SOAP AND WE LOIFT, I THINK WE DO GOOD THINGS FOR SOCIETY BUT AT THE END OF THE DAY, WE COULD DO A LOT OF THINGS AS LONG AS I FELT WE WERE ABLE TO CREATE THE RIGHT ENVIRONMENT FOR PEOPLE TO ENRICH THEIR LIVES, TO PROSPER, TO BECOME ALL THEY CAN BE AND TO PUSH AND GROW. AND THAT’S REALLY — IN THE PASSION THAT DRIVES, AND IT WAS THAT MOMENT. THERE’S NOT MANY TIMES WHERE YOU HAVE THESE, SO IT WAS A GIFT, SO THAT’S THE STORY.>>WHAT A GIFT. THANK YOU SO MUCH. AND THE PERSON SITTING NEXT TO YOU, REATHA CLARK KING, HAS A WONDERFUL RELATIONSHIP STORY. I WANT TO READ YOU THIS — THIS IS ONE QUOTE FROM REATHA WHICH I THINK IS SO WONDERFUL. IT’S REALLY ABOUT THIS NOTION THAT IT’S THE PEOPLE AROUND YOU THAT HELP MAKE THINGS POSSIBLE. SHE SAYS, THE SISTERS, WHO ARE THE OLDER WOMEN IN CHURCH, RIGHT?>>YES.>>THE SISTERS, MY TEACHERS AND PEOPLE IN THE COMMUNITY KEPT AN EYE ON ME AND ENCOURAGED ME TO OVERCOME UNJUST BEARERS AGAINST BLACK PEOPLE. TELL US WHAT THAT MUST HAVE BEEN LIKE AND THE ENERGY THAT GAVE YOU AS YOU’VE GONE THROUGH THIS MARVELOUS CAREER THAT YOU’VE HAD.>>IT BEGAN AT BIRTH IN RURAL SOUTH GEORGIA, VERY IMPOVERISHED COMMUNITY, AND WHERE THERE WAS NO HOPE. MANY PEOPLE WOULD HAVE SAID THERE WAS JUST NO HOPE FOR US TO SUCCEED AGAINST THE ODDS, AND THE ODDS WERE REALLY INTRACTABLE. AT THAT TIME, IN THE UNITED STATES, I WAS BORN THIS 1938, SO MOST OF YOU CAN COUNT. [ Laughter ]>>I’M COMING UP TO SEVEN DECADES BUT AT THAT TIME, WE HAD OUR OWN SYSTEM OF APART TIED, ACTUALLY, IN SOUTH GEORGIA. DISCRIMINATION WAS SANCTIONED BY LAW AND SEGREGATION, AS WELL, SO WE HAD — IT WAS — AND POVERTY WAS RAMPANT FOR US BLACKS, AND FOR MANY RURAL WHITES, AS WELL, BUT WE HAD THAT EXTRA BURDEN OF DISCRIMINATION SANCTIONED BY LAW AND BY — AND AN ENTRENCHED SYSTEM. SO I WAS BORN INTO THIS ENVIRONMENT. WHAT DO YOU DO WHEN YOU HAVE ALL THE STEREOTYPES THROWN AT YOU TO DEMEAN YOU AND MAKE YOUR SELF-IMAGE. EITHER YOUR FEATURES ARE UGLY, THICK LIPS, OR THERE WERE THOSE — OUR NAMES, THERE WAS NAME CALLING, WHICH NOW WE HAVE TELEVISION PROGRAMS ABOUT THE “N” WORD. OH, SOMEBODY USED THE “N” WORD AND I THINK, WHAT? THAT USED TO BE SO COMMON, EVERYWHERE, WHEN I WAS GROWING UP. I THINK IT IS GOOD TODAY THAT WE GET UPSET ABOUT IT BECAUSE IT SHOWS THAT WE ARE SHAPED OF IT AND WE DON’T WANT IT TO KEEP HAPPENING. BUT THOSE KIND OF STEREOTYPES REQUIRED EXTRA ENERGY TO OVERCOME AND TO KEEP YOUR SELF-IMAGE UP, BUT AT FOUR YEARS OLD, LIKE OTHER CHILDREN WHO WERE DEEMED SMART IN SCHOOL, I WAS LABELED AS BEING SMART BY THE TEACHER OF OUR ONE-ROOM — OUR ONE-ROOM SCHOOL HOUSE, WHICH WAS ALSO TO YOUR COMMUNITY CHURCH, AND ALL SEVEN GRADES WHICH ARE TAUGHT THERE. SHE WOULD GO BACK AND TELL PEOPLE IN THE COMMUNITY WHO WERE THE SMART CHILDREN. [ CHUCKLING ]>>I STARTED SCHOOL AT FOUR YEARS OLD, MY ODDEST SISTER WAS GOING TO SCHOOL AND MY MOTHER WENT TO THE FIELD TO WORK SO THE SCHOOL WAS THE DAY CARE CENTER. AND I ALSO, WE LEARNED A LOT AND WE TOOK ON RESPONSIBILITY BECAUSE SHE WOULD HAVE FOUND THE SMART CHILDREN TO HELP THOSE WHO WERE SLOWER SO SHE HAD A WAY OF MANAGING THAT CLASSROOM THAT I THINK WAS PRETTY CLEVER ON HER PART. BUT AT AGE FOUR, SHE STARTED TELLING PEOPLE IN THE COMMUNITY THOSE CLARK GIRLS ARE SMART, SO THE COMMUNITY PEOPLE STARTED WORKING ON US TO USE OUR HEADS AND STUDY HARD. WORK HARD. SO WE COULD GO AWAY AND GET EDUCATION, GO TO COLLEGE AND THEN WE CAN GET BETTER JOBS, BECAUSE THEN, THAT WAS THE AGE OF DENIAL OF OUR BETTER JOBS, GOOD WAGES FOR BLACKS AND EDUCATION, GOOD SCHOOLS, DECENT HOUSING, JUST EVERYTHING THAT COULD BE TAKEN AWAY FROM YOU WAS TAKEN AWAY FROM YOU. SO I BELIEVED WHAT THE SISTER SAID. NOW, THERE WAS A BRIGHT SPOT IN ALL OF THIS. THERE WAS A CHURCH LIFE, THAT WAS A THREE-HOUR SERVES ON SUNDAY, OR FOUR, HOWEVER LONG YOU STAYED THERE, AND YOU BEHAVED. THERE WAS A SCHOOL EXPERIENCE AND THERE WAS THE LIFE FAMILY NETWORK. MY MOTHER HAD 12 SISTERS AND BROTHERS, SO I NEVER RAN OUT OF AUNTS AND UNCLES OR COUSINS, AND EVEN THOUGH MY FATHER AND — MY MOTHER AND FATHER SEPARATED, THERE WAS MY GRANDMOTHER TO HELP OUT. BUT ILLITERACY WAS RAMPANT, MY FATHER AND GRANDMOTHER WERE ILLITERATE SO PEOPLE IN THE COMMUNITY COULDN’T HELP YOU WITH YOUR HOME WORK. WE CHILDREN WERE REALLY THRUST IN THE LEADERSHIP ROLE FOR THE COMMUNITY BECAUSE THEY WERE BANKING ON US TO GO AWAY AND DO GOOD. THEY WOULD TELL YOU, GO UP NORTH AND DO GOOD, WHATEVER YOU’RE DOING. AND THEY WERE PROUD OF THAT WE WERE CARRYING THE BANNER AND THE CHESS PEOPLE MAKE IT PLAIN, THEY SAY STUDY HARD, DON’T BE LAZY, KEEP YOURSELF UPRIGHT. THEY WANTED US TO LOOK LIKE PROFESSIONALS, YOU KNOW. [ CHUCKLING ]>>CARRY YOURSELF LIKE SOMEBODY AND DON’T GET IN TROUBLE. NOW, THAT WAS A CODE WORD. FOR GIRLS IT MEANT, DON’T GET PREGNANT AND EMBARRASS YOUR FAMILY. FOR BLACK MEN AND BLACK YOUNG MEN, IT MEANT DON’T HAVE CONFLICTS WITH WHITE PEOPLE BECAUSE IT WASN’T RACISM THEN, THEY FEARED LYNCHING, YOU KNOW. NOW, THE DISCRIMINATION IN OUR SOCIETY, THE TENSIONS WE HAVE, WE PUT THAT NICE WORD “RACISM REQUESTS ON IT. IT WAS A BIT MORE HARSH IN THOSE DAYS. WE WOULD HAVE CONSIDERED FLIPPING HAMBURGERS A HIGH-CLASS JOB. BETTER THAN PICKING COTTON AND STRAINING TOBACCO AND DOING A LOT OF THE HARD WORK IN HOMES, THE MAID WORK, CARRYING THOSE HEAVY MATTRESSES OUT ON YOUR BACK TO PUT THEM IN THE SUN, BUT WE — HIGH CLASS WORK WAS GETTING OUT OF THE AREA. I WAS A GREAT COTTON-PICKING, GREAT TOBACCO STRINGER. WE DID WHATEVER KIND OF WORK WE COULD GET, DECENT WORK TO EARN A BETTER LIVING. WELL, I WENT OFF TO COLLEGE EVENTUALLY, PROUDLY, AND I HAVE TO DO GOOD. WENT TO ATLANTA, GEORGIA, AND IT WAS JUST A MARVELOUS, MARVELOUS EXPERIENCE. WORKED HARD, 12 HOURS PER WEEK FOR FOUR YEARS, FOR 35 CENTS AN HOUR. IT SAYS IN THE BOOK, IN THE LIBRARY BUT IT WAS WILL THE REGISTRAR’S OFFICE. BUT HOW DID I GET TO THAT POINT, GETTING THROUGH THIS 30 YEARS OF THE CRUCIBLE? I THINK I USED THOSE INTANGIBLE ASSETS BUT I WOULD CALL THEM HIDDEN ASSETS NOW BECAUSE I KNEW I HAD THE ACADEMIC ABILITY AND I WAS DEPENDABLE, VERY IMPORTANT FOR BUILDING THE EDUCATION. I WAS — HAD A HUMILITY AND BACK THEN, I WAS WORKING AGAINST THREE HARDSHIPS, ONE, POVERTY, LACK OF MONEY, ONE, RACE, DISCRIMINATION BECAUSE OF RACE AND DISCRIMINATION BECAUSE OF GENDER. AND ONE THING YOU WASN’T IN THOSE DAYS, YOU MIGHT HAVE BEEN A SMART YOUNG WOMAN BUT IF YOU WERE BLACK, YOU WERE NOT UPPITY. YOU KEPT YOUR PLACE. AND LATER, I LEARNED THAT — AND WE ALL IN THE FEMINIST MOVEMENT LEARNED THAT ENGENDER, YOU KEPT YOUR PLACE, OTHERWISE YOU WERE DEEMED A RADICAL, YOU KNOW. SO I’M EVER SO GRATEFUL TO PETER AND ELLEN FOR THEIR ACTIVISM BECAUSE IN THE ’60s, THAT HELPED MOVE ME OUT OF THAT CRUCIBLE THAT HELPED TO SOFTEN THE ENVIRONMENT SO THAT I COULD MOVE OUT OF THE CRUCIBLE. SO THAT WAS 30 YEARS IN THE CRUCIBLE, AND THEN I CAME TO A POINT OF RECOGNIZING THAT MOST OF THAT 30 YEARS, GOING THROUGH THE UNIVERSITY OF CHICAGO, OUT OF COLLEGE, WORKING AS A MAID IN UPSTATE NEW YORK, WHICH I DID EVERY SUMMER AFTER MY COLLEGE WERE, I WOULD GET ON THE TRAIN IN ATLANTA, TRAVEL TO POLLING, NEW YORK, AND WORK IN A PRIVATE HOMES THERE FOR PEOPLE, THEN IN SEPTEMBER I WOULD GO BACK TO CLARK IN ATLANTA AND START MY SCHOOL WORK. NORMAN VINCENT PEELE, THE REVEREND NORMAN VINCENT PEELE, EDWARD R. MURROW, THEY HAD SUMMER HOMES OUT THERE AND THAT WAS JUST A WONDERFUL EDUCATIONAL EXPERIENCE FOR ME, TO SEE THE BIG CITY AND I DID THAT WHEN I WAS 17 YEARS OLD THE FIRST TIME. I EVEN WENT, AFTER I GRADUATED FROM CLARK AND BEFORE GOING TO THE UNIVERSITY OF CHICAGO, I WENT UP TO QUAKER HILL TO MAKE THAT $25 A WEEK AS A MAID. I HAD EVERY THURSDAY OFF AND I WOULD GO SIGHT-SEEING IN NEW YORK CITY. BUT AFTER 30 YEARS, I REALIZED THAT I HAD BEEN PIEWSHING THESE BEAREST OUT OF THE WAY, FOR ME, STUDYING CHEMISTRY, GETTING A Ph.D . DEGREE, THINGS THAT WOMEN WERE NOT SUPPOSED TO DO, ESPECIALLY BLACK WOMEN AND THAT WAS A PIVOTAL TIME IN MY LIFE BECAUSE I TURNED THEN TOWARDS PUSHING THE BEARERS OUT FOR OTHERS AND I — BARRIERS OUT FOR OTHERS AND I KNEW SO WELL WHAT IT WOULD MEAN. AND THAT CAME, BROUGHT ME TO JOBS LIKE METROPOLITAN STATE UNIVERSITY PRESIDENCY, PRESIDENCY OF THE GENERAL MILLS FOUNDATION, WHERE I WAS LEADING CHANGE. I WAS LEADING CHANGE. OTHER TIMES I’VE BEEN CAUSING CHANGE, BUT IT WAS QUOOIMENTLY TO DEAL WITH THE BARRIERS AND OBSTACLES. SO THE QUALITIES THAT I HAVE USED IN LEADERSHIP I THINK WERE BOTH CONDITIONED IN ME BY THOSE FIRST 30 YEARS, AND ACADEMIC ABILITY WHICH I JUST LOVE, INNOVATION, PROBLEM-SOLVING, AND RATHER THAN TO COMPLAIN, JUST WORK ON THE PROBLEM. I’M NOT A COMPLAINER. NOW SOME PEOPLE WILL TAKE THAT TO BE A WEAKNESS BUT I THINK THEY WILL LEARN QUICKLY, AFTER THEY WORK WITH ME, IT’S NOT A WEAKNESS, IT’S JUST I’M RESOURCEFUL IN THE WAY I APPLY MY ENERGY, MY TIME, MY RESOURCES. SO THE LAST 30 YEARS, I WAS LEADING CHANGE AND I THINK THAT’S PROBABLY A HALLMARK STRENGTH, AND THEN THE LAST TEN YEARS, THOUGH, I THINK HAVE BEEN MY MOST PRODUCTIVE AND CERTAINLY MY HAPPIEST BECAUSE I’VE GOTTEN TO THE POINT THAT I’M NOT HAUNTED BY THE FEAR THAT I WILL BE POOR AGAIN ONE DAY. MY HUSBAND WOULD LOVE TO HEAR THAT. [ Laughter ]>>HE WON’T BELIEVE IT BUT THAT BROUGHT A CERTAIN RELIEF, A CERTAIN FEELING. I’M STILL A CAPITAL SPENDER BUT BROUGHT A CERTAIN RELIEF, SO NOW I HAVE COME TO UNDERSTAND LIFE AND AUTHENTICITY EVEN BETTER BECAUSE I KNOW WHAT THE INTANGIBLE ASSETS ARE AND HOW VERY IMPORTANT THEY ARE AND THOSE HIDDEN ASSETS AND HOW TO USE THEM, HOW TO USE THE GIFT OF THE ART OF COMMUNITY SERVES WHICH GIVES ME SO MUCH JOY.>>AND WOULDN’T THOSE SISTERS BE PROUD?>>OH, YES, THEY WOULD.>>VERY PROUD. THAT SENSE OF EMPOWERMENT THAT YOU GOT FROM THAT COMMUNITY. YOU COULD JUST SEE HOW THAT — AND EMPOWERMENT IS SUCH A BIG THING FOR — FEELS TO ME FOR ALL OF YOU. MARTHA, YOU HAVE A WONDERFUL EMPOWERMENT STORY ABOUT LIMBS CRACKING AND — TELL US ABOUT THAT, THE IMPORTANCE OF THOSE EMPOWERING LEADERS IN DEVELOPING FUTURE LEADERS.>>RIGHT, WELL, I THINK I’VE BEEN EXTREMELY FORTUNATE TO HAVE HAD MANY TERRIFIC ROLE MODELS ALL ALONG MY CAREER AND CERTAINLY STARTING WITH MY FAMILY, AS WELL, AT A VERY YOUNG AGE. THE STORY PETER IS REFERRING TO IS WHEN I HAD JUST GRADUATED FROM BUSINESS SCHOOL, AT THE URGING OF ONE OF MY MENTORS, THE AUTHOR HE STRONGLY SUGGESTED THAT I MOVE AWAY FROM THE STAFF POSITIONS I HAD HELD PRIOR TO BUSINESS SCHOOL AND GET A REAL LINE JOB SO THAT I COULD BE A GENERAL MANAGER ONE DAY. AT THE TIME, TOO, AS MANY LEADERS HAVE THE ISSUES TODAY, WE HAD THE DUAL CAREER ISSUE IN THERE AS WELL, SO WE REALLY WANTED TO STAY IN BOSTON WHERE MY HUSBAND WAS GETTING STARTED IN A NEW CAREER PATH FOR HIM. SO I TOOK A JOB WITH ONE OF OUR SMALLER, LESS MAINSTREAM DIVISIONS. WHEN YOU’RE COMING OUT OF BUSINESS SCHOOL AND YOU HAVE YOUR FRIENDS WHO HAVE HAVE GONE INTO INVESTMENT BANKING AND THEY CALL YOU AND SAY, MARTHA, I FLU ON THE CONCORDE TO LONDON TODAY, WHAT DID YOU DO? I FLEW COACH CLASS TO A PLANT IN TEXAS THAT’S MANUFACTURING THE CATHETERS THAT I’M IN CHARGE OF. AND THE CATHETERS AT THE TIME WERE SELLING FOR $8, SO TAKE THE I WAS ESSENTIALLY IN CHARGE OF $8 BLUE TUBES. BUT I WAS TRYING TO HAVE FAITH IN THE FACT THAT BILL AND OTHERS WERE SUGGESTING THAT I REALLY NEEDED TO GET IN THERE AND ROLL UP MY SLEEVES AND LEARN HOW TO DEAL WITH THESE VARIOUS ISSUES. IT TURNS OUT VERY QUICKLY AFTER GETTING INTO THIS JOB, WE RAN INTO A QUALITY PROBLEM WITH THE PRODUCT, AND I HAD HAD — SO, ANYWAY, THE UPSHOT WAS WE DECIDED — WENT THROUGH ALL THE ANALYSIS THAT WE DO WHEN THESE KIND OF THINGS HAPPEN AND IN THE END, OF COURSE, DECIDED THAT ALTHOUGH IT WAS SORT OF BORDERLINE, WHETHER WE COULD CONTINUE SHIPPING OR NOT, IT WAS ONE OF THOSE DECISIONS WHERE I THOUGHT, IF SOMEONE IN MY FAMILY IS GOING TO NEED THIS CATHETER NEXT WEEK, I DON’T WANT THIS ONE GOING IN THEM. SO WE DIDN’T SHIP ANYTHING AT ALL AND I WAS VERY NERVOUS GOING IN TO MY BOSS TO TELL HER THAT, YOU KNOW, I’VE HAD TO MAKE A DECISION THAT WE’RE NOT GOING TO SELL THIS BATCH OF CATHETERS, IT’S GOING TO MEAN A CERTAIN FINANCIAL LOSS AND SHE SAID TO ME, THAT’S THE RIGHT DECISION. SHE SAID YOU’LL FACE MANY DECISIONS LIKE THIS. I’VE PUT YOU IN A STRETCH JOB HERE. WE KNOW YOU DON’T HAVE THE PRECISE BACKGROUND TO DO THIS BUT WE’RE TAKING A RISK ON YOU AND SHE SAID, YOU WILL FEEL LIKE FROM TIME TO TIME YOU’RE OUT THERE ON A BRANCH, TOWARD THE ENDS OF THE BRANCH AND THE WIND WILL BLOW AND YOU’LL FEEL LIKE IT’S ABOUT TO BREAK AND SHE SAID, WHEN THAT HAPPENS, I WILL BE THERE TO CATCH YOU, AND IT WAS A DAY JUST LIKE THAT WHEN I CAME TO HER AND SAID, NANCY, WE’RE GOING TO LOSE A LOT OF MONEY HERE BUT I THINK IT’S THE RIGHT THING TO DO, AND SHE SAID IT’S ABSOLUTELY THE RIGHT THING TO DO. SO CERTAINLY FOR ME WHEN I EVOLVED INTO MANAGING PEOPLE, I ALWAYS THINK OF THAT AND TRY VERY HARD TO LET PEOPLE GO OUT AND GAIN THESE EXPERIENCES FOR THEMSELVES, BUT ALSO BE THERE TO COACH AND ADVISE AT THE APPROPRIATE MOMENT SO THEY DON’T FEEL TOO STRETCHED.>>ONE OF THE THINGS YOU SAID IN THIS STORY THAT’S VERY INTERESTING TO ME IS THAT THE WAY IN WHICH YOU THOUGHT OF YOUR WORK, YOUR PRODUCT IN THIS CASE IN TERMS OF YOUR OWN FAMILY, AND THE CONNECTION WHERE IT’S KIND OF LIKE WHAT MIKE WAS SAYING, YOU DON’T WANT TO HAVE TWO SETS OF VALUES, KIND OF ONLY ONE. HAS THAT BEEN TRUE FOR YOU IN YOUR CAREER AND VERY IMPORTANT?>>VERY MUCH SO. AND IN FACT, FOR ME, WHEN I ACTUALLY HAD WORKED FOR MEDTRONIC PRIOR TO GOING OFF TO HARVARD BUSINESS SCHOOL AND MEDTRONIC WAS VERY GENEROUS AND ACTUALLY, I WAS A GUINEA PIG, IF YOU WILL, A BIT OF AN EXPERIMENT FOR A PROGRAM CALLED THE MEDTRONIC SCHOLAR WHERE THEY SPONSORED ME TO GO BACK TO BUSINESS SCHOOL, BUT BEING 20-SOME AND FAIRLY SELF-CONFIDENT AT THE TIME, I SAID TO MYSELF, WELL, I DON’T THINK I WANT TO GO TO A BUSINESS SCHOOL LIKE HARVARD AND NOT HAVE CHOICES WHEN I GRADUATE. SO I WASN’T QUITE READY TO RECOMMIT TO COMING BACK TO MEDTRONIC BUT I HAVE TO SAY, THEN, WHEN I LOOKED AT OTHER OPPORTUNITIES COMING OUT OF BUSINESS SCHOOL, I REALLY DID COME BACK TO THE FACT THAT THE VALUE SYSTEM AT THE COMPANY WAS SO TOTALLY ALIGNED WITH MY PERSONAL VALUE SYSTEM, THAT I REALLY FELT LIKE I COULD BE MYSELF AT THIS COMPANY, FILE LIKE THE VALUES WERE VERY WELL ALIGNED, HAVE NEVER BEEN ASKED IN 15 YEARS SINCE THEN TO EVER COMPROMISE MY VALUES. SO, FOR ME, IT’S BEEN JUST A WONDERFUL FIT FROM THE PERSONAL STAND POINT IN THE VALUE SYSTEM.>>SO EMPOWERMENT FOR YOU IS BOTH THE BOSS THAT’S THERE TO CATCH YOU.>>RIGHT.>>AND THOSE VALUES THAT SURROUND YOU AND THAT YOU ALSO LIVE OUT EVERY DAY. NOW, SPEAKING ABOUT BEING OUT AT THE END OF LIMBS, MANNY VILLAFANA DOES THIS AS HIS LIFE. HE’S A SERIAL ENTREPRENEUR, ALWAYS OUT ON THE EDGE, ALWAYS TRYING SOMETHING AND SOME OF THEM WORK AND SOME OF THEM WORK LESS WELL AND SOME OF THEM DON’T WORK, AND — I JUST GOT TO ASK YOU, MANNY, I DON’T GET THIS. I WOULD BE SO SCARED. HOW DO YOU MANAGE THE FEAR OF DOING WHAT YOU THINK IS THE RIGHT THING TO DO?>>YOU BOY A LOT OF TOILET PAPER. [ Laughter ]>>THERE ARE A LOT OF DAYS WHEN YOU’RE QUESTIONING — WHEN YOU’RE QUESTIONING YOURSELF. I THINK THAT IT’S IRONIC THAT I’M SITTING HERE AND EXACTLY 40 YEARS AGO THIS WEEK, BILL’S OLD BOSS, EARL BACK CEN, WITH ONE OF THE VICE PRESIDENTS, CHARLIE CUDAHY, FLEW OUT TO NEW YORK AND ASKED ME TO JOIN MEDTRONIC AND A LOT OF PEOPLE SAID TO ME, WELL, DID YOU HAVE A NEGOTIATION, DID YOU NEGOTIATE A CONTRACT OR NOTHING LIKE THAT, SALARY, ANYTHING LIKE THAT? I SAID, NO. IN FACT, I DIDN’T EVEN KNOW WHAT THEY WERE GOING TO PAY ME. AND SOMEONE SAID, HOW’S THAT, MANNY? I SAID, LOOK, I WAS BORN AND RAISED IN THE SOUTH BRONX AND I HAD A CHANCE TO GET OUT OF THE SOUTH BRONX. AIN’T NO WAY I WAS GOING TO LOOK THAT GIFT HORSE IN THE MOUTH. [ Laughter ]>>BUT YOU GO OUT ON LIMBS. I MEAN, I’M THE KIND OF PERSON THAT I BELIEVE IN DOING THE THINGS THAT PEOPLE SAY CAN’T BE DONE. THAT’S MY DRIVE, MY JOY. I LOOK AT THEM ALL THE TIME. AND I BELIEVE THAT ONE CAN DO ‘EM IF THEY BELIEVE THEY HAVE THE STRENGTH WITHIN THEM. I’VE GIVEN TALKS ABOUT ENTREPRENEURSHIP OVER THE YEARS AT VARIOUS UNIVERSITIES, INCLUDING HARVARD, AND I ALWAYS SAY TO — I ALWAYS GET A LAUGH FROM THE AUDIENCE WHEN I SAY WILL EVERYBODY HERE PLEASE OPEN THEIR SHIRTS AND IF IT’S THE WOMEN, YOUR BLOUSE, AND TAKE A LOOK AND SEE IF YOU HAVE A LITTLE RED “S” THERE BECAUSE YOU GOT TO HAVE A RED “S” YOU HAVE TO HAVE BELIEF IN YOURSELF IF YOU’RE BETTER THAN THE AVERAGE JOE OR JANE TO PURSUE SOME OF THESE THINGS, BUT BAUS IF YOU DON’T, BEFORE YOU DECIDE THAT YOU WANT TO BE AN ENTREPRENEUR AND HAVE THE, YOU KNOW, THE BELIEF THAT YOU’RE GOING TO HIT THE MOON AND THINGS LIKE THAT, YOU BETTER HAVE THOSE BELIEFS. NOW, IN MY CASE, I GREW UP IN THE SOUTH BRONX, I’M A CHILD OF A PUERTO RECAN PARENTS, 100% PUERTO RECAN, I DIDN’T HAVE THE “N QUD WORD WHEN I GREW UP, I HAD THE Q S” WORD. AND I FORTUNATELY GOT INVOLVED WITH THE BOYS AND GIRLS CLUB OF AMERICA. THE CLUB GAVE ME THE STRENGTH AND GUIDANCE TO STAY STRAIGHT. MANY OF YOU MAY HAVE SEEN THE AD THAT USED TO BE ON TELEVISION A FEW YEARS AGO, WHERE THEY SHOWED A LITTLE BOY RUNNING THROUGH THE BACKYARD AND CLIMBING OVER A FENCE AND RUNNING DOWN THE STREET AND WHAT HE WAS DOING WAS RUNNING AWAY FROM DRUGS. WELL, I HONESTLY USED TO DO THAT. I USED TO GO DOWN MY — THE APARTMENT WHERE I LIVED, WENT THROUGH THE BACK, GO THROUGH THE BACK ALLEYS, CRAWL OVER SOME FENCES, WENT DOWN TO THE SUBWAY, WHERE I COULD GO TO THE BOYS’ CLUB, AND THEY GAVE ME THE GUIDANCE. THEN WHEN I HAD THE OPPORTUNITY LATER ON TO LEARN SOME TECHNOLOGY, I WASN’T ABLE TO GO TO COLLEGE. THAT WAS BEFORE THERE WAS STUDENT AIDS AND THINGS LIKE THAT AND MY FATHER HAD DIED WHEN I WAS TEN YEARS OLD, AND IT WAS SCREWS MOM AND I AND MY BROTHERS WERE ALREADY GONE FROM HOME, AND — BUT, YOU KNOW, I HAD THE ABILITY TO READ AND I WAS A SPONGE. IN SCHOOL, I DID EXTREMELY WELL BECAUSE I HAD A MEMORY THAT I DIDN’T FORGET ANYTHING. SO I HAD THE ABILITY TO LEARN THE TECHNOLOGY AND THEN ONE DAY, 40 YEARS ACT, MEDTRONIC HIRED ME TO BE IN SALES AND I WAS THE FIRST INTERNATIONAL EMPLOYEE OF THE COMPANY. I HAD A LITTLE BIT OF SPANISH, THAT LITTLE PUERTO RECAN THAT I WAS BORN WITH HELPED AND I HELPED ESTABLISH THE FIRST OUTPOST OF MEDTRONIC IN LATIN AMERICA. SET UP THE PLANT AND I — ONE THING THAT I ALWAYS REMEMBER WAS ONE DAY I GOT A CALL FROM MY BOSS, CHARLIE CUDAHY, HE SAID, MANNY, I I WANTS YOU TO COME BACK TO MINNEAPOLIS FOR A SPECIAL MEETING. SO I COME DUP — IT’S A LONG RIDE, YOU KNOW. WHERE I WAS IN SOUTH AMERICA, BUENOS AIRES IS FARTHER THAN TOKYO TO MINNEAPOLIS. SO IT WAS A LONG RIDE. I GOT THERE AND I SAID WHAT’S UP, CHARLES LIE. HE SAYS, I BROUGHT IN ALL OF OUR REPS FROM EUROPE, ALL OF OUR SALES PEOPLE, AND I WANT YOU TO GIVE THEM A TALK ON HOW TO SELL. HE SAYS IT TURNS OUT THAT THE PERCENTAGE OF THE MARKET THAT YOU HAVE IS GREATER THAN ANY OF OUR EUROPEAN COUNTRIES, AND FURTHERMORE, YOU’RE SELLING INTO MARKETS THAT DON’T HAVE ANY MONEY. [ Laughter ]>>LATER ON, OF COURSE, IN LEARNING THE TECHNOLOGY AND LEARNING ABOUT PACE ISMAKERS, IT BECAME EVIDENT THAT THEY HAD TO BE MADE BETTER. NOT THAT MEDTRONIC WAS DOING ANYTHING WRONG, BY ANY MEANS, DON’T GET ME WRONG, BUT THE TECHNOLOGY WAS LIMITED TO MAKING PACE MAKERS THE SIZE OF A HOCKEY PUCK AND WOULD HAVE A LIFETIME OF ABOUT 12 TO 18 MONTHS. THERE HAD TO BE A BETTER WAY. FORTUNATELY, I RAN ACROSS ANOTHER GOOD FRIEND, BILL GRAYPATCH, THE INVENTOR OF THE FIRST PACEMAKER, IN FACT, AND HAD DEVELOPED A NEW POWER SOURCE AND FOR A VARIETY OF REASONS, MEDTRONIC REJECTED THAT POWER SOURCE. I LOOKED AT THAT AND I SAID, BILL, I’LL MAKE YOU A DEAL. HERE’S THE DEAL AND WE DID IT ON A HANDSHAKE. IF I PROMISE NEVER TO MAKE A BATTERY, YOU GOT TO PROMISE YOU’LL NEVER MAKE A PACEMAKER. OKAY? BECAUSE I WAS GOING TO MAKE A PACEMAKER COMPANY, I COULD COMPETE AGAINST MEDTRONIC BUT I COULDN’T COMPETE AGAINST BILL GRAYPATCH. SO WE SHOOK HANDS. UNTIL THIS DAY, I NEVER MADE A BATTERY, HE’S NEVER MADE A PACEMAKER. . SO WE WENT ON TO MAKE THAT PACEMAKER AND STILL HAVE PACEMAKERS OVER 30 YEARS OLD STILL RUNNING WITH THE ORIGINAL CIRCUIT, THE ORIGINAL POWER, ET CETERA. MY MOTHER’S PACEMAKER, MY MOTHER ENDED UP GETTING ONE OF MY PACEMAKERS AND IT’S STILL RUNNING AFTER 31 YEARS. THE ORIGINAL PACEMAKER THAT I MADE WITH MY OWN HANDS, SODS DEERING, WELDING, THE WHOLE THING, IS STILL RUNNING AFTER 35 YEARS, STILL RUNNING. SO WE KNEW THAT WE COULD MAKE THE PACEMAKER AND THAT TECHNOLOGY EXPANDED UNTIL TODAY, 100% OF ALL THE PACEMAKERS OF THE WORLD, THE MEDTRONICS, THE GUIDE ANTS, THE VARIOUS — GUIDANTT S THE OTHER MANUFACTURERS, USE THE SEAM TECHNOLOGY, THE SEAM HER MET PARTICULAR SALE THAT WE DEVELOPED, ET CETERA, AND THAT ALLOWED US TO MAKE PACEMAKERS AND DEFIBRILLATORS SMALLER IN SIZE, LONGER IN LIFE AND THAT WAS OUR FIRST TECHNOLOGY. DURING THAT FAIRKSZ AGAIN, I WAS APPROACHED BY A DOCTOR, VERY GOOD FRIEND, Dr. DMITRI NIKOLOFF, APPROACHED ME AND SAID, MANNY, THERE HAS TO BE A BETTER VALVE. VALVE? I DIDN’T KNOW ABOUT — ONE THING, WHEN YOU WORKED AT MEDTRONIC IS THEY INSTILLED IN YOU A DRIVE AND A BELIEF AND A LOVE FOR YOUR WORK. LEADERS LIKE BILL, LEADERS LIKE EARL THAT REALLY INSTILLED THAT KNEW AND YOU ATE AND SLEPT AND TALKED ABOUT PACEMAKERS. I MEAN, I LIVED IT, OKAY. AT TIMES THE WIVES USED TO BEATS US UP ON THE HEAD BECAUSE, HELLO, REMEMBER ME, YOU KNOW, I’M YOUR WIFE. OKAY, OKAY. BUT THOSE KIND OF THINGS WE HAD TO ENCOUNTER BUT IT WAS THE TRUTH. YOU WERE DRIVEN ALL THE TIME, BUT NOT WITH A WHIP, YOU WERE DRIVEN WITH LOVE OF GETTING THE BEST POSSIBLE PRODUCT TO THAT DOCTOR, AND THERE’S NOTHING MORE THRILLING THAN TO BE IN THE OPERATING ROOM, WATCHING A TEN-YEAR-OLD GIRL, SLIGHTLY BLUE, WHO STRUGGLES WITH LIFE TO JUST LEAD A NORMAL LIFE BUT HER HEART ALWAYS KEPT GOING SLOWER AND SLOWER AND SLOWER, AND THEN YOU PUT IN A PACEMAKER AND WITHIN ONE SECOND, AS SOON AS THAT DOCTOR HOOKS THAT UP, THE HEART WOULD TAKE OFF AND THE HEART WOULD BE BACK TO NORMAL. AND BY THE TIME THE OPERATION WAS FINISHED, THE BLOOD IN THE FACE WAS BACK TO BEING NICE AND PINK AND EVERYTHING AND IT WAS JUST A THRILLING THING. THE MOST THRILLING THING BECAUSE YOU COULD SEE WHAT YOU WERE DOING RIGHT THEN AND THERE. WHEN WE DID THE HEART VALVES, I DIDN’T KNOW ANYTHING ABOUT HEART VALVES BUT I LEARNED THAT HEART VALVES HAD TO BE IMPROVED. SO WE WENT ON TO ESTABLISH A COMPANY CALLED St. JUDE MEDICAL, OKAY, IN WHICH WE DEVELOPED A THAT YOU WAY OF MAKING HEART VALVES THAT WOULD LAST LONGER, THAT WOULD GIVE BETTER FLOW DO I NAM MIX, ET CETERA, AND THAT TOO BECAME A MULTI-BILLION-DOLLAR COMPANY, AS WELL. WE WENT ON TO DO OTHER THINGS, IMPROVING HEART VALVES EVEN FURTHER WITH A.T .S . MEDICAL AND THE LIMBS — SOMETIMES WE FELL OFF THE LIMBS WITH A PROJECT CALLED CABBAGE MEDICAL IN WHICH WE WERE TRYING TO DEVELOP A NEW WAY OF DOING CORONARY SURGERY. WE GAVE IT ALL WE COULD AND UNFORTUNATELY IT DIDN’T WORK OUT BUT IT WASN’T THAT WE DIDN’T TRY. THERE WAS A LOT OF INTEREST IN WHAT WE WERE DOING. TODAY, TODAY DOCTORS WILL COME TO ME, SAY, MANNY, YOU HAVE TO GO BACK TO THAT TECHNOLOGY, YOU’VE GOT TO DO IT BECAUSE IT IS NEEDED. SO THESE ARE THE THINGS THAT DRIVE ME. NOT TO MESSENGER THAT EVERYONE THIS MY FAMILY, MY THREE BROTHERS, MY MOTHER AND MY FATHER, ALL DIED OF HEART DISEASE; OKAY? SO I SAID, HUM, OBVIOUSLY HAVE A TAKEN CARE OF MYSELF, TOO. [ Laughter ]>>A GREAT STORY, MANNY, A GREAT STORY. AND OBVIOUSLY A GREAT RESULT. THE PASSION COMES THROUGH, YOU CAN SEE HOW THAT’S DRIVING AND THE REWARDS THAT COME FROM THAT PASSION ARE HUGELY IMPORTANT. TO WHAT YOU’VE BEEN ABLE TO DO. I WANT ONE MORE TIME TO THANK MARTHA, STEVE, REATHA, DOUG, MANNY, MIKE, ELLEN, FOR NOT FOR SHOWING UP BUT FOR BRINGING THEMSELVES, AND FOR SO POIGNANTLY SHARING THE STORIES THAT I THINK DEMONSTRATE SO WONDERFULLY THAT THE LEADER IS IN ALL OF US, IT’S IN OUR STORY, AND WHAT WE DO WITH THAT STORY IS THE THING THAT REALLY MATTERS, AND THAT IS A DECISION WE GET TO MAKE. AND HERE’S SEVEN WHO HAVE MADE SOME GREAT CHOICES. SO, PLEASE THANK THEM. [ Applause ] CLEAR CLEAR ¶¶ ¶¶>>FUNDING FOR “FINDING THE PASSION TO LEAD” WAS PROVIDED BY TARGET, AND FREDERICKSON AND BYRON, WHERE LAW AND BUSINESS MEET.

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