Partnership Not Ownership Quotes

The language of marriage is often a language of ownership, not a language of partnership. We

Up until the end of the 16th century, even global trading outfits like the Levant Company were guilds or partnerships, whose members pooled their resources that none could accomplish in isolation. But then, on the September 24, 1599, in a half-timbered building off Moorgate Fields, not far from where Shakespeare was struggling to complete Hamlet, something momentous happened. A company was founded whose ownership was cut up into tiny pieces to be bought and sold freely and anonymously, like pieces of silver. Once could own a piece of the company without being involved of it, indeed without even telling anyone. The first global joint-stock company was thus born, undoubtly Tudor England’s most revolutionary invention. Its name? The East India Company.

Having to remind your partner to do something doesn’t take that something off your list. It adds to it. And what’s more, reminding is often unfairly characterized as nagging. (Almost every man interviewed in connection with this project said nagging is what they hate most about being married, but they also admit that they wait for their wives to tell them what to do at home.) It’s not a partnership if only one of you is running the show, which means making the important distinction between delegating tasks and handing off ownership of a task. Ownership belongs to the person who first off remembers to plan, then plans, and then follows through on every aspect of executing the plan and completing the task without reminders. A survey conducted by Bright Horizons—an on-site corporate childcare provider—found that 86 percent of working mothers say they handle the majority of family and household responsibilities, “not just making appointments, but also driving to them and mentally calendaring who needs to be where, and when.” In order to save us from big-time burnout, we need our partners to be more than helpers who carry out instructions that we’ve taken time and energy to think through (and then who blame us when things fall through the cracks). We need our partners to take the lead by consistently picking up a task, or “card”—week after week—and completely taking it off our mental to-do list by doing every aspect of what the card requires. Otherwise we still worry about whether the task is being done as we would do it, or done fully, or done at all—which leaves us still shouldering the mental and emotional load for the “help” or the “favor” we had to ask for. But how do we get our partners to take that initiative and own every aspect of a household or childcare responsibility without being (nudge, nudge) told what to do? Or, to simply figure it out?

Even the language we use illustrates this. The language of marriage is often a language of ownership, not a language of partnership.

Shared ownership is not a universal panacea. Some employee-owned concerns work badly; many public or privately-owned companies work well. But the co-operative approach is not the cranky ideal that some boardroom “realists” like to make it out to be. It works. Few British retail companies have weathered the latest economic downturn so robustly as John Lewis. No wonder all three main political parties have talked recently about using “John Lewis style partnerships” to run key public services. In an age when capitalism is in danger of becoming as discredited as communism, the ideals of co-operatism have more to offer than many people assume.

To start with the Altair needed a language out of which to create programs. Gates and Allen called the small Albuquerque, New Mexico, company that made the Altair and promised to supply a language. They chose Basic, originally designed in the 1960s for the sorts of minicomputers made by Digital. Basic (Beginners All-purpose Symbolic Instruction Code) was ideal for short programs and easier to learn than Fortran because its instructions were simpler. The language caught on widely, and its authors, two Dartmouth College professors, asserted no ownership rights over the program, allowing anyone to use or modify it free of charge. Within six weeks, Gates and Allen had written a version of Basic for the Altair and formed a partnership called Microsoft to peddle the program. Allen flew to New Mexico to strike a deal. Soon Microsoft’s Basic sold so well, even at its five-hundred-dollar price, that Gates left Harvard. He never returned. The

It is also the Greek term for joint ownership or partnership in some venture.49 Stephen Smalley puts it this way: "Christian fellowship is not the sentimental and superficial attachment of a random collection of individuals, but the profoundly mutual relationship of those who remain `in Christ' and therefore belong to each other.

The price is high. God does not want partnership with us, but ownership of us.

Corporate Income Taxation Taxation of corporate net income imposes a “double” tax on the owners of corporations: once on the official “corporate” income and once on the remaining distributed net income of the owners themselves. The extra tax cannot be shifted forward onto the consumer. Since it is levied on net income itself, it can hardly be shifted backward. It has the effect of penalizing corporate income as opposed to income from other market forms (single ownership, partnerships, etc.), thereby penalizing efficient forms of enterprise and encouraging the inefficient. Resources shift from the former to the latter until the expected rate of net return is equalized throughout the economy—at a lower level than originally. Since interest return is forcibly lower than before, the tax penalizes savings and investment as well as an efficient market form.

It is easy to say—but women can just say no to all this. But the reality is more difficult, more complex. We are all social beings. We internalize ideas from our socialization. Even the language we use illustrates this. The language of marriage is often a language of ownership, not a language of partnership.

To fill this gap in the capital market, Davis and Rock set themselves up as a limited partnership, the same legal structure that had been used by a short-lived rival called Draper, Gaither & Anderson.[18] Rather than identifying startups and then seeking out corporate investors, they began by raising a fund that would render corporate investors unnecessary. As the two active, or “general,” partners, Davis and Rock each seeded the fund with $100,000 of their own capital. Then, ignoring the easy loans to be had from the fashionable SBIC structure, they raised just under $3.2 million from some thirty “limited” partners—rich individuals who served as passive investors.[19] The beauty of this size and structure was that the Davis & Rock partnership now had a war chest seven and a half times larger than an SBIC, and with it the ammunition to supply companies with enough capital to grow aggressively. At the same time, by keeping the number of passive investors under the legal threshold of one hundred, the partnership flew under the regulatory radar, avoiding the restrictions that ensnared the SBICs and Doriot’s ARD.[20] Sidestepping yet another weakness to be found in their competitors, Davis and Rock promised at the outset to liquidate their fund after seven years. The general partners had their own money in the fund, and thus a healthy incentive to invest with caution. At the same time, they could deploy the outside partners’ capital for a limited time only. Their caution would be balanced with deliberate aggression. Indeed, everything about the fund’s design was calculated to support an intelligent but forceful growth mentality. Unlike the SBICs, Davis & Rock raised money purely in the form of equity, not debt. The equity providers—that is, the outside limited partners—knew not to expect dividends, so Davis and Rock were free to invest in ambitious startups that used every dollar of capital to expand their business.[21] As general partners, Davis and Rock were personally incentivized to prioritize expansion: they took their compensation in the form of a 20 percent share of the fund’s capital appreciation. Meanwhile, Rock was at pains to extend this equity mentality to the employees of his portfolio companies. Having witnessed the effect of employee share ownership on the early culture of Fairchild, he believed in awarding managers, scientists, and salesmen with stock and stock options. In sum, everybody in the Davis & Rock orbit—the limited partners, the general partners, the entrepreneurs, their key employees—was compensated in the form of equity.

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Q. Can I form a multi-member IRA/LLC between my Roth IRA and my Traditional IRA? A. Yes, this is possible. The ownership between the accounts will be set based on dollars invested, and the IRA/LLC will need to file a partnership tax return annually since it will have more than one owner.

In fact, the traditional institution of marriage that we inherited from ancient societies was never designed to provide intimacy, companionship, mutual attraction, or sexual satisfaction. Traditional marriage evolved in agricultural societies as a way to create lifelong partnerships, establish mutually beneficial economic relationships between families, and maximize the stability of land ownership in agricultural society. These goals were achieved by a set of customs that made both men and women socially, economically, and psychologically dependent on each other. And it was these customs—not lasting affection or mutual attraction—that ensured the permanence of marriage.

Every partner must bring resources to the table. If all parties do not bring resources, it is not partnership; it is ownership, and there will be controlling dynamics from the side of the owner. The Western church must begin to intentionally develop patterns where both partners state their purpose for coming together, the vision they would like to accomplish, and the strategy they would like to employ. Then, together they can determine the total resources they need to accomplish the combined objectives of the partnership, and clearly decide who is bringing what to the table.

A renewed gathering of the followers of Jesus must break into the world, and break up the world. The gathering where bread is broken, stories shared, and prayers are offered reminds the local community that they are implicated in a narrative of peace. Such a renewed gathering also breaks up the constant work expected by chrematistic institutions. The gathering in God’s name to proclaim the message of grace, reminding each other that all are invited into partnership with God, and giving thanks for a creation that has enough for all is an act of defiance in the face of chrematistic institutions promoting works righteousness, limited success for only the most devoted apostles, and a philosophy of private ownership and scarcity.

The only private partnership I can talk about authoritatively is the one in which I was a partner from 1992 to 1999, when the firm went public: Goldman Sachs. Partners there owned the equity of the firm. When elected a partner, you were required to make a cash investment into the firm that was large enough to be material to your net worth. Each partner had a percentage ownership of the earnings every year, but the earnings would remain in the firm. A partner’s annual cash compensation amounted only to a small salary and a modest cash return on his or her capital account. A partner was not allowed to withdraw any capital from the firm until retirement, at which time typically 75%–80% of one’s net worth was still in the firm. Even then, a retired (“limited”) partner could only withdraw his or her capital over a three-year period. Finally, and perhaps most importantly, all partners had personal liability for the exposure of the firm, right down to their homes and cars. The focus on risk was intense, and wealth creation was more like a career bonus rather than a series of annual bonuses.

A formal process through which people became partners (or left the partnership) A social network based on mutual trust and financial interdependence2 Opportunities for disagreement and discussion that informed decision making (“dissonance”) Ownership of the firm by its partners Having personal capital at risk

Alliances are difficult precisely because there is no 'boss' in them. They are partnership. And partners are equals, by definition. One cannot give orders to a partner. Hence the secret of a successful alliance is to manage it as a marketing relationship. In the traditional organization in which command and control are based on ownership, managers start out with the question "how do we get our people to accept what we think they should be doing?" In a partnership one considers the other partner as a customer. And the first question is not "what do we want to do," it is, "what are the partners' goals, the partners' objectives, what is value for the partner, how does the partner work and operate?" Once this is understood and accepted, the alliance will work.

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