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Mail: June 2002

Readers react to articles from recent issues of Inc magazine. Plus, an update on Tom Danner, savior of software maker Haven Corp.

He went from physical therapist to gym kingpin to pro basketball's madcap impresario. Pat Croce, the subject of Joe Rosenbloom's April cover story, exudes new-agey bombast and heartfelt sincerity, which combine to create a unique leadership style. Croce's vaudevillian mugging plays well, if this month's gushing letters are any indication.

C'mon, Get Happy
"I feel grrrrrreat!" The uncomplicated mantra that expresses Croce's extravagantly positive worldview has the power, apparently, to do big things.

Like Croce, I believe there are many talented individuals in our society and in business who could do revolutionary things if they had a positive attitude. Unfortunately, most of them hold back for fear of being labeled a phony. May those of us with "corny" perspectives own up to our power to influence others. I feel damn proud of my Pollyanna attitude. I am really beginning to understand how rare and powerful it can be.

Paula Zajac, R.N.
Pituitary Center
Cedars-Sinai Medical Center
Los Angeles

I find myself to be a mild version of Pat Croce, often doing crazy things to keep my people on their toes. I haven't seen too many leaders or managers effectively use this style, so I began to think I was going to have to "conform." I now know that I am doing just fine with the "Pat Croce style." "Mr. Happy," as I'm known by my colleagues, will remain as intensely upbeat as ever.

Phillip Hardin
Meteorologist
U.S. Air Force
Anchorage, Alaska

And despite being relentlessly chipper, Croce comes off as just one of the guys.

Do you know why I love Pat Croce? Because he gave me one of my favorite sports memories. After the Sixers won their first playoff game in seven years and the fans were filing out of the arena cheering and screaming, guess who was the loudest? Pat Croce, perched precariously on a railing at the highest level of the lobby and screaming his damn fool head off just like the rest of us. And though he was the owner up on high, you could tell that what he wanted most was to dive into the crowd below and celebrate with us, not without us.

Matt Histand
Associate Editor
Advertising Specialty Institute
Newton, Pa.

The Selling-Your-Company Blues
The discouraging business-for-sale marketplace assessed in Jill Andresky Fraser's " Nothing's Moving" (April) prompted this reader to look for scapegoats: accountants.

Businesses do not sell during times like these because the costs associated with such transactions are quite significant. A combination of brokers' fees and legal due-diligence costs often exceed more than 10% of the total transaction price -- and the percentage is likely to be higher the smaller the business is. Ironically, owners incur many such costs because they follow their accountants' advice. CPAs routinely direct clients to run their businesses with the goal of minimizing tax payments -- justifying their fees by pointing to the tax savings. Since the accountant's objective is to retain the client, not to put the owner in a better position to sell the business, a serious conflict of interest pervades the private-business-transaction market, making it highly inefficient.

Stanley Jay Feldman
Chairman
BizownerHQ.com
Lowell, Mass.

Editor's note: The writer is also an associate professor of finance at Bentley College.

Try to Top Yourself
If you were going to launch a new venture, what would it be? That was the question posed to business pooh-bahs in Thea Singer's March cover story.

As an individual who has worked for cutting-edge start-up companies for most of my career, I was fascinated to read about where some top entrepreneurial minds feel the world is moving. It's those sorts of insights on many topics -- from the social issues we face to the technology that will redefine our world -- that true business leaders must consider.

Brian K. Brady
Principal and CFO
Gates and Co.
Wilmington, Del.

It Doesn't Make Cents
In his March Street Smarts column, " A Failure of Responsibility," Norm Brodsky said that CEOs who believe layoffs will strengthen a company are simply misguided.

Thanks to Norm Brodsky for highlighting one of the fallacies of business. Layoffs are just a temporary fix for long-term strategic errors. Studies have shown that cost reductions from layoffs have typically been accompanied by reduced productivity. Anticipated stock-price gains have been nonexistent or short-lived. Before considering layoffs, executives should be forced by shareholders, as well as stakeholders, to evaluate any cost savings or expected increase in earnings against the total sum of personal and societal costs. Alternative actions -- like reduced hours, job sharing, and other, more creative methods -- may prove to be the best economic solution for the company, its employees, and society.