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While it's impossible to be completely prepared for a downturn of this magnitude, we began priming ourselves for a weakening economy earlier last year. We have implemented strict cost cutting measures across all our operations. We have reduced headcount in individual businesses where appropriate and we've scaled back on capital expenditures. Even in plush times, we have never been a company that tolerates fat. So in times like these, we are better positioned to weather this cycle than our competitors.
--
About News Corp. 6.4 billion quarterly lost in 2008-09

 

Rupert Murdoch

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The Lord took pity on me thousands upon thousands of times, because he saw within me that I was prepared, but that I was ignorant of what to do in view of my situation; because many were trying to prevent this mission. They were talking among themselves behind my back, and saying: 'Why is this fellow throwing himself into danger among enemies who know not God?' Not from malice, but having no liking for it; likewise, as I myself can testify, they perceived my rusticity. And I was not quick to recognize the grace that was then in me; I now know that I should have done so earlier.

 

Saint Patrick

 

I think in America from time to time we have to go through some difficult times — and I think we're going through those difficult economic times for a purpose, to bring us back to those Biblical principles of you know, you don't spend all the money. You work hard for those six years and you put up that seventh year in the warehouse to take you through the hard times. And not spending all of our money. Not asking for Pharaoh to give everything to everybody and to take care of folks because at the end of the day, it's slavery. We become slaves to government.

 

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I think people are great in many different ways. So, I think some justices are great because they have extraordinary wisdom, they have an understanding of how to apply the law in their times … in a way that's completely consistent with … the text of the law and the purposes of the law, and in a way that's completely right for the times in which they live in.

 

Elena Kagan

 

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Kenneth Griffin

 

I have... instituted systematic, voluntary measures of cooperation with the business institutions and with State and municipal authorities to make certain that fundamental businesses of the country shall continue as usual, that wages and therefore consuming power shall not be reduced, and that a special effort shall be made to expand construction work in order to assist in equalizing other deficits in employment... I am convinced that through these measures we have reestablished confidence. Wages should remain stable. A very large degree of industrial unemployment and suffering which would otherwise have occurred has been prevented. Agricultural prices have reflected the returning confidence. The measures taken must be vigorously pursued until normal conditions are restored.

 

Herbert Hoover