Erhard maintains that he had a clear business purpose for engaging in the transactions because he desired to terminate his relationship with Margolis... However, even if Erhard had a legitimate business purpose for terminating his relationship with Margolis, that did not give him a business purpose for engaging in the specific transactions at issue here. The fact that he may have had a good business reason for separating from Margolis does not necessarily justify resorting to circular money movements (that just happened to create tax benefits) to effectuate that separation.
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Diarmuid O'Scannlain, Appellate Court Judge, United States Court of Appeals, Ninth Circuit, Werner H. Erhard, Petitioner-Appellant, v. Commissioner Internal Revenue Service, Respondent-Appellee, February 8, 1995. 46 F.3d 1470, 75 A.F.T.R.2d 95-957, 95-1 USTC P 50,074Werner Erhard
» Werner Erhard - all quotes »
In the first place, est-Forum was primarily a business, efficiently directed by its founder and head Werner Erhard for the purpose of making a profit. Indeed, the internal discipline of the organization was so strong that its style of operation has been labeled as fascist.
Werner Erhard
There is only one valid definition of a business purpose: to create a customer.
Peter F. Drucker
There is no business like show business, Irving Berlin once proclaimed, and thirty years ago he may have been right, but not anymore. Nowadays almost every business is like show business, including politics, which has become more like show business than show business is.
Russell Baker
It is a matter of course and of absolute necessity to the conduct of business, that any discretionary businessman must be free to deal or not to deal in any given case; to limit or withhold the equipment under his control, without reservation. Business discretion and business strategy, in fact, has no other means by to work out its aims. So that, in effect, all business sagacity reduces itself in the last analysis to judicious use of sabotage.
Thorstein Veblen
In the field of modern business, so rich in opportunity for the exercise of man's finest and most varied mental faculties and moral qualities, mere money-making cannot be regarded as the legitimate end. Neither can mere growth of bulk or power be admitted as a worthy ambition. Nor can a man nobly mindful of his serious responsibilities to society view business as a game; since with the conduct of business human happiness or misery is inextricably interwoven.
Louis Brandeis
Erhard, Werner
Erikson, Erik
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