Ernest Rady Management Lessons

🎥 Jun 06, 2019 📺 UC San Diego Rady School of Management ⏱ 2m 👁 128 views

About Ernest Rady

Ernest Rady, executive chairman of American Assets Trust, has continued his long-standing philanthropic focus on homelessness and education. In November 2024, Rady spoke at an event for the Rady Center, a Salvation Army facility set to break ground in 2025. He expressed admiration for the Salvation Army, stating he knows "no other organization that is so devoted to good" and that he and his wife Evelyn wanted to help the homeless after seeing "people living in tents." He added, "I would love to see the ground broken if I live long enough to see it." The event also featured a testimonial from a program graduate who described becoming unemployed during the pandemic, living in his car, and eventually securing housing through the Salvation Army's STEPS program. Rady has previously made major donations to San Diego institutions, including a $120 million pledge to Rady Children's Hospital in 2014 and a $100 million donation to the Rady School of Management at UC San Diego in 2019. In a 2019 speech at the school, he said he "got more than I gave" and expressed gratitude for how the school added "meaning to our lives." He has also been recognized with an honorary degree from the University of Manitoba and as a 2018 Horatio Alger Award recipient, where he stated, "I always was convinced that you not only take from society you give back to."

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Transcript (3 segments)

Ernest Rady0:00

To set the mood, I'd like to start with some management lessons, a few stories which you may find interesting and hopefully entertaining. I promise. A crow was sitting on a tree doing nothing all day. A small rabbit saw the crow and asked, 'Can I also sit like you and do nothing all day?' The crow answered, 'Sure, why not?' So the rabbit sat on the ground below the crow and rested. All of a sudden, a fox appeared, jumped on the rabbit, and ate it. Management lesson learned, and I want you to pay attention to this: to be sitting and doing nothing, you must be sitting very, very high up.

Lesson number two. A turkey was chatting with a bull. 'I would love to be able to get to the top of that tree,' said the turkey, 'but I haven't got the energy.' 'Well, why don't you nibble on some of my droppings?' replied the bull. 'They're packed with nutrients.' The turkey pecked at a lump of dung and found that it actually gave him enough strength to reach the first branch of the tree. The next day, after eating some more dung, he reached the second branch. Finally, after a fourth night, he was proudly perched at the top of the tree. Soon he was promptly spotted by the farmer, who shot the turkey out of the tree. Management lesson learned: bullshit might get you to the top, but it ain't going to keep you there.

Lesson number three. A little bird was flying south for the winter. It was so cold, the bird froze and fell to the ground in a large field. While it was lying there, a cow came by and dropped some dung on it. As the frozen bird lay in the pile of cow dung, it began to realize how warm it was. The dung was actually thawing him out. He lay there all warm and happy and soon began to sing for joy. A passing cat heard the bird singing and came to investigate. Following the sound, the cat discovered the bird under the pile of cow dung and promptly dug him up and ate him. Management lessons learned: not everyone who shits on you is your enemy. Not everyone who gets you out of shit is your friend. And when you're in deep shit, keep your mouth shut.