Solomon Lew Quotes
101 Solomon Lew Quotes (Solly Lew Quotes)
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Good retailers are not defined when times are good.
Solomon Lew
Cycles – good times and bad times – are an inevitable part of retail life. It is our business to manage according to the times.
Solomon Lew
At its core, retail is a very simple proposition – to know your customer and provide the products that they want, at the time they want it, and at a price they are prepared to pay.
Solomon Lew
The best time to buy is when the market is soft.
Solomon Lew
[In November 2008] There is not much rationality in the share market at this time.
Solomon Lew
[In 1983 after purchasing 10 percent of Myer Emporium] This acquisition is a long-term investment and the fulfilment of a lifelong ambition to hold a significant stake in Australia’s premier departmental store organization.
Solomon Lew
I saw my Dad die at 45… He never got to enjoy life and I don’t want to make the same mistake.
Solomon Lew
[On his three Rolls-Royces in 1989] Not for show. You live once and why not enjoy your money?
Solomon Lew
I am a principled man. But if someone crosses us in a deal, I have a long memory!
Solomon Lew
[On not being re-elected to the Coles Myer board in November 2002] It seems that I will not be re-elected largely due to the opposition of people who do not have their own money invested in the company…
Solomon Lew
[In March 2012] A bit of inflation can’t hurt.
Solomon Lew
Why should the government miss out on collecting two and a half billion dollars worth of tax at a minimum…?
Solomon Lew
[In November 2008] No business is immune but some are better placed than others.
Solomon Lew
[In November 2008] We are living through extraordinary times…
Solomon Lew
[In November 2008] In my forty-five years in business, I have never seen anything like the challenging times we confront today.
Solomon Lew
During downturns opportunities arise.
Solomon Lew
[In December 2009] In Australia we have been both lucky – due to our extraordinary endowment of raw materials and China’s continued strong demand through the crisis – and we have also made our own luck.
Solomon Lew
Good retailers are not defined when times are good. In retail the test of a good
retailer is to deliver a credible result in a difficult retail environment.
Solomon Lew
[In November 2010] The reserve bank should be conscious of giving the people a go.
Solomon Lew
The mining boom is something totally separate to the general economy.
Solomon Lew
[On online sales in November 2010] A billion dollars a month, is going offshore. Now that billion dollars a month, is doing nothing for Australia.
Solomon Lew
[On overseas online sales in November 2010] There’s a real fear that this business could grow and it’ll hurt the Australian economy overall. It’s just not retail.
Solomon Lew
There is a massive amount of goods that are coming into Australia, that are not being charged GST and not paying any duty. That is a very unfair disadvantage to the major players in the industry.
Solomon Lew
[In November 2010] We’ve got well in excess of one thousand stores, we are a collector – seven days a week, every minute of the day, of GST on behalf of the government.
Solomon Lew
[On the Australian government and online overseas sales in November 2010] It’s very simple. They have to collect duty and GST at the point of entry.
Solomon Lew
[On listening to former United States President Bill Clinton briefing 60 businessmen, each paying $18,000 a head] It was like history in the making, absolutely inspiring.
Solomon Lew
[In 1995] The Yannon transaction was arranged in 1990 by two former Directors. It was a transaction of a different era for the company. A transaction like Yannon would not be contemplated today. We are committed to dealing with these issues and we are dealing with them as openly, honestly and quickly as possible.
Solomon Lew
[In 2002 on Coles Myer needing more directors with retail experience] That seems perfectly logical. In fact it seems so obvious you’re probably wondering why I am saying it.
Solomon Lew
[In November 2002] While it seems that I will not be re-elected largely due to the opposition of people who do not have their own money invested in the company, please be certain that I will continue to pursue the effort that Coles Myer reaches its full potential and promote reform.
Solomon Lew
We are not in business for the current environment, we are in business for the long term.
Solomon Lew
Probably the best time to buy is when the market is soft. Because then you are not overpaying, you are taking advantage of other people’s possible misfortunes.
Solomon Lew
[In September 2008] We have plenty of cash, we are totally unleveraged, no debt at all… Therefore, you know, $300 million could turn into a billion takeover.
Solomon Lew
[In September 2008 on purchasing the Just Group] We think we paid fair value, we are happy with the business…
Solomon Lew
[In September 2008] You have to remember as well that the Just shareholders, a lot of them came on to the Premier register by accepting Premier shares, and they are now going to reap the benefits going forward.
Solomon Lew
The Just Group are fortunate to have people like the Premier board owning that business today.
Solomon Lew
You have to go with the market.
Solomon Lew
[In November 2008] By cutting the GST by 50 percent and taking it down to 5 percent, you immediately inject money into all industries… The GST cut will accelerate demand and keep employment up.
Solomon Lew
[In November 2008] We are living through extraordinary times as we witness the continuing unfolding of the financial crisis and the consequences for both the equity markets and the real economy.
Solomon Lew
[In April 2007] None of us would ever underestimate the most successful Australian politician of our age, John Howard.
Solomon Lew
I can tell you from my own experience that numbers go up and down. But when they are down they can move up very quickly.
Solomon Lew
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