Michael O'Rielly Quotes

We've done all the work that needs to be done on the inside to make sure there's no malfeasance inside Chrysler.

I'm a true believer that you have a moral obligation to keep your employees honest, and that is why you have controls, so I'm never tempted or put in a position where I could do something to defraud my employer.

You have more independent eyes scrutinizing the decision-making and financial statements of companies.

We are constantly working towards the highest level of compliance possible.

We measure everything - why not governance?

In any given day, our administration has about 2 million employees, and things happen. We put in process procedures to make sure if there has been any wrongdoing, there will be appropriate consequences, and we will move on.

I think having a visionary CEO is awesome, and visionary leadership is one thing, but you also need checks and balances on whether this company can withstand a very honest and critical look at itself.

It's true that robust governance structures, checks and balances, transparency of markets, directionally leads to... less vulnerability to corruption.

A lot of people think if you just had more process and more compliance -- checks and doublechecks and so forth -- you could create a better result in the world. Well, Berkshire has had practically no process. We had hardly any internal auditing until they forced it on us. We just try to operate in a seamless web of deserved trust and be careful whom we trust.

We followed the law, we follow our policies, we self-report, we identify problems, we fix them. And I think we do a great job, and we do, I think, more to protect people's civil liberties and privacy than they'll ever know.

To be powerful in South America, you have to be transparent and you have to have a very clean reputation. Transparency for me today is a magic word in South America. Power comes from transparency and a track record of execution.

I always assign auditors to strictly supervise the businesses.

Corporate governance should be done more through principles than rules.

I love criticism. Equitable Life went down because management wouldn't brook criticism, but if you are in business, you have to hear what's going wrong.

When I wear the hat of management, it is important that our management behaves and conducts as management accountable to the board.

Managerial discretion can take many forms, some very subtle. Individual managers may run slack operations; they may pursue subgoals that are at variance with corporate purposes; they can engage in self-dealing.

With a good [political] system, even evil men cannot do evil.

Counter-corruption agencies cannot make a difference unless they are independent of the government actors they are supposed to monitor, restrain, and punish.

I'm the CEO; I'm the one who should be looking out for risk.

As a company, we have to be very transparent. We are in a business very related to finance, and I want this company to last long, and I want this company to be audited by everyone.

We follow highest level of corporate governance, which is in line with a global company like ours.

In my capacity as a board member of the OfS, I hope to be impartial, objective, and fair.

The lesson is the importance of never becoming untethered to oversight and accountability.

What we need is congressional action to establish a federal principle of fiduciary duty - encapsulated by the phrase 'no man can serve two masters.'

Our goal is to set the gold standard when it comes to compliance.