Quotes from Lawrence L. Steinmetz

the price of the equipment we build has been less than the cost.

They can sell at that price—and go broke and you can, too! If you base your price on your competitor's price—and they are going broke—you will, too. Typically, someone among your competition is going broke and usually is cutting prices on the way out. Owen Young, who is credited with having built General Electric, once said, "It's not the crook we fear in modern business; rather it's the honest guy who doesn't know what he is doing.

If anything occurs that causes your price to go down, it's a self-inflicted wound.

Because it often proves difficult to downsize a work force even if people don't have anything to do.