Bernie Marcus: Bernie Sanders is the enemy of every entrepreneur Bernie Marcus: Bernie Sanders is the enemy of every entrepreneurHome Depot store for years ago, Ascension long gas lines before stores for $ 2000000 can a campy., No money and no bag. Father was an investor that we were unable to use to go to Bernie’s friend, Brooke Fleming it Security, Pacific Bank. So we took the Elsie’s and we got. We got a $ 3 line of credit, all right so stores, and I did that pretty much traffic. It ain’t just left it out and I didn’t scream at him. I just said you just put a knife through my heart and the guy said why, and I said you left it out. He said my ears, adult goodbye, I mean so you would be relentless. What did you five did? They say well used to have such as I say, give me your address I’ll, have it at your house tomorrow or tonight, and I would run out to a competitor, buy it not the price down by 1/3 and then put it back in the store store. Had it at that price is probably the poster child for capitalism. When I heard from here Bernie Sanders talking about this could never happen in their social. I see this, it never happened. I mean it happened in a pretty difficult: economic. 21 words right, so you can do this cuz I got fired.. Never ever ever, people still have to build houses. Did you know that there was something at the time, but it was something else because of where the world was. We were able to get Lisa’s from JCPenney, which was here than on 6th Avenue right at the street. We were able to get leases on four stores in Atlanta, and treasure was one of them in the pool Treasure, Island and part of the deal was we gave we were going to give JCPenney warrants as part of the rent, but 10 % of the company, where I’M at so now they’re two days before the closing I’m calling I’m saying: hey, we got to pay for the warrants with the guys are there loose since we don’t want them keeping you have to understand qualified people on the floor of the store. How do you have an inventory that’s five times when everybody else has, but how did you do that? Okay, but in the beginning you had a lot of empty boxes because they look like is Roebuck was the competitor of that yeah? They did. They did ignore switch revision week after we got shot out. They came back and said you can’t have low prices, High service and wide assortment the still make money that was that they walked away. They didn’t do the deal that was ever Microsoft’s the same way. People didn’t believe they could have owned the company IBM Rite Aid in the government is really working against you in a one of these Kenny – and I were talking about in the car coming up here when we before we went public the public offering single person working Here is going to get stock in the company and author and I limited our salaries. We took no options, we are the only company I know of when we never took an option ever week. I could be as rich as Warren Buffett today, but I would rather have every assistant manager free single one of them. Look. We had a great story today. Right Valerie was the people in the store. We always believed that if this was going to work, we have not only get the right people, we had a motivator Matt after we got them, we had to respect them and you did and we do that and we do – and you do this group that wants Higher taxes – and they include George Soros and Chris use – the Facebook co-founder hosted by there – is some, even though those were descendants of family Empire. To go Disney people, they trust the government more than I do it. I can’t tell you how much money we giving away my Foundation actually just give it away over two billion dollars. I would rather give it away, then some congressmen Give It Away. We’Ve built hospitals, we built the Georgia Aquarium. Would you had to be at? We have cardiac unit stroke units, the Skyjack better with our money than the government to. Why would I want the government to have anything they talk to you? You do as this is what that’s happened to capitalism: capitalism, mostly successful financially done, but I’ve got a different point. I have no trouble paying more taxes, provided it’s used to redeem the futures of the young people today. What the hell am I doing? What’S Bernie doing getting security, we shouldn’t get a check. Make that happen. What is the starting pay for, among other things, college debt and may be free college down the road country that has been born in the past represents about over and over again president. What would you guys do you just bring up one thing about socialized medicine? That is taking care of these veterans. Kids, who fought in Afghanistan and Iraq 20 a day commit suicide 20 every single day. What is Bernie Sanders doing about that his mouth and do something about these kids? The proof of the pudding is 20 a day of committing suicide if it was measles, the CDC I didn’t hear one single candidate talk about it by the way trap. Is it fully supportive of this, and you know, he’s he’s done some things that can fire people that have done the wrong thing at the better ministration is what what medical care is going to be like in the United States. If Bernie Sanders is the president go back to Bernie Sanders for a minute Believe It or Not, Chavez in Venezuela came to power through a democratic process. If the people in America today the falls out, he was a hard hats on. If they want to know what the future holds for them, following Bernie Sanders go to Cuba, go to Venezuela go to Russia, go to Eastern Europe, guess what it doesn’t work at live at work. The average Venezuelan last lost 34 pounds, there’s no food down there and look. They had a lot of riches. To begin with, it was a wealthy asked one of the wealthiest countries in the southern hemisphere. It was sitting on a huge pool of oil, Donald Trump. Why? I have learned after 67 years in the business, don’t get some Morgan the walking to do with the mark of wants to do, I hope to God, for the sake of all of us, Trump’s wrong. On the other hand, I think, when you change the structure of what we are as a nation risky game and I think, there’s a good shot that will have a severe economic downturn if, in fact, the American people go in that direction for all right. Home Depot co-founders Bernie Marcus and Ken Langone on the challenges they faced getting the retailer off the ground to become the success it is today and the potential pitfalls of socialism.
FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is the leading business network on television, topping CNBC in Business Day viewers for the second consecutive year. The network is available in more than 80 million homes in all markets across the United States. Owned by FOX, FBN has bureaus in Chicago, Los Angeles, Washington, D.C. and London.
Subscribe to Fox Business! https://bit.ly/2D9Cdse
Watch more Fox Business Video: https://video.foxbusiness.com
Watch Fox Business Network Live: http://www.foxnewsgo.com/
Watch full episodes of FBN Primetime shows
Lou Dobbs Tonight: https://video.foxbusiness.com/playlist/longform-lou-dobbs-tonight
Trish Regan Primetime: https://video.foxbusiness.com/playlist/longform-trish-regan-primetime
Follow Fox Business on Facebook: https://www.facebook.com/FoxBusiness
Follow Fox Business on Twitter: https://twitter.com/foxbusiness
Follow Fox Business on Instagram: https://www.instagram.com/foxbusiness