American Voices: Notable Quotes From the Week in Business

By Tom Randall

June 8 (Bloomberg) -- A look back at some of the notable quotes from the week in business:

``After 25 years of being a bull-market manager to all of a sudden become a bear-market manager, although mildly so in terms of higher interest rates over the next three to five years, is sort of a major shift.''

-- Bill Gross, manager of the world's biggest bond fund, Pimco's $103 billion Total Return Fund, who said he is bullish on bond markets for the next six months, and bearish for 2008, 2009 and 2000 as global economies ``keep on keepin' on.''

``We're going through an interest rate reality check.''

-- James Awad, who oversees about $1.3 billion as chairman of Awad Asset Management in New York, after U.S. stocks plunged the most in three months as a jump in bond yields fueled speculation the Federal Reserve will raise interest rates.

Consumers ``don't really see the need to take out their wallets when they are worried about their housing prices, or gas or a number of other economic features.''

-- Eric Beder, an analyst at Brean Murry Carret & Co., as U.S. retailers reported lower sales in May.

``Roger is stronger than a horseradish milkshake.''

-- Fort Worth, Texas, Mayor Mike Moncrief of Roger Staubach, once the highest-rated passer in the National Football League, who's 15-minute speech to 32 NFL team owners helped the Dallas Cowboys become the host team for the 2011 Super Bowl.

``The importance of this is, they're asking to be president of the United States,'' and ``there's a difference between leadership and legislating.''

-- Democratic presidential candidate John Edwards, referring in a debate to the ``quiet'' votes of Barack Obama and Hillary Clinton for a bill to stop funding the war in Iraq, which failed. Obama replied, ``You are about 4 1/2 years late on leadership on this issue.''

``Trying to be all things to all people has proven to be much easier to preach rather than practice.''

-- David Hendler, analyst at CreditSights Inc., referring to Citigroup Inc.'s Chief Executive Officer Charles Prince's ``supermarket model'' that aims to sell customers a wide range of products capitalizing on economies of sale. Hendler, commenting in a report, said Citigroup could be worth as much as $100 billion more broken into four separate companies.

``The slowdown in residential construction now appears likely to remain a drag on economic growth for somewhat longer than previously expected.''

-- Federal Reserve Chairman Ben Bernanke, who said tighter lending standards for mortgages will ``restrain'' housing demand.

``It's very interesting, but I'm skeptical Burkle and the union can compete with Murdoch.''

-- Richard Dorfman, managing director of Richard Alan Inc., an investment firm focusing on media companies, after billionaire Ron Burkle joined an effort to explore alternatives to Rupert Murdoch's $5 billion bid for Dow Jones & Co.

``New Jersey used to apologize for itself. Now it has a kind of in-your-face attitude. `The Sopranos' helped give us that.''

-- Michael Aaron Rockland, a Rutgers professor of American Studies who teaches a class called ``Jerseyana,'' before Sunday's final episode of the most-watched series in the history of cable TV.

``Despite the financial problems, there continue to be good advances made in quality at Ford and at GM.''

-- John Casesa, managing partner of Casesa Strategic Advisors LLC in New York, after Ford Motor Co. won four of the top 10 brands in a benchmark survey of new-vehicle quality that's usually dominated by Toyota Motor Corp.

``Congress is moving on. Increasing efficiency requirements are coming.''

-- Byron Dorgan, a U.S. senator from North Dakota, during a third trip in seven months by General Motors Corp.'s Rick Wagoner, Ford's Alan Mulally and Chrysler's Tom LaSorda, who opposed efforts to change mileage standards.

``It's his bill, it's not our bill.''

-- Democratic Leader Harry Reid of Nevada, of the Senate's proposed overhaul of U.S. immigration law, supported by President Bush. Democrats pulled the bill after failing to get the 60 votes required to end debate and move to a vote.

To contact the reporter on this story: Tom Randall in New York at trandall6@bloomberg.net .

Last Updated: June 8, 2007 15:07 EDT

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