Busboys & Bogle Heads
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Ralph has a new book out, The Rebellious CEO: 12 Leaders Who Did It Right and in this episode, we profile three of them, Andy Shallal, owner of the restaurant “Busboys and Poets,” John Bogle, founder of the Vanguard Group, and Robert Townsend, iconoclastic CEO of Avis Rent-a-Car and author of the classic business book “Up The Organization!” Mr. Shallal joins us in person while financial advisor and Boglehead, Rick Ferri, talks to us about the late John Bogle and Robert Townsend Jr. explains the origins of his father’s philosophy. Plus, Ralph gives us an update and a call to action on Gaza. Click on the link to order your copy of The Rebellious CEO. Andy Shallal is an activist, artist and social entrepreneur. Mr. Shallal is the founder and proprietor of Busboys and Poets restaurants in the Washington DC area, which feature prominent speakers, poets and authors and provide a venue for social and political activism. He is co-founder of The Peace Cafe, a member of the board of trustees for The Institute for Policy Studies, and a member of the advisory council for the American Museum of Peace. The whole idea of this book The Rebellious CEO is to show that these CEOs reverse the business model. They didn't just have a vision and say, “We're gonna squeeze workers and consumers and environmental indifference to maximize the profits.” No, they started out saying, “We're gonna treat the workers well. We're gonna treat the consumers well. We're gonna confront the environment. We're gonna speak out against injustice.” And they all made money. Every one of them in the book said they always paid attention to profits because without profits they couldn't do all the things they wanted to do. Ralph Nader, author of “The Rebellious CEO” It becomes very personal. And when it's personal, it's hard to separate yourself from the business. So everything that happens in the business, it's not a one -off, it's about me. If the business is treating my employees badly, it means Andy Shallal is treating his people badly. That's a very personal way [of looking at it] and it's a way for I think a lot of these folks that you write about in the book to kind of stay on mission and say, “This is my name. This is my legacy. This is my entire being that is on the line.” Andy Shallal Understanding those dynamics and how race plays out in this country and how people interpret and see race is really a very important part of our training— to make sure that people do not fall into the trap of saying, “I don't see race,” because race sees you. And unless you are proactive in how you deal with people as they walk through the door, you're gonna probably make mistakes. Andy Shallal Rick Ferri has worked for 35 years as a financial adviser and he is the host of the Bogleheads on Investing podcast. Mr. Ferri was a pioneer in low-fee investment advice and portfolio management using ETFs and index funds, he has authored 7 investment books and hundreds of articles published in Forbes, the Wall Street Journal, and several professional journals, and he is the former president of the John C Bogle Center for Financial Literacy. [John Bogle] was very determined. He believed in giving investors a fair shake on Wall Street. He believed that we should get our fair share of market returns. He believed that there was a conflict of interest in the investment industry between the people who owned the investment companies and the investors in those companies—the people who bought the mutual funds. And he said, "You cannot serve two masters." Rick Ferri That's our mission—to build a world of well-informed, capable, and empowered investors. And that's what the Bogle Center and the Bogleheads are all about. Rick Ferri Robert Townsend, Jr. is the son of Robert Townsend, who was president of Avis Rent A Car from 1962 to 1965 and was the author of the best-selling and iconoclastic business manual Up the Organization: How to Stop the Corporation from Stif
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