Jon M. Huntsman - Winners Never Cheat: Even in Difficult Times, New and Expanded Edition

Even In Difficult Times

Jon M. Huntsman

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2009 by Pearson Education, Inc.
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Printed in the United States of America

First Printing October 2008

ISBN 10: 0-13-700903-8
ISBN 13: 978-0-13-700903-9

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Library of Congress Cataloging-in-Publication Data

Huntsman, Jon M.

Winners never cheat : even in difficult times / Jon M. Huntsman.

p. cm.

Rev. ed. of: Winners never cheat : everyday values that we learned as children (but may have forgotten). 2005.

ISBN 0-13-700903-8 (hbk. : alk. paper) 1. Business ethics. 2. Success in businessMoral and ethical aspects. 3. ExecutivesConduct of life. 4. Huntsman, Jon M. 5. BusinessmenUnited StatesBiography. I. Title.

HF5387.H863 2009

174.4dc22

2008041502

TO KAREN,
MY PARTNER AND
BEST FRIEND.

Circumstances may change but your values shouldnt.

Everything we need for todays marketplace we learned as kids.

We know darn well what is right and wrong.

Compete fiercely and fairlybut no cutting in line.

Risk, responsibility, reliabilitythe three Rs of leadership.

Its high time to corral the corporate lawyers.

There are many temptations, but reminders help.

Surround yourself with associates who have the courage to say no.

Revenge is unhealthy and unproductive. Learn to move on.

Treat competitors, colleagues, employees, and customers with respect.

Operate businesses and organizations as if theyre family owned.

Nobody is completely self-made; return the favors and good fortune.

Acceptable values are childs play, not rocket science.

I wish to convey my great appreciation to Jay Shelledy, a professional writer and editor, who challenged and organized my thoughts and helped convert them to the written word, and to Pam Bailey, my dedicated and loyal administrative assistant who eased the hassle with those astounding and generally unknown complexities of writing a book.

I also desire to thank deeply the professionals at Wharton School Publishing: Vice President and Publisher Tim Moore, and Associate Publisher and Director of Marketing Amy Neidlinger, for their initial faith and encouragement that I publish an updated version; and Operations Manager Gina Kanouse for her valuable suggestions on this edition. Thanks also goes to Pearson Education Senior Vice President of Sales and Marketing Logan Campbell, and Marketing Director John Pierce, for their unwavering commitment to and patience with a first-time author; Development Editor Russ Hall, for clear and candid critiques; Managing Editor Kristy Hart, and Copy Editors, Keith Cline and Sarah Kearns, for their swift, quality-enhancing suggestions to and the preparation of my manuscript; and Wharton School administrators, faculty, and students for their longstanding support in this and other endeavors.

I would be especially remiss if I did not acknowledge the contributions of Larry King, whose gracious Introduction set the tone for what follows; of Neil Cavuto, for his kind Afterword and whose own book, More Than Money, provided inspiration; Glenn Beck, for his kind and humbling Foreword; and of trial lawyer extraordinaire, Wayne Reaud, for his humbling Preface. They are more than just successful professionals, highly respected by their peers; they are friends of mine.

I am indebted to my mother and other family membersliving and deceasedfor providing models of kindness and decency, and to my late father-in-law, David Haight, who always believed in me.

My greatest debt, however, is reserved for my spouse, Karen, our 9 children, and 58 grandchildren for providing me with 68 convincing reasons why a person ought to stay the proper course.

J.M.H.

Jon M. Huntsman is chairman and founder of Huntsman Corporation. He started the firm with his brother, Blaine, in 1970. By 2000, it had become the worlds largest privately held chemical company and Americas biggest family-owned and operated business, with more than $12 billion in annual revenues. He took the business public in early 2005. He was a special assistant to the president in the Nixon White House, was the first American to own controlling interest of a business in the former Soviet Union, and is the chairman of the Board of Overseers for Wharton School at the University of Pennsylvania, his alma mater. Mr. Huntsman also has served on the boards of numerous major public corporations and philanthropic organizations, including the U.S. Chamber of Commerce and the American Red Cross. The Business School at Utah State University is named after him, as is the basketball arena at the University of Utah. The Huntsman businesses fund the foundation that is the primary underwriter for the prestigious Huntsman Cancer Institute in Salt Lake City, which he founded. The hospital/research facility has become a leader in the prevention, early diagnosis, genetic legacies, and humane treatment of cancer. He resides with his wife, Karen, in Salt Lake City. His oldest son, Jon Jr., is governor of Utah.

There is a good chance that youve never heard of Jon Huntsman. He shuns the spotlight, doesnt like to talk about himself, and likes it even less when others talk about his good works. If youve ever used a plastic plate, bowl, dish, or Styrofoam take-out food container, you have Jon Huntsman to thank. His company was the first to develop these products, along with the first plastic egg carton, the original Big Mac container, and plastic fork and spoon. The small business he started with his brother in 1970 became the largest privately held chemical company in the world.

Jon Huntsmans true legacy, however, isnt the multi-billion dollar company he built or how he revolutionized how we live with what he created, but his unwavering honor, integrity, and generosity in every aspect of his professional and personal life. In an era of high-priced lawyers and accountants always looking for the latest legal loophole or tactical advantage, Jon Huntsman has done business on a handshake. Deals valued in the hundreds-of-millions of dollars were negotiated and concluded, literally, with nothing more than both parties looking each other in the eye and shaking hands. That is Jon Huntsmans reputation and legacy.