It was no mystery why Richard Loeb and Nathan Leopold had singled me out as a prime prospect for their heinous crime. My grandfather, Julius Rosenwald, was the chairman of the board of Sears, Roebuck and Co. His prominence made me an ideal choice.

If businesses don't know from state to state what the requirements are for taxes, they have to waste a lot of money on accountants and lawyers before deciding to expand their business into the state next door.

Savvy companies are quietly changing up their boards of directors and teams, and this is giving them better collective intelligence, more community admiration, and better financial results.

Back in the 1970s, Kodak tried to give $25m to a black civil rights organisation in Rochester, New York. The company's shareholders rose up in arms: making this politically charged offering wasn't the reason they had entrusted Kodak with their money. The donation was withdrawn.

The traditional story of economists has been to say education explains what the returns are to school. I say, 'Okay, that's fine, but what explains the education? How much is just a matter of my giving you a poor kid versus a rich kid?'