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February 17, 2009

The Meaning of Profit

Many people fear that the CEOs who took bailout money will continue to get rich while the rest of the country, and the world, go into a financial tailspin.

Hal Taussig believes that CEOs have a responsibility to do more than earn wealth for themselves. He created a successful travel company called Untours. The company has a budget in the millions. But Hal does not keep any of the profits. He donates them to charity.

Hal talks to Dick Gordon about the spontaneous moment that led him to this alternative business lifestyle. The result swims against the tide of the profit motive: Hal actually finds that having an empty bank account is exhilarating.

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