Kenneth Fisher

Well, there's no question that the law passed in 1996 was flawed. It deregulated the wholesale market, meaning the price that the utilities had to pay energy companies for power, but not the retail market.

When I started at Bloomingdale's as a buyer, Alexander's was a discounter across the street, and every time Alexander's had something that we had at Bloomingdale's, we'd have to meet price. I didn't really want to be in a business where I had no control over my inventory, the value of my inventory.