Buffett blasts excessive executive pay - Trade deficit, rising money-management fees also a worry

Berkshire Hathaway 2005 Annual Report ^ | 3-5-06

[vrwc0915]

the socialist oracle hypocrite speaks

[jdm]

ping.

[proxy_user]

OK, let me speak as a capitalist.

As a stockholder, I am the owner of the company. The CEO is an employee, and an expense. I don't see why I shouldn't want to hire someone who could do a good job, but is willing to accept a lower salary. That's the capitalist system, shop around and get the best deal.

These guys are not the great geniuses they claim to be. There are many guys makeing $300-500K now who could do just as good a job. If it was up to me, I'd hire one and give him a chance.

[vrwc0915]

I agree with everything you said, I just can't stand buffet and his do as I say and not as I do

[indthkr]

bump

[Doe Eyes]

As a stockholder, I am the owner of the company.

I own many stocks. I have not been asked how much I think the CEO should be paid.

[em2vn]

Give it a break will you. The man knows business inside and out and that is the manner in which he is speaking. He is damn right in what he says about executive pay.

[proxy_user]

You'd sing a different tune if you bought Berkshire Hathaway in 1966.

I'm not surprised those who did have made Buffett a god.

[SauronOfMordor]

Company management packs the boards of directors with buddies of management. The boards then gives management all the money that management wants. Management is now the effective owner of the corporations, and get paid as owners

What's needed is for the mutual-fund managers and other institutionals (who own the bulk of shares now) to exercise greater control over the boards

[vrwc0915]

No I wouldn't money can't buy my morals!

You would sing differently if you ever worked for one of his companies, nepotism, company store galore

[Bosco]

I've been to his restaurant in Key West - "Margaritaville". :)

[soccer_maniac]

wrong Buffet :)

[TXBSAFH]

JP Morgan would never pay any plant manager more then 20 times what the lowest paid person in the plant made.

[jdm]

"You'd sing a different tune if you bought Berkshire Hathaway in 1966."

Or even 15 years ago.

[acsrp38]

Actually Buffet pays himself 100,000 a year. He lives in a middle-class neighborhood, (no big estate with fancy gates-it is actually on a busy street) his kids went to public schools.

I live in the same neighborhood and went to the same schools with his daughter. His sister taught Home-
ec. I live across the street from the home where he grew up

I agree that his politics are left wing wacko but on this you are wrong

[LibLieSlayer]

Two days ago media reports that this loser lost 1.8 BILLION DOLLARS last year. Yep, he is a damn sage!

LLS

[Moonman62]

I like the market argument, but when two CEO's in a row are paid over $80 million just to stop doing damage and leave the company, something is wrong with the market (it happened at EDS).

[norwaypinesavage]

I guess its OK to earn your billions investing, but not working? I don't see Warren giving his earinings back.

[stefan10]

You should start posting such comments after you made your first billion because of your knowledge and your predictions about the financial markets around the world as Mr Buffet did.

I know this guy is not very popular here but beside his political views i would always listen to someone that has the record and the experience of Mr Buffet.