I don't always agree with Warren Buffett, as you may know, but his canning of the CEO of Benjamin Moore Paint for a lavish company-paid vacation for its execs is something I wholeheartedly applaud. The company went into the dumper when the housing industry tanked and the company made necessary layoffs, furloughs, and generally did whatever it took to survive. Recently the company, a wholly-owned subsidiary of Buffett's Berkshire Hathaway, turned in its first profit since 2007. A lot of people no doubt worked very hard to get there. For many companies, shareholders are a minor nuisance for top executives and they get away with all sorts of executive perks and compensation that boggle the mind, often times whether the company is performing well or not. Buffett showed that there are some shareholders out there who still think that shareholder return and overall team compensation is more important than executives doing a Marie Antoinette. My applause, sir.
www.nypost.com/p/news/business/tint_of_scandal_yKBZbWNaIfkRvlzWSXXwuJ
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