Monday, March 10, 2003

Saving Capitalism from Itself
We need more people like Warren Buffett (and George Soros, too).
"As stock prices went up, the behavioral norms of managers went down. By the late 1990s, as a result, CEOs who traveled the high road did not encounter heavy traffic."
"Getting rid of mediocre CEOs and eliminating overreaching by the able ones requires action by owners -- big owners," Buffett wrote in his annual letter to shareholders of Berkshire Hathaway Inc, his investment company. "Unfortunately, certain major investing institutions have `glass house' problems in arguing for better governance elsewhere."

(Courtesy Heretical Ideas and Taipei Times)


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