Wednesday, July 05, 2006
Berkshire's 40 Years Wisdom of Life 5: CEO Pay
"Getting fired can produce a particularly bountiful payday for a CEO. Indeed, he can “earn” more in that single day, while cleaning out his desk, than an American worker earns in a lifetime of cleaning toilets. Forget the old maxim about nothing succeeding like success: Today, in the executive suite, the all too-prevalent rule is that nothing succeeds like failure." -- Warren Buffett, Letter To Shareholders, Berkshire Hathaway Inc., 2005
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