Warren Buffet Fires CEO
Restored from the Empower Network archive (2011–2017), lightly edited to meet our current advertising standards. Views are the original author’s.
Overture:
Have fun while listening to the tracks chosen as the soundtrack to Today’s
“Empowering Freedom with the Empower Network”
Blogs.
Real people, helping real people….
Hi There, Friends of Freedom:
As is my custom, I was sitting with my morning beverage today
looking through the investment and investor news
getting a handle on what the media might be talking about
that would spook my clients and de-rail them from the plans
we have put together to ensure that:
1. The family is properly protected in the event that they would “die too soon”
2. They are moving out of the “debt cycle” in order to get into the “cash cycle”, and
3. They are on the road to financial freedom, and will never have to worry about “living too long”
The following post
Warren Buffett Fires CEO For Taking Island Vacation On Company’s Dime
found me. Hmmm… I had to learn more.
The Huffington Post wrote
It’s sad to say, but true: Even Warren Buffett fires people.
After Denis Abrams, CEO of Benjamin Moore — a company owned by Buffett’s Berkshire Hathaway — used company money to take his corporate staff on a getaway to Bermuda to celebrate the company’s first quarterly sales increase in years, Buffett fired Abrams, the New York Post reports. The island getaway allegedly included a dinner cruise aboard a yacht that some vacation attendees believed was owned by singer Jimmy Buffett.
Abrams isn’t the first CEO to be fired for an outlandish use of company money. Former Kmart CEO Charles Conway was fired from the retailerThen there’s ex-Lotus CEO Dany Bahar. After he allegedly used company money to refurbish his homes, Bahar was told to take a hike, according to the Washington Post.
For some of Benjamin Moore’s lower-level employees, the level of top-tier extravagance likely annoyed. That’s because some in the company reportedly contended with layoffs and pay freezes as the company faced slow sales in recent years, according to the NYP.
Buffett himself is known both for living a hokey lifestyle well below his means, striking a notable contrast with Abrams’ conspicuous behavior. Buffett has also come to champion causes like raising taxes on the rich. In August of last year, the Berkshire Hathaway CEO penned an op-ed in The New York Times arguing that the super-rich should pay taxes at a rate that’s the same or higher than that of middle class Americans.
…
Warren Buffett Fires CEO For Taking Island Vacation On Company’s Dime
Related Media
1. Warren Buffet Quotes(article)
2. Warren Buffet ACcording To Wikipedia (article)
3. Federal Investigators Probing Kmart’s Finances (article)
4.
(video)
P.S. I AM Peter Pocklington. One of the things that drives me to be so passionate about my mission of teaching Main Street families “How Money Works” and coaching them along their road to financial independence is to help families make appropriate decisions concerning their money and the associated lifestyle it is funding. Warren Buffet (one of the richest men in America) “lives frugally”. Charles Conway gets fired for “outlandish use of Company Money”. There is hope yet…