Rodent Regatta

make you appreciate a CEO like Warren Buffett even more than you might. In the Owner’s Manual for Berkshire Hathaway investors, item #1 says, ”Although our form is corporate, our attitude is partnership. Charlie Munger and I think of our shareholders as owner-partners, and of ourselves as managing partners. (Because of the size of our shareholdings we are also, for better or worse, controlling partners.) We do not view the company itself as the ultimate owner of our business assets but instead view the company as a conduit through which our shareholders own the assets.”
Item 8 says, ”A managerial ”wish list” will not be filled at shareholder expense.”

TYCO MAY HAVE SPENT over $135 million to benefit L. Dennis Kozlowski, the former CEO who resigned in June before being charged with tax evasion. In… [Wall Street Journal]