Tuesday, October 10, 2006

Buffett to tackle unethical practices


This is a good approach. You cannot say it often enough or loudly enough that only ethical behaviour is acceptable and that there are consecuences for taking shortcuts.

No excuses!

Onesimo Alvarez-Moro

See article:
Warren Buffett has ordered top managers at his Berkshire Hathaway group to redouble efforts to crack down on unethical behaviour, warning that practices such as stock options backdating cannot be justified because “everybody else is doing it”.

In a strongly-worded memo dated September 27 and sent to an elite group of Berkshire managers dubbed “The All-Stars”, the veteran investor says “bad behaviour” among the insurance and energy conglomerate’s 200,000-plus employees is “inevitable”.

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