Charlie Munger, vice-chairman of Berkshire Hathaway and CEO of Wesco Financial recently spoke with the Los Angeles Times on the issue of executive compensation. As always, the 83 year old Munger provided colorful commentary. Munger derided compensation consultants, declaring that “I have always said that prostitution would be a step up for these people.”...
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Monthly Archives: January 2007
Munger: Not enough executives have gone to jail
The Other Shoe Drops At BJ’s(BJ)
On November 22, after BJ’s(BJ) CEO Mike Wedge abruptly resigned and the stock jumped, I wrote expressing my concerns: Mr. Wedge’s departure raises troubling questions about the company’s performance. Same store sales have been lackluster of late, but last week’s earnings announcement was ahead of expectations and management expressed optimism regarding Q4. I have...
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