warren buffett punching again
the excesses of the american corporate world, which is widely repeated here, is getting another punch from warren buffett. the craziness in the pay to ceos has gone on for too long. it is daylight robbery against the interest of shareholders. ceos are paying themselves ridiculous salaries without producing the results. and the rationale is that other ceos are getting them, so they shall have it too. many public companies would have been profitable or have bigger profits if not because of the ethereal compensation packages paid to ceos. so far, buffett has been the lone voice in the wilderness. no one is going to hear him as everyone is having a party and enjoying it. and there are many companies that made hefty losses of several hundred millions over the years. but all it needs is for one year to make a 20 or 30 million profits and the ceos will be asking for blood, demanding big bonuses and bonus shares and increments. and the meagre profit multiply over 10 years may not even recover the losses incurred earlier. the shareholders must have a bigger voice to check the excesses of corporate ceos. and not be duped repeatedly, and be robbed of the value of their shares.