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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (625348)8/21/2011 1:52:57 PM
From: Jim McMannis  Read Replies (2) of 1573305
 
I remember when Buffet used to pay himself only about $100k/year. Token. Trust me, if he pays himself more now a days it's to his tax advantage. I bet he won't cough up his return. Wanna bet?

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Seems I was right.............still doing it.
Wheres the apology AL?

Buffett Retains $100,000 Salary After Faulting Pay Excesses

bloomberg.com
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Berkshire Hathaway Inc chairman and CEO Warren Buffett

Andrew Harrer/Bloomberg

Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc.

Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc. Photographer: Andrew Harrer/Bloomberg

Warren Buffett, the billionaire chief executive officer of Berkshire Hathaway Inc. (BRK/A), was paid a $100,000 salary for a 30th straight year after warning that excessive executive compensation can hurt shareholders.

Buffett, 80, received no bonus in 2010 and he doesn’t get stock options or grants, the Omaha, Nebraska-based firm said today in a filing. Buffett’s personal and home-security services paid for by Berkshire cost $349,946. The company’s compensation committee has determined salaries since 2004. Buffett, Berkshire’s chairman and largest shareholder, formerly recommended his own salary to the board.

Buffett built Berkshire over four decades of acquisitions and stock picks, bringing the value of his personal stake in the company to about $50 billion, almost all of which he has pledged to charity. He has said executive compensation needs to be more closely tied to a company’s long-term performance, rather than to annual profits that may be wiped out.

“His own frustration with regard to executive pay practices is reflected in not only talking the talk, but he and his organization walk the walk,” said Frank Glassner, CEO of Veritas Executive Compensation Consultants in San Francisco.“He in the past noted he considers himself the ‘Typhoid Mary’of compensation committees, so he very clearly believes in his mantra, that total shareholder return must take place before the executives are paid.”

Berkshire Class A shares rose about 21 percent in 2010 to $120,450 on the New York Stock Exchange. The stock has climbed another 5.7 percent this year to $127,346 as of 2:31 p.m.

Buffett told the Financial Crisis Inquiry Commission in May that top executives must be held responsible for the performance of companies that falter.

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