Warren Buffet Loves Hank Greenberg
Posted: Tue Mar 07, 2006 11:01 amSee this excerpt from Buffet's this year's annual letter to shareholders that people anxiously await every year. His comment is re: CEO compensation. When you read comments like this from one of the richest men in the world, it is easy to see why Buffet has such a following.
[quote:bf6492ca9a]Comp committees should adopt the attitude of Hank Greenberg, the Detroit slugger and a boyhood hero of mine. Hank's son, Steve, at one time was a player's agent. Representing an outfielder in negotiations with a major league club, Steve sounded out his dad about the size of the signing bonus he should ask for. Hank, a true pay-for-performance guy, got straight to the point, "What did he hit last year?" When Steve answered ".246," Hank's comeback was immediate: "Ask for a uniform."[/quote:bf6492ca9a]
I wonder if Buffet has ever seen Greenberg's Strat-O-Matic card. :wink:
[quote:bf6492ca9a]Comp committees should adopt the attitude of Hank Greenberg, the Detroit slugger and a boyhood hero of mine. Hank's son, Steve, at one time was a player's agent. Representing an outfielder in negotiations with a major league club, Steve sounded out his dad about the size of the signing bonus he should ask for. Hank, a true pay-for-performance guy, got straight to the point, "What did he hit last year?" When Steve answered ".246," Hank's comeback was immediate: "Ask for a uniform."[/quote:bf6492ca9a]
I wonder if Buffet has ever seen Greenberg's Strat-O-Matic card. :wink: