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waveduke

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waveduke

Re: player1234 post# 237180

Tuesday, 05/20/2014 11:23:13 AM

Tuesday, May 20, 2014 11:23:13 AM

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Player,

take it from Munger:

"This is how Warren Buffett’s famously blunt partner Charlie Munger last weekend characterized the relationship between the board’s pay and CEO pay:

'You start paying directors of corporations two or three hundred thousand dollars a year, it creates a daisy chain of reciprocity where they keep raising the CEO and he keeps recommending more pay for the directors.'"
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