Warren Buffett Fires CEO After Bermuda Cruise
Billionaire Warren Buffett [pictured] has fired the CEO of Benjamin Moore after he treated himself and his corporate coterie to a trip to Bermuda on the company tab, the NY Post reports.
The 129-year-old paint company had just recorded its first quarterly sales increase since 2007, and the Post reports that CEO Denis Abrams arranged the island getaway to celebrate the achievement.
“But the Bermuda trip — and an island dinner cruise while there aboard a yacht that some in the party believed was owned by singer Jimmy Buffett — proved to be one of the last acts Abrams would take on as CEO,” the Post said.
“The trip riled Benjamin Moore’s rank-and-file, who have weathered layoffs, slashed commissions and frozen salaries over the five years of tough sledding.
“Whether or not because of worker complaints, a half-dozen Berkshire officials descended on Benjamin Moore’s North Jersey headquarters last Tuesday to give Abrams his walking papers — and escort the CEO from the building, sources said.
Reached yesterday, a Benjamin Moore spokeswoman confirmed to the Post that Mr Abrams was ousted and had been replaced by Bob Merritt, a veteran restaurant executive.
Read the full report here.
The Cog needs to take some lessons!!!!
if only Buffet was our ‘premier’…..he’ll havta fire the whole damn bunch and run the government all by himself!
Are the People Lacking Principles reading this?
An excellent example of assigning responsibility and consequences.
Whoa, Warren Buffet don’t play!
Thing is, the GUMMINT don’t answer to y’all. You can’t deliver walking papers! Best you can do is vote in some different people every 5 years or so.
Can someone get Warren’s contact details as we have a job that he can do for us in Bermy!!
Cog and lot must go!!!
Gosh, what would Buffett do if this guy decided to spend $4m on a Beyonce vanity concert, an over-sized fleet of cars for his executives plus private parking spaces for their exclusive use, undocumented credit card expenditures, massive per diems for travel with no accountability or hand out no-bid contracts to his golfing buddies?
Well, we know what the PLP Government would do … absolutely NOTHING.
PLP – betraying Bermuda & Bermudians since 1998.
Cruising for a bruising .He Painted himself into a corner .
Hmmm well the good side to this story to me is this…. i give him “SOME” CREDIT…. shucks man at least he thought to bring them to Bermuda other than going somewhere else…