Buffett Criticizes Former Executive's Actions

Saturday, 30 Apr 2011 04:44 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

OMAHA, Nebraska (AP) — Warren Buffett believes David Sokol clearly violated Berkshire Hathaway's ethical standards when he bought stock in Lubrizol before recommending that Berkshire buy the chemical company.

Buffett told Berkshire Hathaway shareholders Saturday that he doesn't think he will ever understand why the former Berkshire executive did what he did.

Buffett acknowledges that he made a mistake by not asking Sokol more about his Lubrizol stock when they first discussed the company in January. But Buffett says he didn't have reason to think Sokol had just bought the stock the week before.

Sokol, who resigned earlier in April, denies any wrongdoing.

Buffett says the reason he wasn't harder on Sokol when he announced the former MidAmerican Energy chairman's resignation in March was because he didn't have all the information at that point.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Vikings Bring Back Peterson Despite Child Abuse Charge

Tuesday, 16 Sep 2014 06:57 AM

Adrian Peterson was back at Minnesota Vikings headquarters on Monday, and the first thing fullback Jerome Felton did whe . . .

Rutgers Professor: Guest Workers Are Stealing High-Tech Jobs

Tuesday, 16 Sep 2014 06:51 AM

Will borrowed workers make up the workforce of the future in the United States? One sociologist and professor is suggest . . .

Northern California Wildfire Burns 100 Homes

Monday, 15 Sep 2014 22:38 PM

A fire driven by fierce winds raced through the small town of Weed, Calif., near the Oregon border on Monday, burning a  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved