Sokol Resigns

[CRAWDADDY]

Seems so silly now to suggest that a pilot who tosses his business card in the glass fishbowl at the FBO for a chance to win a sweatshirt is potentially acting in an unethical manner and has created a conflict of interests...

At least he's left his replacement pretty green from a lack of grooming. How long will he avoid the pilots?

 

[CA1900]

He's been avoiding us since he got here.

 

[glasspilot]

Seems so silly now to suggest that a pilot who tosses his business card in the glass fishbowl at the FBO for a chance to win a sweatshirt is potentially acting in an unethical manner and has created a conflict of interests...

Now that's interesting. Anyone care to elaborate? I'd love to hear the logic behind that...

 

[jtf]

The ethics training and rules at NJA are way beyond what one would reasonably expect. Many are not really very logical at all since as pilots, we have no say on what FBO we go to and little say on how much fuel and other services we get once at the FBO. I guess the company is afraid that since NJA is such a big customer, the FBOs may rig the game for an NJA employee and make NJA look bad if caught. I just can't believe that there are Berkshire Hathaway and NJA people sitting around thinking that far out on possible ethics problems while ignoring Sokol's history of threats, firing lists, and overall poor ethical behavior- especially after major lawsuits have come after him for severely unethical behavior in the past. Now his front running the Lubrizol deal finally was the last straw and my guess is it wasn't so much his choice if he was going to stay.

 

[imacdog]

Now that's interesting. Anyone care to elaborate? I'd love to hear the logic behind that...

The BH ethics guidelines. Get gas at Atlantic and get a few Atlantic bucks? Unethical. Invest ten million into a company, then convince BH to purchase that company and walk away with a three million dollar personal profit? No problem there and WB's got your back (at least in public).

 

[CRAWDADDY]

He's been avoiding us since he got here.

Yes he has. And now he's in charge with very little grooming for the job.

 

[G4dude]

The BH ethics guidelines. Get gas at Atlantic and get a few Atlantic bucks? Unethical. Invest ten million into a company, then convince BH to purchase that company and walk away with a three million dollar personal profit? No problem there and WB's got your back (at least in public).

If Sokol told BH he had purchased those shares when he recommended BH buy them, then he acted ethically. I don't know if he did, but it would be interesting to know.

 

[gret]

If Sokol told BH he had purchased those shares when he recommended BH buy them, then he acted ethically. I don't know if he did, but it would be interesting to know.

..."Jan. 14 or 15: Mr. Sokol mentions a possible Lubrizol deal to Mr. Buffett for the first time, according to Mr. Buffett. Mr. Sokol made a “passing remark” to Mr. Buffett about his stake in Lubrizol, Mr. Buffett said."...

Strongly disagree that it is OK if he mentioned it. He is recommending that BH pursue a company that he has a financial interest in.

The man must have lost his mind...funny that he didn't even personally hand WB his resignation letter...instead he has his assistant do it.

 

[imacdog]

If Sokol told BH he had purchased those shares when he recommended BH buy them, then he acted ethically. I don't know if he did, but it would be interesting to know.

One can disclose all they want but it would still be considered an ethical violation.

 

[gunfyter]

Another article... on the Motley Fool website about this....