Sokol Resigns

[gret]

When my wife gets in a crappy mood, she gets on Facebook and starts firing EVERYBODY up. My point is, if Sokol originally told Berkshire that he had already purchased shares, there is absolutely NO ethical lapse, not even an appearance of one. If he didn't tell them originally, there was a lapse. Cheers!

It is fine to have this view, but I believe that one would be ignoring the true spirit of how one should conduct themselves in this situation. He should have sold the stock prior to informing WB about the company and the opportunities that may exist for BH.

Sokol said on CNBC he regrets ever mentioning the company to WB. He pushed the envelope too far and lost his job because of it. Was it worth the $3 million?... I don't think so.

Ethical, legal, or whatever, I doubt many people, who consider themselves ethical, would attempt this maneuver in the future.

 

[Grizz]

G4Dude -

If everything was fine and above board, why isn't he here anymore?

Wake up man.

 

[imacdog]

Why, he's spending more time with his family of course!

 

[CRAWDADDY]

Not according to the BH ethics handbook.

And we know that's the final arbiter of everything.....

Just use BH and ethics in the same sentence and you have a sure formula/recipe for a good joke.

 

[Mike Jenvey]

Maybe "way more" more discussion with Lubrizol than "previously disclosed."

UK story today

 

[ozpilot]

Mike

Hows life at NJE? We've heard you guys are getting buyout offers ..

 

[Mike Jenvey]

oz, life is reasonable for me, many thanks........

Yep, there is a "buy-out" scheme of sorts, recently announced. Not sure of the sensitivity of it at the moment, so please excuse me if I don't roll out full details for the time being.

 

[rajflyboy]

oz, life is reasonable for me, many thanks........

Yep, there is a "buy-out" scheme of sorts, recently announced. Not sure of the sensitivity of it at the moment, so please excuse me if I don't roll out full details for the time being.

Is the DS regime still firmy entrenched over in NJE land?

 

[G4dude]

G4Dude -

If everything was fine and above board, why isn't he here anymore?

Wake up man.

I'm not saying everything is fine and above board, actually. I was just saying that if he HAD told BH that he already owned shares, it would not have been an ethical lapse. I am guessing, like you, that he did not tell them. By the way, any opinions on what kind of job Hansell is gonna do? I'm a little concerned, not being a huge fan of lawyers, especially in management positions.

 

[Grizz]

By the way, any opinions on what kind of job Hansell is gonna do? I'm a little concerned, not being a huge fan of lawyers, especially in management positions.

I'm terrified. That give you any idea?

I've hardly ever met any attorneys that are good at running things. Their education and experience doesn't lend itself to leadership positions and making good decisions.

Think about it - any time you ask a lawyer a question, you get answers couched and protective in nature. That's not the kind of guy you want making decisions in a complex business environment.

 

[brokeflyer]

he's coming after all those super high paid gulfstream pilots that went and joined the union......basterds

 

[gunfyter]

Herb is a lawyer. Just sayin'

 

[OPECJet]

Herb had a vision. Jordie isn't qualified to run a 7/11.

 

[LAZYB]

Herb had a vision. Jordie isn't qualified to run a 7/11.

Yeah but his dad likes him. Maybe nobody else at the law firm though...

 

[Mike Jenvey]

@ raj - I think I will plead the Fifth on that one!

However, yes, we did see the big financial cutbacks a while ago, but the money tap has been opened up a bit more since then.