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You know, how society in general thinks ” If I have MONEY, I could solve……
Yet, Warren Buffett comments “the great problems of society money won’t solve. That is probably the same with your families, too.”
Warren Buffett # 3 By Lee Brower
It was obvious that he is not fond of the traditional board meeting. He said that boards tend to be social organizations. They are ineffective and don’t allow for true objectivity and the only thing that causes corporate change is embarrassment.
His rules for his board members:
- I don’t pay them anything.
- They must have business savvy.
- They must have shareholder orientation.
- They must be shareholders.
- They must be independent.
- He doesn’t pay errors and omissions insurance.
Finally, when asked about the current condition of our society, he stated, “the great problems of society money won’t solve. That is probably the same with your families, too.”
This last comment will always stay with me as it speaks to the truths within the Quadrant Living Experience.