Buffett fires Benjamin Moore CEO after Bermuda trip on company tab

[proud2BlibKansan]

Talk about an extended vacation.

Warren Buffett last week quietly fired Denis Abrams, the chief executive officer of Benjamin Moore, after learning that the executive had reportedly used company money to take his corporate team on a vacation to Bermuda to celebrate its first quarterly sales increase since 2007. Buffett’s Berkshire Hathaway Inc. owns the paint company and named Bob Merritt as Abrams’ replacement.

Merritt’s appointment was effective June 6, Eileen McComb, a spokeswoman for the Montvale, N.J.-based company said Friday. She declined to give a reason for Abrams’ departure.

The New York Post reported Thursday that Abrams was fired after arranging the getaway to Bermuda. Buffett agreed in 2000 to buy the paint company for about $1 billion as he expanded Omaha-based Berkshire’s housing-related operations.

Read more here: http://www.kansascity.com/2012/06/15/3660309/buffett-fires-benjamin-moore-ceo.html#storylink=cpy

[TheCowsCameHome]

1. It's kind of a gray area, but

after all, Buffett does own the company, that's certainly in black and white.

[NNN0LHI]

2. Hope he enjoyed the trip to Bermuda ... a lot

[bluedigger]

3. Abrams probably should have just rewarded the appropriate sales managers.

I can see why Buffet was peeved.

[CTyankee]

4. I think that's terrific!

[Zalatix]

5. Let's hope Buffett does that with all companies he owns.

[Wellstone ruled]

6. This is all about the rank and file Peons getting sh*t on while the Excutive Suite takes

all the credit. You want to piss off the Warren,just do this on the company dime. Peons took lay offs and monetary whacks and as soon as things get back to some sense of normal,the big shots slap them selves on the backs. Paybacks are just to sweet.

Thanks Warren.

[malthaussen]

7. First quarterly increase since 2007?

I wonder if Mr Buffett found it appropriate to grant a bonus to the workers? Or just to fire the CEO who granted a bonus to himself and his team?

Half a loaf, I guess.

-- Mal

[Ilsa]

8. This is good news, and other companies

should follow suit in canning executives who squander resources while employees take hit and hit on wages and benefits.

[panader0]

9. I would think that if you are the CEO of Benjamin Moore

you could afford to pay for your own trip to Bermuda.

[Hassin Bin Sober]

11. You don't get to that position in life thinking like that.

[Initech]

10. Fucking thieves - the whole god damn lot of 'em!!!