Just remember all of you folks being laid off due to "location strategy" and or being required to relocate, that your high N mighty CEO took a $20+ million a year job and wouldn't relocate for it, and the Board didn't make him. Munger and Buffet at the time said it was BS. Real leaders don't ask of others what they aren't willing to do themselves. Anything less is a CHICKEN-SCHITT!
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Yeah. I thought it was total BS that they hire Chuckles and he doesn’t have to move to San Francisco. And it’s not like he’d have to do it on his own dime. It’s pretty common for companies to relocate execs and even help with finding new digs or selling their old house.
And if you look thru the org there are plenty of leaders that are remote.
The play was always to make WF a NY-based bank with SF window dressing only (and Charlotte where all the operational work happens). Buffet wanted WF to become more of a Main Street bank; the Board decided on the opposite direction - to compete on Wall Street
It's a small club and you ain't in it.
This is what happens when people no longer hold individual shares of stock and just hold funds where the voting is u def control of the Vanguards and Blackrocks of the world. No accountability for the CEOs and the huge increases of CEO salaries.
lol @ complaining in the internet about it. Do all you twinkletoes feel better now or do you need a hug and a sippy cup of hot cocoa to make the bad men go away?
OP, I think u meant chicken shart. :)
This is a super good point about Buffett and Munger. I wonder if that was the nail in the coffin for their WF position.
F*cking hypocritical we---e.
FCS