Billionaire Warren Buffett, in his annual letter to shareholders, advise companies to create severe penalties for executives who reap trouble for risky investments. The letter was circulated on Saturday (27/2/2010) from Omaha.
Buffett’s company, Berkshire Hathaway Inc., recorded a net income increase of 61 percent because the value of investments and derivatives rose rapidly in 2009. Residential construction business in helping the performance of Berkshire’s performance exceeded the S & P 500 for the first time since 2004.
Buffett to write this letter to many repeat business base that has made the company a giant. However, the letter does not convey how companies should conduct risk management.
Buffett said, CEOs and boards that have hired him to pay a high price if the company they are stuck in trouble because of risky investments. Buffett complained about, not the CEO or director who suffer most because of the failure of the company during the economic crisis, but the shareholders.
“In my view, the board of directors from financial institutions failed in his duty if the CEO can not urge her to bear the full burden of risk controls,” wrote Buffett. “If he was not able to do that, he must find a new job,” said Buffett.
Buffett told shareholders, he was responsible for the risk taken by Berkshire. He also has 98 percent of his net worth is associated with Berkshire shares that he would personally shocked if the company hit problems.
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The impact of the free market agreements of ASEAN-China Free Trade Agreement (ACFTA) have really felt the cell phone industry (mobile phone). Since the ASEAN countries and China import duty free mobile phones, which entered the electronic media, on January 1, 2010, China mobile phone market grew fast menggerojok Indonesia.
This is evident from blow up application and granting of certification from China’s telecommunication device for the Ministry of Communication and Information (Kemkominfo). Head of Information and Public Relations Center Kemkominfo Gatot S Dewa Broto admitted, post-application ACFTA, request for certification of telecommunication devices increasingly blowing China. “There’s a lot,” said Billy to Cash, Wednesday (24/2/2010).
Kemkominfo noted, since January 1, 2010 until yesterday had risen a total of 283 permits. Of that amount, of which 185 permits for telecommunication devices come from China. Well, from the 185 permits it, 99 certification is the certification of the device (handset) mobile phones. Read the rest of this entry »
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Ministry of Finance released levy duty on the import of goods and telecommunications equipment manufacture materials for fiscal year 2010. Way, the government bear all duties fees for these items.
Thus the contents of Regulation of the Minister of Finance (PMK) No. 54 / PMK.011/2010 of import duty on the Government Covered Goods and Materials Import for Telecommunication Equipment Development for Fiscal Year 2010. The guidelines were published Ministry of Finance in Jakarta, Monday (15/3/2010). This provision came into force since February 24, 2010 until December 31, 2010.
Value dimaksudkn fiscal facilities to improve the competitiveness of the telecommunications equipment manufacturing industry in this country reached USD 38.771 billion. However, the names of companies that will get this facility must be determined by the Director General of Transport Equipment and Telematics as Budget User Authority.
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