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(Reuters) - Berkshire Hathaway Inc on Friday said its newest vice chairmen, Greg Abel and Ajit Jain, were each awarded about $18 million last year, in the first detailed look at the pay of the men considered the leading candidates to succeed Warren Buffett as the conglomerate’s chief executive. Abel, 56, and Jain, 67, who became vice chairmen in January 2018, both received $16 million in salary plus $2 million in bonus, according to a U.S. Securities and Exchange Commission filing. Buffett sets compensation for both.
The payouts show Buffett’s willingness to pay Berkshire’s younger leaders in a manner similar to that at other publicly-traded companies, though Berkshire does not grant stock options, custom cufflinks nyc For more than a quarter of a century, Buffett has taken a $100,000 salary at Berkshire, But his 16.5 percent ownership stake in the Omaha, Nebraska-based company forms the bulk of his net worth, estimated at $84.4 billion by Forbes magazine, Abel oversees Berkshire’s non-insurance operations such as the BNSF railroad, aircraft parts maker Precision Castparts, retail businesses such as Fruit of the Loom and Brooks running shoes, and Berkshire Hathaway Energy, where he remains executive chairman and owns 1 percent of the voting stock..
Jain, meanwhile, has long been Berkshire’s top insurance executive, and oversees its businesses in that sector, including auto insurer Geico and reinsurer General Re. In a CNBC interview last month, Buffett said both men were “doing a fabulous job.”. Jain also controls about $123 million of Berkshire stock, including shares owned by his wife and a private charity, while Abel oversees about $2 million, according to Friday’s filing. Buffett, 88, still oversees the bulk of Berkshire’s common stock investments including Apple Inc and Wells Fargo & Co, and with Vice Chairman Charlie Munger, 95, handles major capital allocation decisions.
The filing said Buffett’s total compensation in 2018 was $388,968, including $288,968 for personal and home security, Munger, also a billionaire, received a $100,000 salary, Chief Financial Officer Marc Hamburg was awarded $2.26 million, Buffett’s compensation was about 6.63 times the $58,691 median pay of Berkshire employees, based on a sample of about two-thirds of its roughly 389,000-person workforce, The filing included no shareholder proposals to be voted on at Berkshire’s May 4 annual meeting, Such custom cufflinks nyc proposals normally fail by large margins, Buffett still has 31.4 percent of Berkshire’s voting power..
ADDIS ABABA (Reuters) - Trucks and excavators are going onto the site of the Ethiopian Airlines plane crash, causing concern that vital evidence may be lost or crushed, two diplomatic sources said on Friday. Some policemen have also been taking selfies inside the yellow tape lines demarcating the scene, witnesses said. The crash five days ago killed 157 people, brought a global suspension of Boeing 737 MAX aircraft and left a charred, debris-strewn crater in an Ethiopian field. “The handling of the site is disastrous because they are letting trucks and excavators drive over it,” an Addis Ababa-based diplomat, who has visited the site and is representing some families of victims, told Reuters.
“There are concerns especially about the use of excavators, People are wondering how you can use them for recovery in such a site,” said another diplomatic source in Ethiopia who has visited the site multiple times this week, US aviation officials briefed on the investigations told Reuters they were also concerned about the integrity of the crash scene and whether the debris has been properly custom cufflinks nyc safeguarded, Flight 302 crashed minutes after take-off on Sunday, leaving a hole 10 meters (33 feet) deep, The impact and fire left the plane in small fragments and destroyed the bodies of any passengers, leaving only remains..
Ethiopian Airlines did not respond to requests for comment on the handling of the site, but has assured the world it will investigate as quickly and seriously as possible. Reuters reporters at the scene have seen excavators scooping up dirt, personal effects and bits of metal from the plane. The debris is mostly piled at one side of the field, while rescue workers have bagged and removed what they could find of human remains. Since Sunday, Red Cross workers and investigators have been combing the site, while grieving families have gathered to mourn and villagers have stood beyond the yellow tape watching.
On Monday, Ethiopian police who came to take over guarding the site for the evening walked under the tape and across the site as it was still being cleared, Some took selfies on their mobile phones, according to Reuters witnesses, The airline has sent the black boxes to custom cufflinks nyc Paris where French and U.S, experts have joined an Ethiopian-led investigation, One airline industry source said Ethiopian government authorities had told him there were no current plans to do DNA identification, He also complained that authorities were excavating the crash site without proper procedure..