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索科爾需補(bǔ)“誠(chéng)信”課
 作者: Brian Dumaine    時(shí)間: 2011年04月06日    來(lái)源: 財(cái)富中文網(wǎng)
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“如果你不確定一件事情,不妨自問(wèn):‘倘若明日?qǐng)?bào)紙頭版就此刊登一篇文章,這篇文章被我的家人、朋友和同事看到的話,我會(huì)不會(huì)對(duì)我的行為感到十分坦然?’”關(guān)于誠(chéng)信,索科爾曾這樣教育員工。
轉(zhuǎn)貼到: 微信 新浪微博 關(guān)注騰訊微博 人人網(wǎng) 豆瓣

????自從3月30日沃倫?巴菲特宣布大衛(wèi)?索科爾辭職的消息后,華爾街上各種傳言就不絕于耳。有些人說(shuō),索科爾作為伯克希爾哈撒韋公司(Berkshire Hathaway)的高管,曾在伯克希爾哈撒韋收購(gòu)化工巨頭路博潤(rùn)(Lubrizol)之前的幾個(gè)月,個(gè)人購(gòu)入約1,000萬(wàn)美元的路博潤(rùn)股票(并從中獲利300萬(wàn)美元),這可能已涉嫌內(nèi)幕交易或老鼠倉(cāng)。

????其他人認(rèn)為,索科爾買(mǎi)入路博潤(rùn)股票并不違法,不過(guò)這確實(shí)表明這位常被媒體稱(chēng)為巴菲特接班人的高管缺乏正確的判斷力。究竟索科爾是違法,還是只是打了個(gè)擦邊球,將由聯(lián)邦調(diào)查人員決定, 不過(guò)美國(guó)證券交易委員會(huì)(SEC)及行業(yè)監(jiān)管機(jī)構(gòu)是否會(huì)介入調(diào)查還是未知。

????After Warren Buffett announced David Sokol's resignationon March 30, the Wall Street rumor mill got cranking at full speed. Some wags proposed that Sokol, the Berkshire Hathaway executive who bought some $10 million worth of Lubrizol shares in the months leading up to his company's acquisition of the chemicals giant (and made a $3 million profit in the process), might have committed insider trading or front-running.

????Others say his Lubrizol (LZ, Fortune 500) share purchases were not illegal, but certainly displayed poor judgment by the man most often mentioned in the press as Buffett's heir apparent. Whether Sokol broke the law or merely bent it will be up to federal investigators to determine, and that's if the SEC or an industry regulator moves to investigate.

????更有意思的問(wèn)題,或更具戲劇色彩的是,這個(gè)曾自費(fèi)出版書(shū)籍《高興但不滿(mǎn)意》(Pleased But Not Satisfied),將誠(chéng)信列為自己職業(yè)六誡之一的人,行為上卻顯然缺乏正確的判斷力,并最終卷入丑聞。他究竟是個(gè)怎樣的人?

????索科爾在這本曾分發(fā)給員工的書(shū)籍的第30頁(yè)寫(xiě)道:“如果你不確定一件事情,不妨自問(wèn):‘倘若明日本地報(bào)紙頭版就此刊登一篇由一位有見(jiàn)識(shí)的、心思縝密的記者撰寫(xiě)的文章,這篇文章被我的家人、朋友和同事看到的話,我會(huì)不會(huì)對(duì)我的行為感到十分坦然?’”,或者這件事在《紐約時(shí)報(bào)》(The New York Times ) 或《華爾街日?qǐng)?bào)》(Wall Street Journal)上被披露?

????眼下大衛(wèi)?索科爾不愿發(fā)表言論,但去年夏天我在為《財(cái)富》雜志(Fortune)撰寫(xiě)《巴菲特的修復(fù)先生》(Buffett's Mr. Fix-It)時(shí)曾與他有過(guò)很多接觸。我發(fā)現(xiàn)索科爾是一位非常出色的管理人士,在打造企業(yè)方面卓有成效。1991年,索科爾和巴菲特多年的老朋友沃爾特?斯考特一起收購(gòu)了一家年收入2,800萬(wàn)美元的小型地?zé)峁?,之后通過(guò)收購(gòu)和內(nèi)生性增長(zhǎng)將其打造成為MidAmerican,這家發(fā)展壯大后的公用事業(yè)公司去年為伯克希爾哈撒韋公司帶來(lái)了114億美元的收入。

????這樣的成就絕難出自一位意志薄弱者,而索科爾——正如我所見(jiàn),一個(gè)充滿(mǎn)動(dòng)力的高管——曾激怒了很多人。在他接手伯克希爾哈撒韋旗下虧損累累的NetJets公司并實(shí)現(xiàn)扭虧為盈的過(guò)程中,被掃地出門(mén)的一個(gè)管理人士這樣說(shuō):“一旦你在會(huì)議中質(zhì)疑他,他就會(huì)用像要?dú)⑷说难酃饪茨悖阋矔?huì)很快“失寵”?!?/p>

????在我的采訪過(guò)程中,索科爾一直很客氣并耐心地解釋各種事情,但談到誠(chéng)信話題時(shí),他突然就像是變了一個(gè)人。去年當(dāng)我問(wèn)到那項(xiàng)3,200萬(wàn)美元的裁定時(shí)(即判定其公司MidAmerican “蓄意并故意”誤算未來(lái)利潤(rùn),在上世紀(jì)90年代迫使小股東退出菲律賓的一個(gè)水電項(xiàng)目),他看起來(lái)有些心煩意亂,連珠炮似地說(shuō)了一堆理由試圖說(shuō)明這項(xiàng)裁定是錯(cuò)誤的,以及他將如何上訴。但他說(shuō),最讓他傷心的是他曾感覺(jué)就像家人一樣的菲律賓業(yè)務(wù)伙伴缺乏誠(chéng)信。

????因此,如何理解關(guān)于路博潤(rùn)股票的爭(zhēng)議?我認(rèn)為,要是說(shuō)索科爾當(dāng)時(shí)明知自己的行為不正當(dāng)而故意為之,這種可能性很小。他太聰明了,不可能不了解內(nèi)幕交易、老鼠倉(cāng)以及它們意味著什么。他是一個(gè)非常富有的人,并不需要在路博潤(rùn)股票上賺那300萬(wàn)美元。他自視是一個(gè)誠(chéng)信的人——巴菲特文化更是強(qiáng)化了誠(chéng)信信仰。巴菲特曾在致高管的一份備忘錄中這樣寫(xiě)道:“我們可以承受金錢(qián)損失——即便是很多錢(qián)。但我們無(wú)法承受名譽(yù)的損失——即便是點(diǎn)滴的名譽(yù)”。

????這對(duì)于索科爾而言可能也是難以置信的——他會(huì)做違背職業(yè)道德的事情?或許,這是因?yàn)樗麑?duì)于使用個(gè)人賬戶(hù)購(gòu)入1,000萬(wàn)美元股票后再向巴菲特建議收購(gòu)那家公司的后果毫不知情。索科爾日前在CNBC電視頻道露面時(shí)看起來(lái)對(duì)整個(gè)事件感到既詫異又氣憤,他聲稱(chēng)自己沒(méi)有做錯(cuò)任何事,如果一切重來(lái),他還會(huì)購(gòu)買(mǎi)這只股票,但不會(huì)告訴巴菲特這是一項(xiàng)前景不錯(cuò)的收購(gòu)。

????如果情況是這樣,他現(xiàn)在的處境會(huì)好得多,因?yàn)檫@樣的投資故事并無(wú)瑕疵。太多問(wèn)題仍未得到回答。紐約州懷特普萊恩斯Lane, Sash & Larrabee律師事務(wù)所的合伙人兼證券欺詐專(zhuān)家米奇?伯恩斯認(rèn)為,關(guān)注點(diǎn)應(yīng)集中在12月13日索科爾同花旗集團(tuán)(Citigroup)的一次會(huì)面,在那次會(huì)面中索科爾要求花旗的一位銀行家試著安排同路博潤(rùn)首席執(zhí)行官詹姆斯?漢姆布瑞克的會(huì)面,探討這兩家公司之間可能的交易。

????那次會(huì)面后不久,索科爾首次購(gòu)入路博潤(rùn)股票。伯恩斯說(shuō):“在那次會(huì)面中,索科爾收到了路博潤(rùn)可能有興趣被收購(gòu)的積極反饋?在這之前索科爾早已安排伯克希爾哈撒韋公司員工認(rèn)真考慮此項(xiàng)交易?抑或伯克希爾哈撒韋收購(gòu)只是他個(gè)人的模糊想法?在此類(lèi)問(wèn)題得到回答前,我們不知道索科爾是否真的參與了什么非法活動(dòng)?!?/p>

????與此同時(shí),索科爾已轉(zhuǎn)身開(kāi)始將精力投向自己的“小伯克希爾”——他肯定希望遠(yuǎn)離媒體的聚光燈。

????The more interesting question -- and one of perhaps Shakespearean proportions -- is what kind of guy writes a self-published book calledPleased But Not Satisfied that names integrity as one of his six business commandments, but then displays what is inarguably bad judgment and ends up embroiled in a scandal?

????On page 30 of his book, which he hands out to his employees, he writes: "If you are uncertain about an issue it's useful to ask yourself, 'Would I be absolutely comfortable for my action to be disclosed on the front page of my hometown newspaper in an article written by a knowledgeable and thorough reporter, and read by my family, friends and co-workers?'" Or blared, for that matter, in The New York Times or Wall Street Journal?

????David Sokol will not talk on this point, but I did have the opportunity last summer to spend a lot of time with him while reporting the Fortune story: "Buffett's Mr. Fix-It." I found Sokol to be a brilliant executive, a company builder who gets results. With longtime Buffett friend Walter Scott, Sokol had bought a small $28-million-a-year geothermal business in 1991 and through acquisitions and internal growth built it into MidAmerican, the utility powerhouse that last year brought $11.4 billion of Berkshire's revenue.

????You don't get those kinds of results by being a milquetoast, and Sokol -- as driven an executive as I've met -- rubbed a lot of people the wrong way. During his turnaround of Berkshire's NetJets fractional-share business, one executive shown the door commented: "Once you challenged him in a meeting, he'd give you a look to kill, and you'd fall very fast out of his favor."

????Throughout my reporting, I always found Sokol to be civil and patient to explain things, but when the subject of integrity came up, he suddenly seemed to switch gears. When I asked him last year about a $32 million ruling that declared his company MidAmerican had "willfully and intentionally" miscalculated future profits to force out minority stockholders in a hydropower project in the Philippines in the 1990s, he seemed upset and rapidly fired off numerous reasons why the ruling was invalid, and how he'd appeal. But what saddened him most, he said, was the lack of integrity displayed by his business partners in the Philippines, whom he felt had been almost family to him.

????So what to make of the Lubrizol stock controversy? I think it unlikely that Sokol believed he was doing anything wrong. He is too smart not to understand insider trading and front-running and their implications. He is a vastly wealthy man who does not need the $3 million in profits he made on the Lubrizol deal. He sees himself as a man of integrity -- and the Buffett culture reinforced such beliefs. Buffett has written in a memo to his executives: "We can afford to lose money --even a lot of money. But we can't afford to lose reputation -- even a shred of reputation."

????It may have been inconceivable to Sokol that he could do anything that was unethical. Perhaps, therefore, he was blind to the fallout that would ensue from buying $10 million of a stock for his personal account and then recommending to Buffett that Berkshire buy the company. During his appearance on CNBC earlier today, Sokol seemed both surprised and piqued by the whole affair, saying that he had done nothing wrong but if he had it to do over again, he'd buy the stock and not tell Buffett about it as a prospective acquisition.

????And he'd be so much better off if he had, because this story is not going away. Too many unanswered questions have been left hanging. Mitch Berns, a partner and securities fraud specialist at the White Plains law firm of Lane, Sash & Larrabee thinks attention will be focused on the December 13th meeting between Sokol and Lubrizol's banker Citigroup (C, Fortune 500), in which Sokol asked one of the Citi bankers to try to arrange a meeting with Lubrizol CEO James Hambrick to discuss a possible deal between the two companies.

????Shortly after that meeting, Sokol made his first buys of Lubrizol shares. Says Berns: "Did Sokol receive positive feedback in the meeting that Lubrizol might be interested in being acquired? Had Sokol already engaged Berkshire's staff to seriously look at the deal, or was a Berkshire acquisition just a vague notion of his? Until we know the answers to these types of questions, we won't know whether Sokol engaged in any kind of illegal activity."

????In the meantime, Sokol is heading off to start what he calls his own "mini-Berkshire" -- far, he must hope, from the glaring lights of the press.

?




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@關(guān)子臨: 自信也許會(huì)壓倒聰明,演技的好壞也許會(huì)壓倒腦力的強(qiáng)弱,好領(lǐng)導(dǎo)就是循循善誘的人,不獨(dú)裁,而有見(jiàn)地,能讓人心悅誠(chéng)服。    參加討論>>
@DuoDuopa:彼得原理,是美國(guó)學(xué)者勞倫斯彼得在對(duì)組織中人員晉升的相關(guān)現(xiàn)象研究后得出的一個(gè)結(jié)論:在各種組織中,由于習(xí)慣于對(duì)在某個(gè)等級(jí)上稱(chēng)職的人員進(jìn)行晉升提拔,因而雇員總是趨向于晉升到其不稱(chēng)職的地位。    參加討論>>
@Bruce的森林:正念,應(yīng)該可以解釋為專(zhuān)注當(dāng)下的事情,而不去想過(guò)去這件事是怎么做的,這件事將來(lái)會(huì)怎樣。一方面,這種理念可以幫助員工排除雜念,把注意力集中在工作本身,減少壓力,提高創(chuàng)造力。另一方面,這不失為提高員工工作效率的好方法??赡芎笳呤歉鞔驜OSS們更看重的吧。    參加討論>>


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