The waste is excessive and really unnacceptable - unfortunately it isn't illegal from what I understand of company law. He's able to do it as long as the board and management agrees and considering in this case they're one and the same it's bloody annoying.
I was reading through a letter to the shareholders from Mr Buffet and he mentions that "At Berkshire?s ?World Headquarters? our annual rent is $270,212. Moreover, the home-office investment in furniture, art, Coke dispenser, lunch room, high-tech equipment ? you name it ? totals $301,363. As long as Charlie and I treat your money as if it were our own, Berkshire?s managers are likely to be careful with it as well."
If Berkshire Hathaway's rent is 270k p.a. we're absolutely getting shafted at QMC.
QMN Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
