WARREN BUFFETT Quote : Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
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Tuesday, October 15, 2013

Warren Buffett’s Benjamin Moore In Internal Turmoil

by Vikas ShuklaOctober 14, 2013   

Warren Buffett made Tracy Britt chairwoman of Benjamin Moore after firing Denis Abrams. But installing Britt as the chairperson of Benjamin Moore proved to be a disastrous move.
Warren Buffett’s paint company Benjamin Moore could be getting deeper into trouble. Last month, the company fired CEO Bob Merritt, without disclosing any reason. Last week, Benjamin Moore chairwoman Tracy Britt appointed Michael Searles as the new chief executive. Mr. Searles is the third CEO of Benjamin Moore in less than two years.Sources familiar with the matter told James Covert of The New York Post that Bob Merritt was shown the door after allegedly harassing female employees. Things became trickier because the ousted CEO Bob Merritt is the husband of Jill Dilosa, a close friend of Tracy Britt. Jill Dilosa is a Wall Street investor who appeared on the “Wall Street Warriors” TV series in 2006.Ms. Britt is speculated to succeed Warren Buffett after the wise old man announces retirement. In fact, the Harvard graduate is very close to Buffett and her office is next to the Oracle of Omaha’s. In fact, Buffett walked the blonde down the aisle at her wedding last month, and stood in for her late father. Warren Buffett made Tracy Britt chairwoman of Benjamin Moore after firing Denis Abrams, the former CEO of the paint company who served before Bob Merritt.