Backdating. Pretexting. The excuse is always the same—everyone else was doing it. (Or “Larry Sonsini said it was okay.”) And it’s lame. And Warren Buffett has had enough of it.
The "Sage of Omaha" warns that poor corporate governance cannot be forgiven just because the practice is widespread. "The five most dangerous words in business may be 'everybody else is doing it'," wrote Mr Buffett, who has long been sceptical of stock options as a means of remunerating executives.