

When CEOs Have Warren Buffett In Their Boardroom - jakarta
http://www.businessweek.com/print/magazine/content/10_10/b4169030631058.htm

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jakarta
They don't mention it in the article, but if anyone gets a chance, I would
suggest they read about his activities as a board member for The Washington
Post.

When Buffett joined the board, Katharine Graham had just taken control. Her
husband had recently committed suicide and she had to steer the company at a
time when there were virtually no other females running companies of that size
in America. He taught her everything from reading balance sheets to guiding
the company in good capital allocation practices. Those things helped her get
the assurance she needed to run the company.

The lessons are pretty applicable to business today. Your advisors should be
people who are smarter than you, at least with respect to filling in with
areas you are not too knowledgeable about. Rather than picking yes-men/your
friends who will only reassure and agree with you.

