Tidbits & Quotes

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... a hypothetical tale about an employee who asked his boss for permission to hire an assistant. The employee assumed that adding $20,000 to the annual payroll would be inconsequential. But his boss told him the proposal should be evaluated as a $3 million decision, given that an additional person would probably cost at least that amount over his lifetime, factoring in raises, benefits and other expenses (more people, more toilet paper). And unless the company fell on very hard times, the employee added would be unlikely to be dismissed, however marginal his contribution to the business.

Warren Buffett, Chairman of Berkshire Hathaway

From the 2004 Chairman's Letter

Posted Mar 25, 2005 | # | Category: Quotations

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