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Fairfax 2010 Proxy Statement


Parsad
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Looks like Greg Taylor got a nice "little" bonus for his service now that he is leaving the CFO position...almost $6M!  I thought Greg had done a great job over the last few years, especially his communication skills during quarterly calls and his depth of knowledge of Fairfax's finances, even as the complexity escalates.  That's the mark of a good CFO!  Cheers!

 

http://www.fairfax.ca/Assets/Downloads/CIRC2010_Fairfax.pdf

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"David Johnston was a member of our Board of Directors and a member of our Governance and Nominating Committee until his retirement from our Board in September 2010, in consequence of his appointment as the Governor General of Canada. In 2010, Mr. Johnston attended 7 Board meetings and 1 Governance and Nominating Committee meeting, which were all of such meetings in the year prior to his retirement from our Board."

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How about that, eh?  The next Governor General of Canada came from the board of an alledged "Ponzi" scheme.  Boy, oh boy, this guy Watsa has the wool pulled over everyone's eyes...except of course Jim Chanos, David Einhorn, Adam Sender, Mark Cuban, Peter Eavis, Herb Greenberg, Fabrice Taylor, Roddy Boyd, John Hempton, Spyro Contagouris and the late John Gwynn. 

 

What was so funny back in the day, was when Jim Cramer said that Peter Eavis had it wrong in an article in the Street.com.  Jim Cramer even knew these guys were wrong!  ;D  Cheers!

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How about that, eh?  The next Governor General of Canada came from the board of an alledged "Ponzi" scheme.  Boy, oh boy, this guy Watsa has the wool pulled over everyone's eyes...except of course Jim Chanos, David Einhorn, Adam Sender, Mark Cuban, Peter Eavis, Herb Greenberg, Fabrice Taylor, Roddy Boyd, John Hempton, Spyro Contagouris and the late John Gwynn. 

 

 

Apparently you can add to that list Whitney Tilson, who said (to someone very close to me): "We all thought Watsa was a crook". 

 

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I purposely left him off, since he did issue a mea culpa and went long.  Nonetheless, he did provide a forum to jackasses like Herb Greenberg and Jim Chanos.  It's why I've never gone to another Value Investing Congress and never will.  Cheers!

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