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Buffett Alerts Managers to Temptation of `Accounting Gimmicks'

October 10, 2006

Billionaire investor Warren Buffett told senior managers at Berkshire Hathaway Inc. to resist the temptation to use ``accounting gimmicks'' to manipulate earnings as U.S. regulators broaden their probe into stock options backdating.

Buffett, 76, urged his executives to ensure their actions are legal and would be acceptable if printed on the front page of a newspaper, according to a memorandum dated Sept. 27 and published yesterday on the Web site of the Financial Times.

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By Adrian Cox, Oct. 10 (Bloomberg)

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