It doesn't seem to bother shareholders. Well, institutional shareholders could do something. We look for a great castle and a great knight to protect it. We try to pay fairly. No one wants to be in the lower half, so the median rises.
Compensation committees meet once a year or more often.
I've been on 19 boards besides Berkshire subsidiaries. You can only belch so many times at the dinner table and get invited back. But with our culture being so different, we do attract some of these wonderful old-fashioned businesses. It's amazing what you'll see on the markets. We've seen companies valued at tens of billions of dollars that are worth nothing.