Buffett's tops best-regarded US firm list
By Scott Malone |
April 6, 2010, Tuesday
|
Print Edition
Print Edition
BERKSHIRE Hathaway Inc - the investment vehicle run by Warren Buffett, the so-called sage of Omaha - topped a list of the best-regarded United States companies, although the public has a dim view of corporate America overall after a brutal economic downturn.
After a recession that prompted the US government to spend hundreds of billions of dollars on corporate bailouts, 81 percent of Americans told Harris Interactive that business's reputation is "not good" or "terrible."
That marked a slight improvement from last year, when 88 percent took that view and was the second-worst rating since Harris began asking that question in 2002.
The best year was 2004, when 68 percent of respondents said corporate America's reputation was "not good" or "terrible."
Effective management drove public perception, evidenced by the rise of Ford Motor Co - the one US auto maker to avoid bankruptcy and bailout - which rose to 37th among the 60 most visible US companies, up from 51st a year earlier. The rankings were provided to Reuters before their official release yesterday.
Omaha, Nebraska-based Berkshire's spot atop the list reflected public perception of Buffett as a chief executive who is both effective in running his company and not excessive in his pay or benefits.
"It's his humility and sense of accountability," said Robert Fronk, senior vice president at Harris. "You don't read about his excesses. Instead you read the opposite. He still has the same office. He's going to make his kids comfortable, but they're not going to be billionaires."
Johnson & Johnson, Google Inc, 3M Co and privately held SC Johnson & Son Inc rounded the list of the five companies with the best reputations.
The five companies with the worst reputations were Freddie Mac, American International Group, Fannie Mae, Citigroup and Goldman Sachs.
After a recession that prompted the US government to spend hundreds of billions of dollars on corporate bailouts, 81 percent of Americans told Harris Interactive that business's reputation is "not good" or "terrible."
That marked a slight improvement from last year, when 88 percent took that view and was the second-worst rating since Harris began asking that question in 2002.
The best year was 2004, when 68 percent of respondents said corporate America's reputation was "not good" or "terrible."
Effective management drove public perception, evidenced by the rise of Ford Motor Co - the one US auto maker to avoid bankruptcy and bailout - which rose to 37th among the 60 most visible US companies, up from 51st a year earlier. The rankings were provided to Reuters before their official release yesterday.
Omaha, Nebraska-based Berkshire's spot atop the list reflected public perception of Buffett as a chief executive who is both effective in running his company and not excessive in his pay or benefits.
"It's his humility and sense of accountability," said Robert Fronk, senior vice president at Harris. "You don't read about his excesses. Instead you read the opposite. He still has the same office. He's going to make his kids comfortable, but they're not going to be billionaires."
Johnson & Johnson, Google Inc, 3M Co and privately held SC Johnson & Son Inc rounded the list of the five companies with the best reputations.
The five companies with the worst reputations were Freddie Mac, American International Group, Fannie Mae, Citigroup and Goldman Sachs.
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