BUSINESS

How Warren Buffett Protégé David Sokol Lost His Way

04/28/2011 09:33 am ET | Updated Jun 28, 2011

Berkshire's harsh report intensifies the attention the Sokol affair has focused on the succession question at Berkshire, a company whose achievements and $205 billion market capitalization depend heavily on its reputation for "playing in the middle of the court," to use a famous Buffettism, and nowhere near the ethical boundary lines. Sokol's sudden fall has also shaken a city that takes tremendous pride in its association with Berkshire. "We're all sad, indeed," says Daub, a partner with the law firm Husch Blackwell. "It's a shock."

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