Chris Bryant, Columnist

Siemens's Expensive Tastes

CEO is refashioning the German industrial giant -- but at a cost.
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Capital allocation is one of a CEO's most fundamental responsibilities but -- as Warren Buffett complained almost 30 years ago -- most leaders don't know how to do it properly.

After a wobbly start, Siemens AG CEO Joe Kaeser is beginning to demonstrate he can. He just needs to temper a taste for acquisitions that is expensive as his monogrammed shirts.