OMAHA, Neb. (AP) — The Latest on Berkshire Hathaway’s annual shareholders meeting. Tens of thousands of people will fill an arena to listen to CEO Warren Buffett and Vice Chairman Charlie Munger talk business for more than five hours (all times local):
A shareholder exclaimed “There he is” as he joined the throng of people surrounding Berkshire Hathaway CEO Warren Buffett at the booth displaying aviation parts and other products made by Precision Castparts.
Buffett was again surrounded by dozens of shareholders trying to get close enough to take a picture as he toured the exhibit hall at Berkshire’s annual meeting. The 85-year-old investor is treated like a rock star at the event.
University of Arkansas student Fabio Rivera says he and some friends drove up to attend the meeting to hear Buffett talk.
Rivera says he wishes he had opportunities to see top business leaders like this in his home country of Honduras.
A group of environmentalists hopes to make an impression on Buffett and the audience when they urge shareholders to support drafting a report on climate change risks Berkshire Hathaway’s insurance companies face.
Tim Rinne with the Nebraskans for Peace group that submitted the resolution says he knows the measure is likely to be defeated given that Buffett opposes it and he controls nearly one-third of the votes, but he hopes they can persuade Buffett to speak out about climate change.
The group brought in climate scientist Jim Hansen and Illinois State University professor and insurance expert Jim Jones to make their case at Saturday’s meeting.
Buffett said in his annual letter that the report isn’t needed. He says it’s reasonable to worry about climate change’s effect on the world, but it shouldn’t hurt insurance companies because policy prices are set annually based on that year’s risks.
Shareholders began to fill Omaha’s downtown arena for Berkshire Hathaway’s annual shareholder meeting before 6:30 a.m. Saturday.
The company let the crowd in the Centurylink Center early Saturday, so people could get out of the steady rain and begin filtering through the metal detectors security set up for the first time this year.
They’ll have to wait a couple hours for Berkshire CEO Warren Buffett and Vice Chairman Charlie Munger to begin answering questions. That’s the day’s main attraction.
But in the meantime, they can grab breakfast or start shopping at one of the booths selling products made by Berkshire Hathaway subsidiaries in the 200,000-square foot exhibit hall. See’s Candy and Dairy Queen offer plenty for a sweet tooth while Fruit of the Loom, Geico insurance and Brooks running booths can serve more practical needs.
Berkshire Hathaway’s peculiarities are on display again this weekend with tens of thousands of people filling an arena to listen to Warren Buffett and Charlie Munger talk business for hours at the conglomerate’s annual meeting.
The Omaha event features an adjoining 200,000-square-foot exhibit hall where Berkshire subsidiaries such as See’s Candy, Fruit of the Loom and Geico insurance sell their products as executives chat with shareholders.
For the first time, Saturday’s meeting will be broadcast online on Yahoo Finance. The crowd may be smaller than last year’s 50th anniversary meeting.
Bob Shanahan returned to for his second Berkshire meeting, so his son, Tim, would have a chance to attend the event while the 85-year-old Buffett and 92-year-old Munger are still leading the company.