Berkshire Hathaway

  • 14 Apr 2014 at 3:49 PM

This Cinco de Mayo, Take A Bath With Warren Buffett

Charlie Munger, too. Read more »

In a few short weeks from now, Berkshire Hathaway will hold its annual shareholder meeting in Omaha. For many, this is the social event of the year, a chance to buy deeply discounted products owned by the company and a rare opportunity to stand in close proximity to Berkshire CEO Warren Buffett. But for the last number of years, a dark cloud has hovered over the festivities, thanks to local hotels who see the meeting, to which thousands of people flock, as a convenient time to hike their prices. The opportunistic increase in rates rankles many, but none more than Buffett, who has reportedly had it up to here with the bull shit. And this is what he’s doing about it:

The billionaire investor is planning to mention the [Airbnb] at Berkshire Hathaway Inc.’s upcoming annual shareholders’ meeting on May 3 as a low-cost alternative for shareholders who don’t want to pay the jacked-up rates that Omaha hotels charge while the gathering is taking place every year…This price-gouging annoys Mr. Buffett, who says shareholders shouldn’t have to pay through their noses for a trip that, when the plane flight and other expenses are included, can add up to several thousand dollars. (Another annoyance for Mr. Buffett: Airlines also raise their Omaha fares for the weekend.) Many shareholders bring their spouses or families along for the weekend, where Berkshire’s more than 70 operating companies offer discounts on their wares. What’s more, many hotels enforce a two- or three-night minimum stay for the weekend.

If it seems unusual for the CEO of a multinational conglomerate to get involved in details like the accommodations of shareholders, you’re right, it is unusual. Brian Moynihan doesn’t call up the Marriott and try to negotiate a better price for investors flying in for the weekend and Jim Gorman doesn’t stock welcome bags with bottled water and pretzels for stakeholders coming in to see him. But Warren Buffett isn’t a regular old CEO. He’s one part chief executive, two parts self-described Mama Bear. Read more »

  • 17 Mar 2014 at 9:30 AM

Pay Raise Watch ’14: Warren Buffett, Bill Gates

Warren Buffett’s Berkshire Hathaway Inc has urged shareholders to vote against a proposal that it consider spending some of its $48.2 billion of cash on a “meaningful” dividend. According to a Berkshire proxy filing on Friday, David Witt, a Cincinnati resident who owns nearly $8,600 of Berkshire stock, will propose the payout at the company’s May 3 annual meeting. Berkshire has not paid a cash dividend since 1967…Berkshire also disclosed that Buffett’s compensation rose 15 percent last year to $485,606. That includes his usual $100,000 salary, plus $385,606 for personal and home security. The company also said it paid most directors an extra $300 last year. That meant Bill Gates, the Microsoft Corp co-founder and world’s richest person, was awarded $2,100 last year for his work as a Berkshire director. [Reuters]

The Berkshire chief may have lost something on his fastball, but he’s still got a pretty good eye for hot-shot talent. Read more »

  • 07 Oct 2013 at 1:32 PM

Warren Buffett Made Another $10 Billion

The Oracle has returned 40% (and counting!) by faithfully following this little proverb: Read more »

Hint: He may have joined the vast conspiracy against Phil Falcone. Read more »

The CharityBuzz auction benefiting “Communities In Schools of Los Angeles” is over and it’ll be winning bidder Jack Staub who gets to tour the candy factory with the Oracle of Omaha, whose love for See’s peanut brittle, mixed nuts, and licorice nearly rivals the way he feels about Cherry Coke. Better luck next time. [Related, Related]