Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) shareholders descended in Omaha for the annual Woodstock of Capitalism that is usually held in early May of every year.
Shareholders of Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) led by Warren Buffet will be holding an annual shareholders meeting in Omaha. The event normally attracts over 40,000 shareholders from various parts of the globe, and it is usually showed all over the world from various media outlets. The meeting is usually one of the largest events in Omaha, and is normally anticipated by both locals and shareholders.
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This year, the annual event was opened by CEO, Warren Buffet, singing along cheerleaders and tossing newspapers in a contest that had pit him against local kids. Mr. Buffet, who is always highly waited upon did not disappoint the thousand of shareholders when he joined the kids in playing, and he also had a few stops in a coke stand, and he also had a Dairy Queen orange-flavored ice cream bar. The security in the event was quite tight, and at one point in time, Buffet’s bodyguards had to stop a woman who wanted to hand the CEO a book.
This meeting is usually such a big deal that people will usually strive to own just one share of Berkshire Hathaway so that they can be able to rub shoulders with some of the major stakeholders of the giant corporation like Bill Gates, Walter Scott, Charlie Munger, and the CEO Warren Buffet.
The shareholder meeting is usually meant to be a business meeting, but in recent years, it has turned in to a fiesta for the financial world. In fact, legal proceedings in the event usually take less than 15 minutes. Entry in to the event is normally hard, with only shareholders allowed although they are allowed to hold up to four passes. However, the advent of eBay has meant that cheaper tickets can be gotten. In fact, class B tickets can be gotten for as little as $80.
The meeting which at times is depicted as the Mecca for fanatics of the Oracle of Omaha normally starts with a movie or cartoons that depict the CEO, Mr. Warren and his partner Charlie Munger in a show called the Warren and Charlie Show. This depiction is usually done to mimic the two partners question and answer session that is normally the highlight of the whole event. When the meeting on Saturday closes, it is usually followed by a number of parties, events. Additionally, there are usually numerous booths that sell various products that the giant company makes and produces.
This year, the usual procedure will be followed, but after the marathon question and answer session, a panel of Wall Street analysts will join the event; a departure from the usual parties that follow soon after the Q&A session. Nonetheless, this year Warren Buffet has urged shareholders to come in numbers so that they can shop at the various subsidiaries owned by Berkshire like International Dairy Queen, and See’s Candies, and Fruit of the Loom.