berkshire-1994-00:00_10:00-001|Put this over here.
berkshire-1994-00:00_10:00-003|Am I live yet? Yeah.
berkshire-1994-00:00_10:00-004|Morning
berkshire-1994-00:00_10:00-005|We were a little worried today because we weren’t sure
berkshire-1994-00:00_10:00-006|from the reservations whether we can handle everybody but it looks to me like
berkshire-1994-00:00_10:00-007|there
berkshire-1994-00:00_10:00-009|we're going to have to uh
berkshire-1994-00:00_10:00-010|find a different spot because it looks to me like we’re up about 600 this year from last year
berkshire-1994-00:00_10:00-011|be on the safe side we will seek out a larger spot. Now, there
berkshire-1994-00:00_10:00-012|certain implications to that because
berkshire-1994-00:00_10:00-013|some of the more experienced of you know, a few years ago we were
berkshire-1994-00:00_10:00-014|we were holding this meeting at the Joslyn
berkshire-1994-00:00_10:00-015|Museum which is a
berkshire-1994-00:00_10:00-016|culture
berkshire-1994-00:00_10:00-017|we've now, of course, moved to
berkshire-1994-00:00_10:00-019|an old vaudeville theater. And
berkshire-1994-00:00_10:00-020|the only place in town that can hold us
berkshire-1994-00:00_10:00-021|year, I think, is the Ak-Sar-Ben Coliseum where they have keno
berkshire-1994-00:00_10:00-022|we are sliding down the cultural
berkshire-1994-00:00_10:00-022a|chain just as 
berkshire-1994-00:00_10:00-023|I have some rather distressing news to report
berkshire-1994-00:00_10:00-024|There are always a few people who vote against
berkshire-1994-00:00_10:00-025|everyone
berkshire-1994-00:00_10:00-026|on the slate for directors, and there are maybe a dozen or so people do that. Then there are others who single shot it, and they pick out people
berkshire-1994-00:00_10:00-027|to vote against
berkshire-1994-00:00_10:00-028|and
berkshire-1994-00:00_10:00-029|come as news to Charlie. I haven't told him yet but
berkshire-1994-00:00_10:00-030|he is the only one among our candidates for directors who received no
berkshire-1994-00:00_10:00-031a|negative votes
berkshire-1994-00:00_10:00-031b|this year
berkshire-1994-00:00_10:00-031c|when you lose out the title of Miss Congeniality to Charlie, you know you're in trouble
berkshire-1994-00:00_10:00-032|I'd like to uh
berkshire-1994-00:00_10:00-033|I'd like to tell you a little bit how we'll run this. We will we will
berkshire-1994-00:00_10:00-034|We will have the business meeting
berkshire-1994-00:00_10:00-035|in a hurry with
berkshire-1994-00:00_10:00-36a|of all of you, and then we will uh
berkshire-1994-00:00_10:00-037|introduce our managers uh
berkshire-1994-00:00_10:00-038|who are here
berkshire-1994-00:00_10:00-039|and then we will have a uh
berkshire-1994-00:00_10:00-040|Q and A uh
berkshire-1994-00:00_10:00-041|period
berkshire-1994-00:00_10:00-042|we will run that until
berkshire-1994-00:00_10:00-043|twelve o' clock
berkshire-1994-00:00_10:00-044|break
berkshire-1994-00:00_10:00-045|and then at 12:15 if the hardcore want to stick around we will have another hour, so until about 1:15
berkshire-1994-00:00_10:00-046|you're free to leave at any time, of course. I've pointed out in the past that 
berkshire-1994-00:00_10:00-047a|better form if you leave while Charlie is talking rather than when I'm talking but
berkshire-1994-00:00_10:00-047b|Feel free anytime
berkshire-1994-00:00_10:00-047c|If you're panicked and you're
berkshire-1994-00:00_10:00-047d|and you're worried about
berkshire-1994-00:00_10:00-049|by leaving
berkshire-1994-00:00_10:00-050a|you will be able to leave at 
berkshire-1994-00:00_10:00-051a|we will have
berkshire-1994-00:00_10:00-052|buses out front
berkshire-1994-00:00_10:00-053|you to uh
berkshire-1994-00:00_10:00-054|the hotels or the uh
berkshire-1994-00:00_10:00-058|place in town in which we have a commercial interest
berkshire-1994-00:00_10:00-059a|we encourage you staying around on that basis
berkshire-1994-00:00_10:00-061|Let's have the let's get the business of the meeting out of the way. Then we can get on to more interesting things
berkshire-1994-00:00_10:00-062|I will first uh
berkshire-1994-00:00_10:00-063|introduce the Berkshire Hathaway directors that are
berkshire-1994-00:00_10:00-065|present in addition to myself
berkshire-1994-00:00_10:00-066a|there's Charlie, who is vice chairman of Berkshire
berkshire-1994-00:00_10:00-067|and if the rest of you will stand
berkshire-1994-00:00_10:00-069|Susan T. Buffett
berkshire-1994-00:00_10:00-070|Howard Buffett
berkshire-1994-00:00_10:00-071|Malcolm Chace the Third
berkshire-1994-00:00_10:00-072|and Walter Scott Junior
berkshire-1994-00:00_10:00-073a|Also with us today are partners in the firm of Deloitte and Touche, our auditors, Mr. Ron Burgess and Mr. Craig Christiansen
berkshire-1994-00:00_10:00-074|They are available to respond to appropriate questions you might concerning their firm's audit of the accounts of Berkshire
berkshire-1994-00:00_10:00-075|Forrest Krutter, secretary of Berkshire. He will make a written record of the proceedings
berkshire-1994-00:00_10:00-076|Robert M. Fitzsimmons has been appointed inspector of election
berkshire-1994-00:00_10:00-077|meeting. He will certify to the count of votes
berkshire-1994-00:00_10:00-078|cast in the election for directors.
berkshire-1994-00:00_10:00-079|The named proxy holders for this meeting are Walter Scott Jr. and Marc D. Hamburg
berkshire-1994-00:00_10:00-080|cards have been returned through last Friday
berkshire-1994-00:00_10:00-081|presenting 1,035,680 Berkshire shares to be voted by the proxy holders as indicated on the cards.
berkshire-1994-00:00_10:00-082|number of shares represents a quorum and we will therefore
berkshire-1994-00:00_10:00-083|directly proceed with the meeting
berkshire-1994-00:00_10:00-084|conduct the business of the meeting and then adjourn to the formal meeting
berkshire-1994-00:00_10:00-086|of the minutes of the last meeting of shareholders
berkshire-1994-00:00_10:00-087|I recognize Mr. Walter Scott Jr. who will place a motion before the meeting
berkshire-1994-00:00_10:00-089|Do I hear a second?
berkshire-1994-00:00_10:00-090a|Motion has been moved and seconded. Are there any comments or questions? Hearing none, we will vote on the motion by voice
berkshire-1994-00:00_10:00-090b|All those in favor say aye.
berkshire-1994-00:00_10:00-106|shareholder is present who wishes to withdraw a proxy previously sent in and vote in person, he or she may do so 
berkshire-1994-00:00_10:00-107|Also if any shareholder that's present has not turned in a proxy and desires a ballot in order to vote in person, you may do so 
berkshire-1994-00:00_10:00-108|you wish to do this, please identify yourself ot meeting officials in the aisles who will furnish a ballot to you
berkshire-1994-00:00_10:00-109|persons desiring ballots please identify themselves so that we may distribute them 
berkshire-1994-00:00_10:00-110|I now recognize Mr. Walter Scott Jr. to place a motion before the meeting with respect election of directors.
berkshire-1994-00:00_10:00-117|Are there any other nominations?
berkshire-1994-00:00_10:00-118|there any discussion?
berkshire-1994-00:00_10:00-119|Motion and nominations are ready to be acted upon.
berkshire-1994-00:00_10:00-120|there are any shareholders voting in person they
berkshire-1994-00:00_10:00-121|they should now mark their ballots and allow the ballots to be delivered to the inspector of elections
berkshire-1994-00:00_10:00-144|Now, I'd like to introduce
berkshire-1994-00:00_10:00-145|some of the people who make this place work
berkshire-1994-00:00_10:00-148|and if you would
berkshire-1994-00:00_10:00-149a|hold your applause until the end because there are quite a number of our managers
berkshire-1994-00:00_10:00-150|I'm not sure which ones for sure are here, some of them may be out