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7.6 KiB

1berkshire-1994-00:00_10:00-001Put this over here.
2berkshire-1994-00:00_10:00-003Am I live yet? Yeah.
3berkshire-1994-00:00_10:00-004Morning
4berkshire-1994-00:00_10:00-005We were a little worried today because we werent sure
5berkshire-1994-00:00_10:00-006from the reservations whether we can handle everybody but it looks to me like
6berkshire-1994-00:00_10:00-007there
7berkshire-1994-00:00_10:00-009we're going to have to uh
8berkshire-1994-00:00_10:00-010find a different spot because it looks to me like were up about 600 this year from last year
9berkshire-1994-00:00_10:00-011be on the safe side we will seek out a larger spot. Now, there
10berkshire-1994-00:00_10:00-012certain implications to that because
11berkshire-1994-00:00_10:00-013some of the more experienced of you know, a few years ago we were
12berkshire-1994-00:00_10:00-014we were holding this meeting at the Joslyn
13berkshire-1994-00:00_10:00-015Museum which is a
14berkshire-1994-00:00_10:00-016culture
15berkshire-1994-00:00_10:00-017we've now, of course, moved to
16berkshire-1994-00:00_10:00-019an old vaudeville theater. And
17berkshire-1994-00:00_10:00-020the only place in town that can hold us
18berkshire-1994-00:00_10:00-021year, I think, is the Ak-Sar-Ben Coliseum where they have keno
19berkshire-1994-00:00_10:00-022we are sliding down the cultural
20berkshire-1994-00:00_10:00-022achain just as
21berkshire-1994-00:00_10:00-023I have some rather distressing news to report
22berkshire-1994-00:00_10:00-024There are always a few people who vote against
23berkshire-1994-00:00_10:00-025everyone
24berkshire-1994-00:00_10:00-026on 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
25berkshire-1994-00:00_10:00-027to vote against
26berkshire-1994-00:00_10:00-028and
27berkshire-1994-00:00_10:00-029come as news to Charlie. I haven't told him yet but
28berkshire-1994-00:00_10:00-030he is the only one among our candidates for directors who received no
29berkshire-1994-00:00_10:00-031anegative votes
30berkshire-1994-00:00_10:00-031bthis year
31berkshire-1994-00:00_10:00-031cwhen you lose out the title of Miss Congeniality to Charlie, you know you're in trouble
32berkshire-1994-00:00_10:00-032I'd like to uh
33berkshire-1994-00:00_10:00-033.wavI'd like to tell you a little bit how we'll run this. We will we will
34berkshire-1994-00:00_10:00-034We will have the business meeting
35berkshire-1994-00:00_10:00-035in a hurry with
36berkshire-1994-00:00_10:00-36aof all of you, and then we will uh
37berkshire-1994-00:00_10:00-037introduce our managers uh
38berkshire-1994-00:00_10:00-038who are here
39berkshire-1994-00:00_10:00-039and then we will have a uh
40berkshire-1994-00:00_10:00-040Q and A uh
41berkshire-1994-00:00_10:00-041period
42berkshire-1994-00:00_10:00-042we will run that until
43berkshire-1994-00:00_10:00-043twelve o' clock
44berkshire-1994-00:00_10:00-044break
45berkshire-1994-00:00_10:00-045and then at 12:15 if the hardcore want to stick around we will have another hour, so until about 1:15
46berkshire-1994-00:00_10:00-046you're free to leave at any time, of course. I've pointed out in the past that
47berkshire-1994-00:00_10:00-047abetter form if you leave while Charlie is talking rather than when I'm talking but
48berkshire-1994-00:00_10:00-047bFeel free anytime
49berkshire-1994-00:00_10:00-047cIf you're panicked and you're
50berkshire-1994-00:00_10:00-047dand you're worried about
51berkshire-1994-00:00_10:00-049by leaving
52berkshire-1994-00:00_10:00-050ayou will be able to leave at
53berkshire-1994-00:00_10:00-051awe will have
54berkshire-1994-00:00_10:00-052buses out front
55berkshire-1994-00:00_10:00-053you to uh
56berkshire-1994-00:00_10:00-054the hotels or the uh
57berkshire-1994-00:00_10:00-058place in town in which we have a commercial interest
58berkshire-1994-00:00_10:00-059awe encourage you staying around on that basis
59berkshire-1994-00:00_10:00-061Let's have the let's get the business of the meeting out of the way. Then we can get on to more interesting things
60berkshire-1994-00:00_10:00-062I will first uh
61berkshire-1994-00:00_10:00-063introduce the Berkshire Hathaway directors that are
62berkshire-1994-00:00_10:00-065present in addition to myself
63berkshire-1994-00:00_10:00-066athere's Charlie, who is vice chairman of Berkshire
64berkshire-1994-00:00_10:00-067and if the rest of you will stand
65berkshire-1994-00:00_10:00-069Susan T. Buffett
66berkshire-1994-00:00_10:00-070Howard Buffett
67berkshire-1994-00:00_10:00-071Malcolm Chace the Third
68berkshire-1994-00:00_10:00-072and Walter Scott Junior
69berkshire-1994-00:00_10:00-073aAlso with us today are partners in the firm of Deloitte and Touche, our auditors, Mr. Ron Burgess and Mr. Craig Christiansen
70berkshire-1994-00:00_10:00-074They are available to respond to appropriate questions you might concerning their firm's audit of the accounts of Berkshire
71berkshire-1994-00:00_10:00-075Forrest Krutter, secretary of Berkshire. He will make a written record of the proceedings
72berkshire-1994-00:00_10:00-076Robert M. Fitzsimmons has been appointed inspector of election
73berkshire-1994-00:00_10:00-077meeting. He will certify to the count of votes
74berkshire-1994-00:00_10:00-078cast in the election for directors.
75berkshire-1994-00:00_10:00-079The named proxy holders for this meeting are Walter Scott Jr. and Marc D. Hamburg
76berkshire-1994-00:00_10:00-080cards have been returned through last Friday
77berkshire-1994-00:00_10:00-081presenting 1,035,680 Berkshire shares to be voted by the proxy holders as indicated on the cards.
78berkshire-1994-00:00_10:00-082number of shares represents a quorum and we will therefore
79berkshire-1994-00:00_10:00-083directly proceed with the meeting
80berkshire-1994-00:00_10:00-084conduct the business of the meeting and then adjourn to the formal meeting
81berkshire-1994-00:00_10:00-086of the minutes of the last meeting of shareholders
82berkshire-1994-00:00_10:00-087I recognize Mr. Walter Scott Jr. who will place a motion before the meeting
83berkshire-1994-00:00_10:00-089Do I hear a second?
84berkshire-1994-00:00_10:00-090aMotion has been moved and seconded. Are there any comments or questions? Hearing none, we will vote on the motion by voice
85berkshire-1994-00:00_10:00-090bAll those in favor say aye.
86berkshire-1994-00:00_10:00-106shareholder is present who wishes to withdraw a proxy previously sent in and vote in person, he or she may do so
87berkshire-1994-00:00_10:00-107Also 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
88berkshire-1994-00:00_10:00-108you wish to do this, please identify yourself ot meeting officials in the aisles who will furnish a ballot to you
89berkshire-1994-00:00_10:00-109persons desiring ballots please identify themselves so that we may distribute them
90berkshire-1994-00:00_10:00-110I now recognize Mr. Walter Scott Jr. to place a motion before the meeting with respect election of directors.
91berkshire-1994-00:00_10:00-117Are there any other nominations?
92berkshire-1994-00:00_10:00-118there any discussion?
93berkshire-1994-00:00_10:00-119Motion and nominations are ready to be acted upon.
94berkshire-1994-00:00_10:00-120there are any shareholders voting in person they
95berkshire-1994-00:00_10:00-121they should now mark their ballots and allow the ballots to be delivered to the inspector of elections
96berkshire-1994-00:00_10:00-144Now, I'd like to introduce
97berkshire-1994-00:00_10:00-145some of the people who make this place work
98berkshire-1994-00:00_10:00-148and if you would
99berkshire-1994-00:00_10:00-149ahold your applause until the end because there are quite a number of our managers
100berkshire-1994-00:00_10:00-150I'm not sure which ones for sure are here, some of them may be out