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As the annual meeting for Berkshire Hathaway Inc. on May 4 in Omaha approaches, National Legal and Policy Center Chairman Peter Flaherty plans a return to the same stage where last year, while presenting NLPCs shareholder proposal, Warren Buffett cut off his speech and Flaherty was arrested. Trumped-up charges against Flaherty were later dropped.
NLPC has another proposal on Berkshires 2024 proxy statement and Flaherty is scheduled to speak on the measure for his allotted five minutes. The nonprofit corporate watchdog released a short video that briefly recounts last years incident and points out Mr. Buffetts contradictory positions on how he manages shareholder meetings.
The video may be found on NLPCs website:
The video highlights a past statement Mr. Buffett made to CNBC. Responding to an interviewers question about Berkshire allowing investors who attend the popular annual meeting to ask any question they want, Mr. Buffett responded, Weve got a partnership feeling toward the people who have given us their money, and we dont screen em, and they can ask whatevers on their mind.
However, last year Mr. Buffett made an exception to that principle when Peter Flaherty during his official remarks presenting NLPCs shareholder proposal, which was on the meeting agenda brought up Mr. Buffetts relationship with billionaire Bill Gates, their shared philanthropic efforts, and Mr. Gatess troubling relationship with deceased pedophile Jeffrey Epstein. At that point, Flahertys microphone was silenced, and security and Omaha law enforcement forcibly walked him out of the arena and to a local police precinct, where he was arrested, booked, fingerprinted and held for about three hours.
As NLPC argued last year in a report to the Securities and Exchange Commission, Berkshires identity is inextricably linked with Mr. Buffetts. As such, his philanthropic activities and personal associations are fair targets for criticism, unlike those of nearly any other corporate Chairman/CEO. NLPC also filed a complaint with the SEC late last year over Berkshires inappropriate treatment of Flaherty at the meeting.
Warren Buffett boasts that shareholders can ask questions on any topic they desire, but I guess that doesnt include questions about Bill Gates or Jeffrey Epstein, Flaherty said.
This years shareholder proposal addresses concerns about Berkshires risk vulnerabilities over the amount its sales and supply chain depend on China. Subsidiaries such as Duracell and Fruit of the Loom, and significant investments such as Apple and Coca-Cola, substantially depend on access to the communist nation. NLPC also filed a proxy memo with the SEC in support of this years proposal.
The video released by NLPC concludes by wondering if Mr. Buffett will keep his word, and let all Berkshire investors say whatever is on their mind.
For more information or to schedule an interview with Paul Chesser, contact Dan Rene at 202-329-8357 or drene@nlpc.org.
Please visit http://www.nlpc.org.
Founded in 1991, the National Legal and Policy Center promotes ethics in public life through research, investigation, education and legal action.
Contact Details
National Legal and Policy Center
Dan Rene
+1 202-329-8357
Company Website
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NLPC
COMTEX_451337879/2655/2024-04-24T09:02:41
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