Berkshire Annual Meeting Briefs - 4/30/15

Today's post is all Annual Meeting news!

Why Buffett’s Capitalist Woodstock Won’t Endure Like Garcia Jams (Bloomberg)

Tens of thousands of people will gather at an Omaha, Nebraska, arena Saturday to listen to the billionaire and his sidekick, Charles Munger, entertain the crowd with their thoughts about business. As in years past, recording will be strictly off limits.

The prohibition makes the session a must-attend event for investors and financial journalists, who pay jacked-up airfares and hotel rates to be there when two of the business world’s rock stars open their mouths. It also highlights the leeway corporations have in organizing their annual meetings with shareholders.

“There is no legal obligation to make a transcript available, or to allow recording of an event that is otherwise public,” said Joseph Grundfest, a professor at Stanford Law School and a former member of the U.S. Securities and Exchange Commission. [...]

Warren Buffett watch: Oracle to be less visible at shareholder festivities (Omaha World-Herald)

Warren Buffett will be somewhat less visible at next weekend’s festivities for Berkshire Hathaway Inc. shareholders, which seems to continue a trend that he and longtime partner Charlie Munger have followed in recent years.

15 Things to Expect at Berkshire Hathaway's Annual Meeting This Weekend (Fool)

There are certain things that Buffett-watchers can expect every year from the meeting, but every year's meeting is a bit different. And this year promises to be particularly memorable, as it marks the 50-year anniversary of Buffett and Munger at the helm of Berkshire.

So what exactly should we expect from this year's edition of the Woodstock for Capitalists? Let's see...

11 quirky events Warren Buffett's 'ringmaster' is planning for Berkshire's blowout this weekend (Business Insider)

Carrie Sova spends the better part of nine months a year planning the annual meeting, reported the Wall Street Journal's Anupreeta Das – from hiring an outside design firm to organize the 40 companies at the exhibition to that time she had to figure out how to park a real Burlington Northern train outside the downtown Omaha hall.

Whatever Buffett’s whims may be, Sova is the one to carry them out: “The big picture—any of the really good concepts . . . stemmed from Warren, and the little details of making all of it come together were worked out by our staff,” Sova, 30, who was Buffett's second assistant before becoming his "ringmaster," told the Journal.

Finally, in case you're going to the annual meeting and want to bring me back something as a gift...

Business Wire Raises Money for Children's Charity at the 2015 Berkshire Hathaway Annual Meeting (BusinessWire)

At this year’s Berkshire Hathaway annual meeting on May 2, Business Wire will once again be raising money for charity selling commemorative gold-colored themed tumblers that benefit a local youth organization.

“What a great opportunity to raise awareness while generating much-needed funds to support advocates for children within the court system. Every dollar that Business Wire raises ultimately helps transform a child’s future,” said Kimberly Thomas, Executive Director of CASA for Douglas County.

A popular show tradition, Business Wire's fundraiser mementos provide Berkshire Hathaway shareholders with creative, limited edition keepsakes that mark the theme of the year’s gathering.

For 2015, Business Wire features a Berkshire Hathaway 50th anniversary coffee tumbler, available for $10 each.

50-Carat Rare Diamond On Display For Berkshire Hathaway's 50th (WOWT)

It may be called the Golden Jubilee, but Borsheim's is celebrating 50 years of Berkshire Hathaway with diamonds!

A 50-carat fancy yellow diamond ring, a set of Exceptional Diamonds from Forevermark, and a limited collection of loose diamonds with Warren Buffett’s signature engraved on the culet will all be available for Berkshire Hathaway shareholders to see and purchase at Borsheim's during Berkshire Hathaway shareholders weekend.

The diamonds are incredibly rare. The 50-carat cushion cut diamond ring is a natural fancy yellow color and retails for $2.3 million. A Berkshire Hathaway shareholder can take it home for just over $1.7 million.

(And don't forget the Brooks Buffett-themed running shoe that I posted last month. I'm a size 10.)

Berkshire News Briefs - 4/29/15

Berkshire Hathaway Inc BNSF Retakes Agricultural Transport Market Share From Union Pacific Corporation (Bidness Etc)

Berkshire Hathaway Inc.-owned Burlington Northern Santa Fe Corp (BNSF) railway reported yesterday that it has taken back its market share of grain and agricultural goods. The company lost its share last year as it failed to meet the customer demand and because its competitor, Union Pacific Corporation, had taken the market share lost by BNSF, and has been providing services since then. [...]

Union Pacific managed to increase its carload by 6.7% during last year, benefiting from the market share loss of BNSF. As BNSF is increasing its market share in agricultural goods, Union Pacific will ultimately lose some of its cargo load and market share. BNSF managed to increase its grain carload by 27% in the first quarter of the current year, hitting Union Pacific carload, which declined 3%. BNSF aims at further increasing its market share of agricultural product cargo, which contributed to 19% of the company’s total revenues last year.

Berkshire insurance unit has unique birthday celebrations (Boston Globe)

Most financial companies don’t celebrate their birthday with a slide show and a song written for the occasion. But Berkshire Hathaway Specialty Insurance isn’t a typical financial company.

The company already employs more than 550 people, including nearly 75 at its downtown Boston headquarters, even though the Berkshire Hathaway subsidiary will be only two years old on April 29. It’s aiming to exceed $1 billion in premiums this year. [...]

The company now has nine offices in the United States and operates in five other countries. It has made at least one big acquisition, the purchase in 2014 of travel assistance firms MyAssist and Insure America, so far. Eastwood said he hopes to expand into the United Kingdom and continental Europe later this year.

MiTek Acquires BuilderMT (BusinessWire)

MiTek Industries, Inc. (“MiTek”), a diversified, global business supplying a wide range of engineered products; proprietary business management and design software; and automated equipment sold into the broad construction and industrial end markets announced today that it has acquired BuilderMT, headquartered in Denver, Colorado. BuilderMT is a leader in providing industry-specific workflow process management software to the residential home building market, serving both single family and multi-family builders.

Berkshire Hathaway Specialty Insurance Company Expands into Australia (BusinessWire)

Berkshire Hathaway Specialty Insurance Company (BHSI) today announced that it has received its insurance license to provide all lines of General Business in Australia, established operations in Sydney, and named Chris Colahan as President of its Australasia Region. [...]

Beginning immediately, BHSI will be providing property, casualty, financial lines and marine cargo insurance in Australia.

Angie's List Announces Exclusive Relationship with Shaw Industries (BusinessWire)

Angie’s List today announced an exclusive relationship with Shaw Industries, the world’s largest carpet manufacturer, that will provide Angie’s List members with exclusive product offers from Shaw. [...]

Brady added that the agreement with Shaw comes on the heels of a similar agreement Angie’s List announced last month with Benjamin Moore & Company. Both Shaw and Benjamin Moore are Berkshire Hathaway companies.

Under the agreement, Shaw will provide discounts to service providers on Angie’s List who buy Shaw flooring for installation to Angie’s List members. In addition, members will be able to purchase pre-packaged offers from Angie’s List’s online marketplace that include Shaw flooring and installation.

3 Ways Berkshire Hathaway Will Look Different 10 Years From Now (Fool)

Berkshire Hathaway is Mr. Buffett's life work and he has directly contributed an incalculable amount of value to the firm through his capital allocation choices. However, his retirement or death wouldn't be catastrophic -- contrary to what some investors appear to believe. As one should reasonably expect, given the care and effort with which he has built Berkshire, Buffett has been equally deliberate in putting in place the people and the structures necessary to ensure that the business will continue to thrive without him.

CORT Partners with FamilyAid Boston to Address Homelessness (Furniture World)

CORT, a Berkshire Hathaway Company and the nation’s leading provider of transition services, has partnered with FamilyAid Boston to provide supportive housing solutions for approximately 2,500 homeless parents and children in Boston, Massachusetts, each year. More specifically, CORT has provided furniture solutions for FamilyAid Boston’s apartment-based shelter units in an effort to provide families with private, neighborhood-based shelter while they work to regain their stability and return to permanent housing. [...]

Over the past eight years, CORT has worked with FamilyAid Boston to provide furniture and accessories for roughly 1,000 shelter housing units. CORT furniture solutions include sofas, beddings, dressers and artwork. In addition, CORT has donated furniture accessories such as lamps and artwork, helping turn the apartment units into homes.