This is from a business/investment news program on our public tv station here in GA.
http://www.pbs.org/nbr/blog/2008/05/showtime_in_omaha.html
Showtime in Omaha
posted by Susie Gharib, Anchor at 10:43 AM on 05/05/08
The big event of the year for shareholders of Berkshire Hathaway is Warren Buffett’s annual meeting in Omaha, Nebraska. They look forward to learning from the richest man in the world. This year 31,000 shareholders -- some from as far away as India and Australia -- made the pilgrimage.
The other big event: The Movie. The meeting opens every year with this humorous hour-long satire featuring Buffett and his sidekick, Charlie Munger, Berkshire’s 84-year-old Vice Chairman. It’s produced by Buffett’s daughter, Susie. You won’t ever see clips from it on TV or You Tube. Buffett doesn’t allow anyone to film it. But it’s a perennial favorite with shareholders. And this year’s movie was a huge hit.
It opened with a cartoon segment spoofing the presidential race. It shows Munger as a candidate of the “Financial Independence Party.†On the campaign trail, Munger advocates that the solution to the country’s problems is for Americans to use products made by Berkshire Hathaway. He says global warming would be reduced if everyone eats a Dairy Queen Blizzard once a day. The solution to the nation’s health problems: a daily diet of See’s Candies. To help him run the country, Munger proposes that Warren Buffett become Chairman of the Federal Reserve, Treasury Secretary and Commerce Secretary; Bill Gates as Secretary of Technology and Geico Gecko as Secretary of the Environment.
The highlight of the movie was a comical episode starring Warren Buffett and Susan Lucci, star of the soap opera “All My Children.†Lucci plots to get Buffett to rescue her from solitary confinement in prison. Buffett agrees to help. But rather than using his billions to bail her out, he urges her to play his favorite game of bridge to stay occupied in prison.
After the movie, the giant TV screens lit up with a news flash: a big management shakeup at Berkshire. Buffett had decided to swap jobs with Lucci. He would become the leading man on “All My Children†and she would take over as Chairman and CEO of Berkshire. At that moment -- to the surprise of the thousands of Berkshire shareholders -- Lucci stepped onto the stage of Omaha’s Qwest arena in a white, sexy dress. She told the crowd that as Berkshire’s new chairman she would make big changes. First, an end to Buffett’s “no dividend†policy, which she said was “so cheap.†Second, earnings guidance every week. And finally, more compensation for the company’s directors, saying they deserve more than $900 a year. With that announcement, Berkshire’s directors, seated in the front row, stood up and cheered. Buffett then walked on stage and said he had come to his senses. He told Lucci, “My show is Berkshire Hathaway and my role is to run it. All My Children can’t do without you and I can’t do without Berkshire.†He thanked her and told her to go to Borsheim’s, Berkshire’s famous jewelry store, and buy anything she wanted -- and charge it to Charlie.
It won’t win an Oscar, but it entertained and enthralled Buffett’s faithful fans. Just one more reason that Berkshire believers say the trip to Omaha is so worth it.
http://www.pbs.org/nbr/blog/2008/05/showtime_in_omaha.html
Showtime in Omaha
posted by Susie Gharib, Anchor at 10:43 AM on 05/05/08
The other big event: The Movie. The meeting opens every year with this humorous hour-long satire featuring Buffett and his sidekick, Charlie Munger, Berkshire’s 84-year-old Vice Chairman. It’s produced by Buffett’s daughter, Susie. You won’t ever see clips from it on TV or You Tube. Buffett doesn’t allow anyone to film it. But it’s a perennial favorite with shareholders. And this year’s movie was a huge hit.
It opened with a cartoon segment spoofing the presidential race. It shows Munger as a candidate of the “Financial Independence Party.†On the campaign trail, Munger advocates that the solution to the country’s problems is for Americans to use products made by Berkshire Hathaway. He says global warming would be reduced if everyone eats a Dairy Queen Blizzard once a day. The solution to the nation’s health problems: a daily diet of See’s Candies. To help him run the country, Munger proposes that Warren Buffett become Chairman of the Federal Reserve, Treasury Secretary and Commerce Secretary; Bill Gates as Secretary of Technology and Geico Gecko as Secretary of the Environment.
The highlight of the movie was a comical episode starring Warren Buffett and Susan Lucci, star of the soap opera “All My Children.†Lucci plots to get Buffett to rescue her from solitary confinement in prison. Buffett agrees to help. But rather than using his billions to bail her out, he urges her to play his favorite game of bridge to stay occupied in prison.
After the movie, the giant TV screens lit up with a news flash: a big management shakeup at Berkshire. Buffett had decided to swap jobs with Lucci. He would become the leading man on “All My Children†and she would take over as Chairman and CEO of Berkshire. At that moment -- to the surprise of the thousands of Berkshire shareholders -- Lucci stepped onto the stage of Omaha’s Qwest arena in a white, sexy dress. She told the crowd that as Berkshire’s new chairman she would make big changes. First, an end to Buffett’s “no dividend†policy, which she said was “so cheap.†Second, earnings guidance every week. And finally, more compensation for the company’s directors, saying they deserve more than $900 a year. With that announcement, Berkshire’s directors, seated in the front row, stood up and cheered. Buffett then walked on stage and said he had come to his senses. He told Lucci, “My show is Berkshire Hathaway and my role is to run it. All My Children can’t do without you and I can’t do without Berkshire.†He thanked her and told her to go to Borsheim’s, Berkshire’s famous jewelry store, and buy anything she wanted -- and charge it to Charlie.
It won’t win an Oscar, but it entertained and enthralled Buffett’s faithful fans. Just one more reason that Berkshire believers say the trip to Omaha is so worth it.
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