Berkshire Hathaway 2004 Annual Report Download - page 26

The Annual Meeting
There are two changes this year concerning the annual meeting. First, we have scheduled the
meeting for the last Saturday in April (the 30th), rather than the usual first Saturday in May. This year
Mother’ s Day falls on May 8, and it would be unfair to ask the employees of Borsheim’ s and Gorat’ s to
take care of us at that special time – so we’ ve moved everything up a week. Next year we’ ll return to our
regular timing, holding the meeting on May 6, 2006.
Additionally, we are changing the sequence of events on meeting day, April 30. Just as always,
the doors will open at the Qwest Center at 7 a.m. and the movie will be shown at 8:30. At 9:30, however,
we will go directly to the question and answer period, which (allowing for lunch at the Qwest’ s stands) will
last until 3:00. Then, after a short recess, Charlie and I will convene the annual meeting at 3:15.
We have made this change because a number of shareholders complained last year about the time
consumed by two speakers who advocated proposals of limited interest to the majority of the audience –
and who were no doubt relishing their chance to talk to a captive group of about 19,500. With our new
procedure, those shareholders who wish to hear it all can stick around for the formal meeting and those who
don’ t can leave – or better yet shop.
There will be plenty of opportunity for that pastime in the vast exhibition hall that adjoins the
meeting area. Kelly Muchemore, the Flo Ziegfeld of Berkshire, put on a magnificent shopping
extravaganza last year, and she says that was just a warm-up for this year. (Kelly, I am delighted to report,
is getting married in October. I’ m giving her away and suggested that she make a little history by holding
the wedding at the annual meeting. She balked, however, when Charlie insisted that he be the ringbearer.)
Again we will showcase a 2,100 square foot Clayton home (featuring Acme brick, Shaw carpet,
Johns Manville insulation, MiTek fasteners, Carefree awnings and NFM furniture). Take a tour through
the home. Better yet, buy it.
GEICO will have a booth staffed by a number of its top counselors from around the country, all of
them ready to supply you with auto insurance quotes. In most cases, GEICO will be able to give you a
special shareholder discount (usually 8%). This special offer is permitted by 45 of the 50 jurisdictions in
which we operate. Bring the details of your existing insurance and check out whether we can save you
money.
On Saturday, at the Omaha airport, we will have the usual array of aircraft from NetJets®
available for your inspection. Stop by the NetJets booth at the Qwest to learn about viewing these planes.
Come to Omaha by bus; leave in your new plane.
The Bookworm shop did a terrific business last year selling Berkshire-related books. Displaying
18 titles, they sold 2,920 copies for $61,000. Since we charge the shop no rent (I must be getting soft), it
gives shareholders a 20% discount. This year I’ ve asked The Bookworm to add Graham Allison’ s Nuclear
Terrorism: The Ultimate Preventable Catastrophe, a must-read for those concerned with the safety of our
country. In addition, the shop will premiere Poor Charlie’s Almanack, a book compiled by Peter Kaufman.
Scholars have for too long debated whether Charlie is the reincarnation of Ben Franklin. This book should
settle the question.
An attachment to the proxy material that is enclosed with this report explains how you can obtain
the credential you will need for admission to the meeting and other events. As for plane, hotel and car
reservations, we have again signed up American Express (800-799-6634) to give you special help. They do
a terrific job for us each year, and I thank them for it.
At Nebraska Furniture Mart, located on a 77-acre site on 72nd Street between Dodge and Pacific,
we will again be having “Berkshire Weekend” pricing. We initiated this special event at NFM eight years
ago, and sales during the “Weekend” grew from $5.3 million in 1997 to $25.1 million in 2004 (up 45%
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