Berkshire Hathaway 2008 Annual Report Download - page 25

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This year we will be making important changes in how we handle the meeting’s question periods. In
recent years, we have received only a handful of questions directly related to Berkshire and its operations. Last
year there were practically none. So we need to steer the discussion back to Berkshire’s businesses.
In a related problem, there has been a mad rush when the doors open at 7 a.m., led by people who wish
to be first in line at the 12 microphones available for questioners. This is not desirable from a safety standpoint,
nor do we believe that sprinting ability should be the determinant of who gets to pose questions. (At age 78, I’ve
concluded that speed afoot is a ridiculously overrated talent.) Again, a new procedure is desirable.
In our first change, several financial journalists from organizations representing newspapers,
magazines and television will participate in the question-and-answer period, asking Charlie and me questions that
shareholders have submitted by e-mail. The journalists and their e-mail addresses are: Carol Loomis, of Fortune,
who may be emailed at cloomis@fortunemail.com; Becky Quick, of CNBC, at [email protected],
and Andrew Ross Sorkin, of The New York Times, at [email protected]. From the questions submitted,
each journalist will choose the dozen or so he or she decides are the most interesting and important. (In your
e-mail, let the journalist know if you would like your name mentioned if your question is selected.)
Neither Charlie nor I will get so much as a clue about the questions to be asked. We know the
journalists will pick some tough ones and that’s the way we like it.
In our second change, we will have a drawing at 8:15 at each microphone for those shareholders
hoping to ask questions themselves. At the meeting, I will alternate the questions asked by the journalists with
those from the winning shareholders. At least half the questions – those selected by the panel from your
submissions – are therefore certain to be Berkshire-related. We will meanwhile continue to get some good – and
perhaps entertaining – questions from the audience as well.
So join us at our Woodstock for Capitalists and let us know how you like the new format. Charlie and I
look forward to seeing you.
February 27, 2009 Warren E. Buffett
Chairman of the Board
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