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By DavidAnglin
January 21, 2010

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Omaha World Herald Report of BRK Meeting

First person report FWIW:

I saw TMFHunzi and had a nice visit. I wonder if Longreits was one of the questioners at the mic, stage right?

Anyway... Joann & I got to sit second row center and could see Warren very well. Warren pulled the out the old joke of having a cardboard cutout of Charlie sitting next to him, etc. It was one of those jokes that only really works the first time... but it made Warren laugh when the recorder played sounds of Charlie snoring.

Warren didn't get one of the questions and without Charlie to help, he stumbled and I couldn't stand it, so I "projected" my voice from the second row and clarified it for him. Then Warren answered. One of the guys in front of us turned & smiled and said that I was filling in for Charlie. My dad had trouble hearing too. It was a reflex on my part.

Questions for the floor:

In response to a question from a shareholder at the microphone, WEB clarified that he had not had any ideas (whatsoever) about using the BNSF right of way for uses other than for railroad tracks. That was not part of his valuing of the deal.

He commented on the relationship between the A and the new B shares will likely fluctuate from time to time, but noted that recently they were at parity and that the A was running lower in relationship to the B's and he seemed to expect that might be part of the process in the future.

He said that he has not had any talks with the Standard & Poor's people but surmises that BRK will eventually be invited into the S&P500. He stated that BRK is far larger than its closest non-S&P500 company.

When asked about the overwhelming numbers of people at the annual meeting he stated that they were going to reduce the number of tickets for each holding from 4 to 2. But that other than that, it was going to have to be a matter of supply and demand and cited the number of people who stayed in Lincoln Nebraska last year because all of the hotel rooms in the greater Omaha area were full.

I was wrong to suggest that folks like Mungofitch who have never attended a meeting attend this one. Warren clearly didn't want to talk about anything but the technical details of the stock split. He did answer a few questions that were not unique to the split, but he seemed to want to finish as quickly as possible, unlike his open mic atmosphere at the Gen Re special meeting. (Jim, I hope and expect that you did not attend today's meeting.)

Becky Quick, Lucy L., and others were there and took all of his time before the meeting. There was none of the "availability" that used to be part and parcel of smaller meetings. Warren kept the total shareholder meeting down to 1 hour.

So that is my report from the meeting.