Warren Buffett Watch
- Warren Buffett's Berkshire Hathaway Adds GM to Holdings
- Lunch With Warren Buffett: $2 Million-Plus?
- Warren Buffett: Lady Di Called Bill Clinton 'Sexiest Man Alive'
- CNBC Transcript: Warren Buffett on Squawk Box
- Warren Buffett: We're Buying Two US Stocks
- Warren Buffett to CNBC: Mark Zuckerberg Right to Keep Tight Control Over Facebook
- Warren Buffett: Apple and Google Too Risky For Me
- Warren Buffett Reassures Shareholders on Cancer and Succession
- Warren Buffett Recently Considered $22 Billion Acquisition
- Warren Buffett 'Very Comfortable' With Berkshire Stock Buybacks
RSS FEED
MOST SHARED
- China Rebalances Economy by Shifting Focus Inland
- China Bank Loans Pick Up After Infrastructure Push
- Greece to Leave Euro Zone on June 18: Wealth Manager
- Samsung Galaxy S3 Gets Head Start on iPhone
- Panasonic to Slash Up to 4,000 Jobs; Shares Rise
- Spain's Borrowing Costs Near Danger Level: Bailout Next?
- Greece Pours $22.6 Billion Into Four Biggest Banks
- Crude Prices Stay Firm as US Markets Reopen
- PTT Looks to Tap East African Gas via Cove Energy Bid
- European Firms Plan for Greek Unrest and Euro Exit
- A New Look at the ‘New Poor’
- Six Pack: Beer Buzz of the Week
- Greek Exit Could Trigger 50% Fall in Euro Stocks: Analyst
- Under Pressure, FHA Skews to Wealthier Home Buyers
- Big Stock Upside for Hudson City Deal: Analyst
- 5 High-Yield Stocks Ready to Boost Dividends
- Yoshikami: Four Things You Need to Know About Gold Now
- Steinbock: The Euro Zone Endgame Begins
- Option Bulls Take Another Shot on Idenix
- Greece Pours $22.6 Billion Into Its Four Biggest Banks
- US Markets Will Be Watching Europe—And Jobs Report
- Emerging Markets to Test Lehman Lows on 'Grexit'
- Spain's Debt Costs Near Danger Level: Is Bailout Next?
- Samsung Galaxy S3 Gets Head Start on iPhone
- Cool Jobs: From Gold Stacker to Bed Tester
- Shell Puts Alberta Oil Sands Project on the Block
- Egyptians Torch Shafiq HQ as Vote Triggers Violence
- Fire Kills 19, Mostly children, in Upscale Qatar Mall
Berkshire Shareholders Approve Stock Split, With Paper Cutout of Charlie Munger Looking On
Text Size 
Executive Producer
 |
That will bring the stock's price down from almost $3400 right now to roughly $67 dollars when the split becomes effective. That could happen as soon as tomorrow.
About 150 people gathered in Omaha for the special shareholders meeting, with most holders voting by proxy.
The outcome was never in doubt.
WARREN BUFFETT TO CNBC:
I WOULD HAVE VOTED AGAINST KRAFT-CADBURY DEAL
CNBC producer Lacy O'Toole is in the auditorium. She reports Buffett took some questions while sitting at a table on stage.
Charlie Munger is not present, but there is a paper cutout with his photo. Buffett also has a recording of Charlie saying, "I have nothing to add" that's been played a few times after Buffett answers a question. (That's what Charlie often says after Buffett answers a question during a lengthy Q&A session at the regular shareholders meeting each May.)
Buffett concedes that Berkshire's acquisition of Burlington Northern Santa Fe is "not cheap." And while the stock split is designed to faciliatate that deal, Buffett says even if it doesn't go through (which is very unlikely) Berkshire would still split its stock now for "the next time."
He says Berkshire doesn't like issuing stock for less than it is worth. If BNSF had insisted on more stock and less cash, on a 50/50 basis, he would have walked away from the deal.
He tells shareholders that it would now be "logical" for Berkshire to be added to the S&P 500 now that the Class B shares will be trading in double-digits with greater liquidity and volume. He thinks that will happen eventually because the company will be so large it can't be ignored. It would be a slight benefit to shareholders, he thinks, to be added to the S&P.
He adds, "The B may be the tail that wags the dog now."
Current Berkshire stock prices:
 |
Class A: [BRK.A
Loading...
()
]
Class B: [BRK.B
Loading...
()
]
For more Buffett Watch updates follow alexcrippen on Twitter.
Email comments to
Data is a real-time snapshot *Data is delayed at least 15 minutes
