Rodent Regatta

Today is the day for Berkshire Hathaway’s annual meeting of shareholders in Omaha. I couldn’t go this year. Normally, they expect 15,000 people to attend the gathering which Warren Buffett labeled ”Woodstock for Capitalists” a number of years ago.

News coming out of the meeting tells of approximately $1.7 billion in operating earnings for the first quarter. Mr. Buffett also discussed Berkshire’s pending purchase of McLane Company, Inc. from Wal-Mart. $22 billion in sales and two thirds of that does NOT go to Wal-Mart.