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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
No. of Recommendations: 7
NLPC Chairman Peter Flaherty Arrested During Berkshire Shareholder Proposal Presentation After Connecting CEO Warren Buffett to Bill Gates and Jeffrey Epstein (VIDEO)
By Jim Hoft May. 8, 2023 8:52 pm143 Comments
Peter Flaherty, chairman of the National Legal and Policy Center (NLPC), had his microphone cut, arrested, and escorted out of the Berkshire Hathaway annual meeting on Saturday in Omaha, Nebraska.
Flaherty was removed at the shareholders' meeting and was charged with 'criminal trespass' after making statements against Berkshire Hathaway CEO Warren Buffett for his support for Bill Gates' organization and his association with convicted felon Jeffrey Epstein.
The National Legal and Policy Center (NLPC) is the primary proponent of a Berkshire Hathaway shareholder proposal that seeks to separate the responsibilities of the Chairman and CEO, according to NLPC's press release.
Flaherty argued that Berkshire 'would be less identified with Mr. Buffett's personal political activities' if it had an independent chair, citing Warren Buffett's support for the Bill and Melinda Gates Foundation as an example.
Each resolution sponsor was allotted three minutes to make their argument. Michael Frerichs, the Treasurer of Illinois, was one of three speakers who spoke before Flaherty without being cut off.
The following is the prepared statement that NLPC Chairman Peter Flaherty wants to make at the Berkshire annual meeting.
I am Peter Flaherty, Chairman of the National Legal and Policy Center.
If we had an independent chair, the Company would be less identified with Mr. Buffett's political activities.
He's donated more than $100 billion to the Bill and Melinda Gates Foundation. As Bill Gates explained when the couple was still together, 'although the foundation bears our names, basically half our resources have come from Warren Buffett.'
If 'woke' culture is a disease, then philanthropy is the virus.
The Gates Foundation bankrolls the teaching of Critical Race Theory around the country, including that math is inherently racist.
The Gates Foundation offers a Gender Identity Toolbox, which asserts that gender is the result of 'socially and culturally constructed ideas.'
This is a lie. Gender is not a cultural construct. It is a genetic and biological fact.
We know how much Bill Gates cares about children. He met and traveled with Jeffrey Epstein MANY times AFTER Epstein was convicted of sex crimes.
The Gates Foundation had a huge influence over the COVID response fiasco. Bill Gates defended China's COVID policies and still discounts the possibility that the virus originated from a lab, even though U.S. intelligence agencies disagree.
The Gates Foundation may be the largest single donor to the 'dark money' machine known as Arabella Associates which funds causes like defunding the police that are making American cities unlivable.
Money goes, too, to groups conducting threatening and vulgar protests at their homes of Supreme Court Justices.
Mr. Buffett has quietly funneled more than $4 billion to groups supporting abortion on demand through the Susan Thompson Buffett Foundation.
That's $4 billion, with a B. Advocacy disguised as philanthropy.
Bill Gates has lamented political polarization and even worried aloud about a civil war. But it is billionaires who are funding the most shrill and extreme activists who are tearing our country apart.
Ironically, Mr. Buffett has pointed out that corporate executives can make a lot of people mad when they insert themselves into controversy.
Anheuser-Busch is finding that out. It cannot renounce its Dylan Mulvaney transgender promotion because it is handcuffed by its longtime support for activists who would turn on them in a minute.
Anheuser-Busch gets a perfect grade on the Human Rights Campaign scorecard, as do Berkshire portfolio companies like Coca-Cola, Bank of America, and Apple.
Bank of America and Apple help bankroll this group, which wants biological men to compete in women's sports.
Worse, it is currently pressuring state legislatures to allow sex change operations on children, and to keep their parents out of the decision.
Let's revisit Coca-Cola, which I discussed at last year's meeting. CEO James Quincey, a British citizen, tried to kill Georgia's voter integrity law in 2021 by making inaccurate and inflammatory statements about it.
That's the law that President Biden called 'Jim Crow 2.0,' and which prompted Major League Baseball to move the All-Star game out of Atlanta.
Mr. Buffett jumped on the bandwagon, too, by signing a statement by corporate leaders suggesting that Republicans seek to restrict ballot access based on race.
Two years later, we can now evaluate that accusation.
Last year, an election was held in Georgia. Turnout was record breaking. According to an independent poll, 99% of voters said they had 'no problem' casting ballots. 92% said the new law either had no impact on their ability to vote or made it easier.
James Quincey was wrong, and Mr. Buffett, so were you.
During the first minute of his speech, he was approached and interrupted at the microphone.
Cathy Woollums, a Berkshire official who was a designated liaison with proponents for the meeting told Flaherty that he should stay 'on topic.'
Flaherty stated into the microphone, 'You are not going to censor what I say, ma'am. I'm very sorry. And I appeal to the Chair (occupied by Buffett) that I be allowed to continue sir.
Buffett responded, 'You may continue but under the three-minute limitation. Flaherty stated, 'Of course,' and resumed speaking until when his mike went dead.
WATCH:
'Immediately, two representatives of Clark International Security approached and stood in front of Flaherty,' according to NLPC's press release. 'He was told to leave or he would be arrested. Flaherty replied that he would leave when he finished his statement. At this point, Flaherty was not fully aware that his mic had been cut, was still under the three-minute limitation, and had already received a favorable ruling from the chair.'
Flaherty was charged with criminal trespass by Omaha police.
'One of the Clark representatives summoned a uniformed Omaha policeman who was nearby and requested that he arrest Flaherty. He grabbed Flaherty by the arm, advised him that he was under arrest, and led him from the arena. Flaherty was transported by Omaha police to the Douglas County Corrections Center where he was searched, handcuffed, and charged with criminal trespass.'
WATCH:
More from NLPC's press release:
NLPC filed a similar proposal for an independent chair last year at Berkshire when Flaherty spoke in support of the resolution without incident. The proposal received support from diverse shareholders including the California Public Employees' Retirement System (CalPERS).
NLPC sponsors the Corporate Integrity Project and has engaged in shareholder activism since 2004. In 2023, NLPC is the proponent of proposals at 26 companies on a variety of topics.
NLPC-filed proposals for an independent chair were also considered, or will be considered, this year at Bank of America, Coca-Cola, Goldman Sachs, Home Depot, Mondelez, PepsiCo, Salesforce, and Visa.
Since 2004, Flaherty has spoken at the annual meetings of dozens of companies including Alphabet, Amazon, Bank of America, Boeing, Citigroup, Coca-Cola, Colgate-Palmolive, Goldman Sachs, Merck, Facebook (now Meta), PepsiCo, Procter & Gamble and Walmart. In connection to NLPC proposals, he has met with many corporate executives over the years, including then-PepsiCo CEO Indra Nooyi and then-GE CEO Jeff Immelt.
No. of Recommendations: 2
Good morning, to be honest, years ago I wondered if Buffett was going to sever his relationship with Gates and the G Foundation, and move closer to Melinda who he trusts and respects. Apparently, Buffett has decided to, overlook, certain critical mistakes made by Bill, to be kind.
No. of Recommendations: 0
Why did Bill Gates abruptly resign from BOD of BRK and MSFT? Normal?
Why did Melinda Gates quickly divorce and distance herself from Bill?
Why did Gates meet repeatedly with Epstein AFTER he was a convicted felon?
Gates Foundation has serious voting power and will impact remaining shareholders.
No. of Recommendations: 24
Hey, I don't love Bill Gates and his associations and some of his opinions, yet I was there and saw it all and the context. Mr. Flaherty was a bull-headed & pompous proxy speaker imo that wanted to use the Berkshire meeting to go on a total rant against Gates and vilify WEB for his association and contributing personally to his foundation which has many great causes imo. Gates has made some Very poor personal choices, but this had nothing to do with BRK itself and whether the chairman and CEO role should be separate imo. The blow hard was disruptive and insisting on continuing his off-topic attacks and deserved to be cut off imo.
Wow, I did not know he was arrested, but his own defiant, loud and disruptive behavior and noncompliance with security led to his own demise and public humiliation. He seems so pompous he will likely not change his style. Warren was quite aggravated. Mr. Flaherty is chair of this organization group and of course pays himself a large salary so I hear. I hope he engages in self-reflection and learns a lesson from this sad scene, but I doubt it.
I am all for free speech and hearing dissenting opinions but the Meeting was not the time nor place for his real message.
No. of Recommendations: 1
"Hey, I don't love Bill Gates and his associations and some of his opinions..."
Wonder if Warren, laying in bed at night, ever regrets at all his association with Mr Bill and the Gates Foundation.
The Buffett name, Berkshire Hathaway, Bill Gates and Gates Foundation will be intertwined for at least the next decade.
Warren Buffett:
"Always associate yourself with people who are better than you."
'If you lose money for the firm I will be understanding. If you lose reputation I will be ruthless.'
No. of Recommendations: 0
hard to imagine Warren doesn't regret the association with Gates.
The Epstein connection probably hasn't been fully revealed for Gates and many others. Just look at the JPMC leadership team.
Mary Erdoes (according to the WSJ) met with Epstein post conviction.
Jamie is being deposed on this matter later this month.
"According to the Journal, Mary Erdoes, who now runs JP Morgan's $4tn asset and wealth management business, visited Epstein's townhouse on Manhattan's Upper East Side in 2011 and 2013. Erdoes has previously said through a spokesperson that the only time she remembered 'formally meeting' Epstein was the day she fired him as a client."
This despite objections by JPMC's internal compliance group:
"But legal filings in the US Virgin Islands lawsuit appear to show that senior JP Morgan executives ignored pleas from compliance officers to cut ties with the financier, arguing that there was 'lots of smoke. Lots of questions'.
'See below new allegations of an investigation related to child trafficking ' are you still comfortable with this client who is now a registered sex offender?,' one compliance officer wrote in a 2010 email."
No. of Recommendations: 17
I agree with WEBspired, but I also find it in poor taste to include this guy's entire speech here. The Annual Meeting should not serve as a soap box to amplify ideas unrelated to the performance and behavior of the company itself and I'm glad they cut off his microphone. I'm not sure why they had arrest his microphone and escort it out of the meeting, but I guess that's the quality of reporting you get from outlets that cover non stories such as this.
I also want to note that it's still the Bill and MELINDA Gates Foundation, with Melinda holding the position of co-chair. The shares given to the Foundation are first converted from A shares to B shares, so the donation loses 85% of its voting power prior to being given away.
No. of Recommendations: 4
good take.
don't like brk association with gates? as munger might say, 'get off the pot' !
No. of Recommendations: 26
Is there a different board where we can post crackpot conspiracy theories?
No. of Recommendations: 57
Peter Flaherty is an idiot.
Anyone who thinks he is a reasonable voice is an idiot.
People who use words like "woke" and "CRT" when describing their opponent's views should be laughed at, not respected. His words on gender are utterly ridiculous and ignore the fact that the real world is much, much more complicated than he pretends it is. Idiot is being generous because I am pretty sure he knows better and is just playing to an audience.
Here are words of advice that are genuinely meant to be helpful. If anyone finds themselves nodding along or agreeing with what Peter Flaherty said, then you really need to get better sources of information. The ones you are using are making you look dumb and are making the word worse place. People who agree with Peter Flaherty are literally one of the biggest problems in the world. We need a better educated populace. One that can tell the difference between reality and nuttery.
As for Bill Gates, no Buffett and Berkshire do not have a Bill Gates problem. There is literally zero evidence that Bill Gates did anything wrong. Yes, Bill Gates met with Jeffery Epstein. Lots of wealthy and powerful people meant with Jeffery Epstein (including two former presidents, one from each party). That was what Jeffery Epstein did. He met with lots and lots of people, even after he was convicted (actually plea bargained, look into the details if you actually want to be outraged at a miscarriage of justice). I am sure lots and lots of people who met with Jeffery Epstein are now regretting it even though it requires 20/20 hindsight to regret. It literally would not surprise me if somewhere out in the world there is a picture of Buffett and Jeffery Epstein together. Not because they shared the same views or hobbies, but simply because they knew a lot of the same people and hung out at a lot of the same places.
However, just because a person met with Jeffery Epstein doesn't mean they slept with underage girls.
Until someone comes up with actual evidence that Bill Gates did anything wrong*** I will give him the same benefit of the doubt that everyone else gets. Bill Gates has done a lot of good in the world. Probably more than anyone else alive. I am not saying he is prefect because he isn't but slimy hit pieces from a POS like Peter Flaherty are agenda driven and not factual driven.
Warren Buffett knows Bill AND Melinda Gates far more intimately than any of us. He has had extensive and private conversations with each of them. If Buffett does not think Berkshire has a Bill Gates problem then I don't think Berkshire has a Bill Gates problem. Until there is evidence to think otherwise, I think Buffett has a much better handle on this than anyone else.
*** Yes, I know Bill Gates cheated on his wife. I am disappointed that he did so and I am quite sure he is not proud of that. However, if marital infidelity meant being excommunicated from society then there would be a lot less people participating in the public square. Heck, it is statistically likely that at least a couple of members of this forum have cheated on their spouses. Heck, even Warren Buffett doesn't have a history of what many would consider to be wholesome marriages. The fact that Bill Gates cheated on his wife does not change all of the good he has done in the world. While he might not be the best person to consult with about keeping a marriage going, it is clear he is very knowledgeable about many other things in the world.
I for one am quite glad he (and Melinda) are out there trying to make a positive difference in the world.
No. of Recommendations: 0
Laugh out loud.
Bill Gates met with Epstein multiple times AFTER he was a convicted pedo.
At his level, his security staff would have clearly known his background and debriefed Bill on the situation.
Why did Gates abruptly resign MSFT BRK boards and Melinda divorce him?
This story is not going away.
No. of Recommendations: 23
But could the 'story' go away from this board? Say move it to reddit? Thanks in advance.
No. of Recommendations: 9
Remember the frowny face is your friend!
No. of Recommendations: 11
"Bill Gates met with Epstein multiple times AFTER he was a convicted pedo.
1. Again, lots of people did.
2. Again he wasn't convicted. It was a plea bargain that made it sound much better than it was. The fact that you keep saying he was a convicted pedo shows you don't grasp the situation and are letting others take advantage of your ignorance. Please do better.
"At his level, his security staff would have clearly known his background and debriefed Bill on the situation."
I don't think you understand how it works. Just how many people do you think Buffett has on staff for such a case? Why do you think Gates is any different? Especially since Gates was running a foundation. Besides, since it was plea bargained (which you continue to willfully ignore) at the time it wasn't crystal clear he was as toxic as hindsight has shown.
"Why did Gates abruptly resign MSFT BRK boards and Melinda divorce him?"
Because he was caught cheating on Melinda (did you even read my previous post???). Spouses sometimes have a tendency to sometimes get divorced when one of them cheats.
Why not invert it. If Melinda knew he was a pedo, why does she continue to work with him on the Foundation?
"This story is not going away."
Of course not, there are always fools looking to have their ignorance taken advantage of. There is a whole web of crazy network of right wing "media" sites dedicated to doing so. Luckily most people require evidence.
Until they show you actual evidence, why continue to play the fool and let them take advantage of you like this?
No. of Recommendations: 0
Laugh out loud
Let's keep this thread going and see how this unfolds.
No. of Recommendations: 0
No. of Recommendations: 0
No. of Recommendations: 0
No. of Recommendations: 1
'' This is not going away and getting worse:''. Good morning, if Bill resigns from the board of the Gates Foundation and is replaced , it would not have any effect on the amount of brkb shares sold going forward. Bill has put Buffett in a bad, uncomfortable spot, but, it isn't that material. Happy healthy Monday to all the Vets out there and thanks for your service.
No. of Recommendations: 0
Bill Gates
Co-chair, Board Member
Connect
As co-chair of the Bill & Melinda Gates Foundation, Bill Gates shapes and approves foundation strategies, advocates for the foundation's issues, and sets the organization's overall direction. He works with grantees and partners to further the foundation's goal of improving equity in the United States and around the world.'' Perhaps it would be appropriate for Bill to step down from these roles, but again, even if he did, I don't see his decision having any impact on brkb shareholders.
No. of Recommendations: 0
No. of Recommendations: 0
"Bill has put Buffett in a bad, uncomfortable spot"
