Buffett criticizes United and its CEO over dragging incident

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The 86-year-old CEO and his 93-year-old partner have been leading the conglomerate for more than five decades, but the crowd is always listening for new nuggets of wisdom.

He said some of Berkshire's industrial units saw upticks in business this year, as have credit card companies such as Visa Inc V.N and American Express Co AXP.N , a longtime Berkshire investment. "You can tell us apart, because he can hear and I can see".

Trump's proposed tax plan is expected to cut corporate tax to 15 percent - "to the benefit of shareholders" as Buffett put it - and the new Republican healthcare bill would also repeal most of the taxes that paid for the Obamacare, or as it is formally known, the Affordable Care Act.

Buffett, 86, said that gross domestic product per person in the USA is six times higher now than when he was born, reiterating his optimism about the nation's ability to generate wealth.

Buffett had harsh words for Wells Fargo & Co managers who failed to respond promptly to a sales practices scandal that cost the then-chief executive officer his job previous year. "That is a problem this society is having trouble with and is going to have more trouble with".

The scandal has spurred millions of dollars in fines and legal costs and dented Wells Fargo's standing as one of the country's best-run banks.

"We should try to hit both objectives, to make sure there is not roadkill and 320 million people get the benefits of free trade", Buffett said.


Warren Buffett has said itbefore: He does not like the structure of financial helper fees.

"Every year it seems I have to come earlier", said Chris Tesari, a retired businessman from Pacific Palisades, California who said he arrived at 3:20 a.m. for his 21st meeting. But, he quipped, "that's because we've got more good companies".

Other recent Berkshire subsidiary CEO turnovers include Cathy Baron Tamraz, who retired as CEO of press-release distributor Business Wire Inc., and was succeeded by Geff Scott.

After profusely praising Amazon chief Jeff Bezos, Buffett said he missed that opportunity as well.

"That's cost people a lot of money at Berkshire", he said. I know a lot of the challenges, " he said in an interview. "I'm looking forward to hearing him as much as everybody else".

Seven Berkshire subsidiaries that collectively employ more than 46,000 people announced changes in chief executive officers in the a year ago, an unusually high amount of turnover at a company that rarely has top executives leave.

Shareholder Jerry Meyer said the exhibits are a neat way to learn about Berkshire and boost investor enthusiasm.

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