Warren Buffett, Charlie Munger spotlight economic realities in defending job cuts, housing firm
BRENDAN SULLIVAN/THE WORLD-HERALD
Berkshire Hathaways Clayton Homes subsidiary has faced allegations of predatory lending, but Berkshire CEO Warren Buffett shown here Saturday at the Clayton display at the CenturyLink Center defended the manufactured-housing company during Berkshires annual shareholders meeting, saying, Im proud of the Clayton management.
http://www.omaha.com/money/warren-buffett-charlie-munger-spotlight-economic-realities-in-defending-job/article_2b3bf215-0138-5ac4-b804-3de5eded2368.html
POSTED: SATURDAY, MAY 2, 2015 1:00 AM
By Steve Jordon / World-Herald staff writer
Foreclosures, layoffs, plant closings, labor disputes the difficulties of capitalism came through clearly Saturday alongside the hoopla of celebrating Warren Buffetts 50 years of leading Berkshire Hathaway Inc.
It was a lesson in economic reality for Berkshire shareholders gathered in Omaha and relayed to anyone else hearing accounts of the meeting.
That includes workers let go at H.J. Heinz Co. plants, people defaulting on their mortgages for Berkshire-built manufactured homes and the 300 pilots at the CenturyLink Center who demonstrated their unions viewpoint in negotiations with Berkshires NetJets division.
Chairman and CEO Buffett and Vice Chairman Charlie Munger were unapologetic about business managers need to make tough decisions.
FULL story at link.