Despite Warren Buffett’s frequent advocacy of political causes such as reproductive rights and gender equality, the company he runs has largely stayed away from the political fray. But, that hasn’t stopped a pair of shareholder advisory firms from asking shareholders to approve a proxy measure that increases disclosures in the political spending of the company.
Berkshire’s Board of Directors has stated that the parent company of Berkshire Hathaway has never made a political contribution and that taken as a whole, its subsidiaries make few contributions as well. The Board cited the figure for subsidiary donations as 0.1% of annual spend – which would equate to a figure close to $200 million a year. It is likely that most of this spending is the result of the need for politically sensitive utility and railroad units to lobby federal and local government entities.
Shareholders will have a chance to vote on the proposal at this Saturday’s Annual Meeting of Shareholders.
more recommended stories
Wells Fargo Fires Head of Consumer Lending
In a sign of just how.
Berkshire Hathaway Adds Again to Apple Stake, Trims IBM
In a new 13-F filings with.
Senators Seek to Ease Financial Regulations
Since post-financial crisis regulations were put.
General Electric Refocuses in the Wake of Investor Dissapointment
In May of 1896 the Wall Street.
A Disgraced Harvey Weinstein and a Business Empire in Tatters
It was only a brief time.
Under the Hood of Berkshire Hathaway’s Pilot/Flying J Purchase
Berkshire Hathaway announced last week that.
GE Sells Industrial Solutions Business as New CEO Marks New Direction
General Electric announced that it reached.
Disney’s New Streaming Service Requires Patience From Investors
Disney has decided to take its.
Tronc Picks Up New York Daily News
Mort Zuckerman’s twenty-five-year ownership of the.
Gilead Finally Pulls Trigger on Acquisition
Working through growth concerns, biotechnology company.