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Berkshire Hathaway Braces For Protesters at Annual Meeting (BRK/A, PTR)

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By Douglas A. McIntyre Published
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Berkshire Hathaway (BRK/A-NYSE) will have a new issue to deal with at its annual meeting this weekend.  It will have protesters outside calling for Berkshire Hathaway to sell its 1.1% stake in PetroChina (PTR-NYSE), whose parent (China National Petroleum) operates in Sudan.  By operating in Sudan it is tossed in with the pro-genocide camp by “using capitalism as an endorsement.”

The company in the past has defended its stake by noting that there is confusion about its parent’s involvement in Sudan.  Some groups believe that PertoChina has been in support of the government there.  Other pensions have sold stakes in an anti-Sudanese support movement.

The company made a statement back in February due to the controversial coverage and you can read that here at their website.  Warren Buffett is a hard man to criticize based on his last Billions of dollar giveaway announcement, but you have to wonder if they will decide to throw in the towel here for greener or less controversial pastures.

Jon C. Ogg
May 4, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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