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Berkshire Hathaway Inc on Saturday defended its $8 billion proposal to build natural gas plants in Texas to help reduce the threat of devastating blackouts such as those in February.
“When you look at the power sector (in Texas), it fundamentally let the citizens down,” Greg Abel, a Berkshire vice chairman and previously chief executive of Berkshire Hathaway Energy, said at the conglomerate’s annual shareholder meeting.
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“We’ve gone to Texas with what we believe is a good solution,” he added. “The health and welfare of Texas was at risk, and we needed to effectively have an insurance policy in place for them.”
Berkshire defends $8 billion Texas power proposal to combat blackouts
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Berkshire annual meeting to showcase Munger as he rejoins Buffett - Netscape Money & Business
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Berkshire annual meeting to showcase Munger as he rejoins Buffett Jonathan Stempel ,
By Jonathan Stempel
(Reuters) - Berkshire Hathaway Inc s widely anticipated annual meeting on Saturday will be held virtually for a second year but reclaim one bit of normalcy as Charlie Munger rejoins fellow billionaire Warren Buffett to answer shareholder questions.
The meeting gives Buffett, 90, and Munger, 97, a stage to explain over 3-1/2 hours what to expect from Berkshire s dozens of businesses, markets and the economy, and whether the company will continue aggressive share repurchases.
Still, with no shareholders in attendance, it will be shorn of the festivities that normally draw about 40,000 annually to Omaha, Nebraska for what Buffett calls Woodstock for Capitalists.
Berkshire annual meeting to showcase Munger as he rejoins Buffett
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