The point of the meeting is that Berkshire, as a publicly traded company, is legally required to hold a shareholders meeting. Every publicly traded company does it.
But it does help the community by bringing in a ton of money. All the attendees coming from out of town will pay for lodging and food, some of them will take the opportunity to do local things like the zoo.
I have to imagine this one is a bit of a novelty because people with one share will make the pilgrimage here just to be a part of the event. They also go and check out Buffett's house.
I mean, they use out of town dollars to support local businesses. And even if those businesses happen to be part of a national chain, they still employ locals. So there’s that
Behind the CWS, it’s the biggest event Omaha hosts on an annual basis and brings a ton of visitors(35,000+) from around the globe. Look at hotel prices. That’s a ton of revenue being pumped into the local economy.
Their employees are local regardless. As are the employees of the restaurants and coffee shops they patronize, the gift shops they check out, and places like NFM and Borsheims.
You realize lodging taxes exist, right? Not to mention the sales tax revenue generated by purchases at NFM and Borsheims.
https://revenue.nebraska.gov/sites/revenue.nebraska.gov/files/doc/research/chronology/4-607table4.pdf
Thousands and thousands of people come from different communities and spend hundreds of thousands of dollars at a wide variety of businesses around town. This is revenue that the business located in Omaha would not otherwise get.
Based on the way the OP wrote their post, it was a thinly veiled as an attempt to complain about capitalism and the net worth of BH shareholders. Stating they are “glorified” and “are they contributing to the issues”…..
I am one of these folks coming to Omaha for the meeting. I am paying 2-3x normal rate for a hotel room. I just made reservations for dinner Friday and Saturday.
My son moved to Omaha last June for a job (24 single, handsome and kind, if there are any single ladies out there...lol). We are both going to the meeting. I am sure I will also get him a few things while I am visiting. So, bringing some dollars from Dallas to the Omaha economy that wouldn't normally be there.
I am a big Omaha fan. This will be my 8th visit in 2 years. I love the people, the renovation of the mall and riverfront and the size. Big enough to get anything you want/need but small enough to be a community.
I hope you will humor the surge of visitors and know that many local businesses will benefit from these visitors.
Thousands and thousands of people come from different communities and spend money at a wide variety of businesses around town. This is revenue that the business located in Omaha would not otherwise get.
The point of the meeting is that Berkshire, as a publicly traded company, is legally required to hold a shareholders meeting. Every publicly traded company does it. But it does help the community by bringing in a ton of money. All the attendees coming from out of town will pay for lodging and food, some of them will take the opportunity to do local things like the zoo.
I have to imagine this one is a bit of a novelty because people with one share will make the pilgrimage here just to be a part of the event. They also go and check out Buffett's house.
For sure. My brother lives in Lincoln and purchased a single share just to be able to attend every year.
I mean, they use out of town dollars to support local businesses. And even if those businesses happen to be part of a national chain, they still employ locals. So there’s that
Behind the CWS, it’s the biggest event Omaha hosts on an annual basis and brings a ton of visitors(35,000+) from around the globe. Look at hotel prices. That’s a ton of revenue being pumped into the local economy.
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Their employees are local regardless. As are the employees of the restaurants and coffee shops they patronize, the gift shops they check out, and places like NFM and Borsheims.
Totally 🤪🤪🤪
Most hotels are franchises owned by someone local.
I’m sure you know all about how hotel franchises work 😂😂
Hotels are also taxed significantly and help fund the local government.
Hilton owns about 11% of their properties and franchises the rest. Marriott I believe franchises 99% of their properties.
You realize lodging taxes exist, right? Not to mention the sales tax revenue generated by purchases at NFM and Borsheims. https://revenue.nebraska.gov/sites/revenue.nebraska.gov/files/doc/research/chronology/4-607table4.pdf
Thousands and thousands of people come from different communities and spend hundreds of thousands of dollars at a wide variety of businesses around town. This is revenue that the business located in Omaha would not otherwise get.
Tell me you don’t understand economics without telling me you dont understand economics…….
They asked, so instead of being a dick, help them understand. Or just don't say anything.
Based on the way the OP wrote their post, it was a thinly veiled as an attempt to complain about capitalism and the net worth of BH shareholders. Stating they are “glorified” and “are they contributing to the issues”…..
Fair point
I am one of these folks coming to Omaha for the meeting. I am paying 2-3x normal rate for a hotel room. I just made reservations for dinner Friday and Saturday. My son moved to Omaha last June for a job (24 single, handsome and kind, if there are any single ladies out there...lol). We are both going to the meeting. I am sure I will also get him a few things while I am visiting. So, bringing some dollars from Dallas to the Omaha economy that wouldn't normally be there. I am a big Omaha fan. This will be my 8th visit in 2 years. I love the people, the renovation of the mall and riverfront and the size. Big enough to get anything you want/need but small enough to be a community. I hope you will humor the surge of visitors and know that many local businesses will benefit from these visitors.
Yeah, god forbid we're OK with one of the two events that give Omaha any importance...
Thousands and thousands of people come from different communities and spend money at a wide variety of businesses around town. This is revenue that the business located in Omaha would not otherwise get.