Buffett criticizes United and its CEO over dragging incident

– On May 4, Warren Buffett said Berkshire Hathaway had sold about 25 million shares in International Business Machines.

“So it is a huge tax cut for guys like me”, he said, according to Reuters.

‘That is a problem this society is having trouble with and is going to have more trouble ” added Buffett, who’s previously funded Republican candidates but threw his support behind Democratic presidential candidate Hillary Clinton previous year.

Buffett defended 3G Capital, its partner on purchases including Kraft Heinz Co KHC.O and an unsuccessful bid to merge it with Unilever NV ULVR.L UNc.AS , and which is known for slashing thousands of jobs to make companies more efficient.

High average occupancy has kept prices from rising, Buffett said.

We tend to agree with Mr. Buffett and we’re not alone.

The billionaire has long said that he plans to work for as long as possible, and while he has identified successors for his roles as Berkshire’s chairman and top stock picker, he has not said who would actually run the company.

Buffett said a CEO’s natural tendency is to first defend his employees, but that should not have been the case if Munoz had seen the video. “In only two years, you’ll be eligible for an executive position at Berkshire”, Buffett quipped.

Buffett said the bloody removal of a 69-year-old passenger from a United Express plane in Chicago was obviously “a awful mistake”.

The conglomerate also ended the quarter with roughly $96.5 billion of cash, equivalents and Treasury bills, a record sum and enough for one or more major acquisitions.

Warren Buffett, who controls the largest stake in Wells Fargo & Co., said Saturday that the bank mishandled its fraudulent-accounts scandal by failing to act promptly to fix abuses that tarnished the lender’s reputation and made it harder to attract customers.

Berkshire said its revenue jumped to $65.2 billion from last year’s $52.2 billion.

Berkshire owns Geico and General Reinsurance as well as a number of specialized insurers that handle malpractice, worker’s compensation and other businesses.

“They actually have to do something”, Buffett said.

For instance, at the regulated utilities Berkshire owns, any benefit from a tax cut will be passed on to customers through lower rates.

“Whether it’s a better tax system or not depends on how it’s constructed”, he said. The annual meeting offers one of the few times Weber gets to hear Buffett discuss other topics.

When Warren Buffett was asked why he’s not buying Amazon shares, the billionaire investor had a simple answer.

Buffett admitted he had the intel to understand Google’s potential for growth early on.