Last week Forbes wrote a column explaining why Warren Buffett had no say in a Bank of America shareholder vote on CEO Brian Moynihan's chairmanship despite Berkshire Hathaway's de facto position as the bank's largest shareholder from warrants it acquired when loaning the company $5 billion during a 2011 cash crunch. Because Berkshire owns billions worth of Bank of America preferred shares and Buffett is yet to exercise his common stock warrants, he isn't a voting shareholder with sway over t...
Warren Buffett Saved Media General: Don't Dismiss Berkshire In A Fight Over Its Future
Forbes - 28 Sep 2015 22:27
Last week Forbes wrote a column explaining why Warren Buffett had no say in a Bank of America shareholder vote on CEO Brian Moynihan's chairmanship despite Berkshire Hathaway's de facto position as the bank's largest shareholder from warrants it acquired when loaning the company $5 billion during a 2011 cash crunch. Because Berkshire owns billions worth of Bank of America preferred shares and Buffett is yet to exercise his common stock warrants, he isn't a voting shareholder with sway over t...
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