* Nearly 40,000 shareholders descend on Omaha
* Buffett will lead an all-day Q&A session
* Tosses newspapers and stops for a "dilly bar"
By Ben Berkowitz
OMAHA, Neb., May 5 Berkshire Hathaway
opened its annual shareholder meeting on Saturday with
Chief Executive Warren Buffett doing what any CEO would do for
shareholders -- singing with cheerleaders and tossing newspapers
in a contest against local kids.
As many as 40,000 shareholders have descended on Omaha for
the event pegged as the "Woodstock for Capitalism," and Buffett
did not disappoint with his pre-meeting walk around on the floor
of the local convention center.
Besides his typical stops for a Coke and a Dairy Queen
orange-flavored ice cream bar, Buffett took part in a newspaper
tossing contest at the Omaha World-Herald booth (having bought
the newspaper recently).
Security was tight, as changes this year to minimize the
crowds swarming Buffett had little to no effect. At one point,
Buffett's main bodyguard had to stop a woman who tried to rush
up to him and hand him a book. (The same bodyguard later patted
down a Reuters reporter).
The meeting will open later Saturday morning, as it does
every year, with an original movie, followed by hours of
questions and answers from shareholders, journalists -- and for
the first time this year, a panel of Wall Street analysts.