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Berkshire Hathaway 2011 Annual Meeting: News and Views

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AP Photo/ Mustafa Quraishi, file

The Berkshire Hathaway (BRK-A) annual meeting in Omaha is highly anticipated every year, and 2011 is no different. The subject matter, however, has centered around one particular issue -- a bit of unpleasantness regarding former executive David Sokol.

With Sokol's resignation dominating the conversation for the last month-plus, the business world was watching to see what Berkshire CEO Warren Buffett, for many people's money the greatest investor ever, would have to say about one of his ex-executives.

The Sokol matter -- in which he resigned after suggesting Berkshire buy Lubrizol (LZ), a company whose shares he had recently purchased -- has received ample treatment at the meeting, but Buffett has also tackled a number of other topics of interest, as well. For a wrap-up of some of the key stories that have emerged at this year's installment of the Berkshire meeting, read on.

IN THE HEADLINES:

* Buffett Calls Sokol Stock Purchases 'Inexcusable' - The Wall Street Journal

* Sokol's Response: Buffett's Criticism Is 'Alarming' - The New York Times

* Buffett Faults Sokol, Calls CEO Candidate 'Straight as an Arrow' - Bloomberg

* Buffett Cut Sokol Calls Short, Saying, 'We Just Shouldn't Talk' - Bloomberg

* Judgment Day - Reuters BreakingViews

* Buffett Says Mistakes Were Made in Handling Sokol - AP

* Buffett Says His Successor May Tweak Berkshire - AP

* Buffett Takes Sharper Tone in Sokol Affair - The New York Times

* Buffett: Sokol Did Violate Berkshire Rules - Fox Business (Video)

* The Berkshire Meeting by the Minute - The New York Times

* Buffett on the Dollar, Gold and Oil - The Wall Street Journal

* Berkshire May Have Underwriting Loss on Disasters - Bloomberg

* Berkshire 1Q Profit Drops on Insurance Losses - AP

FROM TWITTER:

* @Morgan_03 - I just don't care what Buffet & Co have to say. He's worth billions, so what if he has $100k salary. Am I jaded?

* @Convertbond - It's very clear to me, Ajit Jain will be the next CEO of Berkshire Hathaway #Berkshire #BRK2011

* @beckyquickcnbc by @Convertbond Munger @ #BRK2011: Hedge fund operators of America get much lower tax rate than physics profs or taxi drivers. "That's demented."

* @BloombergNow - Berkshire Stock Would Fall on Dividend Offer, Buffett Says http://bloom.bg/jKsHDN $BRK/A

* @LWinthorpe - Uncle Warren piling on the "USD is trash train?"... No way he can end looking silly twice in the span of few days, is there?

* @PoppyHarlowCNN by @Convertbond - #WarrenBuffett tells me there are no big risks to US economy...and says US leaders are doing a "decent" job http://bit.ly/iB42FA #CNNMoney

* @lecreative by @jennablan - Error? Please! How 'bout colossal lack of judgment! RT @jennablan: Buffett admits error in Sokol affair http://tinyurl.com/3z66ddf

ON THE BLOGS:

* Warren Buffett Does MMT - Pragmatic Capitalism

* Sokol vs Sokal - Paul Kedrosky, Infectious Greed

* Warren Buffett: We're Looking at Two Deals But Won't Stretch for a 'Really Big Elephant' - Warren Buffett Watch, via CNBC

* Warren Buffett's Latest Berkshire Hathaway Shareholder Letter — Thro Poker (and PR) Lenses - TexasHoldemInvesting.com

* Warren Buffett on David Sokol: 'No Question' He Misled Me - Deal Journal, via The Wall Street Journal

* Buffett Hearts Berkshire's Ajit Jain - Deal Journal, via The Wall Street Journal

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