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Photo: Johannes Eisele/Getty Images

Warren Buffett is heading to Los Angeles to reunite with longtime lieutenant Charlie Munger, showbiz-style, for Berkshire Hathaway's annual shareholder meeting Saturday.

Why it matters: At a time when many companies are taking vocal stands on social, political and environmental issues, Berkshire is bucking the trend.

  • The conglomerate faces renewed calls from large institutional shareholders to provide more disclosure on climate change and diversity and inclusion progress.
  • But Buffet recommends shareholders vote against these proposals.

What they're saying: “I don’t believe in imposing my political opinions on the activities of our businesses,” Buffett said at the 2018 shareholder meeting, per DealBook.

The state of play: California's pension system, CalPERS, is withholding votes on the reelection of members of the board’s audit and governance committees for failing to meet climate-risk disclosure demands, writes the WSJ.

  • Proxy advisers Glass Lewis and Institutional Shareholder Services also recommend investors withhold board votes.

Yes, but: The shareholder proposals aren't expected to pass, thanks in no small part to Buffet's one-third voting power, DealBook notes.

Go deeper

CEOs are finding new ways to court and communicate with retail investors

Illustration: Eniola Odetunde/Axios

As trading volume from retail investors continues to grow, public companies are finding it more important than ever to speak directly to this group.

Why it matters: Companies are bypassing middlemen to reach their intended audience and tell their stories directly. 

Updated 5 mins ago - Politics & Policy

Federal judge blocks vaccine mandate for NYC teachers

Students are dismissed from the first day of school at PS 133 in Brooklyn on Sept. 13. Photo: Michael Nagle/Xinhua via Getty Images

A federal appeals court is set to hear a challenge Wednesday to a vaccine mandate planned for New York City school employees.

Why it matters The vaccine mandate was set to begin on Monday, prompting concerns over staffing shortages in schools across the nation's largest school system. But a judge on Friday temporarily blocked the measure, per AP.

At least 3 dead after Amtrak train derails in Montana

Photo: Jacob Cordeiro/Twitter

An Amtrak train derailed near Joplin, Montana, resulting in at least three deaths and multiple injuries on Saturday, per a Liberty County Sheriff's Office statement to media outlets.

The big picture: Some 147 passengers and 13 crew were aboard the Empire Builder train, which runs from Seattle to Chicago, when five cars derailed about 4p.m., Amtrak spokesperson Kimberly Woods said in an emailed statement. The National Transportation Safety Board said it's investigating the derailment.