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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. 

CDC says fully vaccinated people don't have to wear masks indoors

CDC Director Rochelle Walensky. Photo: Erin Clark-Pool/Getty Images

The CDC announced in new guidance Thursday that anyone who is fully vaccinated can participate in indoor and outdoor activities without wearing a mask or physically distancing, regardless of crowd size.

What they're saying: "If you are fully vaccinated, you are protected, and you can start doing the things that you stopped doing because of the pandemic," CDC Director Rochelle Walensky will say at a White House press briefing.

Colonial Pipeline reportedly paid hackers nearly $5 million in ransom

Photo: Logan Cyrus/AFP via Getty Images

Colonial Pipeline paid hackers linked to the DarkSide cybercrime group nearly $5 million in cryptocurrency after last week's ransomware attack, Bloomberg first reported and the New York Times confirmed.

Why it matters: The breach of the largest refined fuels pipeline in the U.S. triggered new concerns about the vulnerability of the country's increasingly digitized energy systems.