Each year, on the first Saturday in May, tens of thousands of shareholders descend on Omaha, Neb., to attend the Berkshire Hathaway shareholder’s meeting and hear pearls of investing wisdom from Warren Buffett, (a.k.a. the “Oracle of Omaha”) and his partner Charlie Munger. As part of the meeting, Berkshire companies host exhibit booths where shareholders can purchase such items as T-shirts and undergarments from Fruit of the Loom; get insurance quotes from GEICO; buy sets of GINZU knives or purchase kitchen utensils from Papered Chef.
Throughout the day at the Dairy Queen® booth, shareholders come to us to purchase Dilly® Bars, DQ® Fudge Bars and DQ Vanilla Orange Bars for $1 with proceeds from the sale going to Children’s Miracle Network Hospitals. Our team of more than 40 employees, including our executive officers, provides hungry, but smiling customers with satisfying and delicious DQ treats. Typically we sell more than 16,000 individual treats in a little more than nine hours and this year was no exception. We often hear, “I can’t leave the meeting without getting my Dilly Bar” which always puts a smile on our faces.
The day is long, but we couldn’t have a better time greeting and interacting with the shareholders. And oh yeah, Warren stops by the booth before the meeting begins to purchase his favorite DQ Vanilla Orange Bar, which we have ready and waiting for him. At DQ, our investment philosophy is, “Always make sure the boss is happy.” And when you’re Warren Buffett and own the entire Dairy Queen system, how could you not be?