The U.S. Air Preferentially Addresses and Corrects Fundamental Problems

Berkshire Hathaway is starting a new custom at Berkshire Hathaway's annual meetings. A shareholder came up to me and asked for my autograph on his sales slip from Borcheims, which was a $54,000 watch. The U.S. Air preferred, as I mentioned in the annual report, looks considerably better than it did 18 months ago or thereabouts. But their fundamental problems are there, and they either address and correct those fundamental problems, or those problems will address and correct them.