巴菲特致股东的信（2000年）⑩股东指定捐赠计划⑪年度股东大会

Shareholder-Designated Contributions

About 97% of all eligible shares participated in Berkshire's 2000 shareholder-designated contributions program, with contributions totaling $16.9 million. A full description of the program appears on pages 74-75.

股东指定捐赠计划

大约有 97%的有效股权参与 2000 年的股东指定捐赠计划，捐出的款项总计约 1690 万美元，有关本计划详细的信息请参阅附录。

Cumulatively, over the 20 years of the program, Berkshire has made contributions of $164 million pursuant to the instructions of our shareholders. The rest of Berkshire's giving is done by our subsidiaries, which stick to the philanthropic patterns that prevailed before they were acquired (except that their former owners themselves take on the responsibility for their personal charities). In aggregate, our subsidiaries made contributions of $18.3 million in 2000, including in-kind donations of $3 million.

累计过去 20 年以来，伯克希尔总计已依照股东意愿捐赠出高达 1.64 亿美元的款项，除了之外，伯克希尔还通过旗下的子公司进行捐赠，而这些慈善活动都是早在他们被我们并购以前就进行多年(先前的老板自行本身负责的个人捐赠计划之外除外)，总的来说，我们旗下的关系企业在 2000 年总计捐出 1,830 万美元，其中包含 300 万美元等值的物品。

To participate in future programs, you must own Class A shares that are registered in the name of the actual owner, not the nominee name of a broker, bank or depository. Shares not so registered on August 31, 2001 will be ineligible for the 2001 program. When you get the contributions form from us, return it promptly so that it does not get put aside or forgotten. Designations received after the due date will not be honored.

想要参加这项计划者，必须拥有 A 级普通股，同时确定您的股份是登记在自己而非股票经纪人或保管银行的名下，同时必须在 2001 年 8 月 31 日之前完成登记，才有权利参与 2001 年的捐赠计划，当你收到表格后，请立即填写后寄回，以免被丢在一旁给忘记了，逾期恕不受理。

The Annual Meeting

Last year we moved the annual meeting to the Civic Auditorium, and it worked very well for us. We will meet there again on Saturday, April 28. The doors will open at 7 a.m., the movie will begin at 8:30, and the meeting itself will commence at 9:30. There will be a short break at noon for food, with sandwiches available at the Civic’s concession stands. Except for that interlude, Charlie and I will answer questions until 3:30.

年度股东大会

去年我们将股东年会举办的地点移到市政礼堂，结果令人相当满意，今年 4 月 28 号周六我们将再度在这里聚会，大门会在当天早上 7 点开放，同时电影短片照例会在 8 点半播放，正式会议则从 9 点半开始，扣除中午短暂的休息时间，(会场外备有三明治等各类点心)，除了中午休息时间外，查理跟我本人会在现场回答大家各类问题直到下午 3 点半为止。

For the next couple of years, the Civic is our only choice. We must therefore hold the meeting on either Saturday or Sunday to avoid the traffic and parking nightmare that would occur on a weekday. Shortly, however, Omaha will have a new Convention Center with ample parking. Assuming that the Center is then available to us, I will poll shareholders to see whether you wish to return to a Monday meeting. We will decide that vote based on the wishes of a majority of shareholders, not shares.

在未来几年内，市政礼堂将是我们唯一的选择，而为了解决交通与停车问题，我们只能在周六或周日举行，以避开平日的交通阻塞，所幸在不久之后，奥马哈将会有一个大型的新会议中心落成，拥有宽敞的停车场，等到这个会议中心完成之后，我会再发问券询问大家将会议时间改回周一的看法，届时我们将以股东投票人数而非股权比例来决定。

An attachment to the proxy material that is enclosed with this report explains how you can obtain the credential you will need for admission to this year’s meeting and other events. As for plane, hotel and car reservations, we have again signed up American Express (800-799-6634) to give you special help. In our normal fashion, we will run buses from the larger hotels to the meeting. After the meeting, the buses will make trips back to the hotels and to Nebraska Furniture Mart, Borsheim's and the airport. Even so, you are likely to find a car useful.

后面附有股东会开会投票的相关资料，向各位解释如何拿到入场所许的识别证，由于预期会有相当多的人与会，我们建议大家最好先预定机位与住宿，美国运通(电话 800-799-6634)将会很高兴为您提供相关安排服务，如同以往，我们会安排巴士接送大家往返各大旅馆与会场之间，并在会后接送大家到内布拉斯加家具店与波仙珠宝店或是到饭店与机场，当然你可能会觉得如何有一辆车会更方便。

We have added so many new companies to Berkshire this year that I’m not going to detail all of the products that we will be selling at the meeting. But come prepared to carry home everything from bricks to candy. One new product, however, deserves special note: Bob Shaw has designed a 3 x 5 rug featuring an excellent likeness of Charlie. Obviously, it would be embarrassing for Charlie ¾ make that humiliating ¾ if slow sales forced us to slash the rug’s price, so step up and do your part.

今年由于我们又新加入了许多公司，所以我就不再详细说明在现场会提供什么产品供大家选购，总之从糖果到砖块应有尽有，不过有一项新产品值得特别向各位推荐，那就是 Bob Shaw 专门以查理的形貌所设计 3x5 的地毯，很显然的若这款地毯销售情形不佳而迫使我们降价的话，查理的面子可能会挂不住，所以请大家千万响应支持他。

GEICO will have a booth staffed by a number of its top counselors from around the country, all of them ready to supply you with auto insurance quotes. In most cases, GEICO will be able to offer you a special shareholder's discount (usually 8%). Bring the details of your existing insurance and check out whether we can save you some money.

GEICO 保险公司会再度派出各地区最优秀的业务员，在会场设立摊位，随时提供股东们汽车保单的报价，在大多数的情况下，GEICO 保险都可以提供给你一个相当优惠的股东折扣(大约 8%)，各位记得将自己现在的投保资料带来，看看是否能帮自己省下一笔钱。

At the Omaha airport on Saturday, we will have the usual array of aircraft from Executive Jet available for your inspection. Just ask an EJA representative at the Civic about viewing any of these planes. If you buy what we consider an appropriate number of items during the weekend, you may well need your own plane to take them home.

周六在奥马哈机场，我们仍将展示一系列的机队供大家参观，请到市政礼堂向 EJA 的业务代表洽询参观的事宜，如果你股东会买了一大推相关产品，我相信你一定也需要用自己的飞机把它们带回家。

At Nebraska Furniture Mart, located on a 75-acre site on 72nd Street between Dodge and Pacific, we will again be having "Berkshire Weekend" pricing, which means we will be offering our shareholders a discount that is customarily given only to employees. We initiated this special pricing at NFM four years ago and sales during the "Weekend" grew from $5.3 million in 1997 to $9.1 million in 2000.

位于道奇街与太平洋街的内布拉斯加家具店，再度会有伯克希尔周特价，我们将特别提供给股东原先只有员工可以享有的优惠价，我们在四年前首次推出这种促销活动，营业额更一举从 1997 年的 530 万美元成长到 2000年的 910 万美元。

To get the discount, you must make your purchases between Wednesday, April 25 and Monday, April 30 and also present your meeting credential. The period’s special pricing will even apply to the products of several prestige manufacturers that normally have ironclad rules against discounting but that, in the spirit of our shareholder weekend, have made an exception for you. We appreciate their cooperation. NFM is open from 10 a.m. to 9 p.m. on weekdays and 10 a.m. to 6 p.m. on Saturdays and Sundays.

想要享有折扣记得在 4 月 25 日周三到 4 月 30 日周一间采购，并出示股东识别证，在这期间的特卖活动也适用于许多原本从不打折的顶级品牌，这可是为了股东会才特别破例，我们很感谢他们的配合，内布拉斯加家具店的营业时间平日从早上 10 点到下午 9 点，周六及周日则从早上 10 点到下午 6 点。

Borsheim's ¾ the largest jewelry store in the country except for Tiffany's Manhattan store ¾ will have two shareholder-only events. The first will be a cocktail reception from 6 p.m. to 10 p.m. on Friday, April 27. The second, the main gala, will be from 9 a.m. to 5 p.m. on Sunday, April 29. Shareholder prices will be available Thursday through Monday, so if you wish to avoid the large crowds that will assemble on Friday evening and Sunday, come at other times and identify yourself as a shareholder. On Saturday, we will be open until 6 p.m. Borsheim's operates on a gross margin that is fully twenty percentage points below that of its major rivals, so the more you buy, the more you save (or at least that’s what my family always tells me).

波仙珠宝的全美单店营业额仅次于纽约曼哈顿蒂芙尼的珠宝店，在股东会期间将会有两场专为股东举办的展览会，第一场是在 4 月 27 日周五的鸡尾酒会，时间从下午 6 点到晚上 10 点，第二场大型售卖活动则在 4 月 29日周日从早上 9 点到下午 6 点。从周四到下周一的股东会期间，波仙都将提供股东特惠价，所以如果你希望避开周五晚上到周日的拥挤人潮，你可以在其它的时间上门光顾，记得表明股东的身份，周六会营业到晚上 7 点，波仙的经营毛利要比其它主要竞争对手要低 20%以上，所以买得越多省得越多，这是我的家人告诉我的。

In the mall outside of Borsheim's, we will have local bridge experts available to play with our shareholders on Sunday. Bob Hamman, who normally is with us, will be in Africa this year. He has promised, however, to be on hand in 2002. Patrick Wolff, twice U.S. chess champion, will also be in the mall, taking on all comers ¾ blindfolded! Last year, Patrick played as many as six games simultaneously ¾ with his blindfold securely in place ¾ and demolished his opponents.

照例在周日下午波仙珠宝店外面大厅将举办的一场桥牌大赛，桥牌界的传奇性人物 Bob Hamman，由于今年要到非洲所以无法出席，不过他已经承诺 2002 年一定会再度出席。国际象棋两度冠军 Patrick Wolff，也会再度在会场蒙眼与所有挑战者对奕，去年他一口气同时与六位对手下棋，并获得全胜。

As if all this isn’t enough to test your skills, our Borsheim’s Olympiad this year will also include Bill Robertie, one of only two players to twice win the backgammon world championship. Backgammon can be a big money game, so bring along your stock certificates.

如果你认为这还不够看，今年的波仙奥林匹亚棋艺大赛将新增世界双陆旗两度冠军 Bill Robertie，双陆旗的赌注通常都不小，所以记得把你的伯克希尔股票带来。

Gorat's ¾ my favorite steakhouse ¾ will again be open exclusively for Berkshire shareholders on Sunday, April 29, and will be serving from 4 p.m. until 10 p.m. Please remember that you can't come to Gorat's on Sunday without a reservation. To make one, call 402-551-3733 on April 2 (but not before). If Sunday is sold out, try Gorat's on one of the other evenings you will be in town. If you order a rare T-bone with a double order of hash browns, you will establish your credentials as an epicure.

我个人最爱的 Gorat's 牛排馆为了伯克希尔股东年会破例在 4 月 29 日周日开门营业，从下午 4 点开始营业，一直到晚上 10 点，请记得周日事先若没有订位的人请勿前往以免向隅，要预约请在 4 月 2 日以后打电话(402-551-3733)，若订不到周日的位子，也可以试试其它晚上，如果你点的是丁骨牛排加上双份的牛肉丸的话，你就有资格被称作是美食家。

The usual baseball game will be held at Rosenblatt Stadium at 7 p.m. on Saturday night. This year the Omaha Golden Spikes will play the New Orleans Zephyrs. Ernie Banks is again going to be on hand to ¾ bravely ¾ face my fastball (once clocked at 95 mpm ¾ miles per month).

例行的棒球赛将于周六晚上 7 点在 Rosenblatt 体育馆举行，今年奥马哈金钉鞋队将对上纽奥良西风队，RrnieBanks 将再度勇敢地站上打击区面对我的快速球(据说球速约在 95 英里/月)。

My performance last year was not my best: It took me five pitches to throw anything resembling a strike. And, believe me, it gets lonely on the mound when you can’t find the plate. Finally, I got one over, and Ernie lashed a line drive to left field. After I was yanked from the game, the many sports writers present asked what I had served up to Ernie. I quoted what Warren Spahn said after Willie Mays hit one of his pitches for a home run (Willie’s first in the majors): "It was a helluva pitch for the first sixty feet."

去年我的表现未达最佳状态，我投了五次才勉强丢出一记好球，相信我，当你在投手丘上却找不到本垒板时的感觉有多孤单，最后我勉强挤出一记好球，Ernie 将之击到左外野，在我被拉出球场后，许多运动记者问我对上 Ernie 时作何感想？我引述Warren Spahn 在被 Willie Mays 击出全垒打时所说的话(那是 Willie 大联盟的第一发全垒打)：”这真是一个好的开始。”

It will be a different story this year. I don’t want to tip my hand, so let’s just say Ernie will have to deal with a pitch he has never seen before.

今年的剧情将会不太一样，我将不会再透露我的球路，我只能说 Ernie 今年要面对的将是与以往截然不同的球路。

Our proxy statement contains instructions about obtaining tickets to the game and also a large quantity of other information that should help you enjoy your visit in Omaha. There will be plenty of action in town. So come for Woodstock Weekend and join our Celebration of Capitalism at the Civic.

股东会资料将告诉大家如何取得球赛入场的门票，以及大量有关奥马哈的旅游资讯，股东会期间将有许多活动，所以一定要来参加资本家的伍斯达克嘉年华会。

Warren E. Buffett
Chairman of the Board
February 28, 2001

沃伦.巴菲特
董事会主席
2001年2月28日