Warren's Piece: Curtail Options, Watch Out for Asbestos Litigation

Editor's note: This is the second of two columns on the Berkshire Hathaway annual meeting in Omaha today. To read the first column, click here.

OMAHA, Neb. -- In the second half of the Berkshire Hathaway (BRK.A Quote) annual meeting Saturday, Chairman Warren Buffett and Vice Chairman Charlie Munger served up tart-tongued critiques of stock-option plans and weighed in on the toll of asbestos litigation on corporate America.

The morning's overflow crowd ebbed a bit in the afternoon, with many seeking bargains from the 20-plus Berkshire subsidiaries peddling their wares in the adjacent exhibit hall or at nearby Borsheim's or Nebraska Furniture Mart. But from the auditorium stage, Buffett and Munger played on with vigor. ...