ClaimsWarren Buffett

“WELL, IN CERTAIN COUNTRIES THEY HAVE VARIOUS WAYS OF WORKERS PARTICIPATING.”

Warren Buffett, Berkshire chairman and CEO 21 July 2016 CNBC Transcript: Buffett speaks with Squawk Box (2016) (CNBC) archived copy

Factual Philosophy, ethics and society

In certain countries there are various ways for workers to participate in company governance.

Resolved true The record shows it happened or was so.

Factual: Statements about the present or the past, checked against the record: did they hold up?

The second judge would not resolve this claim; the verdict shown is the first judge's.

What would count as true or false

True: reliable sources show that at least two countries have legally or institutionally established ways for workers to take part in company governance (for example, German codetermination with board seats and works councils, or Nordic board representation), and that these mechanisms differ in form. Mostly true: there are such mechanisms in several countries, but they are described loosely. Mixed or mostly false would apply only if such mechanisms exist in just one country, or only nominally. False: no country has any such mechanism.

Set before the research began.

Evidence (8)

  1. E1 Rules on staff representation verwaltung.bund.de (German federal administration service portal) · 14 December 2022

    “Employees have the right to elect representatives to the supervisory boards of these companies, where they are able to participate in the company’s decision-making processes.”
  2. E2 Rules on staff representation verwaltung.bund.de (German federal administration service portal) · 14 December 2022

    “Employees of companies with 500 or more employees have the right to elect one third of the members of the supervisory board of a share capital company (One-Third Participation Act [Drittelbeteiligungsgesetz]).”
  3. E3 Rules on staff representation verwaltung.bund.de (German federal administration service portal) · 14 December 2022

    “Employees of companies with 2 000 or more employees have the right to elect half of the members of the supervisory board of a share capital company (Co-determination Act [Mitbestimmungsgesetz]).”
  4. E4 Rules on staff representation verwaltung.bund.de (German federal administration service portal) · 14 December 2022

    “A works council or staff committee must be formed of at least five employees over the age of 18, at least three of whom must have worked for the company or the department for at least 6 months.”
  5. E5 Involvement of Employees in Private Enterprises in Four Nordic Countries Stockholm Institute for Scandinavian Law (author: Örjan Edström)

    “In Denmark and Norway Co-operation Councils or Works Councils are established through collective agreements, and in the agreements there are regulations for workers”
  6. E6 Involvement of Employees in Private Enterprises in Four Nordic Countries Stockholm Institute for Scandinavian Law (author: Örjan Edström)

    “In all the Nordic countries dealt with in this article there is legislation giving the employees the right to representation in joint stock company boards as well as at the boards of other company associations.”
  7. E7 Involvement of Employees in Private Enterprises in Four Nordic Countries Stockholm Institute for Scandinavian Law (author: Örjan Edström)

    “The number of workers’ representatives shall correspond to half the number of the members elected by the General Assembly, but a minimum figure is two”
  8. E8 Involvement of Employees in Private Enterprises in Four Nordic Countries Stockholm Institute for Scandinavian Law (author: Örjan Edström)

    “The share of personnel representatives in an administrative body may be one quarter, but the minimum number of personnel representatives stipulated is one and the maximum number is four.”

Reasoning

The German federal administration portal describes several statutory ways for employees to take part in company governance: electing representatives to supervisory boards (E1), electing one third of supervisory board members under the One-Third Participation Act (E2), electing half under the Co-determination Act (E3), and forming works councils (E4). A scholarly comparison of four Nordic countries says all of them have legislation giving employees seats on company boards (E6). It also says the forms differ: works councils are set up by collective agreement in Denmark and Norway, and representation quotas vary (E5, E7, E8). Together these sources show that more than one country has established worker participation mechanisms in different forms, which meets the criteria for true.

Cite this claim

Warren Buffett, “In certain countries there are various ways for workers to participate in company governance.” (said 21 July 2016). Verdict: resolved true. Reliability API, claim c_84686d3d8c71, method 0.1.0+28da144b, dataset release v1.1.2. https://epistacklabs.com/claims/c_84686d3d8c71

This claim is in dataset release v1.1.2, with the same verdict.

Reply to this claim

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More factual claims by Warren Buffett

  1. Mostly true Factual 21 July 2016
    “WE'VE GOT NEW CONSTITUENCIES THAT HAVE BECOME STRONGER LIKE ACTIVISTS AND SO ON.”

    New constituencies in corporate governance, such as activists, have become stronger over the years.

  2. Mostly true Factual 2010
    “Now, Bill and Melinda Gates and I are asking hundreds of rich Americans to pledge at least 50% of their wealth to charity.”

    Warren Buffett and Bill and Melinda Gates are asking hundreds of rich Americans to pledge at least 50% of their wealth to charity.

  3. Resolved true Factual 18 September 2026
    “Howard has been a Berkshire Director for 33 years.”

    Howard Buffett has been a Berkshire director for 33 years.

  4. Resolved true Factual 18 September 2026
    “My son, Howard, will succeed me as Chairman.”

    Howard Buffett succeeds Warren Buffett as Berkshire's Chairman.

  5. Resolved true Factual 18 September 2026
    “I have served Berkshire since 1965.”

    Warren Buffett has served Berkshire since 1965.

All of them

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