Money and Finance
- Warren Buffett Looks Ahead To Berkshire’s Next 50 Years
Link to article: Warren Buffett Looks Ahead to Berkshire’s Next 50 Years Warren Buffett says that lately he’s been pondering the future of Berkshire Hathaway Inc. more than usual. Like in years past, he has been busy composing his annual letter to...
- Investors Earn Handsome Paychecks By Handling Buffett's Business
Found via the Corner of Berkshire & Fairfax. Warren Buffett's decision to hire two investment lieutenants is paying off for Berkshire Hathaway, and it's paying off for the two younger money managers, too. Todd Combs, 42, and Ted Weschler,...
- Warren Buffett's Letter To Publishers And Editors
From last week. Warren Buffett pledged a "hands-off" policy for the newspapers his company plans to buy. "You should treat public policy issues just as you have in the past," he wrote in a letter to publishers and editors of the Media General Inc. daily...
- Buffett Awards Wall Street-sized Pay Praised By Dimon
Berkshire Hathaway Inc. (BRK/A) Chief Executive Officer Warren Buffett, who has said banker greed helped deepen the U.S. financial crisis, attracts the workers he wants with compensation that competes with Wall Street awards. Berkshire gave $17.4 million...
- Buffett Reveals Warts As He Prepares Annual Letter
Warren Buffett bought oil stocks near the peak of an energy boom, declined to spend $35 million on a growing television station and swapped a Berkshire Hathaway Inc. (BRK/A) stake for a shoe company he later said was worthless. In each case, shareholders...
Money and Finance
Berkshire Hathaway to Buy Omaha World-Herald Newspaper
Warren Buffett’s Berkshire Hathaway Inc. will expand its media holdings by acquiring the Omaha World-Herald Co., publisher of the billionaire’s hometown newspaper.
The World-Herald reported the price as $150 million plus assumption of debt. The deal would give Berkshire control of the World-Herald, six other daily newspapers and several weekly newspapers across Nebraska and southwest Iowa, according to a company statement today. Sellers include employee shareholders and the Peter Kiewit Foundation.
Buffett is putting aside his doubts about the industry after telling shareholders in 2009 that papers have “potential for unending losses” and that he wouldn’t buy most of them “at any price.” Publishers have lost revenue as readers shift to other media including the Internet.
Buffett told employees today that newspapers “have a decent future,” according to the World-Herald’s account. “It won’t be like the past. But there are still a lot of things newspapers can do better than any other media.” As for the cost, Buffett said, “it’s not a crazy price. It certainly is not a bargain.”
In addition to the $150 million cash purchase, Berkshire will take on $50 million of World-Herald debt, the newspaper reported. Buffett didn’t respond to an interview request e- mailed to Berkshire’s Omaha headquarters.
“That’s a pretty generous price,” said John Morton, a veteran newspaper analyst and president of media consulting firm Morton Research Inc. who writes a column for the American Journalism Review. “That’s a price that you would have paid for it five years ago.”
- Warren Buffett Looks Ahead To Berkshire’s Next 50 Years
Link to article: Warren Buffett Looks Ahead to Berkshire’s Next 50 Years Warren Buffett says that lately he’s been pondering the future of Berkshire Hathaway Inc. more than usual. Like in years past, he has been busy composing his annual letter to...
- Investors Earn Handsome Paychecks By Handling Buffett's Business
Found via the Corner of Berkshire & Fairfax. Warren Buffett's decision to hire two investment lieutenants is paying off for Berkshire Hathaway, and it's paying off for the two younger money managers, too. Todd Combs, 42, and Ted Weschler,...
- Warren Buffett's Letter To Publishers And Editors
From last week. Warren Buffett pledged a "hands-off" policy for the newspapers his company plans to buy. "You should treat public policy issues just as you have in the past," he wrote in a letter to publishers and editors of the Media General Inc. daily...
- Buffett Awards Wall Street-sized Pay Praised By Dimon
Berkshire Hathaway Inc. (BRK/A) Chief Executive Officer Warren Buffett, who has said banker greed helped deepen the U.S. financial crisis, attracts the workers he wants with compensation that competes with Wall Street awards. Berkshire gave $17.4 million...
- Buffett Reveals Warts As He Prepares Annual Letter
Warren Buffett bought oil stocks near the peak of an energy boom, declined to spend $35 million on a growing television station and swapped a Berkshire Hathaway Inc. (BRK/A) stake for a shoe company he later said was worthless. In each case, shareholders...