Money and Finance
Link to article: Buffett's $26 Billion Power Bet in West Seen Paying Off
- Berkshire Profit Benefits From Shift To Rail, Utilities
Warren Buffett’s shift toward businesses like railroads and power production that provide steady profits is paying off for his Berkshire Hathaway Inc. Earnings from Burlington Northern Santa Fe and MidAmerican Energy Holdings accounted for $1.46 billion,...
- Buffett Says Banks Cleared Of Excess Risk Pose No Threat To U.s.
Thanks to Will for passing this along. Warren Buffett, the billionaire investor who oversees stakes in some of the largest U.S. banks, said the nation’s lenders have rebuilt capital to the point where they no longer pose a threat to the economy. “The...
- Warren Buffett: Merchant Banker Of Last Resort
Found via the Corner of Berkshire & Fairfax. In financial markets, judge operators by what they do not what they say or intend to do if stars are properly aligned. Reading the Berkshire Hathaway 10-Q reveals a somber point of view in terms of...
- David Sokol Resigns From Berkshire
A top executive of Berkshire Hathaway who was believed to be on the inside track to one day succeed billionaire Warren Buffett as CEO has resigned suddenly. Buffett said Wednesday that David Sokol's resignation letter, delivered by his assistant late...
- Some Questions On An Above Average Interesting 13-f Season
A great business less from Peter Drucker- it's amazing what you can achieve as a team if you don't care who gets the credit. A related theme for individual investors is - its amazing the ideas you can uncover if you don't mind cloning. This...
Money and Finance
Buffett's $26 Billion Power Bet in West Seen Paying Off
Link to article: Buffett's $26 Billion Power Bet in West Seen Paying Off
Warren Buffett’s $26 billion bet on western U.S. power plants, transmission lines and wind farms is poised to pay off.
Buffett’s Berkshire Hathaway Inc., with the help of California’s grid operator, is moving to unite the holdings under a single market capable of dispatching power across seven states every five minutes. The system, designed to handle sudden swings in supply and demand, would revolutionize the markets from Oregon to Nevada, where 38 transmission operators manually balance their territories on an hourly basis.
The move would be a game-changer for the renewables that Berkshire Hathaway Energy Co. has accumulated over the past decade, including two of the world’s largest solar farms, and for other clean-power producers, according to those who trade in the region’s markets. Berkshire’s plants stand to run for longer periods of time, and its NV Energy Inc. and PacifiCorp utilities will save as much as $63.9 million annually by 2017, Energy and Environmental Economics Inc. reports show.
“It would be huge if all 38 balancing authorities joined,” Sean Breiner, a market design analyst for San Ramon, California-based energy trader Viasyn, said by telephone June 2. “Instead of having these balkanized regions, you’d have resources from Idaho to Wyoming all flowing into one kind of large spot market.”
[H/T Matt]
- Berkshire Profit Benefits From Shift To Rail, Utilities
Warren Buffett’s shift toward businesses like railroads and power production that provide steady profits is paying off for his Berkshire Hathaway Inc. Earnings from Burlington Northern Santa Fe and MidAmerican Energy Holdings accounted for $1.46 billion,...
- Buffett Says Banks Cleared Of Excess Risk Pose No Threat To U.s.
Thanks to Will for passing this along. Warren Buffett, the billionaire investor who oversees stakes in some of the largest U.S. banks, said the nation’s lenders have rebuilt capital to the point where they no longer pose a threat to the economy. “The...
- Warren Buffett: Merchant Banker Of Last Resort
Found via the Corner of Berkshire & Fairfax. In financial markets, judge operators by what they do not what they say or intend to do if stars are properly aligned. Reading the Berkshire Hathaway 10-Q reveals a somber point of view in terms of...
- David Sokol Resigns From Berkshire
A top executive of Berkshire Hathaway who was believed to be on the inside track to one day succeed billionaire Warren Buffett as CEO has resigned suddenly. Buffett said Wednesday that David Sokol's resignation letter, delivered by his assistant late...
- Some Questions On An Above Average Interesting 13-f Season
A great business less from Peter Drucker- it's amazing what you can achieve as a team if you don't care who gets the credit. A related theme for individual investors is - its amazing the ideas you can uncover if you don't mind cloning. This...