Warren Buffett’s Berkshire Hathaway Inc. reduced its holdings of Energy Future Holdings Corp. debt by a third after the Texas power provider made an interest payment and staved off a bankruptcy filing, according to a person with knowledge of the transaction. Berkshire sold about $615 million of its $1.8 billion in face value of Texas Competitive Electric Holdings Co.’s senior unsecured notes this month [...] The Omaha, Nebraska-based company had taken more than $1.9 billion in writedowns from 2010 through the third quarter of this year, “substantially all” of which was related to Texas Competitive bonds, according to regulatory filings on its website.
Berkshire’s PacifiCorp Looks to Sell Oregon Hydroelectric Dam (Bloomberg)
Berkshire Hathaway Inc.’s PacifiCorp utility is seeking to sell a hydroelectric dam that’s no longer profitable to operate. The dam is on the Deschutes River in Bend, Oregon, PacifiCorp said today in a statement. The company, owned by Warren Buffett’s Omaha, Nebraska-based firm, may seek to place the structure under local control.
Even Warren Buffett doesn't want old Berkshire HQ (CNBC)
The mayor of New Bedford, Mass., wants to save Berkshire Hathaway's old headquarters from demolition, but he's having trouble finding buyers. Even Warren Buffett himself isn't interested. The Wall Street Journal reports the owner of the 86-year-old "squat, dilapidated office building" at 129 Cove Street wants to build a parking lot in its place but has agreed to wait a few months while the city looks for a buyer for what once housed the Berkshire Hathaway textile company.
Why Warren Buffett Doesn't Mix Morals With Money (Fool)
Buffett and Charlie Munger once thought about buying a chewing-tobacco company. They traveled to Memphis, entertaining the idea along the way. They never took the deal. Buffett later said the following: "In the end, we decided we didn't want to own it. We would buy stock in a tobacco company, but we didn't want to own it." This is interesting. Buffett would own shares of a tobacco company, but he wouldn't own all of it. He wants some barrier between Berkshire Hathaway and the company, perhaps for liability reasons, and probably also for insurance on his reputation.
NetJets enhances safety features on Bombardier Signature Series long-range aircraft with Tempus IC medical device (Avionics Intelligence)
NetJets Inc., a Berkshire Hathaway company and a provider of private aviation for nearly 50 years, is partnering with Remote Diagnostic Technologies to add a new safety feature to all super midsize and large cabin NetJets Signature Series aircraft by equipping them with the Tempus IC Medical Device. The Tempus IC lightweight, compact telemedicine device uses the plane’s onboard satellite communication capability to connect to a doctor on the ground in the event of a medical emergency. The device enables trained medical experts to begin helping the crew and passengers within minutes of a medical incident occurring on board, especially in remote areas or on long flights, such as flying over the ocean.
5 Things You Probably Didn't Know About Warren Buffett (Fool)
1. Harvard turned him down
2. He learned the most from a guy you've likely never heard of
3. He's really good at what he does
4. His father was a four-time congressman
5. He doesn't consider himself the most important person at Berkshire
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