Buffett’s Berkshire Discloses $528.7 Million Verizon Bet (Bloomberg Businessweek)
Warren Buffett’s Berkshire Hathaway Inc. (A:US) disclosed a holding in Verizon Communications Inc. (VZ:US) in a wager that the telecommunications company will benefit after buying out its partner in the largest U.S. wireless business. Verizon posted the biggest increase in the Dow Jones Industrial Average. Berkshire held 11 million Verizon shares as of March 31, Buffett’s company said yesterday in a regulatory filing. The investment is valued at about $530 million.
The 12 Stocks Warren Buffett and Berkshire Hathaway Just Bought and Sold (Fool)
Tough to excerpt from this one, because it's mostly tables. To sum up, Buffett was likely responsible for adding to the big positions of IBM, WalMart, and US Bancorp, while Ted & Todd were probably responsible for smaller transactions adding to DaVita, VeriSign, Verizon, and Liberty Global (class A and B), and selling parts of DirecTV, GM, Phillips 66, and Starz.
Brazil grants 'eventual reinsurer' permit to Buffett's Berkshire (Reuters)
Susep, Brazil's insurance industry regulator, on Thursday issued a license allowing Berkshire Hathaway Inc to operate in the country as "eventual reinsurer." The license permits reinsurers domiciled in a foreign country to operate in Brazil without a representative office in the country.
Berkshire Hathaway Specialty Insurance Enters Travel Insurance Business (Boston Herald)
Attentive readers may remember the recent news that Berkshire Hathaway had acquired a small company called MyAssist...
Berkshire Hathaway Travel Protection, part of Berkshire Hathaway Specialty Insurance, today unveiled AirCare, the first product in its new travel-insurance line designed for travelers, travel agencies, tour operators and travel suppliers. AirCare is the first low-cost fixed-benefit flight protection coverage available up to one hour before flight departure. [...] AirCare also includes proactive travel-assistance solutions through MyAssist, a global-assistance and concierge service. [...] AirCare is the first of several innovative travel-protection products slated to be released under the Berkshire Hathaway Travel Protection name over the next several months.
Warren Buffett's Win-Win Deal with Bank of America Corp (Fool)
Given its size and importance to the U.S. economy, Bank of America is always in the news. Recently, the company came under scrutiny for revealing a miscalculation of its assets -- the result, an unexpected $4 billion loss. In the annual meeting, Buffett comments on that miscalculation, and he explains why he choose to alter the terms of the deal he made with Bank of America in 2011 -- and why it will benefit both companies.
NetJets Soaring to New Heights on Its 50th Anniversary (BusinessWire)
A nice history of the company is included in this press release.
NetJets Inc., a Berkshire Hathaway company and the worldwide leader in private aviation, will celebrate its 50th anniversary on May 21 with employees at an event at its headquarters in Columbus, Ohio. NetJets was incorporated as Executive Jet Airways, Inc. on May 21, 1964. [...] "I purchased a small, used aircraft in 1986 that I named Indefensible because I felt guilty about flying privately,” said Berkshire Hathaway Chairman and CEO Warren Buffett. “I quickly realized the value of having a private jet as a business tool for utility and convenience, and a few years later Berkshire purchased a larger jet that I named Indispensable. I joined the NetJets family shortly thereafter, purchased the company in 1998, and continue to see it as a remarkable company with a fascinating history and an even better future.”
NetJets CEO Says Wealth-Gap Critics Overlook Aviation Employment (Bloomberg Businessweek)
Jordan Hansell, who heads the luxury-aviation unit at Warren Buffett’s Berkshire Hathaway Inc., said people who point to private air travel as an example of widening inequality miss that his business creates well-paying jobs. [...] NetJets employs more than 6,000 people, including pilots, mechanics and flight attendants. Hansell said that the company’s average U.S. salary is $1,000 higher than it is in Silicon Valley, the California region known for technology companies like Apple Inc. and Google Inc.
The Surprising Thing GEICO and Costco Have in Common (Fool)
Following up on Buffett's remarks, Munger said, "GEICO to me is very much like Costco. One of the reasons that they succeed is because they're really committed to offering a really great product. A lot of people talk that game, but few live it. GEICO does and that will help it over time." That makes sense. Both companies are known for their low costs and remarkable customer satisfaction. In fact, GEICO and Costco in 2013 topped the American Customer Satisfaction index for their respective industries.
HEDGE FUND MANAGER: Warren Buffett 'Is Basically A Tax Evader' (Business Insider Australia)
Macro fund manager John Burbank of Passport Capital joked that Warren Buffett is “basically a tax evader” at the SALT Conference and attendees started clapping and laughing. His argument is not that Buffett is doing anything illegal or anything like that, but that a lot of his success is in investing in a way that results in the lowest tax bill. [...] “I’m not a publicist for Warren Buffett, but when I keep hearing people talk about Buffett’s record, nobody mentions his tax efficiency.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.