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Munich Re's CEO says Warren Buffett's Berkshire Hathaway holds a stake in the German reinsurer.
Warren Buffett's railroad ride with Burlington Northern Santa Fe looks increasingly profitable lately. The stock jumped almost 5 percent today (Wednesday) to close at an all-time high of $99.30. That's a gain of almost 30 percent since Berkshire Hathaway finished up its most recent string of Burlington buys in late January.
Wells Fargo, the fifth-largest US bank, said Wednesday first-quarter profit fell, hurt by deterioration in credit quality.
The resignation of General Re's CEO, apparently in response to pressure from Federal prosecutors, is generating some heated debate on whether Washington should stay out of Warren Buffett's boardroom. See Closing Bell's heated discussion on the issue.
Warren Buffett and a root-beer float grace the cover of the latest edition of Fortune Magazine with the headline "What Warren Thinks ..." Among other things, Buffett reveals his thoughts on the government's role in the Bear Stearns rescue.
General Re Chairman and CEO Joseph Brandon, who had once been seen as a possible successor to Warren Buffett, has resigned. He apparently fell victim to pressure from the Federal government to have him ousted.
Berkshire Hathaway Assurance Corp., Warren Buffett's fledgling bond insurer, has received AAA financial strength and financial enhancement ratings from Standard & Poor's Rating Services, the top rating available.
The German national newspaper Frankfurter Allgemeine Zeitung, often referred to as FAZ, will report in tomorrow's (Thursday) edition that Warren Buffett's Berkshire Hathaway has bought one million shares of Munich Re over the past six months.
The Federal government is trying to get Warren Buffett to fire one of his top executives on a question of integrity, according to The Wall Street Journal. Citing "people familiar with the situation," today's Journal says, "Federal prosecutors are pressuring Berkshire Hathaway to replace the chief executive of its reinsurance subsidiary, General Re." General Re CEO Joseph Brandon has not been formally charged with any crime, but the Journal says, "Prosecutors identified Mr. Brandon as an unindicted alleged co-conspirator" in a series of bogus deals designed to artificially inflate AIG's earnings and its stock price.
Warren Buffett is supporting his son's contribution of a song to a worldwide effort to end violence against women.
Warren Buffett's new bond insurer, Berkshire Hathaway Assurance Corp., is now licensed by 44 states and the District of Columbia. In a statement today, the National Association of Insurance Commissioners takes credit for "providing a streamlined, uniform application process ... (to) facilitate the speedy entrance of a well-capitalized company into the bond insurance marketplace."
California's Treasurer isn't welcoming Warren Buffett's move into the bond insurance business. He's even talking about getting the state into the business itself to compete with Berkshire Hathaway's conservative, and pricey, view of risk in the muni bond market.
The primary beneficiary of Warren Buffett's plan to give away almost all of the money that's made him the wealthiest person in the world will sell most of the Berkshire Hathaway shares it's already received from Buffett. In a filing with the SEC, the Bill & Melinda Gates Foundation Trust reveals it has adopted a written sales plan to sell 550,000 of the 975,000 Berkshire Hathaway Class B shares it now owns.
Warren Buffett's performance vs. pay ratio, already enormous by Corporate America's standards, got even more impressive in 2007. In a SEC filing ahead of Berkshire Hathaway's annual meeting in early May, the company lists an annual salary of $100,000 for its Chairman and CEO.
One of the Berkshire Hathaway executives who is widely seen as a top candidate to eventually take over Warren Buffett's CEO duties, says we shouldn't read anything special into his decision to step down as chief executive at MidAmerican Energy Holdings. David Sokol tells the Omaha World-Herald it was simply time for veteran President Gregory Abel to step up at Berkshire's energy subsidiary. Some Buffett-watchers say they think it increases the odds Sokol is on Berkshire's short list to be the next CEO.
David Sokol, the CEO of Berkshire Hathaway's utility subsidiary MidAmerican Energy Holdings, will give up that post at the company's board meeting next month, but will remain chairman. Sokol, who is 51 years old, has been "mentioned" as a candidate to become CEO of Berkshire Hathaway when Buffett, now 77, gives up the job, according to an AP story on CNBC.com today.
Yes, Cramer says, but not for long. Plus, more on WaMu and Deere.
Seven years after Warren Buffett's Berkshire Hathaway invested $300 million in White Mountains Insurance Group, it is selling its 16.3 percent stake in a $836 million deal.
Warren Buffett's Berkshire Hathaway will sell its 16.3 percent stake in White Mountains Insurance Group Ltd in a transaction valued at $836 million, seven years after investing in the Bermuda-based insurer, White Mountains said Monday.
Warren Buffett's big multi-billion dollar bet that stocks won't end up lower years from now gets some attention and analysis in this weekend's Barron's. Essentially, Berkshire is using long-term options contracts as a way of selling 'catastrophe' insurance. In this case, however, the potential catastrophe isn't a hurricane or a flood, it's the possibility that stocks will wind up lower after 15 or 20 years.