Alex Crippen is senior coordinating producer at CNBC.com. He started with CNBC television in 1990. Crippen began his media career in affiliate TV and news radio. He holds a degree in economics from Wesleyan University.
We now know who will be having lunch with Warren Buffett after submitting the winning $650,100 bid late Friday. Mohnish Pabrai, a 43-year year old investor from Irvine, California, teamed up with a friend to win the eBay charity auction benefiting San Francisco's Glide Foundation.
In the hours before bidding ended tonight on this year's auction for charity of a lunch with Warren Buffett, it looked like the Buffett meal bubble had burst. The high bid just after 5p Eastern was a bit over $300,000. But when eBay's electronic gavel fell at 10p ET, the apparent winning bid was $650,100, topping last year's record $620,100 by $30,000. (The year before the winner paid $351,100.)
He's best known as the Oracle of Omaha (which makes for a nice alliteration) but the British publisher that's cashed in on the magically profitable Harry Potter series is counting on Warren Buffett to be their new 'Wizard' of Omaha. (Warren the Wizard?)
Warren Buffett's cry of 'tax the rich!' is being heard in Great Britain. Warren Buffett Watch highlighted his comments to CNBC's Brian Shactman the other night, in which he said the gap between the 15% tax rate for public partnerships and the 35% rate for public corporations seemed "illogical." (That's become one of the more contentious issues in Washington following Blackstone's big IPO.) In his appearance at Hillary Clinton's fund-raiser later that same night, he spoke more generally, in effect complaining that he, and very rich people like him, should be paying taxes at a higher percentage of their income.
Billionaire investor Warren Buffett tells CNBC that if a partnership and a corporation are essentially run the same way, it "seems illogical" to tax the partnership at a lower rate than the corporation.
Warren Buffett will be appearing tonight with Senator Hillary Clinton at a New York fundraiser for her presidential campaign. The event is being put together by some of Hillary's Wall Street supporters (and there are plenty of them) including Morgan Stanley chief John Mack.
Warren Buffett sees more philanthropy in the world's future and he's strongly hinting that one of Blackstone's prime beneficiaries is part of the trend. In what appears to be a reference to Blackstone co-founder Pete Peterson, Buffett told Bloomberg TV, "I know of one fellow that's just been involved in a public offering. I think he's going to be setting up a billion-dollar foundation."
WSJ.com's MarketBeat blog points out today that Google's recent surge to all-time highs pushed the company's stock market value above Berkshire Hathaway's earlier today. But it didn't last all that long. At the close of trading Monday, Google's market cap stands at $164.32 billion, a bit over $1 billion below Berkshire's $165.71 billion. The horserace continues tomorrow.
The college team described (favorably) as the 'Buffets of Baseball' .. detailed in this post last Wednesday ... are now the first team in 10 years to win the College World Series two years in a row. Earlier tonight in Omaha, the Oregon State Beavers defeated the North Carolina Tar Heels 9 to 3, sweeping the best-of-three games final. It was a visit to Warren Buffett's modest house in Omaha that prompted Oregonian sportswriter John Canzano to write about the "common ground" between Buffett and the Beavers, calling them both "unpretentious, frugal, intelligent, remarkably understated and modest."
The fifth annual auction of a lunch with Warren Buffett began tonight. Bids are being accepted on eBay through 10PM ET this coming Friday, June 29. But it's not a game just anyone can play. The minimum first bid is $25,000 and all bidders must pre-qualify to discourage jokesters.
BNSF's Matt Rose will drop his CEO role and become executive chairman at the railroad.
America's iconic investor will still be at the helm next year, we predict. His target list could include a very well-known name.
Warren Buffett has no interest in buying the old Berkshire HQ slated for demolition.
Detroit has "huge potential" and might even be a place for Berkshire Hathaway to invest, Warren Buffett said Tuesday night, according to a report.