January 2, 2014 |
Warren Buffett, the billionaire investor known as the Oracle of Omaha, may miss his investing goal for the first time in more than four decades. The chairman and chief executive of investment firm Berkshire Hathaway might soon disclose his Omaha company failed over the last five years to boost its net worth more quickly than the Standard & Poor's 500 Index, Bloomberg reported. That five-year comparison has been used by Buffett to demonstrate his company's performance over time. PHOTOS: Richest and poorest cities in America When considered on an annual basis, the company has already failed nine times to show a percentage increase in book value that was greater than the S&P percentage gain.
August 6, 2004 |
Remember when PDA simply stood for public display of affection? In today's rapid-fire, time-deprived world, the acronym more frequently refers to the personal digital assistant -- those little hand-held electronic information devices that hold people's entire lives and have become nearly as ubiquitous as cellphones.
August 24, 2001 |
Southern California Edison dug in its heels Thursday over a proposed cut-rate sale of its transmission grid to the state, but otherwise offered grudging support for a rescue package being drafted in the state Assembly. The bill, whose details keep changing, would allow the Rosemead utility to pay the bulk of its power debt by selling as much as $2.9 billion in bonds to investors. The bonds would be repaid by some Edison business customers and would leave about $1 million in unpaid obligations.
November 9, 1990 |
With the stocks of many local companies floundering, now may be the time to go bottom fishing. That, at least, is the opinion of Newport Securities. The Costa Mesa brokerage has compiled a list of 15 Orange County firms whose shares are selling below the company's book value because of "exaggerated pessimism" in the stock market.
November 16, 1988 |
Millionaire businessman John E. Anderson offered Tuesday to buy 1st Business Bank of Los Angeles for about $89 million in cash in a transaction that would turn the publicly held bank into a private concern. Anderson, a former director of the bank, offered $27 a share in cash for all outstanding stock. The stock is priced at about $21.50 on the over-the-counter market. The purchase price would be three times the book value of the bank--essentially assets minus liabilities.
July 14, 1991 |
The federal government is likely to lose as much as 40 cents on the dollar in selling its current crop of savings-and-loan assets, an investigation by The Times shows. The losses are expected to be far greater than they have been during the last two years, and are likely to add tens of billions to the current $160-billion estimated price tag for the government bailout of the ailing thrift industry. A massive computer review of the records of the Resolution Trust Corp.