September 11, 2008 |
Warren E. Buffett's Berkshire Hathaway Inc. will stop selling insurance to lenders through its Kansas Bankers Surety Co. unit for deposits beyond the Federal Deposit Insurance Corp. limits. "Eventually, we aren't going to be covering any deposits in banks," said Chuck Towle, an executive at Kansas Bankers. The move reduces Berkshire's risk from bank failures, which are running at the fastest pace in 14 years.
August 19, 2003
Re "Buffett's Property-Tax Remarks Stir Debate," Aug. 16: Warren Buffett [now advising Arnold Schwarzenegger] is right, and all the others are a bunch of cowards. I too sit smugly, paying a third what my new neighbors pay in taxes. But even though I'm benefiting, I'm not scared to acknowledge that other states charge a lot more and benefit accordingly. Since Proposition 13 came along, our infrastructure has crumbled. I'm sure many would rather pay no taxes and deal with dirt roads and disbanding the University of California system, but that's not necessarily what's best for all in the long run. Luckily, Proposition 13 is considered holy by so many, I'm in no danger of losing my bargain.
January 3, 2010 |
More than 4,000 miles of train tracks stretch through California, winding up the blustery Cajon Pass and snaking through the desert surrounding Barstow. Those tracks could be seeing a lot more traffic in the next few years as trains loaded with Chinese-made toys, electronics and clothing roll eastward, connecting West Coast ports with cities across the U.S. Warren Buffett is a believer. In November, the world's second-richest man paid $34 billion for railroad giant Burlington Northern Santa Fe Corp.
January 19, 2010
A unit of billionaire Warren Buffett's Berkshire Hathaway Inc. acquired a block of the U.S. life reinsurance business of Swiss Reinsurance Co. for nearly $1.3 billion, freeing up the Zurich, Switzerland, company's capital for more profitable investments. The deal with Berkshire Hathaway Life Insurance Inc., announced Monday, was retroactive to Oct. 1. It will release 300 million Swiss francs (about $292 million) in capital reserves for Swiss Reinsurance. Under terms of the deal, called a retrocession, Omaha-based Berkshire Hathaway will be able to pocket premiums but also will be on the line for as much as $1.5 billion in potential losses.
November 13, 2005
IN Mimi Avins' article about retirement ["For Men, Aging's a Type-A War Zone," Oct. 30], she may have skipped over a very important factor. The people she cites as unwilling or unready to retire -- Rupert Murdoch, Warren Buffett -- are power players. Why should they retire? They can collect salaries, take vacations for as long and as often as they like and enjoy most of the advantages of retirement while continuing to exert the power that defines them. They are not typical candidates for retirement.
April 20, 2008 |
Kenny Chesney must have gotten word about the Malibu dress code: It's baseball caps, dude, not cowboy hats. What other possible explanation is there for the country music legend to have bought a house in the Carbon Canyon neighborhood for $7.4 million in February and then promptly re-listed it for sale at $7.95 million? The home, which was listed at $7.5 million when Chesney bought it a nanosecond ago, has expansive ocean views.