May 17, 2012 |
Former paperboy and current Omaha, Neb., billionaire Warren Buffett is throwing the weight of Berkshire Hathaway Inc. behind the newspaper industry, buying the majority of Media General Inc.'s papers months after picking up his hometown publication. Berkshire will spend $142 million in cash purchasing 63 daily and weekly papers, including the Richmond (Va.) Times-Dispatch and the Winston-Salem (N.C.) Journal, along with their commercial printing businesses. Media General's Tampa, Fla. papers, including the Tampa Tribune, aren't included because the company is currently in talks with other prospective buyers.
May 13, 2012 |
DECATUR, Ill. — Wearing a black fleece pullover and blue cargo pants, Howard Buffett loaded his jumpy Slovakian-born German shepherd Bolek into his Ford F-250 Super Duty and radioed his crew that he was on his way. "Beans don't do well in the cold and wet, but I'm going to plant anyway," Buffett said before climbing into the cabin of his John Deere tractor. There he pressed the "resume" button and began planting small, red soybean seeds, 180,000 to the acre. He drove hands-free thanks to a sophisticated onboard global positioning system, which alone cost $20,000.
May 10, 2012 |
Billionaire investor Warren Buffett, who has recently been swatting at rumors about his health and his company's line of succession, is thinking about things cosmetically these days: Berkshire Hathaway is participating in makeup company Coty Inc.'s $10.6-billion bid to take over Avon Products Inc. Coty's new $24.75-a-share offer boosts last month's $23.25-a-share proposal to buy the struggling direct-sales beauty company, according to a...
May 6, 2012
OMAHA, Neb. - Warren Buffett worked to reassure shareholders that he's feeling good after his recent prostate cancer diagnosis, and that Berkshire Hathaway is ready to replace the revered 81-year-old investor when the need arises. Based on the questions Buffett got from the crowd of more than 30,000 at the company's annual meeting in Omaha on Saturday, Berkshire shareholders are taking him at his word. Although Buffett just disclosed the condition last month, he didn't face the first question about his health until well into Saturday's questioning.
April 27, 2012
An inspiring teacher Re "Burbank educator wins top award, praise from Obama," April 25 The first ingredient of great teaching is an engaged heart. Burbank middle school teacher Rebecca Mieliwocki has taken that heart and made of it a beautiful expression of care and excellence. Her humility in being named National Teacher of the Year is a beacon of light on how to behave, and proof again that the truly great don't aspire to be. They simply heed their call to greatness through service.
April 27, 2012
Re "Better than the 'Buffett rule,' " Opinion, April 22 Tom Campbell is right that whether wealthy people are paying their fair share is the wrong question, but he's wrong as to what the conversation should be. The question should not be about economic recovery. That is a short-term approach to taxes. We should be asking what is fair, and what is fair is to tax income - from whatever source - the same. Campbell suggests we tamp down the incentive to invest by raising taxes on investment income and lowering ordinary income taxes by the same amount.
April 19, 2012
Criticizing the chief Re "Beck facing rare criticism," April 16 The fact that suspects do stupid stuff that gets them killed or wounded is apparently lost on the L.A. Police Commission, which has criticized Los Angeles Police Chief Charlie Beck for not punishing officers it found to have used improper force. By insisting that errors of the head be punished, the message to the rank and file is to hesitate the next time - and you too can be among the "honored fallen.
April 17, 2012 |
Our one shared national moment of fiscal soul-searching is behind us for another year — of course I refer to the filing of tax returns — but tax reform theater in Washington, like the melody in the old Irving Berlin song, lingers on. So while individual and business taxpayers watch to see whether any tax reform plan has any chance of passage, the Obama administration's "Buffett rule" proposal succumbed Monday to the threat of filibuster by...
April 17, 2012 |
Both Republicans and Democrats in Washington have called for simplifying the tax code, broadening the tax base and lowering at least some marginal tax rates. But MIT economist and author Simon Johnson said there's a significant hurdle in the way of any such reform -- a hurdle highlighted by the Senate vote Monday on the Obama administration's proposed " Buffett rule . " The proposal, which would impose a 30% minimum tax on anyone with $2 million or more in taxable income, was blocked in the Senate.