Warren Buffett News: Berkshire Hathaway Inc Buys Back $1.2 Billion in Stock

Page 1 of 2

BERKSHIRE HATHAWAYBerkshire Buys Back $1.2 Billion in Stock (WSJ)
Warren Buffett‘s Berkshire Hathaway Inc. (NYSE:BRK.A) +2.78% bought $1.2 billion of its own shares from the estate of a “long-time shareholder” as it increased the amount it is willing to pay to repurchase its stock. Berkshire’s board, headed by Mr. Buffett, authorized the repurchase of 9,200 of Berkshire’s Class A shares for $131,000 each. It said it was now willing to pay up to 120% of book value per share to buy back its stock. Both moves were announced in a news release just after markets opened Wednesday morning. Trading in Berkshire stock was halted until the statement was released at 9:38 a.m. East Coast time. When trading resumed, Berkshire shares rose 2.4% to $133,941.

Warren Buffett And The Collective Action Problem (Forbes)
I think this is quite a decent little jibe by Warren Buffett over higher taxes and voluntary payments: Answering Republican calls for the mega-billionaire to donate money to the US Treasury if he wants to help with deficit reduction, Mr Buffett told Time magazine they should all join hands in the effort. “If we go to a contribution system, I’ll match the total contribution made by all Republican members of Congress. And I’ll even go three for one for McConnell,” he said, according to interview excerpts released by Time.

Buffett Is Latest Billionaire to Struggle With Newspaper Revival (SFGate)
Warren Buffett, the investor famous for betting on aging industries like railroads and insurance, is now trying to pull off something other billionaires have tried and failed to do: save the newspaper business. His company, Berkshire Hathaway Inc., has spent more than $342 million on 80 newspapers — including its hometown paper, the Omaha World-Herald — and used them to build a new business unit. And Buffett isn’t done. Though the division announced plans to close an underperforming newspaper in Virginia last month, he’s said that more acquisitions may be in store.

Warren Buffett And George Soros Want Higher Estate Tax Than Obama Proposes (Forbes)
As if the situation with estate and gift taxes wasn’t confusing enough, another hat has been tossed in the ring. It comes from a group called United For A Fair Economy. For someone who dies before the end of the year the unified credit will cover the estate tax on $5,120,000 with a top marginal rate of 35%. Based on law in place now, that goes to $1,000,000 and a top marginal rate of 55% on January 1, 2013. I have written several posts urging people to consider large gifts before the deadline. The Obama administration has proposed that the unified credit cover $3,500,000 with a top marginal rate of 35%. I have heard a rumor that there was a pre-election deal that we would stick with $5,120,000 regardless of how the election turned out. I have not seen much about the estate tax being mentioned in the various fiscal cliff drama reports of nonprogress. So maybe there is something to the rumor.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!