Warren Buffett News: Dividend Aversion, Berkshire Hathaway Inc. (BRK.A)’s Deal & NV Energy, Inc. (NVE)

Why Buffett bailed on India (IndiaTimes)
India has long been viewed as a value investor’s dream: Rapid growth, 1.2 billion people pining for a taste of globalisation, and underdeveloped industries ripe for turnarounds. So, it surprised few when the genre’s guru, Warren Buffett, placed a bet on the world’s ninth-biggest economy. What did come as a surprise, though, was last week’s decision by the billionaire’s Berkshire Hathaway Inc. (NYSE:BRK.A) to give up on India’s insurance market after just two years. Adding to the drama, the withdrawal came the same week India unveiled plans to open the economy as never before to foreign direct investment.

‘Charity’ Fuels a ‘Perpetual Poverty Machine,’ Says Son of Business Magnate Warren Buffett (ChristianPost)
Peter Buffett, Emmy Award-winning composer and son of business magnate and philanthropist, Warren Buffett, says the charity work of America’s growing nonprofit sector is fueling a “perpetual poverty machine.” The younger Buffett, who is also chairman of the NoVo Foundation, noted in a recent op-ed in the New York Times that even in the face of growing inequality, nonprofits dedicated to a whole host of charitable causes continue to increase but have done nothing more than make the rich feel better about themselves. “Philanthropy has become the ‘it’ vehicle to level the playing field and has generated a growing number of gatherings, workshops and affinity groups,” noted Buffet.

Berkshire’s MiTek Building Supply Unit Buys Benson Industries (BusinessWeek)
MiTek Industries, a building supply unit of Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A), bought closely held Benson Industries LLC to expand its offerings to the global high-rise commercial building market. Benson designs, manufactures and installs customized curtain wall systems for hotels, residential, government and institutional buildings, the unit of Omaha, Nebraska-based Berkshire Hathaway Inc. (NYSE:BRK.A) said today in a statement distributed by Business Wire that didn’t disclose terms of the deal.