Warren Buffett News: General Motors Company (GM) Boost, Berkshire Hathaway Inc. (BRK.A)’s Philanthropic CEO & Media General, Inc. (MEG)

Page 1 of 2

Editor’s Note: Related tickers: Berkshire Hathaway Inc. (NYSE:BRK.A), NV Energy, Inc. (NYSE:NVE), Media General, Inc. (NYSE:MEG), Comcast Corporation (NASDAQ:CMCSA), DIRECTV (NASDAQ:DTV), Sinclair Broadcast Group, Inc. (NASDAQ:SBGI), General Motors Company (NYSE:GM), New Young Broadcasting Holding Co Inc (OTCMKTS:NYBH)

Warren Buffett Coca-Cola Company (KO)Buffett gets philanthropy award at Forbes event (Kasa)
Billionaire Warren Buffett‘s giving is being recognized by a group of his fellow philanthropists. Buffett received a lifetime achievement award in philanthropy Wednesday at a private discussion of philanthropy that Forbes magazine sponsored. Not only has Buffett pledged to give away nearly all of his fortune, but Berkshire Hathaway Inc. (NYSE:BRK.A)‘s chairman and CEO has also encouraged others with more than $1 billion to give away at least half their fortunes. Video from the Forbes event (http://onforb.es/186UwKh) shows U2′s Bono singing a version of “Home Sweet Home” that he rewrote in tribute to Buffett.

Eleven Overvalued Warren Buffett Stocks to Sell from Berkshire Hathaway’s Portfolio (247WallSt)
Stock market volatility has returned, and some stocks have sold off enough that they almost appear to be bargains to investors who missed the boat on the way up. As value investors start to look for ample dividend and defensive investments and other cyclical stocks, many will look to see what investment gurus are doing with their money. The stocks inside the Warren Buffett and Berkshire Hathaway Inc. (NYSE:BRK.A) portfolios are often where many investors start to look for value, income and opportunity for the long haul. 24/7 Wall St. has decided to review the Berkshire Hathaway Inc. (NYSE: BRK-B) portfolios to look for opportunities and pitfalls. While we already screened out the “cheapest” Warren Buffett stocks, the review of this guru’s stock portfolio brought up a stark realization.

Buffett utility deal may signal big push to invest cash (TheNews)
MidAmerican Energy Holdings Co, a core part of Warren Buffett’s sprawling business empire, is becoming a favorite way for the “Oracle of Omaha” to invest the billions of dollars of cash on Berkshire Hathaway Inc. (NYSE:BRK.A)’s balance sheet. The unit’s $5.6 billion acquisition of Nevada’s NV Energy, Inc. (NYSE:NVE), announced last week, vaulted MidAmerican to ninth place in terms of US electric utility customers from fourteenth, according to data compiled by Reuters, and fits right into Buffett’s strategy of owning businesses with large, predictable cash flows.

Bono Surprises Warren Buffett With Serenade at New York Event (HollywoodReporter)
The U2 frontman celebrated the Berkshire Hathaway CEO’s philanthropy with an original rendition of “Home on the Range.” U2 frontman Bono surprised uber-wealthy Berkshire Hathaway Inc. (NYSE:BRK.A) CEO Warren Buffett at this year’s Forbes 400 Philanthropy Summit Wednesday night with a serenade dedicated to the philanthropist sung in the tune of “Home on the Range.” Bono introduced his rendition as “the Irish version of the Kansas state anthem” and chuckled good-naturedly through rewritten lines like “Home, home on the range. After Warren gave the whole farm away.”

Warren Buffett-Backed Media General Rises on Young Merger (BusinessWeek)
Media General, Inc. (NYSE:MEG), the TV broadcaster backed by Mario Gabelli and Warren Buffett, rose 34 percent after agreeing to combine with New Young Broadcasting Holding Co Inc (OTCMKTS:NYBH) in a stock deal valuing the companies at $870 million. Media General, Inc. (NYSE:MEG), owner of 18 TV stations, rose to $9.76 at the close in New York, the biggest one-day gain in more than 19 months. The shares have more than doubled this year. The merger highlights the hastening consolidation in local TV, driven by the fees stations and broadcast networks are beginning to extract from cable and satellite operators such as Comcast Corporation (NASDAQ:CMCSA) and DIRECTV (NASDAQ:DTV). Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has spent more than $1.84 billion in the past two years buying local outlets, expanding its reach to 34 percent of U.S. households, according to Bloomberg Industries.

Why Berkshire Hathaway Likely Bought More GM Stock (247WallSt)
General Motors Company (NYSE:GM) is back on track according to Wall Street and Main Street alike. For that matter, things are good enough that it has now been allowed to rejoin the prestigious S&P 500 Index for the first time since its post-bankruptcy. With news out that Treasury sold 30 million shares, we cannot help but wonder whether or not Warren Buffett’s portfolio managers at Berkshire Hathaway Inc. (NYSE:BRK.A) decided to buy more shares in the US auto maker. News hit ahead of the S&P 500 index addition that the US Treasury is selling another 30 million General Motors Company (NYSE:GM) shares, and wire reports showed after the close that the sale was at a price of $34.41 per share. Another 20 million shares are said to be sold by a UAW retiree health care trust fund as well.

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

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

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!