Editor’s Note: Related tickers: Berkshire Hathaway Inc. (NYSE:BRK.A)
Billionaire investor Warren Buffett joined in a ceremony opening a new customer service center for the Geico insurance company in suburban Indianapolis. The ceremony on Monday took place at the center in Carmel which Geico expects to expand to perhaps 1,200 workers in the next few years. Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) holding company owns Geico. Buffett says several of Berkshire Hathaway Inc. (NYSE:BRK.A)’s businesses have had good experiences with operations in Indiana. State officials say the Carmel center opened in April and has about 250 workers, including insurance agents, trainers, supervisors and support staff.
Warren Buffett sees ‘betrayal’ as hospital drains big endowment (CNBC)
Donald and Mildred Othmer made a lot of money investing with Warren Buffett. When they died, they wanted their Buffett profits to be given back to the community. They probably never imagined what would happen next. In what it calls a “cautionary tale for wealthy investors who hope their gifts will make a long-term impact,” The Wall Street Journal reports on the destruction of a $135 million hospital endowment created less than 20 years ago by the Othmers. Buffett tells the Journal that if the donors were alive, “I would think…they would feel betrayed.”
Nashville CABLE Taps Warren Buffett Biographer Alice Schroeder to Keynote 2013 Board Walk of Fame (ITBusinessNet)
Nashville based CABLE today announced that Alice Schroeder, Warren Buffetts chosen biographer and former Wall Street analyst, will offer the keynote address for its fourth annual Board Walk of Fame. The 2013 installment of the breakfast event will be held from 7:00-9:00 a.m. on Thursday, September 19 at Lipscomb Universitys Allen Arena. Ms. Schroeder offers a unique perspective on her topic, Bulls, Bears, Buffett and Boards, borne from a career as a top ranked Wall Street analyst, FASB regulator, external auditor and New York Times best-selling author.
3 Reasons Warren Buffett Likes New Jersey (NewJerseyNewsroom)
The sale of The Press of Atlantic City to Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) Media Group is expected to close in August. The billionaire businessman’s Omaha-based group just made the Atlantic City newspaper their 31st daily publication. You almost get the impression that Buffett likes New Jersey. That’s because according to stltoday.com, Buffett has said he believes that purchasing smaller papers like The Press will generate limited profits for Berkshire Hathaway Inc. (NYSE:BRK.A), but they are the main source of information about their towns. Also, BH Media states on their website that they provide “a sense of community.”
Florence publisher to leave newspaper for NJ job (IslandPacket)
The publisher of the Morning News of Florence is leaving to run The Press of Atlantic City in New Jersey. Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) bought the New Jersey newspaper and will move Florence publisher Mark Blum into his new role at the newspaper when the sale closes in August. Blum was controller of The Press from 1989 to 1993. Berkshire Hathaway Inc. (NYSE:BRK.A) also owns the Morning News and 29 other newspapers across the country. The Morning News announced in June that Tucker Mitchell, the newspaper’s regional editor in charge of the newspaper and several nearby publications, was leaving to become executive director for public affairs at Francis Marion University.
A Buffett Fortune Fades in Brooklyn (WSJ)
As early investors with Warren Buffett, Donald and Mildred Othmer quietly amassed a fortune that they believed would sustain their favorite charities for generations. Among those organizations: Long Island College Hospital in Brooklyn, N.Y., for which the Othmers created a $135 million endowment in the 1990s, “to be held in perpetuity,” according to their wills. Less than 20 years later, much of their gift is gone. And the hospital’s owners have been cleared by state regulators to close the money-losing nonprofit, which has sparked protests because the 155-year-old facility was one of Brooklyn’s largest private employers.
The Easy Guide to Berkshire Hathaway’s Expected Returns (Fool)
Berkshire Hathaway Inc. (NYSE:BRK.A) can be hard to value. It’s a conglomeration of 55 separate wholly owned subsidiaries and dozens of stock, bond, and derivative investments. The guy steering the ship — Warren Buffett — happens to be as mortal as he is talented, making his value tough to calculate. But here’s what we know. Berkshire Hathaway Inc. (NYSE:BRK.A)’s future returns will equal its growth in book value per share — plus or minus the change in its valuation multiple. That’s just the mathematical certainty of it. Berkshire Hathaway Inc. (NYSE:BRK.A)’s A-shares currently trade at $177,225 per share (B-shares trade for 1/1,500th that amount).
