EveryJoe » Berkshire Hathaway

Berkshire Hathaway Sees Improvement

Mark Ellis — Sat, 08 Aug 2009 03:12:20 +0000

Berkshire Hathaway, the company of billionaire Warren Buffet, saw improvement in profit in their second quarter report. Considering that the company has experienced unprecedented struggles, some industry experts were surprised by the news.

In the second quarter of 2008, Berkshire Hathaway had a net income of $2.88 billion. This year, the second quarter report showed a net income of $3.3 billion — an improvement of more than $400 billion.

Image: Zuma Press

Revenue, on the other hand, wasn’t as glowing. Last year, the second quarter generated approximately $30.1 billion in revenue.

In 2009, the revenue was down to $29.6 in the second quarter. The dip in revenue proves that the company still has a long way to go before they reach their former status.

Based in Omaha, Nebraska, Berkshire Hathaway owns business in a number of industries including electricity, gas, manufacturing, insurance and retail. Buffet, who is estimated to have a net worth of more than $50 billion, is the company’s chairman, largest shareholder and CEO.

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Berkshire Hathaway Sees Improvement

Buffett Cartoon Teaches Money to Kids

Mark Ellis — Sat, 25 Jul 2009 00:54:38 +0000

If you want your children to grow up to be shrewd financial wizards, you may consider letting them watch “The Secret Millionaire’s Club,” starring Berkshire Hathaway chairman and legendary billionaire Warren Buffett. Although the cartoon was supposed to be released three years ago, kids across the country will finally have access to a wealth of money tips courtesy of Buffett himself.

“The Secret Millionaire’s Club” is the main focus of a project that is geared toward promoting financial literacy among the earners and spenders of tomorrow. In the cartoon, Buffett will dispense plenty of useful tips that will help kids to learn important financial principles early, such as how to avoid debt.

The cartoon’s creator, Andy Heyward, originally planned for the cartoon to be released in 2006 on DVD, but a variety of issues led him to postpone the release. While he began the project at his company, DIC Entertainment, Heyward sold the company last year and moves forward on the DVD’s release under different management.

Warren Buffett (Image: Flickr)

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Buffett Cartoon Teaches Money to Kids

It’s Warren Buffett Time Again

Jean Murray — Sat, 09 May 2009 10:50:38 +0000

Warren Buffett, the “Oracle of Omaha,” holds a unique shareholder’s meeting each year for Berkshire Hathaway in Omaha. This year, over 35,000 attendees (shareholders and reporters) listened to Buffett and Charlie Munger talk about the company and many other subject.

Buffett traditionally answers questions from attendees on a wide-ranging list of issues. This year:

(090505) -- OMAHA, May 5, 2009 -- Berkshire Hathaway Chairman Warren Buffett speaks during a press conference in Omaha, Nebraska, the United States, May 3, 2009.

He shared his concern about the future of newspapers,
The possible nationalization of insurance companies.
Reflections on an upturn in the housing market, although at lower prices,
And the value of simplicity. “If you can’t understand it, don’t invest in it.”

The people who bought derivates should have been listening to that last comment.

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It’s Warren Buffett Time Again

Buffett: Future Not Bright for Newspapers

Stephen Kersey — Sun, 03 May 2009 02:18:33 +0000

Billionaire Warren Buffett recently said that the newspaper industry could face the reality of “nearly unending losses” during the annual shareholders meeting for Berkshire Hathaway. While his company owns a few newspapers, his comments paint the picture that he doesn’t see any type of short-term or even long-term turnaround.

The newspaper industry is facing a number of problems. First of all, the national economic woes has companies spending less on advertising, which means less money for newspaper advertising. Secondly, people around the country are opting to save money by canceling their newspaper subscriptions. Next, many other people have turned to the online world as their resource for news rather than newspapers. Finally, more and more advertisers are spending money online rather than newspapers and while newspapers have responded by dropping prices, that hasn’t been enough to curb the problems.

The latest major newspaper in a lot of trouble is the Boston Globe. This newspaper, which The New York Times company owns, is currently in negotiations with labor unions to save money. If no deals are reached, there is a very real possibility that the Boston Globe will cease to exist.

Is the Boston Globe seeing its final days (Image: Flickr)

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Buffett: Future Not Bright for Newspapers

Despite Struggles, Buffet Optimistic

Stephen Kersey — Sun, 01 Mar 2009 09:11:01 +0000

Warren Buffet, the United States billionaire, remains optimistic in the future of the country. In his annual letter to shareholders of his Berkshire Hathaway, Buffet said that the best years of the U.S. lie ahead.

Warren Buffet - Image: Newscome

However, Buffet also warned in the same letter that the economy in 2009 will remain in “shambles” and said it could remain that way for “well beyond”.

Buffet has been chairman and CEO of Berkshire Hathaway for nearly 45 years and his company has just seen the most difficult year in its history. In 2008, the book value of Berkshire Hathaway dropped approximately 9.5%. The only other time in the company’s history that it failed to grow from one year to the next was in 2001 following the attacks of 9/11.

Currently, Berkshire Hathaway’s stock is at $78,600. Although it’s still the most valuable stock in the United States, it lost approximately one-third of its value in 2008. Compared to its peak value of over $150,000 in 2007, Berkshire Hathaway’s stock has almost lost half of its value.

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Despite Struggles, Buffet Optimistic