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.
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 …read more

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.
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 …read more