Tag Archives: Warren Buffett

Buffett boosts bet on newspapers

The newspaper industry got a dose of good news today with word that billionaire Warren
1e5ec597e241f20c0e0f6a7067003053.jpgBuffett’s company Berkshire Hathaway is buying 63 papers from Media General Inc. for $142 million.

The deal includes the Richmond Times-Dispatch and would give Buffett 25 dailies across the coutnry.

Newspapers have had tough times in recent years, but Buffett apparently sees a brighter future as papers implement paywalls for their online products.

“We may buy more newspapers. I think the economics work out OK,” Buffett told shareholders at Berkshire’s annual meeting earlier this month.

More details:

Reuters: Warren Buffett to buy Media General newspapers

Poynter: Media General, Warren Buffett agree on paywalls

Washington Business Journal: Warren Buffett to buy Media General

 

 

Buffett on banks, Europe, Google and more

Warren Buffett, chairman of Berkshire Hathaway, covered a lot of topics this morning in an interview with CNBC.1e5ec597e241f20c0e0f6a7067003053.jpg

He’s not worried about the global sell-off or Europe’s long-term prospects — it’s a big market and it’s not going away. Apple and Google are too risky for him.

America’s banks are in good shape and the United States did a good job of dealing with the financial crisis in 2008.

Fascinating stuff. Click here for the video.

Photo: In this May 5, 2012, photo, Warren Buffett, chairman and CEO of Berkshire Hathaway smiles on the exhibit floor where Berkshire products aer showcased, prior to the annual shareholders meeting in Omaha, Neb. (AP photo/ Nati Harnik)

Is Warren Buffett eyeing Scripps Networks?

Knoxville-based lifestyle media company Scripps Networks Interactive is exactly the kind of
scripps2_asb_13138.jpgcompany that financial guru Warren Buffett likes to buy, investment strategist David Trainer writes in a MarketWatch article.

“(Buffett’s) interest in media/publishing stocks is grounded in the superior economic earnings these businesses can achieve. And SNI, with a 21% return on invested capital (ROIC), exhibits the kind of scale that Mr. Buffett knows leads to superior economic earnings,” Trainer says.

He also notes that Scripps Networks and Clayton Homes, which Buffett bought in 2003, are both headquartered in the Knoxville area.

David Trainer: Front run Buffett: Buy SNI before he does

Photo: Scripps Networks headquarters in West Knoxville. (News Sentinel archives)

Ben Stein backs president on taxing millionaires

In case you missed it, President Obama’s campaign to raise tax rates on the rich gained an interesting ally a few days ago – Ben Stein.

In an interview on CNN, the economist/ actor said he rarely agrees with the president’s policies, but raising taxes on millionaires is “totally fair and abosolutely necessary” to save the economy. In his State of the Union speech last week, Obama said millionaires should pay at least a 30 percent rate.

It’s fantasy to believe that the economy will fully recover without raising takes on the uber rich, Stein said.

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Warren Buffett vs Sen. McConnell — no contest

The war of words between financial wizard Warren Buffett and Sen. Mitch McConnell is heating up. So far, the senator is losing. If McConnell wants to turn it around he needs to resuEconomy+Leaders.jpgrrect the shovel. (I’ll explain in a moment.)

On Wednesday, Buffett offered to match 1-1 any voluntary tax contributions made by Republican members of Congress.

Senate Transition.JPGBuffett singled out Senate Minority Leader McConnell for special treatment, offering a 3-1 match for contributions from the Kentucky Republican.

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Warren Buffett: Save America, raise taxes on the rich

In a New York Times op-ed piece, the chairman and CEO of Berkshire Hathaway offers Economy+Leaders.jpgCongress sage advice for solving the fiscal crisis facing the federal government.

In a nutshell, Buffett advises Congress to leave tax rates unchanged for 99.7 percent of Americans, but immediately raise tax rates on the mega-rich.

We hear a lot from the extremists from the political right that raising taxes on the rich would be a job killer,  Buffett exposes that ridiculousness for what it is.

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Warren Buffett says S&P was wrong

With the markets plunging one day and soaring the next, the voices of doom are everywhere.

Economy+Leaders.jpgFor a calmer view of the economy, check out Fortune’s interview with Warren Buffett.

Among other things, the Oracle of Omaha says Standard & Poor’s downgrade of U.S. debt was wrong and he isn’t worried about another economic downtown — not yet.

Fortune: Buffett: The lower stocks go, the more I buy

Would you pay $2M for a Buffett lunch?

High-rollers who want to have lunch with one of the richest men in the world can start planning
Economy+Leaders.jpgtheir auction strategy.

Once again, San Francisco charity GLIDE is raising money by sponsoring an eBay auction for lunch with billionaire Warren Buffett. The investment guru has raised nearly $9 million for GLIDE in the past 11 years by having lunch with other rich people.

Last year, an anonymous auction winner paid almost $2.63 million for a power lunch with Buffett at a New York steakhouse.

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Buffett: Invest now in Japanese companies

Investment guru Warren Buffett says now is the time to buy stock in Japanese companies, Economy+Leaders.jpgReuters reports today.

The billionaire heard of Berkshire hathaway Inc. said Japan will recover from the earthquake, tsunami, and nuclear plant disasters that have racked the country.

“It will take some time to rebuild, but it will not change the economic future of Japan,” Buffett says in the Reuters story. “If I owned Japanese stocks, I would certainly not be selling them.”

Read the full Reuters story here.

Obama and the billonaires brainstorm about economy

The economy got a double dose of good news today — retail spending was up foObama+Tax+Cuts.jpgr the fifth straight month in November and inflation remains in check.

But the best news for the economy may have been President Obama’s meeting at the White House with some folks who know how to make money — Warren Buffett and Bill and Melinda Gates.

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