Word: hathaway
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
This might be the year that the rest of us got smarter than Warren Buffett. America's best-known investing whiz runs Berkshire Hathaway, pals around with Bill Gates and famously shuns tech stocks. Yet tech stocks, the day traders' favorite food, have sustained the market, while Berkshire's A-class stock is down 19% and headed for its first losing year since 1990. By the end of last week, when stocks in general were bruised by fears of inflation and mixed earnings reports, the company had lost $20 billion of market value...
...million last year to acquire Executive Jet Aviation, operator of NetJets, which created a business in fractional ownership of aircraft. With revenues projected at $900 million for 1998 and climbing an average rate of 35% annually, the company instantly became the fastest-growing division in Buffett's Berkshire Hathaway empire, which includes stakes in American Express and Coca-Cola and ownership of Geico insurance...
Warren Buffett, the investor and head of Berkshire Hathaway, noted some of these trends two years ago, when his Geico insurance subsidiary doubled its projected 4% profit margin because the number of claims was decreasing. Last year margins were well over the target again. Buffett warned that such stellar results would not persist because they would soon invite competition. That's what has happened, and now he expects the industry's margins to contract as insurers cut prices to battle for market share--bad news if you own the stocks but not if you're a policyholder...
...mainly a choice of religious schools. The problem is that Cleveland's vouchers are capped at $2,250--not unusual for a voucher, but far too little money to allow real choice in the private school market. A poor parent who wanted to use a voucher at the Hathaway Brown school in suburban Shaker Heights would be out of luck: tuition there costs more than $13,000 in the higher grades. The $2,250 vouchers work for religious schools because they receive charitable contributions from their churches, conduct fund raisers and keep salaries excruciatingly low. Starting pay for a Catholic...
...Buffett, the fabled investor and CEO of Berkshire Hathaway, refuses to split Berkshire's A shares, which traded last Friday for $72,500 each. If stock splits add lasting value to a company, as today's fervor suggests, it's a wonder that Buffett is held in such high regard. His reputation, though, wasn't built by pandering to passing fads...