Word: midamerican
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Dates: during 2000-2009
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...little history in the auto industry, viewed as potential leader of that shift? One answer is that last September, Berkshire Hathaway chairman Warren Buffett, the Oracle of Omaha, paid $230 million to buy a 9.8% stake in BYD. At a press conference at the time, David Sokol, chairman of MidAmerican Energy Holdings, the Berkshire Hathaway-owned company that made the investment, said he believed that BYD's technology was a "potential game changer if we're serious about reducing carbon-dioxide emissions." BYD has nearly 11,000 engineers and technicians working on battery technology at the company's headquarters...
Today there's little happiness in financial services. Ogunlesi urges demoralized bankers to stay in front of clients and advise them on non-deal-related matters like industry trends, a strategy that pays off once the deals return. Says David Sokol, CEO of MidAmerican Energy Holdings and an Ogunlesi client: "Bayo is a person whom you can talk to about any issue, whether or not his firm is working...
...contrary, after a few years of dismal performance, the stocks of electric utilities--traditionally viewed as boring, safe investments more akin to bonds--have heated up this year, gaining around 5% in a choppy market. Warren Buffett and Bill Gates have made bets on the sector, investing in MidAmerican Energy and Avista, respectively. Stodgy, flat-footed utilities aren't going bankrupt, as predicted, but restructuring to tap the competitive markets. Given their background, though, it's not an easy switch. "These companies didn't consider themselves to have customers--they were called ratepayers," says Michael Egan, CFO of Peco Energy...
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