Word: omaha
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Dates: during 2000-2009
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...pragmatism," as one executive puts it, a handful of companies across the U.S. continue to support arts organizations in an economy not given to song and dance. The fine arts have been roughed up by this recession, some fatally, like the Baltimore Opera Company. But enterprises such as Omaha Steaks, Target, AutoZone and Olive Garden--despite struggling themselves--are standing by commitments to keep dance troupes, museums, orchestras and theater groups alive one burger, towel set, windshield wiper and pizza at a time...
...Tenn., as it has since 1993. And Target Corp. continues to devote 5% of its pretax profits--$3 million a week--to charities and outfits like the Pacific Symphony. "When the economy is struggling, the arts help people move forward," says Todd Simon, senior vice president of family-owned Omaha Steaks. "We take a long-term view of our business and a long-term view of our community...
...company donates "seven figures a year," according to Simon, to the Omaha Symphony, the Omaha Performing Arts Society and Opera Omaha, among others. Simon cites a local 2007 study showing that every $1 million added to the budgets of Omaha's nonprofit arts organizations generates three times that amount in economic activity, plus $1 million in wages and salaries and almost $1 million in annual state and local taxes. Simon's executive summary: "You can't argue with those kinds of numbers ... especially when you consider the power of the arts to educate, energize and bring people together...
...company with 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...
...March 9 edition of CNBC's Squawk Box, Becky Quick was interviewing Berkshire Hathaway CEO Warren Buffett when the Oracle of Omaha expressed support for the Obama Administration's mortgage bailout. "Becky," co-host Joe Kernen broke in, "tell Warren you're mad that you've done all the right things and all these other people are going to get bailed out." Buffett replied, "There's nothing wrong with being mad, Joe. It's just that there are times when you're mad about something that you've got to overcome the emotion...