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May 6, 2012

Warren Buffett turned his back on extremely expensive mega-deal

  • $22 billion deal killed at the last minute by Warren Buffett source

» “I just couldn’t make the deal … We couldn’t come to an agreement.”: Buffett, known as a shrewd investor even when the stakes are insanely high, spoke about his almost-deal Saturday on Bloomberg TV. He wouldn’t say who it was, but considering the value, it must’ve been a massive company with a sizable legacy. Why’d he pass on the deal? Simple. Too expensive. The deal would’ve forced him to sell securities he wanted to keep. Buffett, who recently announced he was suffering from cancer, is still looking for the right deals to help add value to his $37.8 billion in cash. ”If we can make a good deal tomorrow, whether it’s big or small, we’ll make it,” he said.

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21:00 // 2 years ago
April 17, 2012
Mega-rich financial genius Warren Buffett announces, via news release, that he has stage one prostate cancer, but that it was caught very early. “I feel great — as if I were in my normal excellent health — and my energy level is 100 percent,” Buffett claims.

Mega-rich financial genius Warren Buffett announces, via news release, that he has stage one prostate cancer, but that it was caught very early. “I feel great — as if I were in my normal excellent health — and my energy level is 100 percent,” Buffett claims.

17:13 // 2 years ago
February 27, 2012
And then I asked him the question, I said .. ‘I would use it for buybacks if I thought my stock was undervalued.’ And I said, ‘How do you feel about that?’ The stock was 200-and-something. He said, ‘I think my stock is very undervalued.’ I said, ‘Well, what better to do with your money?’
Warren Buffett • Explaining how, in a conversation with Steve Jobs a few years ago, the duo discussed what Apple should do with its huge cash reserves. Buffett told Jobs to buy back some of the company’s stock. Jobs reportedly later told his friends that Buffett agreed that they should do nothing with the money — which, in case you missed the last sentence, is the opposite of what he said. Since Jobs died last year, the company has discussed a stock buyback, though it’s made a number of acquisitions of late. The stock, currently at $526, is still considered undervalued.
20:24 // 2 years ago
October 12, 2011

Warren Buffett made lots of money in 2010, paid fairly low taxes

  • $63 million dollars in 2010 alone for Mr. Berkshire Hathaway source

» And he only paid 17.4% in taxes: Buffett, whose monetary gains are the subject of scrutiny because of the fact that he’s the inspiration for Obama’s “Buffett Rule" (a notable part of the president’s jobs plan), released the earnings after being prodded by Rep. Tim Huelskamp of Kansas, a Republican. Of note: Just $39,814,784 of his earnings were taxable, with the rest going to deductions and exemptions (like, say, his fairly robust charitable givings). And in case you’re wondering, Warren’s tax rate is low largely because he makes most of his income through investing. In the end, how much did he pay in taxes? A paltry $7 million (or a mere nine percent in taxes on adjusted gross income).

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20:16 // 2 years ago
October 3, 2011

With this weekend of arrests, this seems like a great way to end it. Warren Buffett knows the score. Love how the reporter is like “it won’t do anything,” and he just drops the $20 billion number off the top. Can’t get anything past him. (via Percolate)

0:20 // 2 years ago
September 18, 2011
Class warfare … may make for really good politics, but it makes for rotten economics.
Rep. Paul Ryan • Coming out, guns blazing, against Obama’s plan to raise the tax rate for the super-rich. Ryan, speaking on “Fox News Sunday,”also claimed that the tax would be in effect a “double tax” on investments, and would discourage investors from putting their money into the economy. “If you tax something more, you get less of it,” Ryan said. “If you tax job creators more, you get less job creation. If you tax their investment more, you get less investment.” Mitch McConnell, speaking on “Meet the Press,” had similar concerns about the “Buffett Rule,” which we found out about last night. source (viafollow)
10:29 // 2 years ago
September 17, 2011
Obama to make tax-the-wealthy push … and credit Warren Buffett
Remember how Warren Buffett wrote that the government should raise the taxes of the super-wealthy … you know, folks like him? Well, it looks like someone with a lot of power to put that plan into action read that New York Times editorial. Obama’s going to make a push to tax the super-wealthy (those who make more than $1 million per year) at the same rate as the middle-class, and he’s calling it the “Buffett Rule.” Great selling point for Obama, but will it be enough for all the other rich people in Congress? Good question. (photo via Medill DC) source
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Remember how Warren Buffett wrote that the government should raise the taxes of the super-wealthy … you know, folks like him? Well, it looks like someone with a lot of power to put that plan into action read that New York Times editorial. Obama’s going to make a push to tax the super-wealthy (those who make more than $1 million per year) at the same rate as the middle-class, and he’s calling it the “Buffett Rule.” Great selling point for Obama, but will it be enough for all the other rich people in Congress? Good question. (photo via Medill DC) source

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20:03 // 2 years ago
August 31, 2011
5:07 // 2 years ago
August 25, 2011

Warren Buffett invests a ton of cash in struggling Bank of America

  • $5 billion investment from Warren Buffett to Bank of America source

» Giving it to the needy: Our boy Warren Buffett, who recently took the U.S. government to task for not raising taxes on the rich, is giving a big cash infusion to a company that’s struggling build confidence in investors. It’s taken a hit on the stock market — its shares are down nearly 30 percent since the beginning of August and it just announced some huge job cuts — and it owns a couple of properties, Countrywide and Merrill Lynch, noted for their spectacular combustions during the financial crisis. Buffett’s deal is pretty sweet — a 6 percent annual dividend and a 5 percent premium if he buys back the stock — but he nonetheless sounds like he’s doing it out of respect for the company. “I am impressed with the profit-generating abilities of this franchise, and that they are acting aggressively to put their challenges behind them,” Buffett said in a statement. “Bank of America is focused on their customers and on serving them well. That’s what customers want, and that’s the company’s strategy.”

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10:31 // 2 years ago
August 16, 2011
Record levels of cash are piling up in corporate treasuries, idling. The only way to break this cycle of fear is to break it.
Starbucks CEO Howard Schultz • Following the lead of Warren Buffett and pushing for more responsibility from those that can afford it. While Buffett went after super-rich taxpayers; Schultz instead is going after corporations that are sitting on piles of cash, yet are staying on the sidelines and choosing not to hire more people — or worse, putting that money into political campaigns in hopes of putting business-friendly leadership in power in 2012. While Starbucks has had union issues and gay rights issues crop up recently, the company does have a reputation for treating its employees better than most corporations of its size. Kudos, Howard. source (viafollow)
2:48 // 2 years ago