Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) agreed to buy aircraft components maker Precision Castparts Corp (PCP.N) in its biggest deal ever, Reuters News reported.Continue
Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) is nearing an agreement to buy Precision Castparts Corp (PCP.N), in what could be the company’s largest purchase ever, a source told Reuters News.Continue
Hedge fund mogul Daniel Loeb on Wednesday took aim at the “Oracle of Omaha,” calling beloved billionaire Warren Buffett a hypocrite, Reuters News reported.Continue
PE fund managers should not be able to cut their taxes by disguising their salary [...]Continue
In Second Opinion, U.S. and Iran reach an agreement on nuclear talks, Apple's music streaming [...]Continue
First Read starts your week with news of Twitter reviewing an alleged ISIS threat to [...]Continue
First Read navigates the Nor'easter with news Deutsche Bank has been charged with tax fraud, [...]Continue
Find out the latest midweek news as First Read has Johnson & Johnson to test an [...]Continue
To end your week, First Read has news on Warren Buffet's investment mistake, President Obama [...]Continue
First Read reveals several Wall Street firms allegedly invested in Mugabe's government amid massacre, how [...]Continue
The entanglement of H.J. Heinz Co. in China's latest food scare highlights a key concern [...]Continue
While the sale of the parent of the Chicago Tribune is drawing interest from Lee [...]Continue
Warren Buffett is “in favor” of increasing the tax rate on capital gains. “I’ve operated under all kinds of tax rates, including 39.6% on capital gains,” the chairman of Berkshire Hathaway Inc. told Carlyle Group CEO David Rubenstein.Continue
If some venture capitalists have issues with the brazen style of the 34-month-old, Sand Hill Road firm Andreessen Horowitz, just wait. The firm’s six GPs have just committed to dedicate half of the income from their venture careers to charity.Continue
Don’t expect a couple of recent big investments of private money into the banking industry to signal a resurgence of dealmaking in the sector, market watchers say. A pair of buyout funds, WL Ross & Co. LLC and The Yucaipa Companies, have made commitments to invest $50 million apiece in Amalgamated Bank, a $4.4 billion […]Continue
President Obama’s plans to change the carried interest tax is getting more attention today.
Obama on Monday pitched a plan, which uses tax increases and entitlement cuts, to slash the federal deficit by $3 trillion, according to the New York Times. In the PE world, it’s the President’s introduction of the so-called “Buffett Rule” — which aims to change carried interest — that is getting tons of play.
Obama called to overhaul the tax code, Bloomberg News reported Monday. His plan aims to eliminate the “special lower rates for the wealthy,” which were “meant to be temporary,” the story says.Continue
The results of our David Sokol poll surprised me.
Yesterday, I asked what might happen to the former heir apparent at Berkshire Hathaway. Sokol, in case you’ve forgotten, bought Lubrizol shares and then pushed Warren Buffett to buy the company. Sokol, who was chairman of several Berkshire units, resigned after his Lubrizol trades became known.
Berkshire shareholders are expected to convene in Omaha tomorrow for the annual meeting. Buffett is sure to be grilled about his poor handling of the scandal. Right now, we don’t care about that. We want to know what will happen to Sokol.Continue
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Things aren’t looking too good for David Sokol, Warren Buffett’s former heir apparent at Berkshire Hathaway .
Yesterday, Berkshire slammed Sokol when it said he violated the company’s standards of conduct and its insider trading policies when he bought Lubrizol shares and then pushed Warren Buffett to buy the company. Sokol, who was chairman of several Berkshire units, resigned after his Lubrizol trades were made known.
This has been an embarrassing situation for Buffett and Berkshire. The Oracle of Omaha has always been big on ethics. He is sure to face some tough questions this Saturday when Berkshire hosts its annual shareholder meeting.Continue