About a year ago, I commented on an article that appeared in Barron's which argued that Warren Buffett's Berkshire Hathaway (BRK.A) was overvalued. In my post, entitled Barron's Pans Buffett's Berkshire, I agreed with the article that Berkshire Hathaway stock looked overvalued. A lot has changed since then. Berkshire shares have fallen 45% from their high and hit a fresh yearly low on Wednesday at $84,000 per share.
Read more »Down 45%, Buffett & Berkshire Hathaway Are On Sale
Category: General Finance Tags:
Global stocks hit 5-1/2 year lows (Reuters)
Reuters - A rout in Asia pushed world stocks to their lowest in 5- years on Thursday, while oil fell to below $53 a barrel and safe havens such as the yen gained as economic data indicated a global recession could get even uglier.
Read more »Yahoo, T-Mobile announce mobile search deal (Reuters)
Reuters - Yahoo Inc announced an expansion of its mobile Web portals to T-mobile, so its smart phone users who get data will have Yahoo search by default.
Read more »SEC puts off vote on rules for rating agencies (AP)
AP - The Securities and Exchange Commission on Wednesday delayed a plan to adopt new rules aimed at stemming conflicts of interest in Wall Street's credit rating industry.
Read more »Wall Street sinks to lowest since 2003 (Reuters)
Reuters - Stocks plunged to their lowest in five-and-a-half years on Wednesday as investors girded for a lengthy economic downturn and automotive executives predicted a far-reaching calamity without a government lifeline.
Read more »U.S. auto execs testify as legislators try for deal (Reuters)
Reuters - U.S. auto executives went to Capitol Hill on Wednesday for a second day to plead for $25 billion in government aid, but legislators tried to fashion a last-minute compromise bailout bill that could pass both Congressional and White House muster.
Read more »U.S. probing Golden West lending, sale: prosecutor (Reuters)
Reuters - The government is investigating if homeowners were misled by California bank and mortgage issuer Golden West Financial, which was acquired by Wachovia Corp -- another possible victim.
Read more »Moody’s Cuts Ratings for United Site Services
Moody’s Investors Service has cut the corporate family rating of United Site Services Inc. to B1 from Ba3, downgraded its first lien revolving credit facility to B1 from Ba3 and downgraded its second lien term loan to Caa1 from B3. USS is a Westborough, Mass.-based renter of on-site event services like portable restrooms, temporary fencing. It has been owned by DLJ Merchant Banking Partners since 2006.
PRESS RELEASE
Category: Private Equity Tags:
Moody’s Downgrades Sabre Holdings Outlook
Moody’s Investors Service has cut the rating outlook for Sabre Holdings Corp. from stable to negative. Sabre is a Southlake, Texas-based online travel reservations company taken private last year by Silver Lake Partners and TPG Capital for approximately $5 billion.
PRESS RELEASE
Category: Private Equity Tags:
Wind Energy America Inc. Obtains Financing to Complete Minnesota Wind Farm (Business Wire)
MINNEAPOLIS----Wind Energy America Inc. announced today that it has started ordering parts and commencing construction and interconnect operations to complete its wind farm project in Minnesota which contains two of the Gamesa wind turbines acquired in the Boreal Energy asset purchase.
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