Buffett’s offer to back Municipal Bonds sent the stock market soaring on hopes that there would be help on potential claim increases. Buffett’s reinsurance offer does not cover any of the subprime mortgage debt and subprime is still likely to have a major effect for the bond insurers. With the huge potential increase […]
Countrywide came out with a loss in the fourth quarter due to rising loss provisions and impairment charges. Countrywide lost $422 million, or 79 cents per share, during the fourth quarter, compared with earnings of $622 million, or $1.01 per share, during the same period the previous year. Analysts forecasted a loss of […]
Buffett’s formation of a bond insurance company provided some validation to an industry that has been battered by fears of collapse in recent weeks.
Though analysts said the move by Buffett provides a stamp of approval for the broader business model, which has recently come under fire, shares of Buffett’s newest competitors were hammered Friday. “If […]
Warren Buffett’s Berkshire Hathaway announced that it will pay $4.5 billion for 60 percent of Marmon Holdings Inc., a private company of more than 125 manufacturing and service businesses.
Berkshire Hathaway Inc. plans to acquire the remaining 40 percent of Marmon over the next five to six years depending on future earnings of Marmon, according to […]
Reports surfaced that billionaire Warren Buffett may buy parts of Countrywide. Reports from the Wall Street Journal state that Countrywide’s debt-servicing and its mortgage portfolio - mortgage backed securities may be attractive to Buffett. Warren Buffett has recently been increasing his stake in financial service companies focusing on those companies with significant exposure to […]
