8 May 2013< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
The Top Penny Stocks newsletter for active penny stocks investors looking for penny stocks and pink sheet stocks
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Buffett , 82, says he is ‘solidly in agreement’ with Berkshire Hathaway board members as to who should take over from him
Warren Buffett and the board of his conglomerate Berkshire Hathaway are “solidly in agreement” on who should be the company’s next chief executive, he said at Berkshire’s annual shareholder meeting on Saturday.
But Buffett, as with past practice, did not actually name his successor as CEO.
Speculation usually focuses on a small group of top Berkshire executives, among them insurance boss Ajit Jain and railroad leader Matt Rose.
The 82-year-old Buffett, in response to a shareholder question, said he thinks all the time about what could go wrong at Berkshire after he is gone.
“The key is preserving a culture and having a successor, a CEO that will have more brains, more energy, more passion for it than even I have … We’re solidly in agreement as to who that individual should be,” Buffett said.
Whoever ultimately takes over Berkshire will run a conglomerate that employs more than a quarter-million people in dozens of businesses worldwide, covering everything from ice cream to insurance and retail to railroads.
Its breadth means that its performance is often seen as a barometer for the broader economy. Earlier Saturday, one of Buffett’s top lieutenants said things were picking up but could improve further.
“It feels like a 2% economy. If we want to see GDP click up to 3.5%, 4%, you need to see more construction,” said Rose, CEO of the railroad Burlington Northern, in an interview.
Rose said BNSF was seeing “across the board” increases in demand to ship things like concrete, roofing tiles and cars.
But as much as investors want to hear about Berkshire’s growth potential and the state of the economy, some also attend the meeting just for a good laugh.
The meeting opened, as it does every year, with a video montage. This year’s included a duet between Buffett and singer Jon Bon Jovi and a take-off on the TV series Breaking Bad.
Some of the best comedy, though, usually comes in the verbal sparring between Buffett and Vice Chairman Charlie Munger over the course of the day. The two are close – they usually share an oversize box of peanut brittle during the meeting – but Munger’s acerbic tongue pops out from time to time.
“I come to see Charlie Munger needle Warren Buffett. Only he can,” said Sherman Silber, a doctor and shareholder.
NEW YORK, NEW YORK–(Marketwired – May 3, 2013) - Macquarie Group Limited (the “Offeror”) has acquired, through its wholly-owned subsidiary Boketo LLC (“Boketo”), 62,212,600 shares of Series A Preferred Stock (the “Preferred Shares”) of Franchise Services of North America Inc. (“FSNA”), and certain rights to acquire additional Preferred Shares upon the exercise of outstanding options convertible into FSNA common shares (“FSNA Shares”), pursuant to an agreement and plan of merger dated as of July 13, 2012 among Adreca Holdings Corp. (“Adreca”), Boketo, FSNA, and Advantage Company Holdings, Inc. (“Advantage Holdings”), as amended (the “Merger Agreement”).
TORONTO, ONTARIO–(Marketwired – April 30, 2013) - On Monday afternoon, during a court-martial hearing at Fort Carson, Colorado, Kimberly Rivera was sentenced to 14 months in military prison and a dishonourable discharge after publicly expressing her conscientious objection to the Iraq War while in Canada. A pre-trial agreement capped the sentence at 10 months of confinement and a bad conduct discharge.
Category : Stocks
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LAS VEGAS, April 26, 2013
CALGARY, ALBERTA–(Marketwired – April 25, 2013) - Kulczyk Oil Ventures Inc. (WARSAW:KOV) (“KOV“), an international upstream oil and gas exploration and production company, is pleased to announce that it has entered into an agreement (the “Arrangement Agreement“) with Winstar Resources Ltd. (“Winstar“) pursuant to which KOV will acquire all of the issued and outstanding shares of Winstar (the “Acquisition“).
View original post here: Kulczyk Oil Ventures To Acquire Winstar Resources
Credit card insurer CPP announces extension to its lending facility in the wake of an agreement to to sell its US arm for £26.1m.