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Warren Buffett And Newspapers: Infatuation Or Cold Calculation?

May 25, 2012 by 1 Comment

Warren Buffett SC 300x226 Warren Buffett and Newspapers: Infatuation or Cold Calculation?

“For most newspapers in the United states, we would not buy them at any price,” -Warren Buffett in 2009.

“I’ve loved newspapers all my life — and always will…. Berkshire will probably purchase more papers in the next few years.” -Warren Buffett in 2012.

Will the real Warren Buffett please stand up? Is the Sage of Omaha a sentimentalist or a skeptic when it comes to newspapers?

Yes.

That the Berkshire Hathaway CEO has a particular soft spot in his heart for the medium has been clear since he picked up his hometown paper, the Omaha World-Herald, last fall, a purchase many wrote off as a charitable act.

Read More at Forbes. By Jeff Bercovici.

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Buffett’s Berkshire To Buy Media General Papers

May 17, 2012 by Leave a Comment

Warren Buffett SC 300x226 Buffetts Berkshire To Buy Media General Papers

Billionaire Warren Buffett’s company is making its largest foray into newspapers yet, agreeing to buy 63 papers from Media General Inc.

Richmond, Va.-based Media General says the $142 million deal includes the Richmond Times-Dispatch and the Winston-Salem Journal. The company is selling all its papers except those in Tampa, Fla., most importantly the Tampa Tribune. Media General says it is in talks with others for those papers.

Read More at OfficialWire. By Associated Press.

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Obama’s Bad Businessmen

May 15, 2012 by 1 Comment

Warren Buffett SC 300x226 Obamas Bad Businessmen

A slew of left-wing business moguls are on the skids thanks to poor investment decisions, questionable judgment, and accusations of bribery and cronyism.

Warren Buffett has lent his star power and his surname to President Barack Obama’s push for higher taxes, but his firm and its shareholders have not fared well during the Obama administration. Berkshire Hathaway has underperformed the Standard & Poor’s 500 Index by an average of eight percent over the past three years.

Buffett is not the only famous presidential supporter to fall from business grace.

Television titan Oprah Winfrey appears to have lost the golden touch that helped make her the richest self-made women in America and propelled Barack Obama from up-and-coming Illinois senator to the nation’s first black president.

Bloomberg News reported earlier this month that the Oprah Winfrey Network (OWN) may have lost as much as $330 million since its launch due to poor ratings and lackluster demand.

Read More at freebeacon.com

Photo Credit: trackrecord (Creative Commons)

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