Berkshire Hathaway reports record earnings for its shareholders in meeting with Warren Buffett. In the announcement during its shareholders meeting held at Omaha, Nebraska last Friday, Warren Buffett said that quarterly profit rose nearly 51% on solid performance of its investments in insurance and other businesses, together with revenues from derivatives.
Sectors
Bioniche Responds No to Request for Special Meeting
The Special Committee of Bioniche Life Sciences responded to the request for a special meeting with a letter saying no.
Wall Street Expects Fed To Continue Stimulus Program
Wall Street is expecting the Federal Reserve to continue implementing its stimulus program. Wall Street is urging the Federal Reserve to purchase a total of US$1.
Vinik Asset Management to Close Shop
Vinik Asset Management is set to wind up its business, according to a report from the Wall Street Journal.
LTC Properties to do IPO
LTC Properties to undertake IPO to increase its capital funds. LTC Properties is now in the midst of capital building through an underwritten public stock issue.
Latest News
Claire's Inc prepares for IPO expecting a return in the upwards of US$100 million. Claire's Inc, the private equity backed retailer of jewelry and accessories, has filed an application with government regulators to raise up to US$100 million in an initial public offering of its common shares of stock.
Loans remain the safest route for financing during unstable markets. A crackdown on bank lending similar to regulations have not barred corporate funds from plunging itself into the loan markets.
Junk rated companies are riding the crest of yield seeking investors, regardless of the risks. The current European economic crisis has moved a rate cut this week, but this did not hinder the unstoppable search for profit from many fund managers.
Buyout flipping means private equity funds sell and buy assets from one another, which to many looks like recycling in order to generate funds.
More and more banks are incensed with deals done privately instead of the normal auction process conducted.
GE obtains approval from the Federal Trade Commission for its purchase of Lufkin pumps. General Electric Co obtained antitrust approval to purchase oilfield pump manufacturer Lufkin Industries Inc.
Charlie Ergen may be the face of Dish Network but Tom Cullen is the muscle behind the push for wireless technology.
Mike Brown did the work and now has US$33 million for Bowery Capital. Mike Brown has spent the past year making trips to small rural towns and has spent many weeks in cities from the west to the east.
Checkview recently concluded transfer and acquisition of Checkpoint. In an announcement made by Checkpoint Sytems, Inc today, it disclosed that the sale of its Canadian and US Checkview organization to an associate of Platinum Equity was recently concluded.
