Has Business Left Milton Friedman Behind?

The economist taught a generation of corporate leaders that profit should be their main motive. A new group of C.E.O.s begs to differ.

#benioff-marc, #berkshire-hathaway-inc, #buffett-warren-e, #business-roundtable, #corporate-social-responsibility, #friedman-milton, #salesforce-com-inc

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Profits Rebound at Warren Buffett’s Berkshire Hathaway

Berkshire reported earnings of $26.4 billion in the second quarter, a turnaround from its $49.7 billion loss in the first quarter, when the pandemic caused a plunge in the stock market.

#apple-inc, #automobile-insurance-and-liability, #bank-of-america-corporation, #berkshire-hathaway-inc, #buffett-warren-e, #company-reports, #coronavirus-2019-ncov, #geico-government-employees-insurance-co, #stocks-and-bonds, #united-states-economy

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Doris Buffett, the Family’s ‘Retail Philanthropist,’ Dies at 92

Her younger brother, Warren, entrusted her with vetting requests after he announced his intention to donate nearly his entire fortune. “Warren loves to make money and I love to give it away,” she said.

#berkshire-hathaway-inc, #buffett-doris, #buffett-warren-e, #deaths-obituaries, #omaha-neb, #philanthropy

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Stock Markets Ignore Bad News on Infections, Earnings

Daily virus cases are setting records and fears are rising that the economic recovery is fizzling. Investors seem unfazed.

#ambani-mukesh-d, #buffett-warren-e, #coronavirus-2019-ncov, #coronavirus-reopenings, #musk-elon, #united-states-economy, #washington-redskins

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Warren Buffett Buys Pipeline in Biggest Deal for Years

The acquisition of a gas pipeline is Berkshire Hathaway’s largest in years, quelling investor anxiety about its recent drought of deal-making.

#berkshire-hathaway-inc, #buffett-warren-e, #coronavirus-2019-ncov, #dominion-energy, #mergers-acquisitions-and-divestitures, #natural-gas, #pipelines

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How Berkshire Hathaway May Have Been Snookered in Germany

A unit of Warren Buffett’s empire paid an inflated price for a pipe maker that used fake sales to look profitable, an arbitration panel concluded. The firm was close to bankruptcy.

#arbitration-conciliation-and-mediation, #berkshire-hathaway-inc, #buffett-warren-e, #frauds-and-swindling, #germany, #mergers-acquisitions-and-divestitures, #precision-castparts-corporation, #schulz-wolfgang, #wilhelm-schulz-gmbh

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Warren Buffett Isn’t Buying Anything

Unlike his spending spree during the 2008 financial crisis, the Berkshire Hathaway chief is keeping his wallet closed.

#berkshire-hathaway-inc, #buffett-warren-e, #company-reports, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #j-crew-group, #shopping-and-retail

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Warren Buffett’s Optimistic? Pessimistic? No, Realistic

Between the lines of “You can bet on America” were warnings not to be overconfident in predicting what the future might hold.

#banking-and-financial-institutions, #berkshire-hathaway-inc, #buffett-warren-e, #coronavirus-2019-ncov, #economic-conditions-and-trends, #united-states-economy

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Berkshire Hathaway Lost $49.7 Billion in First Quarter Stung by Coronavirus

The huge loss reflects the hit that the crisis has inflicted on Warren E. Buffett’s vast conglomerate.

#berkshire-hathaway-inc, #buffett-warren-e, #company-reports, #coronavirus-2019-ncov

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A Big, Once-Reliable Source of Investor Cash Is Drying Up

The losses aren’t coming just from the drop in stock prices. The effect of the dividend cuts sweeping through the market will hurt, too.

#banking-and-financial-institutions, #buffett-warren-e, #coronavirus-2019-ncov, #corporations, #economics-theory-and-philosophy, #mutual-funds, #private-equity, #quarantines, #recession-and-depression, #siegel-jeremy-j, #standardpoors-500-stock-index, #stock-buybacks, #stocks-and-bonds, #thaler-richard-h, #yardeni-edward

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Some Companies Seeking Bailouts Had Piles of Cash, Then Spent It

They poured the money into stock buybacks and dividends. Now, those hurting from the pandemic want government aid.

#american-airlines, #boeing-company, #buffett-warren-e, #business-roundtable, #coronavirus-aid-relief-and-economic-security-act-2020, #creed-greg, #davebusters-inc, #dimon-james, #fast-food-industry, #fink-laurence-d, #kentucky-fried-chicken, #mcdonalds-corporation, #papa-johns-international-inc, #restaurants, #stock-buybacks, #yum-brands-inc

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