Berkshire Hathaway Inc. News

Berkshire Defends $8B Texas Power Proposal to Combat Blackouts

Berkshire Hathaway Inc on Saturday defended its $8 billion proposal to build natural gas plants in Texas to help reduce the threat of devastating blackouts such as those in February. “When you look at the power sector (in Texas), it …

Buffett Deputy Combs to Lead Geico While Running Portfolio

When he’s not managing a $14 billion stock portfolio for Warren Buffett, Todd Combs will now also be running the second-biggest U.S. auto insurer. Berkshire Hathaway Inc. tapped one of its two key investing deputies to replace Bill Roberts as …

Berkshire’s Jain Offers Plan to Reduce Costs at Gen Re

Ajit Jain, one of Warren Buffett’s top managers at Berkshire Hathaway Inc., has a message for the staff that he oversees at Gen Re: It’s time for their business to get much leaner and less bureaucratic. After taking charge of …

After Berkshire Accord Liberty Mutual Sells $750M Bond

Liberty Mutual Group Inc. issued $750 million of bonds to help finance a payment to a unit of Warren Buffett’s Berkshire Hathaway Inc. for covering the insurance company’s liabilities tied to asbestos. The 4.85 percent, 30-year notes were sold to …

Liberty Mutual Reaches Reinsurance Deal With National Indemnity

Liberty Mutual Insurance said it has reached a deal with National Indemnity Co. (NICO), a subsidiary of Berkshire Hathaway Inc., on a combined aggregate adverse development cover for substantially all of Liberty Mutual’s U.S. workers’ compensation, asbestos and environmental liabilities. …

Buffett’s Hathaway Compensation Rises to $485,606

Warren Buffett’s compensation from Berkshire Hathaway Inc. rose 15 percent last year to $485,606, although the billionaire’s salary remained $100,000. The increase came in “other compensation,” which includes company-paid costs for Buffett’s personal and home security. As usual, Buffett reimbursed …