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Berkshire Stake Brings Confidence and Credibility to Top China Electric Carmaker BYD
In a move that underscores the potential of China’s auto market – as well as the viability of so-called “green” technology – investing guru Warren Buffett’s MidAmerican Energy Holding Co. will pay roughly $230 million for a 10% stake in BYD Co. Ltd., a Chinese producer of both cars and specialized batteries.
MidAmerican is 87.4% owned by Buffett’s Berkshire Hathaway Inc. (BRK.A, BRK.B), which just last week paid $5 billion for a stake in Goldman Sachs Group Inc. (GS). Buffett’s vote of confidence for Goldman was enough to lure skeptical investors back into the treacherous financial services sector and boosted Goldman…
1Oct2008 | Money Morning | Comments Off | ContinuedGM Tries to Reverse Course, but Can it Catch Toyota?
It has taken three straight years of declining profit for General Motors Corp. (GM) to realize it is no longer on the cutting edge of the world’s automotive market.
To its credit, GM has shifted its turnaround into high gear, painstakingly reshaping what was once regarded as an American business icon. But even with the changes put in motion, it may be too late to catch rival Toyota Motor Corp. (ADR: TM).
General Motors announced yesterday (Tuesday) that it would cut jobs, costs, and possibly sell off its Hummer brand, all in an effort to reduce its exposure to sluggish truck…
4Jun2008 | Money Morning | Comments Off | ContinuedNational Gas Prices
By Martin Denholm
Smart Profits Report
I hope you enjoyed the Memorial Day weekend – and that your wallet still has a pulse if you did any traveling.
I managed to pack in four barbecues (or “cookouts” to put it in American lingo) over the weekend – all pretty close to home – so not too much damage done. And with soaring gasoline and food prices contributing to a projected 3.6% rise in consumer prices this year, it might be the best way to go.
Gas prices obviously remain front-and-center of the news, so let’s check in and see how it’s affecting consumers on…
30May2008 | Smart Profits Report | Comments Off | Continued
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