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A bull on local newspapers, Warren Buffett's Berkshire Hathaway (BRK.B) will close at year's end...

A bull on local newspapers, Warren Buffett's Berkshire Hathaway (BRK.B) will close at year's end its 10K-circulation Manassas News & Messenger, which began publishing in 1869. "We didn't see any way to turn it back into a profitable enterprise," says Terry Kroeger, who manages Berkshire's newspaper division.
Comments (10)
  • wyostocks
    , contributor
    Comments (8209) | Send Message
     
    I wonder how the fawning MSM and CNBC will react to this.
    Let me guess, with a big yawn.
    Now, if Romney did it.......................
    14 Nov 2012, 02:44 PM Reply Like
  • Uncle Pie
    , contributor
    Comments (3112) | Send Message
     
    I guess the "Bull Run" is over for them?
    14 Nov 2012, 03:39 PM Reply Like
  • bukdow
    , contributor
    Comments (855) | Send Message
     
    Wouldn't this make Buffet (the liberals' favorite capitalist) akin to that evil Romney and his actions at Bain? I think I need Chris Matthews to explain this to me.
    14 Nov 2012, 03:43 PM Reply Like
  • obsidian219
    , contributor
    Comments (6) | Send Message
     
    bukdow: Bain buys companys to turn a quick profit. Buffet has an average holding period for companies he buys in the decades. If you can get past your obvious prejeduce you can see a big difference.
    15 Nov 2012, 05:02 AM Reply Like
  • bukdow
    , contributor
    Comments (855) | Send Message
     
    If you don't mind obsidian, I would like to see some hard evidence regarding the different time frames. Frankly, I don't see much of a difference even if a difference in holding does exist. Its all investment for profit. If a company fails in 3 years versus 7, it still fails.

     

    I realize the Left's claims go nearly unchallenged these days, but maybe you could indulge my "prejeduce" (sic).
    15 Nov 2012, 06:56 AM Reply Like
  • wyostocks
    , contributor
    Comments (8209) | Send Message
     
    I doubt if the people who lost their jobs think Mr. Buffet is their hero.
    You have been taken in by Buffet's massive PR machine.
    15 Nov 2012, 08:31 AM Reply Like
  • gh1616
    , contributor
    Comments (452) | Send Message
     
    obsidian219.........

     

    If I can add my 2 cents having been involved with a couple of private equity firms over the years, & an occasional investor in Berkshire. There is some overlap, but you are comparing apples & oranges.

     

    Private equity does not buy publicly held companies. Despite what you have been told by the media private equity is a very good & important component of a successful economy. Private equity provides funding & management advice to small companies that are in trouble for a variety of reasons, but otherwise have a viable product or service. There is always an exit strategy so investors can be repaid with a profit, generally less than 10 years.

     

    You might be interested to know that investors in private equity are usually institutional; pension funds, & government employee retirement funds. Also the current managing director of Bain is Steve Pagliuca, an Obama supporter.

     

    Like bukdow.......I believe Romney should have taken the private equity fight back to Obama & his team. The ad that was run about some steel company Bain tried to help but failed, that happens, was outrageous & nonsense.

     

    Like bukdow......I also don't understand your comment "obvious prejeduce". I believe you'll find most liberals are white, as is Chris Matthews.
    15 Nov 2012, 09:29 AM Reply Like
  • wyostocks
    , contributor
    Comments (8209) | Send Message
     
    hg1616
    "Private equity does not buy publicly held companies"

     

    Are you nuts? Happens all the time. Ever hear of KKR?Companies are taken private all the time.
    15 Nov 2012, 09:45 AM Reply Like
  • gh1616
    , contributor
    Comments (452) | Send Message
     
    wyostocks........

     

    Understand, & don't disagree regarding KKR. They have, as you said, bought whole public companies & bought divisions of public companies, fixed them, brought them back out. But, KKR is also involved with more than private equity, even public themselves. That is not the normal model for the majority of private equity firms. Most don't have the balance sheet to pull off those kind of deals.

     

    And my point was providing a thumbnail sketch of private equity supporting bukdow, & for obsidian. Since you understand that business I'm sure you would agree private equity are not the bad guys they have been cast as by the media, & initially Obama's reelection ad pac's.
    15 Nov 2012, 11:48 AM Reply Like
  • wyostocks
    , contributor
    Comments (8209) | Send Message
     
    gh1616
    " private equity are not the bad guys they have been cast as by the media, & initially Obama's reelection ad pac's. "

     

    Agree totally.
    15 Nov 2012, 11:56 AM Reply Like
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