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Beef recall announced over E. coli fears
NEW YORK, Feb. 25 (UPI) -- Warren Buffett, the head of U.S. investment giant Berkshire Hathaway, said the firm had chosen his successor, but he has not said who it is.
Buffett said in a 22-page letter to shareholders he is in "excellent health" and has no plans of "going anywhere."
The Wall Street Journal reported Saturday Buffett's letter points out there were two backup candidates for the job in case the heir-apparent, for some reason, does not accept the job.
The letter said the board at Berkshire Hathaway has had a great deal of "exposure" to the nominal successor, which suggests he or she is someone who already works at the firm.
Berkshire Hathaway is an investment firm that has made Buffett one of the richest men in the country, frequently appearing as No. 1 or No. 2 on the Forbes list of wealthiest individuals.
But he is 81 years old and the company's chairman, chief executive officer and chief investment officer. That makes his successor the heir to possibly many roles, although Buffett has said his work would be divvied up among several individuals when he quits working.
His letter says the transition to a new CEO will be "seamless."
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ERBIL, Iraq, June 19 (UPI) --
Iraq's Kurds have consolidated their growing energy sector with Chevron Corp. securing a third exploration block in the semiautonomous northern region that increasingly operates as a de facto independent state and France's Total buying a majority stake in another.
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RIYADH, Saudi Arabia, June 19 (UPI) --
Britain's BAE Systems, Europe's biggest defense company, reportedly expects to wrap up a price deal with Saudi Arabia for 72 Eurofighter Typhoon combat jets after two years of tortuous negotiations.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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