Berkshire investors: Company will endure after Buffett
|
Posted By: Hija Chang on May 04, 2012 (CBS/AP) OMAHA, Neb. — Berkshire Hathaway Inc. (BRK.A) shareholders make their annual pilgrimage here this weekend, and this year they have to confront an uncomfortable truth: Warren Buffett, Berkshire's CEO and the world's third-richest person, can't go on forever. Investors would rather not imagine life without the Oracle of Omaha, who is 81 and said last month that he had been diagnosed with prostate cancer. And he has no plans to leave the post soon. When the day comes, people who have studied the company say, Berkshire without Buffett will probably look a lot like Berkshire with Buffett. Berkshire Hathaway Mimics The Google Effect Buffett has prostate cancer, says he feels "great" In letter, Buffett hints at successor, shares wisdom Berkshire, which owns 80 subsidiaries that range from a railroad to an upscale kitchen products company, is already decentralized: Of its 270,000 employees, just 24 work at Omaha headquarters. The conglomerate has a succession plan in place. Berkshire will split Buffett's job into three when he's gone, and the board has chosen his successor - although Buffett has said that person doesn't know it yet. And at least in the short term after Buffett, not unlike Apple in these first months after the death of Steve Jobs, there should be strong institutional pressure to keep doing things the way Buffett did them, Berkshire watchers say. "Nobody is going to want to mess with what Warren Buffett built," says Jeff Matthews, a Berkshire shareholder and author of "Secrets in Plain Sight: Business and Investing Secrets of Warren Buffett." To be sure, a Berkshire without Buffett would lose the sheen of celebrity. More than 30,000 shareholders are expected to be in Omaha for the annual meeting and related events that begin Friday. More: http://www.cbsnews.com/8301-500395_162-574... If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
 |
Hija Chang
Management, See Moss Interactive Central State University class of 2021 Member Since January 2011 |
Comments
More From This Author
Latest News
 |
Truist Demonstrates the Power of Leadership, Opportunity, and Service at the 2026 TMCF Leadership InstituteAs a proud Signature Sponsor of the 2026 Thurgood Marshall College Fund (TMCF) Leadership Institute, Truist joined hundreds of scholars, educators, corporate partners, and thought leaders in Washingto ...more
Reginald Culpepper • 60 Views • September 15th, 2026 |
 |
Launch Your Tech Career with Buildertrend: Explore 3 Engineering Internship OpportunitiesStudents looking to turn their classroom knowledge into real-world technology experience have an opportunity to build their skills this summer with Buildertrend, a leading construction management soft ...more
Reginald Culpepper • 70 Views • September 15th, 2026 |
 |
Florida A&M University Students Take Center Stage at The College Tour Red-Carpet PremiereFlorida A&M University students took center stage Friday evening as the university rolled out the red carpet at Lee Hall Auditorium to celebrate the premiere of its episode of “The College Tour,” show ...more
Reginald Culpepper • 64 Views • September 15th, 2026 |
 |
The 16th Annual Rice Awards Nominates Singer-Songwriter James ArtissenThe 16th Annual Rice Awards Nominates Singer/Songwriter James Artissen in the Entertainment & Lifestyle category for his influence in the community.
Voting is available until September 21st.
h ...more
Lenell Johnson • 101 Views • September 13th, 2026 |
Popular News
 |
North Carolina HBCU Unity DayShaw University - Elizabeth City State University - Johnson C. Smith University - Fayetteville State University - Livingstone College - North Carolina A&T State University - North Carolina Central Uni ...more
Reginald Culpepper • 116,137 Views • August 8th, 2016 |
