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Warren Jobs | Week Ahead: Jobs, Cars and Warren Buffett – FOXBusiness

WILMINGTON, Delaware (Reuters) – Billionaire investor Warren Buffett told his annual meeting that it “blows your mind” how quickly the newspaper industry is losing the fight for readers and advertisers.

Deals

Yet several companies that would collectively form the second-largest U.S. newspaper group, with a daily circulation of around 4 million, are expecting years of rising advertising sales, their main source of revenue.

These publishers, whose papers include the Trentonian in New Jersey and the Star Tribune in Minneapolis, have one other thing in common: They all have been bankrupt.

Buffett, whose Berkshire Hathaway Inc (BRKa.N)(BRKb.N) owns the Buffalo News and a stake in the Washington Post (WPO.N), told his annual gathering of shareholders earlier this month that the outlook is really tough for newspapers.

But a handful of publishers are hoping that rinsing a combined nearly $2 billion in debt through bankruptcy will give them the capital to reinvest and halt a revenue decline that plagues the industry.

“Yes, the margins and profits of past years will never be repeated, but that doesn’t mean that these businesses can’t make rational sense once the crushing weight of borrowed money is written down in some way,” said Alan Bell, a former chief executive officer of publisher Freedom Communications, which recently came out of bankruptcy.

Many newspaper companies have been able to stay profitable by hacking away at costs. What sets the bankrupt publishers apart is that they forecast stable or even rising ad revenues for years to come, although this would follow declines of 30 percent or more prior to their Chapter 11 filings.

Consider the Journal Register Co, with its circulation of 400,000 by way of 19 dailies, including the New Haven Register. It forecasts ad revenue will rise 8.4 percent over 2010-2013, according to bankruptcy court documents.

Journal Register cut $500 million of its debt in bankruptcy and is now trying to grab readers by giving reporters cameras and blending print and video. It has said it is looking for areas to add editorial staff, a rarity in the industry.

“These companies are trying to come up with new products beyond yesterday’s news in tomorrow’s paper,” said newspaper consultant Alan Mutter. “They get that the business is declining and wasting.”

He pointed to MediaNews Group, which recently introduced a glossy lifestyle magazine to supplement its 54 dailies and their circulation of more than 2 million.

“The fact is, that’s something they could not have done before bankruptcy,” said Mutter.

MediaNews Group’s holding company recently shed $765 million in debt through bankruptcy, and it expects advertising revenues to pick up this year and keep rising through 2013, according to court documents.

The company owns the Detroit News, the St. Paul Pioneer Press in Minnesota and the San Jose Mercury News in California. its CEO recently indicated it may use the newfound strength of its balance sheet to snap up weaker rivals.

Other examples include Freedom, which owns the Orange County Register, and the Star Tribune Media Co, which owns the top daily in Minneapolis. both forecast ad revenue to begin rising this year or next, and each scrubbed about $400 million of debt through bankruptcy.

Mutter said that newspaper companies that clear a chunk of their debt gain critical flexibility.

“The people who didn’t cleanse through bankruptcy are running around with big fat rocks in their pockets.”

Bankruptcy also provides shock treatment that can change entrenched interests, said Michael Epstein, a managing partner of turnaround firm CRG Partners.

“It’s like having a mild heart attack,” he said. “How are you going to treat your body after that mild heart attack? are you going to continue to pollute it or begin to take care of it?”

But not everyone agrees with the recently bankrupt publishers’ forecasts.

Brian Tierney, who was CEO of Philadelphia Newspapers LLC when it filed Chapter 11 last year, has said the hedge fund and bank lenders that now own rival publishers have used upbeat forecasts to justify piling debt on the newspapers after they emerge from bankruptcy.

As Buffett has said, that could lead to more financial trouble if it turns out the business is eroding.

Fitch Ratings analyst Mike Simonton said newspaper ad revenue might stabilize this year, in part because of easy comparisons with a very weak 2009. but he doubted cutting debt could free up capital soon enough to halt a long-term decline.

He noted another possible reason for the publishers’ optimism: shaky forecasting.

“These companies typically missed predictions and projections about their revenue going into the downturn,” he said, “and it’s not surprising that many would miss coming out.”

(Additional reporting by Jennifer Saba in New York; Editing by Lisa Von Ahn)

Newspapers bet on revenue driver: bankruptcy

Warren Edward Buffett (born August 30, 1930) is a U.S. investor, businessman, and philanthropist. he is one of the most successful investors in history, the largest shareholder and C.E.O. of Berkshire Hathaway, and is currently ranked by Forbes as the second richest human on Earth with an estimated net worth of approximately thirty-seven billion dollars.

Buffett is often called the “Oracle of Omaha” or the “Sage of Omaha” and is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth.

Buffett is also a notable philanthropist, having pledged to give away 85% of his fortune to the Gates Foundation. he also serves as a member of the board of trustees at Grinnell College.

In 1999, Buffett was named the top money manager of the twentieth century in a survey by the Carson Group, ahead of Peter Lynch and John Templeton,. In 2007, he was listed among Time’s 100 most Influential People in the world.

Here are some very interesting aspects of his life:

1. he bought his first share at age 11 and he now regrets that he started too late!

2. he bought a small farm at age 14 with savings from delivering newspapers.

3. he still lives in the same small 3-bedroom house in mid-town Omaha ,
that he bought after he got married 50 years ago. he says that he has
everything he needs in that house. His house does not have a wall or a fence.

4. he drives his own car everywhere and does not have a driver or security people around him.

5. he never travels by private jet, although he owns the world’s largest private jet company.

6. His company, Berkshire Hathaway, owns 63 companies.
He writes only one letter each year to the CEOs of these companies, giving them goals
for the year. he never holds meetings or calls them on a regular basis.
He has given his CEO’s only two rules. Rule number 1: do not lose any
of your share holder’s money. Rule number 2: Do not forget rule number 1.

7. he does not socialize with the high society crowd. His past time
after he gets home is to make himself some pop corn and watch Television.

8. Bill Gates, the world’s richest man met him for the first time only
5 years ago. Bill Gates did not think he had anything in common with
Warren Buffet. So he had scheduled his meeting only for half hour. But
when Gates met him, the meeting lasted for ten hours and Bill Gates
became a devotee of Warren Buffet.

9. Warren Buffet does not carry a cell phone, nor has a computer on his desk.
His advice to young people: “Stay away from credit cards and invest in yourself and
Remember:
A. Money doesn’t create man but it is the man who created money.
B. Live your life as simple as you are.
C. Don’t do what others say, just listen them, but do what you feel good.
D. Don’t go on brand name; just wear those things in which u feel comfortable.
E. Don’t waste your money on unnecessary things; just spend on them who really in need rather.
F. after all it’s your life then why give chance to others to rule our life.”

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Tags: Amazing facts, facts, richest man, Warren Edward Buffett

Warren Edward Buffett….World's second richest man facts

THE financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher. In the near term, unemployment will rise, business activity will falter and headlines will continue to be scary.

Warren Buffett: Buy American. I Am.

WASHINGTON–Superinvestor Warren Buffett, the chairman and CEO of Berkshire Hathaway–who with his daughter Susan early on spotted presumptive Democratic nominee Sen. Barack Obama (D-Ill.) as a comer– will headline a $28,500-per-person fund-raiser (to… Full Article at Chicago Sun-Times

Warren Buffet holding $28,500 per plate fundraiser for Obama

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Berkshire Hathaway

For people looking for similar to Berkshire Hathaway, I suggest Markel (MKL).  It’s like a little baby Berkshire with a stock price in the three digit range.  Actually when you purchase this stock you are purchasing Berkshire Hathaway since the fund invests heavily on good stocks.  The CEO follows the value investing theories of Warren Buffett and Benjamin Graham.  The price is at $353 which is close to the 5-year low.  At this price, it is a definite bargain and it won’t be there for too long.

What does Markel do? They are a insurance company, but they do ‘niche’ insurance. You won’t find them providing insurance for automobiles or health care. They insure weird stuff like derby horses, commercial buildings against disasters (hurricanes, earthquakes), high-value motorcycles, personal watercraft, airplanes, and even energy-producing activities.

If you look at the stock price, you’ll notice a huge drop in 2008. There was the immediate effect of wall street that brought the price down. In addition, there was the losses from insuring the buildings covered against the Hurricane Ike and Gustav. However, it still managed to pull off a profit for 2009. The secret sauce is lots of the company is just like Berkshire. They invest in other companies.

Tom Gayner, Chief Information Officer, follows the Warren Buffet philosophy. He looks for companies that are long-term profitable, high return on equity, and a low stock price. About $1.3 billion of the company consists of a large portfolio of big name stocks – 3M Co. (MMM), Abbott Laboratories (ABT), Campbell Soup Co. (CPB), The Walt Disney Co. (DIS), General Electric Co. (GE), International Business Machines Corp. (IBM), PepsiCo Inc. (PEP), The Procter & Gamble Co. (PG), and Wal-Mart Stores Inc. (WMT). Markel’s largest holding is probably Berkshire Hathaway (898 Class A shares valued at about $91 million and 31,418 Class B shares, worth about $106 million). With a market cap is $3.46 billion, their stock portfolio makes up a huge source of their business.

For those that are looking to buy long-term stocks , Markel might be a good one to look at. You don’t need to do the research of individually picking the stocks. You got a financially savvy stock guru that holds billions of dollars to back up your investment. If you read their latest 4th quarter report, Gayner states that his company is ready to handle the rising inflation. He’s prepared for the future and I’m willing to bet some money to agree with that.

Warren Buffett has again given us his great knowledge into the future and all things beyond.  His 2009 statement provides his thoughts on the future of the United States, which is positive and his thoughts on the events that have occurred at Berkshire Hathaway for the past year.  He’s positive for the future of the US economy.  He even states that his company Clayton Homes will become more profitable.  His theory is that the amount of ‘housing starts’ has bottomed out.  He shows the amount of homes being built has decreased largely for the 2009 year.  This means the housing inventory is kept stable allowing for the foreclosed homes to be bought.  This stabilizes the housing prices and keeps current home owners from turning off their house.

Since the 50-to-1 split, Berkshire Hathaway has been making a sudden move up.  The price of the stock makes it an easy buy for index funds and mutual funds to add it in their profile.  As the stock improves, it will eventually move into the S&P 500.  This in turn will make S&P funds purchase more of it.  Hence you see the price moving up even with this bad economy.

I’ll be posting another article in the next day of a company that performs similarly to Berkshire Hathaway. They follow the same philosophy and are a pretty ‘unknown’ company to many. It should be a good investment opportunity for people that want a safe investment.