Berkshire Seeks To Avoid 2013 Tax Hike, Buys Back BRK Shares

Discussion in 'Politics & Religion' started by Tsing Tao, Dec 12, 2012.

  1. Tsing Tao

    Tsing Tao

    Define irony: when the most vocal supporter of a dramatic change to the existing tax policy takes advantage of the last few days of the old one...

    •BERKSHIRE HAS PURCHASED 9,200 OF CLASS A SHRS AT $131,000-SHR
    •BERKSHIRE RAISED PRICE LIMIT FOR BUYBACKS TO 120% BOOK VALUE
    •BERKSHIRE MAY BUY ADDED SHRS AT NO MORE THAN 120% BOOK VALUE
    •BERKSHIRE BOOSTS BUYBACK PRICE LIMIT TO 120% BOOK VALUE VS 110%
    A total $1.2 billion spent to avoid a few hundred million in new taxes. And now back to the hypocrticy of the "Buffett tax", and "Patriotic Millionaires for America." In other news, total donations to pay down the debt in Fiscal 2013 (starting October 1): $290,195.03.

    Full release:

    Omaha, NE (NYSE: BRK.A; BRK.B)—Berkshire Hathaway has purchased 9,200 of its Class A shares at $131,000 per share from the estate of a long-time shareholder. The Board of Directors authorized this purchase coincident with raising the price limit for repurchases to 120% of book value. Berkshire may purchase additional shares in the market or through direct offerings at no more than 120% of book value.
     
  2. There is what they say, and then there's reality. Supporters on all sides of the isle scamming the system for everything it's worth.
    http://finance.yahoo.com/news/winners-and-‘losers’-of-the-special-dividend-bonanza-223519671.html

    "At the end of the day, the avalanche of special dividends is another reminder of a reality that’s so obvious most folks don’t even notice it: Many companies – including some blue-chips – exist largely to serve the interest of a select few individuals, rather than the employees or minority shareholders, much less the community at large."

    No truer statement has ever been said.
     
  3. Hypocrite!!!
     
  4. jem

    jem

    those guys do own a lot of shares and they had a lot to do with founding or being children of the founders.

    Companies don't go public to benefit the public... they go public to benefit the founders... their friends and the people who set the money game up the wall street bankers.

    That has to be part of the thesis of any intelligent approach to investing in this market.

    What we have also learned is that as they groups accumulate money they can buy the SEC and the politicians to the point that rules mean nothing to the people at the top.

    You can see who they are by seeing the campaign contribution list of the heads of the committees which regulate them.

    Then you can sort of hope that you know something about the future trend of earnings that the majority do not.