Brian Gongol
Berkshire Hathaway subsidiary MidAmerican Energy is buying a Nevada energy company
Berkshire has treated MidAmerican differently than its other subsidiaries -- instead of shipping the profits back to Omaha, they reinvest them over and over within MidAmerican's own portfolio. This purchase fits the standards for a Warren-Buffett-friendly acquisition: Using a rough back-of-the-envelope estimate for how Buffett appears to have valued other recent purchases, NV Energy is intrinsically worth about $6 billion, and MidAmerican is paying $5.59 billion. If a company in a steady industry (like utilities) where retained earnings can be deployed to create even higher profits (as MidAmerican has done by building a mammoth portfolio of wind turbines), then getting a company for a decent discount to its intrinsic value makes plenty of sense.
Man who tried to bomb Wrigley Field gets 23 years in prison
Goldman Sachs says keep buying stocks, regardless of what the Federal Reserve does
Many tornadoes but light damage in Nebraska yesterday
Everything you ever wanted to know about blood types
