Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Businessweek Archives

Why Salomon Is So Lightly Buffeted


In Business This Week

WHY SALOMON IS SO LIGHTLY BUFFETED

The brokerage slump has finally caught up with Salomon. On July 6, the Wall Street giant announced that it will report a second-quarter loss of about $200 million. Salomon's stock dropped 4% on the news, to 451/2--the first real hit it has taken this year. One big reason for its strength: investor Warren Buffett. Berkshire Hathaway, Buffett's investment company, added 200,000 shares to Salomon's holdings in May, according to a Securities & Exchange Commission filing. And this May, Buffett got an O.K. from Salomon's board to up his 20% stake to 25%.EDITED BY KEITH H. HAMMONDS


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus