Pennsylvania's Rendell Says Turnpike Bids Due Friday (Update2)
Pennsylvania Governor Edward Rendell said officials will announce in a week the winning bidder to lease and operate the Pennsylvania Turnpike.

Berkshire's Moody's Stake No Conflict, Buffett Says (Update3)
Billionaire investor Warren Buffett said Berkshire Hathaway Inc.'s ownership of almost 20 percent of ratings firm Moody's Corp. poses no conflict with his company's municipal bond insurance business.

Buffett Says Berkshire's Moody's Stake Poses No Conflict: Video
Warren Buffett, chief executive officer of Berkshire Hathaway Inc., speaks about the Federal Reserve's rescue of Bear Stearns Cos., his company's acquisition strategy and his view that Berkshire's ownership of almost 20 percent of ratings firm Moody's Corp. poses no conflict with his company's municipal bond insurance business. Buffett speaks with Bloomberg's Betty Liu in Omaha, Nebrasaka, before the company's annual general meeting. (Source: Bloomberg)

Berkshire's Bond Insurer, Moody's Stake Face Probe (Update4)
Billionaire Warren Buffett's Berkshire Hathaway Inc. faces a probe by Connecticut's attorney general for possible conflicts created by owning almost 20 percent of credit ratings company Moody's Corp. while also running a new municipal bond insurer.

Mohnish Pabrai Calls Berkshire Probe a `Non-Issue': Video
Mohnish Pabrai, managing partner at Pabrai Investment Funds, talks with Bloomberg's Deirdre Bolton about an investigation of billionaire Warren Buffett's Berkshire Hathaway Inc. by the Connecticut attorney general for possible conflicts over Berkshire's ownership of almost 20 percent of credit ratings company Moody's Corp. and Buffett's newly formed municipal bond insurance business. Pabrai and a friend paid $650,100 last year in an annual charity auction to have lunch w

Calpers Seeks to Form Bond Insurer With Other States (Update1)
California's $240 billion public pension fund is working with other states to form a new municipal bond insurer as an alternative to downgraded guarantors such as FGIC Corp., the state's treasurer said.

All Children's Leads Rescue of Auction Borrowers (Update1)
U.S. state and local borrowers burned by the collapse of the auction-rate bond market are bidding on their own securities in an attempt to bring down interest costs that soared as high as 20 percent.

NFL's Giants Redeeming $100 Million in Auction Debt (Update3)
The Super Bowl champion New York Giants are losing in the bond market after interest costs for a new stadium reached as high as 22 percent, forcing the football team to redeem $100 million of auction-rate securities.

Jefferson County Wins Bond Payment Break From Banks (Update3)
Jefferson County, Alabama, officials approved an agreement with banks led by JPMorgan Chase & Co. to delay a $53 million bond payment that was due today as a state bid to keep it out of bankruptcy stalled.

Auction-Rate Market Will `Cease to Exist,' Citi Says (Update2)
The $330 billion auction-rate securities market will ``cease to exist'' after it collapsed in February when Wall Street firms stopped using their own capital to buy unwanted bonds, Citigroup Inc. said.