Briefs

Tokyo Electric Power's shareholders may be wiped out by cleanup costs and liabilities from the worst nuclear accident since Chernobyl. After the Mar. 11 earthquake and tsunami knocked out cooling systems at the Fukushima Dai-Ichi nuclear plant, the company's shares fell 78 percent, as of Mar. 31. If the crisis and cleanup last two years, Tepco may face claims of up to $132 billion that could result in a government takeover, according to Bank of America Merrill Lynch (BAC). Still, Tepco Chairman Tsunehisa Katsumata, who took charge after President Masataka Shimizu was hospitalized for high blood pressure, said on Mar. 30 that he wants the power utility to remain a private company.

David Sokol, one of Warren Buffett's top managers, resigned on Mar. 28. Sokol bought about 96,000 Lubrizol shares before recommending Buffett's Berkshire Hathaway (BRK/A) take over the company. In a statement, Buffett said he didn't ask Sokol to resign and that the purchases weren't unlawful. Lubrizol's (LZ) stock is up 30 percent since the Mar. 14 announcement of the $9 billion deal. The value of Sokol's shares, if he still holds them, is up by some $3 million. Calls to MidAmerican Energy, where Sokol was chairman, weren't immediately returned.