Buffett's Business Wire Resumes Statements After Power Failure

  • Service is `fully operational,' chief operating officer says
  • Earlier web page alert advised investors to visit Yahoo

Business Wire, the press-release distribution company owned by Warren Buffett’s Berkshire Hathaway Inc., resumed issuing statements late Monday after dissemination of content was halted by a power failure.

Business Wire was “fully operational again,” Chief Operating Officer Richard DeLeo said in an e-mailed statement. He said Business Wire would provide more information on Tuesday. A power failure at a “third-party co-location facility” led to the shutdown, DeLeo said in an earlier statement.

Many of the largest U.S. companies, including Alcoa Inc. and Exxon Mobil Corp., rely on Business Wire to send out reports on events such as quarterly earnings and personnel moves. The breakdown occurred during one of the busiest times of the day for news, including the minutes after regular trading closed in U.S. stock markets. Last Monday, the news release site sent out more than 80 press releases from 3:30 p.m. New York time until 5 p.m.

“An error has occurred processing your request,” the operation said on its web page Monday. That compares with an earlier alert that said “the Business Wire site is currently unavailable, but will be back shortly,” and directed users to visit Yahoo! Finance or other web portals for releases from member companies.

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