--Financial Tools ---Futures Market---ADD HERE LINK-- OPTION ALERTS --BENZINGA--

« Home | Stock Picks and Trade Ideas for Tuesday - BDX, HOL... » | Stocks to watch next week - KNSY, BAX, APSG » | No light at the end of the tunnel » | Stock Picks and Trade Ideas for Friday - CIEN, A, ... » | The engine of the European economy is breaking do... » | Stock Picks and Trade Ideas for Thursday - AAPL, R... » | The strange case of the disappearance of the pick-... » | Stock Picks and Trade Ideas for Wednesday - Amazon... » | Another Financial crisis in the banking sector is ... » | Server problems » 

Tuesday, March 03, 2009 

The World’s Richest Man hit by the crisis

Warren Edward Buffett, the famed U.S. investor who replaced Bill Gates as the richest man in the world in 2008, is being seriously hit by the effects of the crisis. Warren Buffett is one of the world's most successful investors and the largest shareholder and CEO of Berkshire Hathaway. Last year he was ranked by Forbes as the richest person in the world during the first half of 2008, with an estimated net worth of $50.0 billion. The multimillionaire who recorded their worst results ever in 2008, will cut jobs and close factories at a time when the recession worsens. The Berkshire, reduced the number of employees in Clayton Homes at 16% last year to 11,998. Shaw Industries will cut 6.2% of their workforce, announced cited by Bloomberg. According the same source, "Berkshire's operating businesses have and will continue to reduce costs to address the current economic situation, including the reduction of production, the lower cost of capital, closing factories and cutting jobs to compensate in part the fall in demand. " The Berkshire joins to companies like General Motors and Macy's to lay off workers in the worst financial crisis in seven decades. Is now clearly evident that not even the rich are immune to the crisis and are likely to lose much with it.

AC

Bookmark and Share

Contact

About Me

    Photobucket
  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

  • Benzinga.com supporter

    Stockal supporter

    Benzinga.com supporter



    FREE NEWSLETTER

      Enter your email address:

      Delivered by FeedBurner

      Subscribe my feed :

    Support AC

    • Support AC Investor Blog, Donate with PayPal

    Advertising

      Interested in advertising on AC Investor Blog ? Click Here

    RECOMMENDED



    TRANSLATOR

    Site Information

    Stock Market Blogroll

    Friends BLOGROLL

    ARCHIVES

Powered by Blogger
and Blogger Templates


Add to Google