This page has been archived and commenting is disabled.

Berkshire Seeks To Avoid 2013 Tax Hike, Buys Back BRK Shares

Tyler Durden's picture




 

Define irony: when the most vocal supporter of a dramatic change to the existing tax policy takes advantage of the last few days of the old one...

  • BERKSHIRE HAS PURCHASED 9,200 OF CLASS A SHRS AT $131,000-SHR
  • BERKSHIRE RAISED PRICE LIMIT FOR BUYBACKS TO 120% BOOK VALUE
  • BERKSHIRE MAY BUY ADDED SHRS AT NO MORE THAN 120% BOOK VALUE
  • BERKSHIRE BOOSTS BUYBACK PRICE LIMIT TO 120% BOOK VALUE VS 110%

A total $1.2 billion spent to avoid a few hundred million in new taxes. And now back to the hypocrticy of the "Buffett tax", and "Patriotic Millionaires for America." In other news, total donations to pay down the debt in Fiscal 2013 (starting October 1): $290,195.03.

Full release:

Omaha, NE (NYSE: BRK.A; BRK.B)—Berkshire Hathaway has purchased 9,200 of its Class A shares at $131,000 per share from the estate of a long-time shareholder. The Board of Directors authorized this purchase coincident with raising the price limit for repurchases to 120% of book value. Berkshire may purchase additional shares in the market or through direct offerings at no more than 120% of book value.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 12/12/2012 - 10:47 | 3055634 trav777
trav777's picture

These aren't the droids you're looking for

Wed, 12/12/2012 - 10:55 | 3055681 monkeyboy
monkeyboy's picture

Aye.

 

Do as I say not as I do.

Wed, 12/12/2012 - 10:57 | 3055687 HoofHearted
HoofHearted's picture

Fuck you, Warren Buffett!

No, we haven't forgotten about you, Bernank.

Wed, 12/12/2012 - 11:01 | 3055707 Looney
Looney's picture

Buffy the Vampire

Wed, 12/12/2012 - 11:05 | 3055729 N. B. Forrest
N. B. Forrest's picture

Evil hypocrite.  I used to respect the guy.  But he's completely gone over to the dark side. 

Wed, 12/12/2012 - 11:16 | 3055773 monkeyboy
monkeyboy's picture

He was always the dark side.

Search your feelings. You know it to be true.

 

 

Wed, 12/12/2012 - 11:27 | 3055829 N. B. Forrest
N. B. Forrest's picture

heh... heh...  you are probably right.  He just hid it quite well for so long. 

Wed, 12/12/2012 - 12:26 | 3056070 Tippoo Sultan
Tippoo Sultan's picture

Warren Buffett announces appointment of new manager to run a portion of the financial conglomerate's equity sleeve. Footage courtesy of Berkshire Hathaway:

http://starwars.com/watch/encyclo_unlimited_power.html

Wed, 12/12/2012 - 20:03 | 3057806 strannick
strannick's picture

And he's stumping for J. Dimon as new Treasury Secretary.

Wed, 12/12/2012 - 10:48 | 3055635 GetZeeGold
GetZeeGold's picture

 

 

Only Warren's secretary pays real taxes.

Wed, 12/12/2012 - 11:04 | 3055719 dolph9
dolph9's picture

Yeah but she probably gets alot of unreported cash income through behind-the-desk action.

Wed, 12/12/2012 - 11:30 | 3055842 krispkritter
krispkritter's picture

Becky is gonna be so pissed...

Oh, and Fuck You BuffNanke!

Wed, 12/12/2012 - 13:08 | 3056232 Chuck Walla
Chuck Walla's picture

really? Are we to marvel at Uncle Warren being a cynical old hypocrite?  Or maybe Becky needs some new diamonds to urge on her efforts with that flaccid old tool.

 

FORWARD SOVIET!

Wed, 12/12/2012 - 10:48 | 3055638 darteaus
darteaus's picture

"Raise taxes on the other rich."

-  Warren Buffet

Wed, 12/12/2012 - 10:57 | 3055685 Jim B
Jim B's picture

I despise the hpocritcal troll!!!

Wed, 12/12/2012 - 10:58 | 3055691 FL_Conservative
FL_Conservative's picture

Socialism is for the PEOPLE, not the ruling class.

I don't know when the average person is going to finally realize that these people (the crony capitalist and their political puppets) don't give a flying FUCK about their welfare.  The ONLY thing they care about is how THEY can get enriched.  As I said yesterday, they're every bit as bad as union leadership.  And until we out-manuver them.....somehow.....NOTHING will ever change.

Wed, 12/12/2012 - 11:00 | 3055711 Vashta Nerada
Vashta Nerada's picture

Marx chose his words carefully.  Note that he said dictatorship of the proletariat, not dictatorship by the proletariat.

Wed, 12/12/2012 - 11:02 | 3055715 otto skorzeny
otto skorzeny's picture

it is getting to seem like carrions picking over a carcass-which is ironic in the US since the eagle is a carrion.

Wed, 12/12/2012 - 10:53 | 3055640 Dr. Engali
Dr. Engali's picture

Fucking hypocrite ...just goes to show that in the words of Leona Helmsley... taxes are for little people.

Wed, 12/12/2012 - 11:04 | 3055717 BurningFuld
BurningFuld's picture

No Shit...Buck up Uncle Warren and throw a few Billion in that tax fund you dick. Unless of course you think the money could quite possibly just be squandered?

Wed, 12/12/2012 - 10:48 | 3055643 spastic_colon
spastic_colon's picture

buffett is an effing blowhard.....plus the buyback will boost earnings....what a dick

Wed, 12/12/2012 - 10:51 | 3055654 darteaus
darteaus's picture

When Warren Buffet - the only billionaire from investing - starts playing politics, then one can only assume that: It now pays more to play politics than invest.

Wed, 12/12/2012 - 16:47 | 3057194 Freddie
Freddie's picture

Buffett's old man was a Repub Senator from Nebraska.  Buffet is a Dem and O lover.  His investing skills are really skills on gaming the govt and the tax system.  He has not beaten the S&P like most hedge fund scum.  Stevie Cohen beats the S&P because he trades with insider information.

 

Wed, 12/12/2012 - 10:53 | 3055662 Vashta Nerada
Vashta Nerada's picture

In a sane world Buffett would already be serving a sentence for insider trading over his actions in 2010.

Wed, 12/12/2012 - 10:59 | 3055700 otto skorzeny
otto skorzeny's picture

why-when they can fry small fish like Martha Stewart and G-Rod?

Wed, 12/12/2012 - 10:51 | 3055663 Cursive
Cursive's picture

It's a good thing for them that Buffy and Munger are old.  When the real violence starts, they'll probably both be in the grave already.

Wed, 12/12/2012 - 10:58 | 3055695 otto skorzeny
otto skorzeny's picture

just die old man

Wed, 12/12/2012 - 11:49 | 3055915 Joe Davola
Joe Davola's picture

He probably has it worked out that he'll check out this year just to avoid the increased estate taxes - for the rest of them evil richie riches.

Wed, 12/12/2012 - 10:58 | 3055698 Richard Head
Richard Head's picture

Buffett: just die already.

Wed, 12/12/2012 - 11:00 | 3055709 otto skorzeny
otto skorzeny's picture

my thoughts exactly

Wed, 12/12/2012 - 10:59 | 3055699 Flakmeister
Flakmeister's picture

Any billionaires recently kicked off?

Notice how it said "estate"....

Wed, 12/12/2012 - 11:00 | 3055702 caimen garou
caimen garou's picture

why should that surprise anyone, talks the talk but the buffets will not walk the walk!

Wed, 12/12/2012 - 11:09 | 3055726 Mercury
Mercury's picture

Sorry but how is a company buying back its own shares with post-tax money a tax dodge?

Wed, 12/12/2012 - 11:06 | 3055732 swissaustrian
swissaustrian's picture

Presenting:                             

 

                                  The tax pyramid

             Top .1%: tax exempt/bailout money receipients

                        Top 5%: taxed at 10% or lower

                 middle class: taxed like soviet debt slaves

poor: receiving transfer money from the middle class debt slaves

 

 

Wed, 12/12/2012 - 11:13 | 3055760 Mercury
Mercury's picture

The shape you describe is not that of a pyramid but rather the silhouette of someone with a big, fat ass.

Wed, 12/12/2012 - 12:15 | 3056023 trav777
trav777's picture

top 5% is like 1.6M in 2009...you HONESTLY think people in this echelon really pay 10% tax or less?  WTF are you smoking?  It is precisely these people, who would generally be in the high %iles in income who ARE paying almost ALL of the taxes.  The so-called "middle class," aka everyone below top 10%, pay next to jack in taxes.

Wed, 12/12/2012 - 11:16 | 3055771 TideFighter
TideFighter's picture

"Warren, blow my horn and stick that ukulele up your ass."

You've been working on the railroad alright, railroading the fucking rest of us.

http://www.marketsqueeze.com/2012/01/23/warren-buffett-playing-the-ukule...

Wed, 12/12/2012 - 11:22 | 3055808 Seasmoke
Seasmoke's picture

All you can eat Buffett..... What a fucking pig !

Wed, 12/12/2012 - 11:25 | 3055822 semperfi
semperfi's picture

BUFFET is just another Marxist, along with Soros.

Wed, 12/12/2012 - 11:49 | 3055918 mrdenis
mrdenis's picture

Becky Q is sittin' on Warrens fat finger 

Wed, 12/12/2012 - 11:52 | 3055937 Rentenmark
Rentenmark's picture

Buffet is not the only hypocrite.  I know another Barry supporter who owns a business.  Guess who is trimming their workforce to get below 50 people to avoid Obamacare penalties? You guess it, vote the guy in and then do all you can to not pay for what you voted for.  

Wed, 12/12/2012 - 11:56 | 3055950 MFLTucson
MFLTucson's picture

Whatever the con man and his minions can do to avaoid taxes so you have to pay more is what that POS Buffett will do.  He is a phony and a crook.

Wed, 12/12/2012 - 12:14 | 3056013 Intoxicologist
Intoxicologist's picture

The Orsehole of Omaha.

Every day the shit just keeps getting deeper and deeper.  It's hard to be surprised by anything any more.  Pissed off, yes.  Surprised, nope.

Wed, 12/12/2012 - 12:46 | 3056157 devo
devo's picture

I wish this fucker would die already.

Wed, 12/12/2012 - 13:04 | 3056216 dscott8186
dscott8186's picture

I can only smile at the gullibility of the majority of voters who elected Obama. Demonstrated once again for the thousandth time, the complicit agreement between the monied supporter and the Democrat politician.  

Remind us again why Obama was against the Keystone Pipeline deal that would have employed thousands at no cost to the taxpayer?  Why Mr. Buffett who owns shares in the railroad transporting oil from the North Dakota Bakken oil fields would suffer a loss of revenue IF said pipeline were built.  

"NEVER GIVE A SUCKER AN EVEN BREAK."

W.C. Fields

Now you should understand why Obama supports the NEA, a teacher's union that encourages failure to the point 50% of the kids don't graduate high school in Obama's Chicago's home district.  Keeping America stupid to be continually fleeced is the goal of the Democrat Party.  I guess you could call this a successful strategy if it weren't so insidiously self centered.

Wed, 12/12/2012 - 15:47 | 3056945 NuYawkFrankie
NuYawkFrankie's picture

Re Berkshire Seeks To Avoid 2013 Tax Hikes....

Berkshire SNEAKS To Avoid 2013 Tax Hike...  - Fixed

Wed, 12/12/2012 - 16:00 | 3057006 kragsquest
kragsquest's picture

And Warren does not appear to be buffetted by the media, much.  We know he has been dodging taxes for years....

HOW MUCH IS BUFFETT’S BERKSHIRE HATHAWAY BACK-TAX BILL EXACTLY? ABOUT $1 BILLION

http://www.theblaze.com/stories/how-much-is-buffetts-berkshire-hathaway-...

 

Do NOT follow this link or you will be banned from the site!