MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, October 1, 2008 GEAM Parent Gets the Omaha Seal of Approval It looks like GE Asset Management's parent has an influential new friend. CNBC reports that Warren Buffet's Berkshire Hathaway pumped $3 billion into the ailing company today. GE also announced a common-share offering of $12 billion in stock. "GE is the symbol of American business to the world," Buffet said in a news release. "I am confident that GE will continue to be successful in the years to come." GE's large finance arm has taken a hit from volatility in global credit markets. The company warned that profits could be off as much as 12 percent this year. Printed from: MFWire.com/story.asp?s=19508 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |