Berkshire Buys 10M Share Stake in GM

May 15, 2012  by in UnCategorized   

By Aggregated Content in Business Strategy on May 16, 2012 from http://www.sunherald.com/2012/05/15/3949524/buffetts-firm-buys-gm-stake-boosts.html

Warren Buffett's company is apparently bullish on the U.S. auto industry.

His company, Berkshire Hathaway Inc. took a new stake of 10 million in shares in General Motors Co. in the first quarter. The investment comes as the Detroit automaker continues to rebound from bankruptcy three years ago. It posted a first-quarter net income of $1 billion, fueled by U.S. vehicle sales.

Buffett drives a GM-made Cadillac DTS sedan, so the investment could a further sign of his preference among U.S. automakers. 

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