Berkshire Hathaway

From Recessipedia

Diversified holding company chaired by Warren Buffett. During the crisis of 2008, Berkshire acquired perpetual preferred shares yielding 10% interest from Investment Bank Goldman Sachs ^[1] and industrial conglomorate General Electric. ^[2]

Berkshire's derivatives positions ^[3] exarcebated the economic and financial pressures the company faced during the recession. For instance, Berkshire posted its first quartely loss since 2001 ^[4] and lost its AAA credit rating from the major ratings agencies. ^[5]

Notes

1. ↑ White, Ben and de la Merced, Michael, "Goldman to Raise $7.5 Billion, Including from Buffett". New York Times (September 23rd 2008): http://dealbook.blogs.nytimes.com/2008/09/23/goldman-to-raise-75-billion-from-buffett/
2. ↑ Dealbook, "Buffett to Invest $3 Billion in G.E." New York Times (October 1st 2008): http://dealbook.blogs.nytimes.com/2008/10/01/buffett-to-invest-3-billion-in-ge/
3. ↑ Dealbook, "Berkshire Says It Underestimated Derivative Risks" New York Times (August 13 2009): http://dealbook.blogs.nytimes.com/2009/08/13/berkshire-underestimated-derivative-risks/
4. ↑ Dealbook, "Berkshire Posts First Loss Since 2001" Italic textNew York Times (May 11th 2009): http://dealbook.blogs.nytimes.com/2009/05/11/berkshire-hathaway-posts-its-first-loss-since-2001/
5. ↑ Dealbook, "Moody’s Strips Berkshire of Its Triple-A Rating" New York Times (April 8, 2009): http://dealbook.blogs.nytimes.com/2009/04/08/moodys-strips-berkshire-of-its-triple-a-rating/