Celebrity
Buffett Touts Benefits Of Buybacks In His Shareholder Letter
OMAHA, Nebraska — Stock buyback critics, according to billionaire Warren Buffett, are “either an economic illiterate or a silver-tongued demagogue” or both, and all investors benefit from them as long as they are done at the right prices.
Buffett used a portion of his annual letter to Berkshire Hathaway shareholders on Saturday to tout the benefits of share repurchases, which have riled up Wall Street critics like Sens. Elizabeth Warren and Bernie Sanders as many other Democrats. The federal government even imposed a 1% tax on buybacks this year after they surpassed $1 trillion in 2022.
“When you are told that all share repurchases are harmful to shareholders or the country, or especially beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive),” Buffett, a long-time Democrat, wrote.
According to investor Cole Smead, Washington D.C. should take note of Buffett’s position on stock buybacks.
“Any politician, regardless of party affiliation, should stand up and take notice of a statement like that,” said Smead of Seattle-based Smead Capital Management.
Buffett, in typical self-deprecating fashion,
Buffett, in typical self-deprecating fashion, claimed that Berkshire’s remarkable record of doubling the returns of the S&P 500 over the last 58 years with him at the helm is the result of “about a dozen truly good decisions – that would be about one every five years.”
He mentioned a few in his letter, but he kept his message — which has long been one of the most widely read business documents — remarkably brief this year, at just over eight pages. He also dedicated an entire page to a tribute to his 99-year-old business partner Charlie Munger.
“I think investors, whether Berkshire investors or just Berkshire students, look to him for more, and I think they may come away wanting more,” CFRA Research analyst Cathy Seifert said.
Buffett emphasized how much Berkshire benefits from dividends from large investments in its portfolio, such as Coca-Cola and American Express, even though he refuses to pay a dividend at the Omaha, Nebraska-based conglomerate he leads because he believes he can generate a higher return for shareholders by investing that cash. Last year, Coke paid Berkshire $704 million in dividends, and American Express paid $302 million, helping to increase the value of those stakes to $25 billion for Coke and $22 billion for American Express. In the 1990s, Berkshire paid $1.3 billion for each investment.
Buffett said the key lesson for investors is that “it takes just a few winners to work wonders. And, yes, starting early and living into your 90s helps.”
Berkshire Hathaway reported a sharp drop in fourth-quarter profit to $18.2 billion from $39.6 billion a year earlier as the paper value of its investments fell.
Berkshire Hathaway reported a sharp drop in fourth-quarter profit
As a result, the value of Berkshire’s sizable stock portfolio distorted those bottom-line figures once more. Because operating earnings exclude derivatives and investments, Buffett believes they are a better measure of Berkshire’s performance. However, Berkshire’s operating earnings fell to $6.7 billion, or $4,584.46 per Class A share, from $7.3 billion, or $4,904.23 per Class A share, the previous year.
This is significantly lower than what Wall Street predicted. FactSet polled three analysts, who predicted Berkshire would report operating earnings per Class A share of $5,305.83 on average.
Analysts said the results were still strong overall, but higher claims costs continued to hurt Geico’s results, while BNSF’s railroad traffic slowed and rising interest rates hurt several of Berkshire’s housing-related businesses, such as its nationwide network of Realtors and its Clayton Homes manufacturing housing unit.
Berkshire’s performance tends to track the performance of the U.S. economy because so many of its dozens of manufacturing, utility, and retail businesses do. The conglomerate is a barometer of the economy in many ways.
Berkshire continues to invest in whole companies and stocks whenever Buffett sees an opportunity. According to Edward Jones analyst Jim Shanahan, he was particularly aggressive last year, making a net investment of approximately $53 billion. Much of that was invested in Occidental Petroleum and Chevron stock and Alleghany Corp. insurance, which was purchased for $11.6 billion last fall.
Despite all of that spending, Berkshire Hathaway’s cash reserves increased to $128.6 billion at the end of the year, up from $109 billion at the end of the third quarter. Berkshire Hathaway’s businesses generate so much cash that it accumulates faster than Buffett can invest.
Berkshire increased its stake in the Pilot Flying J network of 750 truck stops to 80% at the start of this year, up from 38.6% in 2017, which will help this year’s earnings.
SOURCE – (AP)
Celebrity
Burt the Huge Croc in Crocodile Dundee Dies at Age 90
Burt, the massive crocodile that rose to prominence with an appearance in the film “Crocodile Dundee” and continued to impress visitors with his fierce temper, died at the age of ninety. Staff at Darwin’s Crocosaurus Cove, where Burt had lived since 2008, confirmed his death.
The wildlife centre made a statement on Instagram: “It is with great regret that we announce the demise of Burt, the iconic saltwater crocodile and star of the Australian classic Crocodile Dundee.
“Burt passed away peacefully over the weekend, estimated to be over 90 years old, signaling the end of an incredible era,” American Crocodile News stated.
In the film, Mick Dundee (Hogan), wearing his now-famous Crocodile Dundee hat, leaves the Australian outback for the jungle of New York after meeting American reporter Sue Charlton (Kozlowski), who finally falls in love with him.
The crocodile is famously seen in the moment where Kozlowski’s character is assaulted while kneeling next to a creek.
Crocodile Dundee highest-grossing Australian picture
Crocasourus Cove described Burt, who was taken in the 1980s in the Northern Territory’s Reynolds River, as having a “bold” demeanor.
“Burt was a confirmed bachelor – an attitude he made clear during his earlier years at a crocodile farm,” the center said.
“His fiery temperament earned him the respect of his caretakers and visitors alike, as he embodied the raw and untamed spirit of the saltwater crocodile.”
“Burt was one of a kind.” He was more than simply a crocodile; he was a natural force, a reminder of the great creatures’ power and majesty.
“While his attitude may be tough, it was also what made him so unique and appreciated by those who worked with him and the thousands who came to see him over the years.
The statement ended with the following: “Visitors from around the globe marveled at his impressive size and commanding presence, especially at feeding time.”
Saltwater crocodiles can live for more than 70 years, especially in captivity.
Burt will be honored with a commemorative sign at the site, among some of the Crocodile Dundee 2 cast members.
Crocodile Dundee is the highest-grossing Australian picture of all time, earning $47,707,598 (Australian dollars).
It inspired two sequels, Crocodile Dundee II (1988) and Crocodile Dundee in Los Angeles (2001).
Hogan and Kozlowski married in 1990 and later divorced.
A documentary about the film’s production is anticipated to be released next year.
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Celebrity
Blake Lively Accuses Justin Baldoni of Sexual Harassment
In an 80-page complaint, Blake Lively accuses Justin Baldoni of sexual harassment and launching a smear campaign against her after she declined his approaches.Baldoni’s lawyer Bryan Freedman has denied Lively’s allegations, calling them “false, outrageous.
Blake Lively has filed a lawsuit against Justin Baldoni, charging the actor-director of inappropriate behavior and defamation related to their 2024 film, It Ends With Us. What was once thought to be a public relations campaign to promote the picture turned out to be a complaint.
Lively accuses sexual harassment, including unwanted kissing and sexual comments, throughout the filming. She further claims that Baldoni tried to tarnish her reputation after she declined his approaches.
Baldoni and his production firm, Wayfarer Studios, deny any charges regarding Blake Lively’s nude images or accusations.
Lively’s complaint targets not only director Justin Baldoni, but also key officials in his production firm and people accused of spreading false information about her.
This includes the film’s principal producer, Jamey Heath, Wayfarer co-owner Steve Sarowitz, and a number of others. Baldoni’s lawyer, Bryan Freedman, angrily disputes Lively’s charges, calling them “false, outrageous, and intentionally salacious,” according to Entertainment Weekly.
Baldoni created a toxic workplace
According to Freedman, the actress even neglected to appear on site and made disturbances throughout filming, resulting in the picture’s dismal performance, including “threatening not to show up to set, threatening not to promote the film, ultimately leading to its demise during release.”
The Gossip Girl star’s complaint claims that Justin Baldoni, producer Jamey Heath, and Wayfarer Studios “created a toxic workplace, ignored harassment complaints, and failed to protect the cast and crew.”
The dossier also claims that Baldoni recruited a public relations agency to create a revenge campaign before potential allegations were public.
According to the complaint copy received by People, Baldoni included sexually graphic and naked sequences, including those for an underage character, without Blake Lively’s agreement.
This contained a lengthy “virginity loss scene and an orgasm scene” that did not appear in the original work.
Blake Lively Nude
Baldoni allegedly asked intrusive questions regarding Lively’s intimate sexual encounters with her spouse, including questions about Blake Lively nude images, which she considered invasive and refused to address.
According to the lawsuit, while filming, Baldoni improvised physical intimacy with no previous discussion or choreography. This contained kissing sequences and a slow dance sequence.
According to People, one instance detailed in the complaint states that Baldoni “discreetly bit and sucked on Ms. Lively’s lower lip during a scene in which he improvised numerous kisses on each take.” He eventually “insisted” on shooting “over and over again.”
intrusive behaviours
Baldoni and producer Jamey Heath “repeatedly entered Lively’s trailer uninvited while she was undressed or breastfeeding her child.”
Baldoni and Heath put pressure on Lively to imitate full nudity during a birth scene, despite the fact that there was no prior agreement in the screenplay or contract.
Producer Jamey Heath allegedly showed Lively and her assistant a disturbing video of his wife giving birth without their consent.
Degrading remarks
Baldoni allegedly criticized Lively’s age and weight after giving birth, even phoning her trainer to encourage her to lose weight quickly.
He “often” described ladies in the office as “sexy”. To address the hostile work environment, a list of 30 protections was implemented.
Smear Campaign.
Prior to the film’s release, Baldoni allegedly orchestrated a smear campaign against Lively, afraid she might come out about her experiences.
Lively believes that her legal action would “pull back the curtain on these sinister retaliatory tactics” and protect others who report mistreatment.
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Celebrity
MGK and Megan Fox Love Hate Relationship
MGK and Megan Fox have been in the news for years because of their turbulent relationship. Their four-year romance has been filled with drama, heartache, and passion. The attention is now more focused than ever after their recent breakup caused a stir.
Let’s examine this famous pair’s highs, lows, and potential future developments.
Allegations of a romance between MGK and Megan Fox began in 2020 when they met while filming the movie Midnight in the Switchgrass. What started as a short-lived romance quickly grew more intense, and the two often publicly displayed their love in bold ways.
When they announced their engagement in January 2022, MGK presented them with a unique two-stone ring “symbolic of their souls’ union.”
But this supposedly idyllic partnership wasn’t at all easy. Reports of heated fights, problems with trust, and emotional ups and downs started to surface behind closed doors. The couple’s tremendously passionate yet erratic relationship often made headlines during their time together.
MGK and Megan Fox Breakup
The Thanksgiving weekend in 2024 was a turning point. According to reports, Megan broke up with MGK after finding “upsetting material” on his phone.
This information led to sentiments of betrayal, which have been the main cause of their breakup. According to those close to her, the actress frequently felt disrespected and upset by MGK’s actions.
Megan is expecting the couple’s first child, which heightens the strain. According to sources, co-parenting negotiations are underway as the actress concentrates on her pregnancy. Despite the breakup, Megan is committed to providing a healthy environment for their pregnant child.
Meanwhile, MGK isn’t prepared to give up. Insiders claim that the 34-year-old artist is trying to regain Megan’s affection. He attempts to demonstrate his willingness to change with cryptic social media statements and public apologies.
According to a person close to the couple, MGK is extremely sorry for the problems that caused them to part ways. Megan, though, seems less likely to make amends. According to friends, she is tired of the drama and is concentrating on her own and her kids’ welfare.
Is the separation, however, truly irreversible? Although some say it’s final, others counter that their relationship’s sporadic nature offers room for future reunion.
MGK’s ex-girlfriend
The split’s more strange side story revolves around MGK’s ex-girlfriend Amia Miley’s previous accusations. On a recent podcast, she made startling allegations regarding MGK’s intimate behaviour during their past relationship. Even though it has nothing to do with his recent split from Megan, the article has raised more questions about MGK’s private life.
The musician hasn’t been doing well lately in terms of public opinion. Numerous admirers have characterized his acts as immature and untrustworthy, and they have voiced dismay. On the other hand, Megan has received a ton of support and recognition for her fortitude during this trying period.
Despite the heartache, Megan isn’t dealing with this alone. According to reports, she has received support from her ex-husband, Brian Austin Green, and his fiancée, Sharna Burgess. Sharna, Megan’s soon-to-be stepmother, has been consoling throughout the breakup.
For Megan, this odd bond has turned into a benefit. It demonstrates her capacity to preserve wholesome relationships for the benefit of her children. Megan is devoted to her son’s happiness, having three sons: Noah, Bodhi, and Journey.
It isn’t easy to foresee what will happen to Megan and MGK. Reconciliations have occurred when no one expected them to, and their connection has always been erratic. But according to many close to Megan, this time feels different.
MGK is having a difficult time
Megan appears to be concentrating on her pregnancy and mental health at the moment, and MGK is having a difficult time winning back her trust. One thing is certain: MGK and Megan Fox will continue to be tabloid favourites for the foreseeable future, regardless of whether they can reconcile or go their separate ways.
MGK and Megan Fox’s relationship reminds us that love can occasionally have a price, no matter how intense. Their experience also reminds us of a partnership’s value of open communication, respect, and trust.
It’s simple for spectators and fans to become enmeshed in the drama. Fundamentally, however, this is a very human tale of two individuals attempting to do what is best for themselves and their families while overcoming personal obstacles.
MGK and Megan Fox still haven’t written the next chapter. How this story ends—through co-parenting, reconciliation, or a complete break—will only become clear with time.
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