The US auto dealer industry recently saw a huge shakeup when Warren Buffett's Berkshire Hathaway investment company bought Van Tuyl Group, the country's largest privately owned network of showrooms, for an undisclosed sum. Assuming the deal's regulatory success, it immediately made Buffet one of the nation's largest car retailers. But could the acquisition have come as part of a larger plan to launch a Chinese automaker in the US?
When Warren Buffet makes an investment, people pay attention. That's just one of the perks of being one of the richest men in the world, and his latest move is a big one. Buffet's Berkshire Hathaway investment company is to hopping into the auto business in a huge way by buying Van Tuyl Group, the nation's largest privately owned auto dealer network, for an undisclosed sum.
China-based electric-vehicle maker BYD wants to get an extra charge out of the public investment market. The company said last week that it will sell about $550 million worth of stock on the Hong Kong stock exchange. That'd be the largest single offering since the company went public in 2002.
It's not exactly unusual for a car to catch on fire after getting rear-ended at more than 100 miles an hour.
Chinese automaker BYD, backed by U.S. billionaire Warren Buffett, may be headed down a rocky road. According to Daily Finance, BYD's troubles aren't limited to profits tumbling. In fact, Daily Finance hints that BYD will need to step up its game to keep Buffet from bailing out entirely.
Thank God it's for charity. Now we don't have to laugh as loud at the guy who just paid more than 73 large for a 2001 Lincoln Town Car on eBay. OK, this wasn't just any used TC, it belonged to financial guru and billionaire philanthropist Warren Buffett. 19 People placed a total of 63 bids with the winning high at $73,200 by 'billzanker.' Bill Zanker is president and founder of The Learning Annex, which sponsors educational seminars around the country.
Billionaire Warren Buffet will be auctioning his 2001 Lincoln Town Car Signature Series next month on eBay (a standard Town Car is pictured). The light-gold, full-sized sedan with a light-beige interior also comes with Buffet's custom "THRIFTY" license plate and an etched brass plaque with his signature. No surprise, there are only 14,000 miles on the odometer.