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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (55320)	11/10/2001 2:35:52 AM
From: StanX Long	Read Replies (2) of 70976

Berkshire Posts Third-Quarter Loss Due to Terrorist Attacks Friday, November 09, 2001 foxnews.com OMAHA, Neb. — Warren Buffett's investment company, Berkshire Hathaway Inc., had such a rough third quarter that the quarterly earnings report came with a rare letter of explanation from the multibillionaire investor. For the three months ended Sept. 30, Berkshire lost $679 million, compared with a $797 million profit in the year-ago period. In per-share terms, Berkshire lost $445 compared with a $523 gain during the same period last year. The loss was due to a $2.28 billion charge for pre-tax insurance losses on Sept. 11; the company had previously said it expected a $2.2 billion charge. The charge includes $1.7 billion in losses at General Re and $575 million at Berskshire Hathaway's Reinsurance Group.

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