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Politics : Formerly About Applied Materials

AMAT 265.39

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Dec 2 3:59 PM EST

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To: StanX Long who wrote (55321)	11/10/2001 2:45:19 AM
From: StanX Long	Read Replies (1) of 70976

WIRE: 11/09/2001 8:46 pm ET Huge WTC Claims Hurts Berkshire Hathaway abcnews.go.com By Bill Rigby NEW YORK (Reuters) - Warren Buffett warned that the upsurge in insurance premiums after Sept. 11 will not last as long as expected, and that a recession is already biting at profits, as his Berkshire Hathaway Inc. <BRKa.N> reported a large third-quarter net loss, dragged down by massive claims from the destruction of the World Trade Center. Berkshire, which set aside $2.275 billion for the Sept. 11 attack, reported a net loss of $679 million, or $445 per share in the quarter, including realized investment gains. That compared with a profit of $797 million, or $523 per share, in the year-ago quarter.

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