Forbes.com
Buffett Sees Stock Holdings Plunge
Doers and doings in business, entertainment and technology:
Move aside, Jacko, this is Britney's decade. Or her 15 minutes, at least.Britney Spears' new album, "Britney", sold 754,744 copies in the week ended Nov.11, replacing Michael Jackson's last record from the top of the charts. Jackson, who ruled pop culture in the 1980s, saw his "Invicible" drop to number three, behind the latest compilation by Pink Floyd, the group that reigned in the 1970s. Spears, 19, is the first female solo act to hit number one with her first three records, though sales were below her previous effort, " Oops!...I Did It Again". Spears made $38.5 million in the past year, helping land her fourth on the Forbes Celebrity 100 list.
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Even though he didn't get burned by the high-tech bubble burst,Warren Buffetthas found little solace in his old-economy stock picks this year. Buffett's Berkshire Hathaway held $27.2 billion of stock at the end of September, according to Securities and Exchange Commission files, a $10.4 billion drop compared to the end of last year. The likely culprits? The billionaire's 11% interest in American Express , 8% stake in Coca-Cola and 9% holding in Gillette . Shares of all those companies have fallen recently, but the master long-term investor is thought to have bought many of the shares of those companies at prices far below today's. There is a reason, after all, that Buffett is the world's second-richest man.More...
Nothing came easy forJacques Nasserduring his tenure as chief executive officer at Ford Motor . That's why it's fitting that instead of receiving a golden parachute on his ouster, Nasser got a pair of golden handcuffs. The 33-year veteran of the Detroit-based firm could stand to lose millions of dollars in severance if he engages in "competitive activity." In addition, Nasser's stock-laden compensation package will be tied to the performance of Ford shares, so that if the company profits, Nasser profits. That's a bit rough for the Australian former chief--especially since he will not have a chance to affect the company's performance after being fired last month. But fear not for old Jacques--he was one of the best-paid CEOs last year, pulling in about $12.1 million in salary and bonuses.More...
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