Berkshire net sinks; Buffett says economy in shambles
http://www.reuters.com/article/topNews/idUSTRE51R0US20090228
Warren Buffett is generally considered to be one of the worlds smartest businessman/investors. If his company, Berkshire-Hathaway is falling on hard times, can there be any question about how bad things are?
Quote from the article:
"For all of 2008, profit at Berkshire fell 62 percent to a six-year low of $4.99 billion, or $3,224 per share, from $13.21 billion, or $8,548. Revenue fell 9 percent to $107.8 billion."
Sounds like the BROTHERS GRIMM have taken to writing scarey economic stories.
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