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Article: United States : Buffett s Wake-Up Call to Managers May Signal More Cost Cuts.
- Article from:
- TendersInfo
- Article date:
- November 7, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mamta03
Berkshire Hathaway Inc. s managers may deliver more cost cuts to Chief Executive Officer Warren Buffett after the billionaire replaced Richard Santulli as the head of a money-losing plane-leasing unit.
Berkshire executives have eliminated jobs and closed plants as the sale of bricks, jewelry and luxury flights suffered in the recession. The company, which reports third-quarter results today, may need further reductions, even as the U.S. recovers, said Jeff Matthews, founder of the hedge fund Ram Partners LP.
I don t think Berkshire hit the reset button as hard as other companies when it came to cutting costs, said Matthews, the ...