Berkshire to Pay $4.5 Billion for Pritzkers' Marmon (Bloomberg)
WaBu's Berkshire Hathaway will spend $4.5 billion for a 60 percent stake in privately-held Marmon, a Pritzker-family held diversified services firm, whose businesses include hotels and rail services. Buffett describes Marmon as, "our kind of company." Sounds true. Nothing too splashy or flashy. Just some good old Graham & Dodd style operations. Now wait for the spate of stories about how Buffett is back, along with big lists of companies in play.
Retailers hope post-Christmas sales can save the season (USA Today)
And there you have it. More analysis here from Barry.
Amazon.com Wraps Up Its 13th Holiday With Best Season Ever
On the other hand, if you're Amazon.com, and you're the biggest e-tailer in the world, then you had a good season. If there's one statistic to keep in mind, this is it: "If you lined up all of the GPS units Amazon.com sold this holiday, they would make a trail from New York to Philadelphia; however, a new trail wouldn’t be necessary with the use of a GPS."
Home prices post record drop (CNNMoney)
Well, it looks like were were premature in calling a bottom. Several months ago, we said home prices were due to rise, since the Realtors had dropped their bullish spin. That's what you get for relying too much on contrarian indictors. Never again! Anyway, yeah, October. Record fall in house prices.
Luxury Air Travel: Still Not Proven (Felix Salmon)
On the decline of MaxJet.