Recent News
| Mirroring the Internal Revenue Service Vehicle Tax Credit Program , Bank of America, (BAC) announced expansion of its $3000 reimbursement program to employees purchasing new hybrid vehicles to cover the entire U.S. and more than 185,000 employees, due in part to the success of its pilot program (instituted last June in Boston, Los Angeles and Charlotte). Read the full story here, as well as Bank Of America's Press Release. |
Neubert's Trades Berkshire Hathaway Charlie Munger on Ethanol
| Berkshire Hathaway Charlie Munger on Ethanol |
| Written by David Neubert | |||
When asked by a shareholder about ethanol, Charlie Munger made the following statement: 
"Running cars on corn is about the stupidest thing I ever heard of. Our government is under tremendous political pressure [to keep pushing and supporting corn ethanol] even though it makes no sense." He goes on to state an unpopular view in Nebraska, "More energy is used producing ethanol than it creates and that's without considering the damage to the topsoil producing fuel when we could be producing food." Munger further states that it's silly to drive up the price of food in order to provide an uneconomic fuel, as well as a dumb government policy. Mr. Buffett said, "Well Charlie, we'll be sneaking you out of Omaha tonight."
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