It did not take long to find a web site dedicated to it, www.cutcapbalancepledge.com The Pledge is very simple:
Cut – Substantial cuts in spending that will reduce the deficit next year and thereafter.
Cap – Enforceable spending caps that will put federal spending on a path to a balanced budget.
Balance – Congressional passage of a Balanced Budget Amendment to the U.S. Constitution — but only if it includes both a spending limitation and a super-majority for raising taxes, in addition to balancing revenues and expenses.
I think the pledge is the common sense position for a solution to our nation’s budgetary and debt crisis. Left unchecked
The issues and news surrounding the U.S. Deficit has been sort of like low-level background noise as ever since I was a child. However its size as a percentage of the Gross Domestic Product and the size of the interest payments on the debt as a percentage of the Federal Budget has been growing ever louder like the sounds of thunder on an ever approaching thunder-storm.
I thought I would to highlight a recent article on the topic by
Later tonight the Greek parliament will vote on a five-year plan of budget cuts, tax raises and privatization in order to win a bailout package consisting of EU/IMF funds. While the prospects of the parliamentary vote, its expected passage, and the subsequent saving of the French banks, have somewhat calmed the markets; I am somewhat surprised how easily the market seems to
It has been widely reported, and as Reuters is reporting, that Warren Buffett now feels David Sokol deceived him and broke the law. The Wall Street Journal is reporting that this apparently serious enough for the Board of Directors of Bershkshire Hathaway is considering filing a lawsuit against David Sokol. For David Sokol what appears to the be the most problematic is the revelation that he
Thanks to our friends at the Wall Street Journal I found a copy of Berkshire Hathaway’s Board of Directors Audit Committee Report on David Sokol’s trading in the shares o Lubrizol. A copy of the report can be found here: http://online.wsj.com/public/resources/documents/Berk_Board.pdf
I am going to read through the report, the Berkshire Memo on Insider Trading and be back with my comments in the next day or so. I’ll let you know what I think happened and what I think lies in store for Mr. Sokol.
by sterlingreporter • • Comments Off on A Little Bit More on Warren Buffett, Berkshire Hathaway, and David Sokol
This weekend saw the annual Berkshire Hathaway shareholders meeting. Obviously the hot topic of conversation; David Sokol. So, I thought I would take a few quick minutes to comment on some of the recent items in the press and items posted to our main site.
The Wall Street Journal reports that Warren Buffett claims David Sokol misled him: http://blogs.wsj.com/deals/2011/05/01/warren-buffett-on-david-sokol-no-question-he-misled-me/
It appears that following those remarks by Buffett, David Sokol’s attorney decided to issue a statement defending Sokol, and criticizing Buffett and Berkshire Hathaway. http://blogs.wsj.com/deals/2011/04/30/david-sokol-defends-himself-against-warren-buffett/
Thanks to our friends at Bloomberg we have found we have found a copy of the Mason Kirby lawsuit over the David Sokol, Lubrizol trades. A copy of which can be found here: http://media.bloomberg.com/bb/avfile/r3SCX27MJMSg
I’ll be back later with some additional comments once I have had a chance to read the complaint in greater detail.
Thanks to our friends at the Wall Street Journal we found a copy of the Berkshire Hathaway memo on Insider Trading Policies and Procedures. A copy of it can be found at the following link: http://s.wsj.net/public/resources/documents/BerkApr6_2011.pdf
It has been a couple of weeks since Warren Buffett’s startling announcement that David Sokol bought shares of Lubrizol for his personal account ahead of Berkshire’s acquisition of the company. For a time it looked like Warren’s efforts to get out in front of the issue with the press had been successful. However, last week Reuters reported on April 19th, that “Berkhire, Buffet Sued Over Sokol’s Trades.” I thought that now might be a good time to take a look at Mr. Sokol’s activity, what he has done wrong, and
On the Sterling Reporter Home Page we cover six (6) main areas of news; the Financial Markets, Business News, Consumer & Personal Finances, International News, Technology related Business News, and Green/Environmental News. This is where we try to cover the most important stories of the day. Our top section obviously tries to highlight what we feel are the 8-12 most important stories and news items. The remainder of the page focuses on what we consider the items that impact us the most; financial & commodities market, major business news, personal & consumer news, and international news. With technology playing such an important function in our every changing world, the “Tech” section tries to keep us up to date on the important developments in the tech world. The “Green Zone” is kind of a catch all area that collects environmental and other scientific news.