May 13, 2016
By Brian Soloman
The Yahoo auction just got a few new wealthy bidders. (click here)
On Friday afternoon, Reuters reported that the world’s third-richest man, Berkshire Hathaway chairman Warren Buffett is behind a consortium of investors bidding for some of Yahoo’s internet assets. Also on board: Quicken Loans founder and Cleveland Cavaliers owner Dan Gilbert.
Why Buffett and Gilbert would be interested in a declining business like Yahoo is unclear–although in a possibly unrelated move, Yahoo Finance did host the first livestream of Berkshire Hathaway’s annual shareholder meeting. Last quarter, Yahoo reported $0.08 in adjusted earnings and $1.09 billion in revenue, both down significantly from the same quarter a year ago. At the time, Yahoo executives said the strategic alternative process was the company’s “top priority.”
Verizon has long been the rumored front runner for Yahoo, ever since it bought AOL’s similar media and advertising business in June of last year. The wireless giant wants to create an advertising technology platform that leverages the company’s deep knowledge about its more than 140 million customers....
The USA Air Force pieces B-52s together while the wealthiest Americans pay the lowest tax rate in 50 years.
"The Buffett Rule: A Principle of Tax Fairness" (click here)
The average tax rate paid by the very highest-income Americans has fallen to nearly the lowest rate in over 50 years. The wealthiest 1-in-1,000 taxpayers pay barely a quarter of their income in Federal income and payroll taxes today—half of what they would have contributed in 1960. And, the top 400 richest Americans—all making over $110 million—paid only 18 percent of their income in income taxes in 2008.
By Brian Soloman
The Yahoo auction just got a few new wealthy bidders. (click here)
On Friday afternoon, Reuters reported that the world’s third-richest man, Berkshire Hathaway chairman Warren Buffett is behind a consortium of investors bidding for some of Yahoo’s internet assets. Also on board: Quicken Loans founder and Cleveland Cavaliers owner Dan Gilbert.
Why Buffett and Gilbert would be interested in a declining business like Yahoo is unclear–although in a possibly unrelated move, Yahoo Finance did host the first livestream of Berkshire Hathaway’s annual shareholder meeting. Last quarter, Yahoo reported $0.08 in adjusted earnings and $1.09 billion in revenue, both down significantly from the same quarter a year ago. At the time, Yahoo executives said the strategic alternative process was the company’s “top priority.”
Verizon has long been the rumored front runner for Yahoo, ever since it bought AOL’s similar media and advertising business in June of last year. The wireless giant wants to create an advertising technology platform that leverages the company’s deep knowledge about its more than 140 million customers....
The USA Air Force pieces B-52s together while the wealthiest Americans pay the lowest tax rate in 50 years.
"The Buffett Rule: A Principle of Tax Fairness" (click here)
The average tax rate paid by the very highest-income Americans has fallen to nearly the lowest rate in over 50 years. The wealthiest 1-in-1,000 taxpayers pay barely a quarter of their income in Federal income and payroll taxes today—half of what they would have contributed in 1960. And, the top 400 richest Americans—all making over $110 million—paid only 18 percent of their income in income taxes in 2008.
