Stock News 2010: Eton Properties sees profits to reach P1-B mark in 2011

Image via Wikipedia
MANILA, Philippines – Eton Properties Philippines Inc. expects earnings to jump 43 percent to hit the P1-billion mark next year from its target of P700 million in 2010 as it continues to reap rewards from the boom in the residential sector.

The company is slated to deliver over 3,600 residential units in 2011 encompassing units in The Eton Residences Greenbelt, Eton Parkview Greenbelt and Belton Place, all in Makati, as well as Manila projects, Eton Baypark Manila, and tower 2 of One Archers Place in Taft Avenue, said Eton president Danilo Ignacio in a press briefing.

Eton Emerald Lofts in Ortigas Center, Pasig, the island lots in South Lake Village and lots in Riverbend, both in Eton City in Sta. Rosa, Laguna, and additional clusters of The Manors of subsidiary Belton Communities' North Belton Communities project, are also slated for turnover.

Also seen to contribute to the firm’s earnings next year is the income stream from the company's initial office and commercial projects.

http://www.mb.com.ph/node/292412/eton-propertie

International News 2010: Howard Buffett Says Don't Expect Third-Generation at Berkshire

Image via Wikipedia

Howard Buffett, the Berkshire Hathaway Inc. director and potential successor to his father Warren Buffett as chairman, said he doesn’t expect a third generation of the family to lead the firm.

“We all go out and do the things that we want to do and the things we think we can do best,” Howard Buffett, 55, said yesterday in an interview at a World Food Prize conference in Des Moines, Iowa. “It’s very unusual to have a second or third generation that really are the best to fit into something that you’ve created much earlier.”

Warren Buffett, after building Berkshire through four decades as chairman and chief executive officer, has made succession plans for after his retirement or death. The company board will split Buffett’s duties among more than one manager. Warren Buffett said in 2006 that his son Howard, a farmer and author, would safeguard Berkshire as non-executive chairman.

“My dad has said to me what he would expect, and I think I can do it,” Howard Buffett said. “My job is to make sure Berkshire doesn’t change. And that’s about all he’s said to me.”

Howard is the second of Warren Buffett’s three children and the only one on Berkshire’s board. Asked if the family’s next generation had a place at Berkshire, Howard Buffett said, “probably not.” His son, Howard W. Buffett, has an agriculture-related job for the U.S. Department of Defense.

http://www.bloomberg.com/news/2010-10-14/step-out-of-that-ferrari-and-ask-am-i-a-corvette-guy-jason-h-harper.html

Related articles

• Plenty of Ways to Invest Like Warren Buffett (seekingalpha.com)
• Warren Buffett Keeps Selling Moody's Stock (blogs.wsj.com)
• Warren Buffett: A Bull in Cow Country (dealbook.blogs.nytimes.com)
• Buffett Issues Bearish Warning on Euro (dealbook.blogs.nytimes.com)