Billionaire Warren Buffett has assured investors that Berkshire Hathaway will be fine when he's no longer around to lead the conglomerate.
Buffett said Norfolk Southern “handled it terribly” and was “tone deaf” in their initial response to that derailment. He pointed out that after, CEO Katie Farmer was on a plane right away to respond to the crash. Norfolk Southern’s CEO Alan Shaw has repeatedly promised to make things right in East Palestine, but he was slow to meet with residents after the derailment and the railroad missed one of the initial community meetings to answer residents’ questions.
Addressing the broader economy, Buffett said inflation remains a concern and that the reports he sees from Berkshire’s businesses point to a economic slowdown. “We haven’t changed our course in 58 years,” Buffett said. “We want to buy good businesses that are run by people we like and trust at a decent price, and we’ll keep doing that. And we’ll keep buying treasury bills every Monday.”Buffett did reconsider a $4 billion investment he made last year in chipmaker Taiwan Semiconductor after he said he re-evaluated the geopolitical risk that China could intervene in that country and disrupt the company’s operations.
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