From Dealbook: Warren E. Buffett continues to collect benefits from the financial crisis. General Electric said on Tuesday that it would pay back the $3 billion investment that his company, Berkshire Hathaway, made in the depths of the crisis, netting Mr. Buffett a tidy profit. He will get back his principal, a $300 million bonus, plus any accrued and unpaid dividends, according to a regulatory filing by G.E. on Tuesday. General Electric said it would repay the investment on Oct. 17.
Mr. Buffett has been quick to capitalize on the problems of financial companies, forging deals at beneficial terms to Berkshire. In 2008, just before striking an agreement with G.E., Mr. Buffett picked up a $5 billion stake in Goldman Sachs, the investment bank. This year, Goldman returned the $5 billion to Berkshire with an extra $500 million for paying back the investment early. For those having a “Senior Moment” the investment netted Mr. Buffett $1.7 billion, or roughly $190,000 a day.
Find out more at http://dealbook.nytimes.com/2011/09/13/general-electric-to-pay-back-warren-buffett/
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