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Tag: omaha

  • The best wit and wisdom from Warren Buffett and Charlie Munger at Berkshire Hathaway’s annual meeting

    The best wit and wisdom from Warren Buffett and Charlie Munger at Berkshire Hathaway’s annual meeting

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    Shareholders watch Warren Buffett and Charlie Munger from the overflow room during the Berkshire Hathaway annual meeting on Saturday, May 6, 2023, in Omaha, Neb.

    Rebecca H. Gratz | AP

    Berkshire Hathaway‘s annual shareholder meeting on Saturday included dozens of questions spanning topics such as investing strategy, artificial intelligence and politics for the legendary investors at the helm of the conglomerate: Chairman Warren Buffett and Vice Chairman Charlie Munger

    But it wasn’t all strictly business. Buffett and Munger — who are 92 and 99 years old, respectively — cracked jokes and shared wisdom from decades in the investing world throughout the more than five hours spent answering questions.

    Tens of thousands congregated at the CHI Health Center in Omaha, Nebraska were left laughing on multiple occasions by quips from the nonagenarians.

    Here’s some of the best moments from the “Oracle of Omaha” and Munger:

    King Charles and King Charlie

    Buffett referenced the coronation of King Charles III in England also scheduled for Saturday as he introduced Munger. Charles was the 40th monarch to be crowned at Westminster Abbey in a tradition that dates back to 1066, according to NBC News.

    “When I woke up this morning, I realized that we had a competitive broadcast going out somewhere in the U.K. … They were celebrating a ‘King Charles,’ and we’ve got our own ‘King Charles’ here today.”

    More people do ‘dumb things’

    Munger said value investors should be prepared to get smaller returns as competition intensifies. But Buffett said there’s still opportunities given so many people have a short-term view and often do stupid things in a panic.

    What gives you opportunities is other people doing dumb things … In the 58 years we’ve been running Berkshire, I would say there’s been a great increase in the number people doing dumb things, and they do big, dumb things.

    ‘Deworsification’

    Munger said it’s “insane” to teach that one has to diversify when investing in common stocks.

    One of the inane things that’s taught in modern university education is that a vast diversification is absolutely mandatory in investing in common stocks … That is an insane idea. It’s not that easy to have a vast plethora of good opportunities that are easily identified. And if you’ve only got three, I’d rather be in my best ideas instead of my worst.

    And he said investors should know themselves and their strengths.

    We’re not so smart, but we kind of know where the edge of our smartness is … That is a very important part of practical intelligence. … If you know the edge of your own ability pretty well, you should ignore most of the notions of our experts about what I call ‘deworsification’ of portfolios.

    ‘Hold the godd— stock’

    Munger had simple advice when it comes to Berkshire Hathaway in an estate. And he didn’t mince words sharing it.

    Well, at Berkshire, we have a simple problem of estate planning. Just hold the godd— stock.

    Write your obituary and live up to it

    Buffett offered advice on how to live life and spend and invest in a way that isn’t detrimental.

    “You should write your obituary and then try to figure out how to live up to it. That’s something you get wiser on as you go along. … You just want to make sure you don’t make any mistakes that take you out of the game or come close to taking you out of your game. You should never have a night when you’re worried about investing, assuming you have any money to invest at all. … Spend a little bit less than you earn, and you can spend a little bit more than you earn. … Then you’ve got debt, and chances are you’ll never get out of debt. I’ll make an exception in terms of a mortgage on your house.”

    Not smarter, but wiser

    Buffett said investors don’t need to be experts in technical aspects of businesses if they can understand fundamentals and commit to always learning.

    We’re interested in owning a wonderful business forever. … We do learn a lot as we go along. … We’re learning all the time how consumers behave. I’m not going to be able to learn the technical aspects of businesses. It’d be nice if I knew it, but it isn’t essential. … We’ve got a business at Apple … I don’t understand the phone at all, but I do understand consumer behavior. … We’re learning all the time, from all of our businesses. … We don’t get smarter over time, we … get a little wiser, though, following it over time.

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  • Jason Derulo tips Nebraska restaurant waiter $5,000, enough to cover a semester at college

    Jason Derulo tips Nebraska restaurant waiter $5,000, enough to cover a semester at college

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    A restaurant waiter at Charleston’s Restaurant in Omaha, Nebraska, made a TikTok thanking singer-songwriter Jason Derulo for tipping him $5,000 — enough to pay for a semester at the waiter’s college.

    The waiter, Jordan Schaffer, posted the video Tuesday saying that serving the singer and Derulo’s family will be something he never forgets, while expressing appreciation for the music star’s generous actions.

    “Hey Jason, thank you, you just paid for a semester of my college. I can’t say thank you enough,” Schaffer said in the video. “I hope you and your family have a wonderful time in Omaha, and I hope you see us again. Thank you so much.”  

    Before ending the video, Schaffer showed his followers the receipt which had the hefty tip on it. The total bill, including the tip, amounted to $5,795.

    Derulo commented under the video that Schaffer seemed “like a great person” and thanked him “for taking such great care of our fam. Keep spreading the love bro.”

    Derulo’s gesture adds to a list of generous actions by the artist. In 2020, Derulo, along with actor Will Smith, surprised Aiden Yielding — a 14-year-old who had been undergoing chemotherapy for leukemia — with a virtual visit, according to CBS Texas. 

    At the time, Yielding’s dad had garnered recognition from people around the world for his efforts to bring awareness to childhood cancer.

    Tre’Vaughn Howard


    trevaughn-howard.jpg

    Tre’Vaughn Howard is a social media producer and trending content writer for CBS News.

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  • Police kill man who opened fire in Omaha Target

    Police kill man who opened fire in Omaha Target

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    Police kill man who opened fire in Omaha Target – CBS News


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    A man armed with an AR-15 style rifle opened fire in a Target in Omaha, Nebraska, police said. Police shot and killed him, and nobody else was injured.

    Be the first to know

    Get browser notifications for breaking news, live events, and exclusive reporting.


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  • Feds say railroad must deliver grain to California chickens

    Feds say railroad must deliver grain to California chickens

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    OMAHA, Neb. — Federal regulators have ordered Union Pacific railroad to make sure a livestock producer gets the grain it needs in California to prevent millions of chickens and hundreds of thousands of cattle from starving.

    The U.S. Surface Transportation Board told the railroad it must improve service to Foster Farms to keep it from running out of feed for livestock it raises. It’s is the second time in the past year regulators issued an emergency order related to delivery problems at Foster Farms, which is based in Livingston, California, as the railroad struggled with a shortage of crews.

    This time, however, Union Pacific blamed the weather for its problems. Spokesman Mike Jaixen said last month’s extreme cold and blizzard conditions slowed deliveries in 20 of the 23 western states the railroad operated in, and additional problems are possible because of the forecast for more severe winter weather.

    “Union Pacific remains committed to serving all of our customers as efficiently as possible, including Foster Farms, weather permitting,” Jaixen said.

    Foster Farms called on the STB to get Union Pacific to give priority to grain trains heading from the Midwest to the livestock producer’s facilities in Traver, Turlock, and Delhi, California.

    Union Pacific said the problems at Foster Farms should improve once five trains hauling corn that are already en route arrive, but Jaixen declined to provide an update on those trains Tuesday. The railroad is submitting updates to the STB, but it wants to keep that customer-specific information confidential.

    Foster Farms attorney Thomas Wilcox said in a letter to regulators that the company has little faith that UP will deliver on its promises because the railroad has failed to deliver any of its grain trains on time in the past two weeks.

    So in the meantime, Foster Farms has been buying dozens of truckloads of expensive corn to keep its chickens alive while it waits for the grain trains to be delivered, but those truck deliveries can’t continue to meet its needs.

    Union Pacific said its performance has improved since the spring when Foster Farms and many other shippers went before the STB to complain about chronic delivery problems at most of the major freight railroads that were disrupting their businesses.

    UP and the other major freight railroads have hired hundreds of new workers since the start of the year to help them better handle all the shipments. But railroad executives acknowledge that their service still isn’t meeting customer expectations and must continue to improve.

    Regulators also recently criticized Union Pacific’s practice of imposing limits on customer shipments as part of its effort to clear up congestion along the Omaha, Nebraska, based railroad’s network of 32,400 miles (about 52,000 kilometers) of track across the Western half of the United States.

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  • Feds say railroad must deliver grain to California chickens

    Feds say railroad must deliver grain to California chickens

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    OMAHA, Neb. — Federal regulators have ordered Union Pacific railroad to make sure a livestock producer gets the grain it needs in California to prevent millions of chickens and hundreds of thousands of cattle from starving.

    The U.S. Surface Transportation Board told the railroad it must improve service to Foster Farms to keep it from running out of feed for livestock it raises. It’s is the second time in the past year regulators issued an emergency order related to delivery problems at Foster Farms, which is based in Livingston, California, as the railroad struggled with a shortage of crews.

    This time, however, Union Pacific blamed the weather for its problems. Spokesman Mike Jaixen said last month’s extreme cold and blizzard conditions slowed deliveries in 20 of the 23 western states the railroad operated in, and additional problems are possible because of the forecast for more severe winter weather.

    “Union Pacific remains committed to serving all of our customers as efficiently as possible, including Foster Farms, weather permitting,” Jaixen said.

    Foster Farms called on the STB to get Union Pacific to give priority to grain trains heading from the Midwest to the livestock producer’s facilities in Traver, Turlock, and Delhi, California.

    Union Pacific said the problems at Foster Farms should improve once five trains hauling corn that are already en route arrive, but Jaixen declined to provide an update on those trains Tuesday. The railroad is submitting updates to the STB, but it wants to keep that customer-specific information confidential.

    Foster Farms attorney Thomas Wilcox said in a letter to regulators that the company has little faith that UP will deliver on its promises because the railroad has failed to deliver any of its grain trains on time in the past two weeks.

    So in the meantime, Foster Farms has been buying dozens of truckloads of expensive corn to keep its chickens alive while it waits for the grain trains to be delivered, but those truck deliveries can’t continue to meet its needs.

    Union Pacific said its performance has improved since the spring when Foster Farms and many other shippers went before the STB to complain about chronic delivery problems at most of the major freight railroads that were disrupting their businesses.

    UP and the other major freight railroads have hired hundreds of new workers since the start of the year to help them better handle all the shipments. But railroad executives acknowledge that their service still isn’t meeting customer expectations and must continue to improve.

    Regulators also recently criticized Union Pacific’s practice of imposing limits on customer shipments as part of its effort to clear up congestion along the Omaha, Nebraska, based railroad’s network of 32,400 miles (about 52,000 kilometers) of track across the Western half of the United States.

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  • Warren Buffett jumps into local politics to fight streetcar

    Warren Buffett jumps into local politics to fight streetcar

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    OMAHA, Neb. — Billionaire investor Warren Buffett broke with his practice of staying out of local politics to urge his hometown of Omaha to abandon its planned streetcar project because he says it’s too expensive and not as flexible as buses.

    Buffett wrote a letter to the editor of the Omaha World-Herald and met with the mayor this week to lobby against the $306 million project and urge the city to let residents vote on it.

    But city officials are moving forward with the streetcar because they believe it will spur development, including Mutual of Omaha’s planned $600 million headquarters tower downtown.

    Buffett said in his letter that he decided to make an exception to his policy of staying out of local issues even though “it can be off-putting to many to have a wealthy 92-year-old tell them what is good for their future.” He said he wanted to weigh in on the streetcar because it’s “going to be hugely expensive if implemented.”

    “Residents can be far better served by extended or more intensive service by the bus system,” Buffett wrote. “As population, commerce and desired destinations shift, a bus system can be re-engineered. Streetcars keep mindlessly rolling on, fueled by large public subsidies. Mistakes are literally cast in cement.”

    Buffett didn’t respond Thursday to questions about his letter.

    The proposed streetcar would start less than 20 blocks away from the midtown home Buffett has lived in for decades and run right past the headquarters of his Berkshire Hathaway conglomerate on the way downtown.

    Mutual of Omaha officials said when they announced their new office tower that is expected to become their namesake city’s tallest building that the new streetcar was a key part of its plan because it would provide convenient access to the new headquarters. The company declined to respond directly to Buffett’s criticisms Thursday.

    The city is banking on new tax revenue from other development expected along the streetcar line to pay for the project. And the City Council has already approved the bonds that will pay for it.

    Buffett said that he would vote no on the project if he was given the chance, but the city isn’t required to hold an election. The project has been moving forward with little significant public opposition since it was announced in January alongside Mutual’s new headquarters.

    Omaha Mayor Jean Stothert told the Omaha World-Herald that she met with Buffett Wednesday to discuss the streetcar and development in the city.

    “I have great admiration for Mr. Buffett,” Stothert said, “but I respectfully disagree with his position on the streetcar.”

    Buffett’s tiny headquarters staff of about two dozen people isn’t likely to add to the number of people using the streetcar even if it does go right past their front door because it will only extend about seven blocks west of the office.

    But the conglomerate Buffett leads as chairman and CEO owns more than 90 companies worldwide, including the BNSF railroad, Geico insurance, several major utilities and an eclectic assortment of manufacturing and retail businesses such as Dairy Queen and Precision Castparts. Berkshire also holds about $300 billion worth of stocks, including major investments in Apple, Coca-Cola and Bank of America.

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  • Warren Buffett jumps into local politics to fight streetcar

    Warren Buffett jumps into local politics to fight streetcar

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    OMAHA, Neb. — Billionaire investor Warren Buffett broke with his practice of staying out of local politics to urge his hometown of Omaha to abandon its planned streetcar project because he says it’s too expensive and not as flexible as buses.

    Buffett wrote a letter to the editor of the Omaha World-Herald and met with the mayor this week to lobby against the $306 million project and urge the city to let residents vote on it.

    But city officials are moving forward with the streetcar because they believe it will spur development, including Mutual of Omaha’s planned $600 million headquarters tower downtown.

    Buffett said in his letter that he decided to make an exception to his policy of staying out of local issues even though “it can be off-putting to many to have a wealthy 92-year-old tell them what is good for their future.” He said he wanted to weigh in on the streetcar because it’s “going to be hugely expensive if implemented.”

    “Residents can be far better served by extended or more intensive service by the bus system,” Buffett wrote. “As population, commerce and desired destinations shift, a bus system can be re-engineered. Streetcars keep mindlessly rolling on, fueled by large public subsidies. Mistakes are literally cast in cement.”

    Buffett didn’t respond Thursday to questions about his letter.

    The proposed streetcar would start less than 20 blocks away from the midtown home Buffett has lived in for decades and run right past the headquarters of his Berkshire Hathaway conglomerate on the way downtown.

    Mutual of Omaha officials said when they announced their new office tower that is expected to become their namesake city’s tallest building that the new streetcar was a key part of its plan because it would provide convenient access to the new headquarters. The company declined to respond directly to Buffett’s criticisms Thursday.

    The city is banking on new tax revenue from other development expected along the streetcar line to pay for the project. And the City Council has already approved the bonds that will pay for it.

    Buffett said that he would vote no on the project if he was given the chance, but the city isn’t required to hold an election. The project has been moving forward with little significant public opposition since it was announced in January alongside Mutual’s new headquarters.

    Omaha Mayor Jean Stothert told the Omaha World-Herald that she met with Buffett Wednesday to discuss the streetcar and development in the city.

    “I have great admiration for Mr. Buffett,” Stothert said, “but I respectfully disagree with his position on the streetcar.”

    Buffett’s tiny headquarters staff of about two dozen people isn’t likely to add to the number of people using the streetcar even if it does go right past their front door because it will only extend about seven blocks west of the office.

    But the conglomerate Buffett leads as chairman and CEO owns more than 90 companies worldwide, including the BNSF railroad, Geico insurance, several major utilities and an eclectic assortment of manufacturing and retail businesses such as Dairy Queen and Precision Castparts. Berkshire also holds about $300 billion dollars worth of stocks, including major investments in Apple, Coca-Cola and Bank of America.

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  • Union Pacific railroad shipping limits generate complaints

    Union Pacific railroad shipping limits generate complaints

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    OMAHA, Neb. — Federal regulators and shippers are questioning Union Pacific’s decision to temporarily limit some businesses’ shipments as part of its effort to clear up congestion across the railroad.

    The head of the U.S. Surface Transportation Board, Martin Oberman, said Wednesday he’s concerned about Union Pacific’s increasing use of the embargoes because they disrupt operations of the businesses that rely on the railroad, and they haven’t seemed to help its performance significantly.

    Union Pacific has ordered companies to remove some of their railcars from the network more than 1,000 times this year, up from 140 times in 2018, according to the transportation board.

    An embargo can force a business to consider cutting production or resorting to more expensive shipping options, like trucking, if that’s even an option. And they can make it harder for other businesses to get the key products, such as shipments of chlorine used to treat water, or grain for feeding animals.

    “The customer is bearing the brunt of the pain. You guys are still making money,” Surface Transportation Board member Robert Primus said, addressing Union Pacific executives during two days of board hearings this week.

    For much of this year, Union Pacific and the other major freight railroads have struggled to deliver products on time and handle all the shipments companies want to move because they were short on crews coming out of the pandemic. The railroads have been improving throughout the year as they hired more workers, but regulators say they’re still lagging behind where they should be. Union Pacific is using significantly more embargoes than any other railroad.

    At the hearings, Union Pacific executives defended their practices, arguing that their embargoes are needed to help get the railroad running better. CEO Lance Fritz said the embargoes are targeted and temporary measures that shouldn’t place an undue burden on individual businesses.

    “We only use embargoes when necessary and when no longer necessary, we end them,” Fritz said.

    But several shippers and trade groups testified that the embargoes are hurting their businesses.

    Cargill executive Brock Lautenschlager said Union Pacific’s actions make it hard to plan. Last month, the railroad told Cargill it needed to pull 130 railcars it owns from the network within a week or face shipment limits at five of its plants. The agribusiness giant complied because it worried that an embargo could force it to shut down a plant.

    “We believe embargoes should be the exception not the norm,” Lautenschlager said.

    It’s accepted practice for railroads to temporarily place limits on shipments in extreme conditions when something outside their control, like a flood or bridge fire, hurts their ability to haul freight. Business groups, however, say they believe deep cuts in UP’s workforce are a major reason the Omaha, Nebraska-based railroad is having so much trouble meeting customer expectations.

    Oberman said there seems to be a direct correlation between the sharp drop in Union Pacific employees since 2018, as it overhauled its operations, and the increased use of embargoes. The number of train crews the railroad employed went from roughly 18,000 in 2018 to about 13,000 today and that includes all the hiring the railroad has done since the economy started to rebound from the pandemic.

    Greg Twist with grain processor Ag Processing Inc. compared the situation to going shopping at a grocery store and finding that the store refuses to hire more than one clerk, and then the store’s manager tells him he must come back at a certain time of day if he wants service. And unlike with groceries, his company generally can’t shop around to ship its goods because Union Pacific is the only railroad that serves several of its plants.

    Twist said Ag Processing should have “the freedom to decide how we operate our facilities” without having the railroad dictate how much they can produce with its shipping limits.

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  • Regulators and shippers complain about UP’s shipping limits

    Regulators and shippers complain about UP’s shipping limits

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    OMAHA, Neb. — Federal regulators and shippers are questioning Union Pacific’s decision to temporarily limit some businesses’ shipments as part of its effort to clear up congestion across the railroad.

    The head of the U.S. Surface Transportation Board, Martin Oberman, said Wednesday he’s concerned about UP’s increasing use of the embargoes because they disrupt operations of the businesses that rely on the railroad, and they haven’t seemed to help UP’s performance significantly.

    Union Pacific has ordered companies to remove some of their railcars from the network more than 1,000 times this year, up from 140 times in 2018, according to the transportation board.

    An embargo can force a business to consider cutting production or resorting to more expensive shipping options, like trucking, if that’s even an option. And they can make it harder for other businesses to get the key products, such as shipments of chlorine used to treat water, or grain for feeding animals.

    “The customer is bearing the brunt of the pain. You guys are still making money,” Surface Transportation Board member Robert Primus said, addressing Union Pacific executives during two days of board hearings this week.

    For much of this year, Union Pacific and the other major freight railroads have struggled to deliver products on time and handle all the shipments companies want to move because they were short on crews coming out of the pandemic. The railroads have been improving throughout the year as they hired more workers, but regulators say they’re still lagging behind where they should be. Union Pacific is using significantly more embargoes than any other railroad.

    At the hearings, Union Pacific executives defended their practices, arguing that their embargoes are needed to help get the railroad running better. CEO Lance Fritz said the embargoes are targeted and temporary measures that shouldn’t place an undue burden on individual businesses.

    “We only use embargoes when necessary and when no longer necessary, we end them,” Fritz said.

    But several shippers and trade groups testified that the embargoes are hurting their businesses.

    Cargill executive Brock Lautenschlager said Union Pacific’s actions make it hard to plan. Last month, the railroad told Cargill it needed to pull 130 railcars it owns from the network within a week or face shipment limits at five of its plants. The agribusiness giant complied because it worried that an embargo could force it to shut down a plant.

    “We believe embargoes should be the exception not the norm,” Lautenschlager said.

    It’s accepted practice for railroads to temporarily place limits on shipments in extreme conditions when something outside their control, like a flood or bridge fire, hurts their ability to haul freight. Business groups, however, say they believe deep cuts in UP’s workforce are a major reason the Omaha, Nebraska-based railroad is having so much trouble meeting customer expectations.

    Oberman said there seems to be a direct correlation between the sharp drop in UP employees since 2018, as it overhauled its operations, and the increased use of embargoes. The number of train crews UP employed went from roughly 18,000 in 2018 to about 13,000 today and that includes all the hiring the railroad has done since the economy started to rebound from the pandemic.

    Greg Twist with grain processor Ag Processing Inc. compared the situation to going shopping at a grocery store and finding that the store refuses to hire more than one clerk, and then the store’s manager tells him he must come back at a certain time of day if he wants service. And unlike with groceries, his company generally can’t shop around to ship its goods because UP is the only railroad that serves several of its plants.

    Twist said Ag Processing should have “the freedom to decide how we operate our facilities” without having the railroad dictate how much they can produce with its shipping limits.

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  • Bird flu prompts slaughter of 1.8 million chickens in Nebraska

    Bird flu prompts slaughter of 1.8 million chickens in Nebraska

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    Nebraska agriculture officials say another 1.8 million chickens must be killed after bird flu was found on a farm in the latest sign that the outbreak that has already prompted the slaughter of more than 50 million birds nationwide continues to spread.

    The Nebraska Department of Agriculture said Saturday that the state’s 13th case of bird flu was found on an egg-laying farm in northeast Nebraska’s Dixon County, about 120 miles north of Omaha, Nebraska.

    Just like on other farms where bird flu has been found this year, all the chickens on the Nebraska farm will be killed to limit the spread of the disease. The U.S. Department of Agriculture says more than 52.3 million birds in 46 states — mostly chickens and turkeys on commercial farms — have been slaughtered as part of this year’s outbreak.

    Nebraska is second only to Iowa’s 15.5 million birds killed with 6.8 million birds now affected at 13 farms.

    In most past bird flu outbreaks the virus largely died off during the summer, but this year’s version found a way to linger and started to make a resurgence this fall with more than 6 million birds killed in September.

    The virus is primarily spread by wild birds as they migrate across the country. Wild birds can often carry the disease without showing symptoms. The virus spreads through droppings or the nasal discharge of an infected bird, which can contaminate dust and soil.

    Commercial farms have taken a number of steps to prevent the virus from infecting their flocks, including requiring workers to change clothes before entering barns and sanitizing trucks as they enter the farm, but the disease can be difficult to control. Zoos have also taken precautions and closed some exhibits to protect their birds.

    Officials say there is little risk to human health from the virus because human cases are extremely rare and the infected birds aren’t allowed to enter the nation’s food supply. Plus, any viruses will be killed by properly cooking poultry to 165 degrees Fahrenheit.

    But the bird flu outbreak has contributed to the rising prices of chicken and turkey along with the soaring cost of feed and fuel.

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  • Car slams into Omaha building, sends bricks flying

    Car slams into Omaha building, sends bricks flying

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    DEGREES OUTSIDE WITH BREAKING NEWS RIGHT NOW. A CAR SLAMS INTO A BUILDING SENDING BRICKS FLYING. LOOK AT THIS. POLICE POSTED PICTURE ON TWITTER. THIS IS NEAR SEATTLE AND APPLETON. WE’RE TOLD ONE PERSON WENT TO THE HOSPITAL

    Car slams into Omaha building, sends bricks flying

    A driver slammed into an Omaha building, sending bricks flying early Friday morning.Omaha police posted a picture of the crash near Saddle Creek and Poppleton Avenue around 7:15 a.m. They said all lanes on Saddle Creek were open.Officials said one person was transported to the hospital with critical injuries.The crash remains under investigation.

    OMAHA, Neb. —

    A driver slammed into an Omaha building, sending bricks flying early Friday morning.

    Omaha police posted a picture of the crash near Saddle Creek and Poppleton Avenue around 7:15 a.m. They said all lanes on Saddle Creek were open.

    Officials said one person was transported to the hospital with critical injuries.

    The crash remains under investigation.

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  • Warren Buffett’s firm reports $2.7B loss on investment drop

    Warren Buffett’s firm reports $2.7B loss on investment drop

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    OMAHA, Neb. — Warren Buffett’s company again reported a loss — this time only $2.7 billion — because of a drop in the paper value of its investment portfolio in the third quarter, but most of its operating businesses performed well with the notable exception of Geico.

    Berkshire Hathaway reported a quarterly loss Saturday of $2.7 billion, or $1,832 per Class A share. That’s down from a $10.3 billion profit, or $6,882 per Class A share, a year ago when the stock market was soaring. In the second quarter of this year, Berkshire reported a $44 billion loss.

    Buffett has long said he believes Berkshire’s operating earnings are a better measure of the company’s performance because they exclude investment gains and losses, which can vary widely quarter to quarter. By that measure, Berkshire’s operating earnings jumped 20% to $7.76 billion, or $5,293.83 per Class A share. That’s up from $6.47 billion, or $4,330.60 per Class A share.

    The four analysts surveyed by FactSet expected Berkshire to report operating earnings per Class A share of $4,205.82 on average.

    Berkshire said its revenue grew 9% to $76.9 billion.

    Most of Berkshire’s eclectic assortment of more than 90 companies performed well during the quarter, but the key insurance unit of Geico reported a pre-tax underwriting loss of $759 million as the cost of auto claims soared along with the prices of used cars and car parts. Geico has been hampered by soaring costs since the second half of last year.

    Geico did increase its rates by 5.4% during the quarter, but that was almost entirely offset because it lost 4.6% of its customers.

    Another notable weak spot in the results was that BNSF railroad’s profit declined 6% to $1.44 billion as it hauled 5% less freight the cost of fuel soared and salary costs were adjusted up to reflect the raises railroads have agreed to pay their workers in tentative agreements with their 12 unions. Most of BNSF’s peers reported significant increases in profits during the quarter.

    Berkshire said its insurance units recorded after tax losses of $2.7 billion related to Hurricane Ian. That compares with $1.7 billion in catastrophic losses a year ago related to Hurricane Ida and major floods in Europe.

    Berkshire is sitting on nearly $109 billion cash even though it has been actively investing in the stock market this year, including putting more than $51 billion to work in the first quarter. That is up slightly from the $105.4 billion it held at the end of the second quarter because Berkshire’s businesses generated more cash than it spent. Although after the end of the third quarter, Berkshire did spend $11.6 billion in October to complete its acquisition of the Alleghany insurance conglomerate.

    Buffett’s biggest stock investments this year included buying roughly $12 billion worth of Occidental Petroleum stock and about $20 billion worth of Chevron shares. Besides those oil sector investments, Berkshire also bought more than 120 million shares of printer maker HP Inc. and bet big that Microsoft’s acquisition of Activision Blizzard will go through by buying nearly 70 million shares of the video game maker.

    Berkshire’s investment portfolio also includes major stakes in Apple, American Express, Bank of America and Coca-Cola stock.

    The Omaha, Nebraska, based conglomerate’s companies include manufacturing firms like aviation parts maker Precision Castparts and specialty chemical maker Lubrizol, retail firms like See’s Candy, Dairy Queen and Helzberg Diamonds and other companies like NetJets.

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  • Omaha officer shoots driver at annual Halloween block party

    Omaha officer shoots driver at annual Halloween block party

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    OMAHA, Nebraska — A Halloween celebration turned frantic after a man drove through a barricaded area and was shot by an Omaha police officer Monday night, police said.

    The Omaha World-Herald reports that the shooting occurred during the popular annual “Halloween on the Boulevard” block party in the Minne Lusa neighborhood in Omaha.

    Children and adults were out in the neighborhood trick-or-treating when a car drove recklessly through a blocked-off area shortly after 7 p.m., Omaha Police Lt. Neal Bonacci said.

    The driver of the vehicle was shot by an Omaha police officer and taken to Nebraska Medical Center with serious injuries. The name of the driver has not yet been released. Police say no one else was injured.

    Chrissy Lopez, a resident of the neighborhood, told the Omaha World-Herald that the vehicle initially drove slowly through the crowd as people yelled at the driver to stop.

    “He would stop and then drive a little more,” she said. “I heard his engine rev and people started screaming, and I thought ‘Oh no.’ And then I heard the gunshots, and everybody just started screaming and running and crying.”

    Police and firefighters were already on the scene for the block party, which is put on by the Miller Park Minne Lusa Neighborhood Association and draws thousands of people to the area each year.

    The shooting is under investigation.

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  • Bird flu case prompts Omaha zoo to close several exhibits

    Bird flu case prompts Omaha zoo to close several exhibits

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    OMAHA, Neb. (AP) — Omaha’s Henry Doorly Zoo & Aquarium has closed several exhibits and taken other precautions after one of its pelicans died from the bird flu.

    The zoo said one of its pink-backed pelicans that died on Thursday tested positive for the highly pathogenic avian influenza. A second pelican became ill Friday and was euthanized.

    As a precaution, the zoo has closed its Lied Jungle, Desert Dome and Simmons Aviary exhibits to the public for at least 10 days.

    The Omaha zoo was one of many across the country that closed down its aviaries and moved birds inside whenever possible to help protect them from avian influenza that is primarily spread by the droppings of wild birds.

    The zoo reopened its aviary in June after bird flu cases waned, but some cases continued to be reported across the country throughout the summer, and the outbreak has started to make a resurgence this fall.

    More than 47 million chickens and turkeys have been slaughtered in 42 states to limit the spread of bird flu during this year’s outbreak. Officials order entire flocks to be killed when the virus is found on farms. More than 6 million chickens and turkeys were slaughtered last month to limit the spread of the disease.

    The Omaha zoo also took precautions to protect its birds by limiting staff access to them and requiring workers to clean their shoes before entering areas where the birds are kept.

    The zoo said its pelicans live outside, so they do come into contact with wild birds. But the pelicans don’t come into contact with other zoo birds and no other birds in the zoo’s collection have shown symptoms of bird flu.

    “It is very important that Omaha’s Henry Doorly Zoo and Aquarium immediately tighten our protocols to protect our birds and guard against any potential spread of avian influenza,” Sarah Woodhouse, the zoo’s director of animal health, said in a statement. “This is important both to prevent infection of other zoo birds, and to prevent the virus from being dispersed off zoo grounds.”

    Unlike on farms, zoos are generally allowed to isolate and treat an infected bird as long as they take precautions to protect the other birds in their collections.

    Health officials emphasize that bird flu doesn’t jeopardize food safety because infected birds aren’t allowed into the food supply and properly cooking meat and eggs to 165 degrees Fahrenheit will kill any viruses.

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  • Pregnant south Omaha woman shares experience getting carjacked

    Pregnant south Omaha woman shares experience getting carjacked

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    A South Omaha woman who was carjacked this week at gunpoint tells KETV she is five months pregnant. Omaha police arrested four teenagers on Thursday and say they carried out the crime. Officers booked the teens on robbery and use of a weapon charges. They are all 13 to 17 years old. Police say the group carjacked the 27-year-old pregnant woman in a cul-de-sac at Spring Lake Park Wednesday afternoon. They say one of the teens shot a man in a separate vehicle as they were driving away. The soon-to-be mother, Perla, says she thought it was a joke at first because the carjackers were so young. Perla was just taking her dog out for a walk when a young man approached her and opened her passenger-side door pointing a gun. She did not want her face on camera, still recovering from the ordeal. “They told me ‘give me your money. I know you have money, give me your money.’ And like you said, they’re just kids so I was like is this a joke, is this, what?” Perla said.But it was no joke. Perla says the four carjackers took her keys and made a getaway. Police say they shot at another vehicle, striking the 32-year-old driver.”I started crying. I was at the park with my dog, I just took him out because he wasn’t feeling well. I just wanted to go on a walk with him,” Perla said.Omaha police eventually recovered Perla’s car in North Omaha along with another vehicle the suspects used in the carjacking. They say people commit this crime for a myriad of reasons: maybe it is on a dare, a challenge or for a joyride. It is much harder to sell a stolen vehicle or tear it down for scrap. Police say to lessen the chance of a carjacking, you have to be aware of your surroundings. “We always try to encourage people to look up while they’re walking to and from either a vehicle or into a business,” said Officer Chris Gordon, an Omaha police spokesperson. If someone aggressively approaches you to take your car, your well-being should come first. Use good judgement and be smart. Do not try to fight back if the robber is armed with something dangerous. It is also important to think like a witness: look for distinguishing features on the suspect and report the carjacking immediately to police. “If you walk out with your head up, looking around, making contact at people, making eye contact, that tends to minimize you as a perceived victim,” Gordon said.For Perla, the incident has left her shaken, but OK. She is looking forward to putting this behind her and being a mom. “She’s my first baby so I just don’t want anything to happen to her,” Perla said.Police also say it is best to park in well-seen areas, try to go in pairs to your car when possible and have your vehicle keys in hand ready to lock and unlock the doors quickly. The 32-year-old driver who was shot, Jorge Garcia, was rushed to the hospital with critical injuries, but authorities say those injuries are non-life-threatening.

    OMAHA, Neb. —

    A South Omaha woman who was carjacked this week at gunpoint tells KETV she is five months pregnant.

    Omaha police arrested four teenagers on Thursday and say they carried out the crime. Officers booked the teens on robbery and use of a weapon charges. They are all 13 to 17 years old.

    Police say the group carjacked the 27-year-old pregnant woman in a cul-de-sac at Spring Lake Park Wednesday afternoon. They say one of the teens shot a man in a separate vehicle as they were driving away.

    The soon-to-be mother, Perla, says she thought it was a joke at first because the carjackers were so young.

    Perla was just taking her dog out for a walk when a young man approached her and opened her passenger-side door pointing a gun. She did not want her face on camera, still recovering from the ordeal.

    “They told me ‘give me your money. I know you have money, give me your money.’ And like you said, they’re just kids so I was like is this a joke, is this, what?” Perla said.

    But it was no joke. Perla says the four carjackers took her keys and made a getaway. Police say they shot at another vehicle, striking the 32-year-old driver.

    “I started crying. I was at the park with my dog, I just took him out because he wasn’t feeling well. I just wanted to go on a walk with him,” Perla said.

    Omaha police eventually recovered Perla’s car in North Omaha along with another vehicle the suspects used in the carjacking. They say people commit this crime for a myriad of reasons: maybe it is on a dare, a challenge or for a joyride. It is much harder to sell a stolen vehicle or tear it down for scrap.

    Police say to lessen the chance of a carjacking, you have to be aware of your surroundings.

    “We always try to encourage people to look up while they’re walking to and from either a vehicle or into a business,” said Officer Chris Gordon, an Omaha police spokesperson.

    If someone aggressively approaches you to take your car, your well-being should come first. Use good judgement and be smart. Do not try to fight back if the robber is armed with something dangerous.

    It is also important to think like a witness: look for distinguishing features on the suspect and report the carjacking immediately to police.

    “If you walk out with your head up, looking around, making contact at people, making eye contact, that tends to minimize you as a perceived victim,” Gordon said.

    For Perla, the incident has left her shaken, but OK. She is looking forward to putting this behind her and being a mom.

    “She’s my first baby so I just don’t want anything to happen to her,” Perla said.

    Police also say it is best to park in well-seen areas, try to go in pairs to your car when possible and have your vehicle keys in hand ready to lock and unlock the doors quickly.

    The 32-year-old driver who was shot, Jorge Garcia, was rushed to the hospital with critical injuries, but authorities say those injuries are non-life-threatening.

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  • ‘Definitely pregnant’: New 23-year-old mom nearly dies from unexpected pregnancy

    ‘Definitely pregnant’: New 23-year-old mom nearly dies from unexpected pregnancy

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    An Omaha couple finds out they’re pregnant and then have the baby in just 48 hours. Doctors had to perform an emergency c-section to save mom and child.Peyton Stover, 23, thought she was just feeling the effects of her new job. “I’m a first-year teacher. I just thought it was normal to be tired all the time,” Stover said. Then her legs started to swell and after her mom pushed her to go to the doctor, Stover heard the news she never expected. “They ran the test again she said, ‘It’s definitely positive. We’re going to do an ultrasound,’” Stover said. “She looked right at the screen and said, ‘You’re definitely pregnant.’”But Stover was not OK. Her family and boyfriend, Travis Koesters, rushed to her side. “My kidneys weren’t performing up to what they should. My liver wasn’t working properly,” Stover said. Her situation grew dire and her doctors had to move fast”They said she needs to be admitted and then she had the baby that night,” Koesters said. “They’re like you’re having a baby in 15 minutes,” Stover said. Stover had an emergency cesarean surgery and Kash was born 10 weeks early at just over four pounds.Stover knows now she had a life-threatening case of preeclampsia which is mainly high blood pressure during pregnancy.”I had severely high blood pressure which is very scary,” Stover said. “If I wouldn’t have came in when I did I probably wouldn’t have made it through the weekend.”Stover stayed at Methodist Women’s Hospital for a week just a couple of floors up from Kash. “We were coming down, looking at him, making sure he was good and then going back up,” Koesters said. Both were hoping for kids in the future but are now settling into being new parents practically overnight. “Now that I’ve actually held him, fed him and things like that it’s real. He’s actually mine,” Koesters said. Stover is now listening to her body. “I don’t really like going to the doctor. I try to let things resolve on its own and now I’ve learned you can’t necessarily do that,” Stover said. Kash’s parents said he’s gaining weight and doing well but there’s no word yet when they’ll be able to bring him home.Another surprise both Kash and his mom share the same birthday!

    OMAHA, Neb. —

    An Omaha couple finds out they’re pregnant and then have the baby in just 48 hours. Doctors had to perform an emergency c-section to save mom and child.

    Peyton Stover, 23, thought she was just feeling the effects of her new job.

    “I’m a first-year teacher. I just thought it was normal to be tired all the time,” Stover said.

    Then her legs started to swell and after her mom pushed her to go to the doctor, Stover heard the news she never expected.

    “They ran the test again she said, ‘It’s definitely positive. We’re going to do an ultrasound,’” Stover said. “She looked right at the screen and said, ‘You’re definitely pregnant.’”

    But Stover was not OK. Her family and boyfriend, Travis Koesters, rushed to her side.

    “My kidneys weren’t performing up to what they should. My liver wasn’t working properly,” Stover said.

    Her situation grew dire and her doctors had to move fast

    “They said she needs to be admitted and then she had the baby that night,” Koesters said.

    “They’re like you’re having a baby in 15 minutes,” Stover said.

    Stover had an emergency cesarean surgery and Kash was born 10 weeks early at just over four pounds.

    Stover knows now she had a life-threatening case of preeclampsia which is mainly high blood pressure during pregnancy.

    “I had severely high blood pressure which is very scary,” Stover said. “If I wouldn’t have came in when I did I probably wouldn’t have made it through the weekend.”

    Stover stayed at Methodist Women’s Hospital for a week just a couple of floors up from Kash.

    “We were coming down, looking at him, making sure he was good and then going back up,” Koesters said.

    Both were hoping for kids in the future but are now settling into being new parents practically overnight.

    “Now that I’ve actually held him, fed him and things like that it’s real. He’s actually mine,” Koesters said.

    Stover is now listening to her body.

    “I don’t really like going to the doctor. I try to let things resolve on its own and now I’ve learned you can’t necessarily do that,” Stover said.

    Kash’s parents said he’s gaining weight and doing well but there’s no word yet when they’ll be able to bring him home.

    Another surprise both Kash and his mom share the same birthday!

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