If you have a Kirby vacuum cleaner, Geico or Progressive Insurance, Fruit of the Loom shorts or love Sees Candy, then you’ve got a piece of Berkshire Hathaway.  That’s Warren Buffet’s giant corporate holding company, worth hundreds of BILLIONS.  The wealthy capitalist is heading towards 90, as is his longtime partner, Charlie Munger.  This week the Berkshire Hathaway Board of Directors settled on a successor to make investors more comfortable, but are keeping his or her name a secret.  Buffet has no intention of handing over the reins for a while.  The undeniably brilliant businessman is in very good health.

We love his products!  We just want him to stay out of politics…….

Here’s more from Bloomberg Business News:

“Warren Buffett, Berkshire C.E.O. is also the chairman and head of investments, overseeing a $77 billionstock portfolio and operating units with more than 270,000 workers. He runs the firm from Omaha, Nebraska, with a staff of 24 people and consults with Vice Chairman Charles Munger, 88, about investments. The quality of Berkshire’s businesses and managers will give the new CEO “a running start,” Buffett said.

“Do not, however, infer from this discussion that Charlie and I are going anywhere,” Buffett said. “We continue to be in excellent health, and we love what we do.”

Howard Buffett, a Berkshire director, said in October his father wasn’t considering retirement, and plans to lead Berkshire until his death.

Charlie Munger & Warren Buffet...Business Icons...But Close to 90

Warren Buffett, who spent $26.5 billion on a railroad takeover in 2010 and more than $10 billion on stock in International Business Machines Corp. (IBM) last year, has said it is the board’s job to tell him to leave if his mind deteriorates or if he is no longer able to do the job.

Buffett owns more than $40 billion of Berkshire stock and has committed most of his wealth to charity. Berkshire is valued at about $198 billion.”

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Filed under: Economy, Featured, Inside The KC, Politics by Sonja Eddings Brown, Feb 25, 2012