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AP photo
"Cash for Clunkers" may give a boost to a unit of Warren Buffett's Berkshire Hathaway, Bloomberg reports today.
Bloomberg reports that Berkshire-owned Geico Corp. may be among the beneficiaries of drivers paying higher insurance premiums for the new cars purchased under the federal government's wildly popular program, which wrapped up early this week. The article states that Cash for Clunkers may drive an extra $375 million in insurance premiums.
It comes at a good time. Buffett wrote in Berkshire's second-quarter earnings report that "the weakening economy is also believed to be causing customers to raise policy deductibles and reduce coverage in order to save money."
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Yes, Your vehicle must be less than 25 years old on the trade-in date
Jhenry
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www.cashforclunkersfacts.info
Hi,
I'm a great fan of warren buffet and have setup a twitter account just to broadcast his sayings extracted from media. Please follow the twitter account w_buffett_quote
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