The Latest: Buffett defends Berkshire Hathaway's practices
Investor Warren Buffett is defending Berkshire Hathaway's association with cost-cutting investors and the lending practices at its mobile home unit.
The investor says he plans to spend his 100th birthday in 2030 celebrating that one of Berkshire's key insurance companies, Geico, will have overtaken State Farm to become the No. 1 auto insurer — or so he hopes.
To replace Buffett, Berkshire plans to split his job into three parts — chief executive officer, chairman and several investment managers.
[...] Buffett says what the country needs is to make sure it has a solid safety net to help people who lose jobs, not prohibit efforts to improve productivity.
[...] Buffett says it wouldn't make much sense to require that 11 million people keep working in farming as they did in 1900 before tractors and countless other innovations.
[...] its BNSF railroad is certain to haul less coal in the future and Geico insurance could be hurt by driverless cars.