Warren Buffett, the “Omaha Oracle” whose knack for investment risk has turned a mighty profit for believers, added another energy company to his hefty portfolio on Friday, as Buffett’s Berkshire Hathaway Inc. and Credit Suisse First Boston (CSFB) agreed to loan cash-poor CenterPoint Energy Inc. $1.31 billion. The three-year loan, which carries a 12.75% interest rate, ensures CenterPoint will make a Nov. 15 deadline to pay off a $400 million facility, and more important, allow it to maintain a $4.7 billion credit facility.
Rescue
Articles from Rescue
Speculation Rises on SoCal Edison Involuntary Bankruptcy
With the failure of the state to agree on a rescue plan to restore Southern California Edison’s financial viability, rumors last week grew louder that three of the major generators who are creditors would take the utility into involuntary bankruptcy.
September 24, 2001
White House Can’t Do a ‘Darn Thing’ to Aid CA
“I don’t think there’s a darn thing the [Bush] administration can do” to rescue California from the inevitability of energy supply shortages and blackouts this summer, a White House energy official said last week.
April 9, 2001
White House Can’t Do a ‘Darn Thing’ to Aid CA
“I don’t think there’s a darn thing the [Bush] administration can do” to rescue California from the inevitability of energy supply shortages and blackouts this summer, a White House energy official said yesterday.
April 4, 2001
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