rigger
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May 1, 2010, 2:40 p.m. EDT · Recommend · Post: 
Buffett credits Sokol with NetJets turnaround
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Alert Email Print Share By Alistair Barr, MarketWatch
OMAHA, Neb. (MarketWatch) -- Berkshire Hathaway Chairman Warren Buffett on Saturday credited one of his lieutenants, David Sokol, with turning around a previously loss-making unit called NetJets, during the company's annual meeting on Saturday.
Sokol runs Berkshire Hathaway Inc.'s /quotes/comstock/13*!brk.a/quotes/nls/brk.a (BRK.A 115,325, -1,476, -1.26%) /quotes/comstock/13*!brk.b/quotes/nls/brk.b (BRK.B 77.00, -1.09, -1.40%) 's utility business MidAmerican and is considered a candidate to become chief executive when Buffett steps down.
Buffett sent Sokol in to run NetJets, which sells fractional ownerships in jet airplanes for b usiness and leisure use, in 2009 after the unit suffered several years of losses. By the first quarter of 2010, the unit had generated a profit of roughly $50 million, Buffett reported on Saturday.
"I give David Sokol tremendous credit," Buffett said.
Buffett credits Sokol with NetJets turnaround
Explore related topics
Airlines Berkshire Hathaway Inc Berkshire Hathaway Inc Del
Story Quotes Comments Screener (6)
Alert Email Print Share By Alistair Barr, MarketWatch
OMAHA, Neb. (MarketWatch) -- Berkshire Hathaway Chairman Warren Buffett on Saturday credited one of his lieutenants, David Sokol, with turning around a previously loss-making unit called NetJets, during the company's annual meeting on Saturday.
Sokol runs Berkshire Hathaway Inc.'s /quotes/comstock/13*!brk.a/quotes/nls/brk.a (BRK.A 115,325, -1,476, -1.26%) /quotes/comstock/13*!brk.b/quotes/nls/brk.b (BRK.B 77.00, -1.09, -1.40%) 's utility business MidAmerican and is considered a candidate to become chief executive when Buffett steps down.
Buffett sent Sokol in to run NetJets, which sells fractional ownerships in jet airplanes for b usiness and leisure use, in 2009 after the unit suffered several years of losses. By the first quarter of 2010, the unit had generated a profit of roughly $50 million, Buffett reported on Saturday.
"I give David Sokol tremendous credit," Buffett said.
