- RBC Capital Markets says Warren Buffett may invest in General Electric, but could extract a high price for his involvement.
- “In many ways, GE’s current situation fits the profile of an ideal Warren Buffett investment,” the firm’s analyst writes
Warren Buffett may come to the rescue of General Electric once again, according to one Wall Street firm.
RBC Capital Markets analyzed whether it made sense for Buffett to invest in GE at these levels.
General Electric’s stock rose 4.3 percent Tuesday amid unsubstantiated speculation that the Oracle of Omaha was buying shares of the beleaguered industrial conglomerate.
The company’s shares have significantly underperformed the market. Its stock has declined 55 percent in the past 12 months through Tuesday versus the S&P 500’s 11 percent return.
“Berkshire Hathaway has a history of investing in storied businesses struggling at steep valuation dislocations. In many ways, GE’s current situation fits the…
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Amtrak gets nearly $2 billion in federal funding, rather than a steep cut that President Trump proposed, under a broad spending measure released Wednesday.
Trump had proposed cutting $630 million from the national passenger railroad’s federal subsidies for the year that started Oct. 1, out of $1.4 billion provided the previous year.
“Amtrak’s long-distance trains do not serve a vital transportation purpose and are a vestige of when train service was the only viable transcontinental transportation option,” Trump’s budget said.
But the spending bill provides $1.3 billion for the long-distance network. The bill also provides $650 million to Amtrak for the Northeast Corridor (NEC), the popular route which runs from Washington, D.C., to Boston.
“Amtrak thanks Congress for recognizing the importance of intercity passenger rail and the Northeast Corridor,” Amtrak CEO Richard Anderson said. “The increased NEC capital funding will allow us to address many important needs along the corridor…
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The City Council is taking matters into its own hands after Mayor de Blasio neglected to include funding for a reduced fare MetroCard program for low-income New Yorkers in the preliminary draft of the city’s fiscal year 2019 budget. This marks the second year in a rowDe Blasio has bucked the proposed program.
As a response, more than half of the City Council has signed a letter to Council Speaker Corey Johnson and Finance Committee Chair Daniel Dromm affirming their support for Fair Fares. The discount fare program proposed by the Community Service Society and Riders Alliance would make working-age New York residents living at or below the poverty line of $24,339 for a family of four eligible to receive half-price MetroCards.
Mayor de Blasio maintains that all things relating to the MTA are the jurisdiction of the state. But that’s not sitting well with the council…
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A faster way of getting from Maryland to DC may involve going underground.
Elon Musk, the founder of Tesla and Space-X, wants to build something called a Hyperloop that would take traffic underground. The idea is the tunnel would start in Baltimore and would only take up the space of a parking spot.
The plans indicate there would be trailers called skates, and individual cars to hold passengers and bicyclists speeding up to 124 miles per hour underground reducing the trip to only 29 minutes. The 35-mile long tunnel would end at New York Avenue in DC.
Boeing already has a permit to start digging, and they’re working with more than a dozen agencies including the MDTA to get the plans off the ground. They say construction of the tunnels could take 1-2 years, but the digging would happen 30…
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Mixed-use building seeks to add two new elevators to lower Manhattan subway station. On March 14, 2018, the City Planning Commission held a public hearing for a special permit for a proposed new mixed-use development at 45 Broad Street in the Financial District in Manhattan in connection with improvements to the Broad Street Station and the Wall Street Station. Applicants, Madison 45 Broad Development LLC, plan to build a 65-story condominium building in what is currently an empty lot on the east side of Broad Street between Exchange Place and Beaver Street. The building will become the highest condo in Downtown Manhattan.
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