Berkshire Hathaway's Gen Re "fires" Ferguson
Looks like Berkshire Hathaway has used the "AIG method" to distance itself from AIG's reinsurance fuss:
"BERKSHIRE HATHAWAY INC. NEWS RELEASE
FOR IMMEDIATE RELEASE May 20, 2005
Omaha, NE (BRK.A; BRK.B) – Berkshire Hathaway Inc. announced today that its subsidiary, General Re Corporation, has terminated the consulting services of its former Chief Executive Officer, Ronald E. Ferguson, after Mr. Ferguson earlier today invoked the Fifth Amendment in response to questions from the Securities and Exchange Commission and the Department of Justice relating to their ongoing investigations. Mr. Ferguson had been subpoenaed to provide
testimony in connection with these investigations.
Mr. Ferguson had been providing consulting services to General Re and certain of its affiliates under a consulting agreement entered into when Mr. Ferguson stepped down as CEO of General Re on October 1, 2001."
I don't see Buffett stepping in to pick up Ferguson's legal bills, either.
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