US Air need to Cut Cost

(April 25, 1994) #Berkshire Hathaway’s loan to US Air, in the form of a purchase of preferred stock, was almost five years old when Warren Buffett told the 1994 shareholders meeting it was a deal he should not have made. He held out hope, however, that the airline’s CEO might be able to cut costs in what he acknowledged would be an “enormously tough negotiating job.”

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