Stanford stock windfall

0 Comments | Oakland Tribune, Aug 25, 2004

Berkshire Hathaway Inc.'s Charles Munger, vice chairman of the investment company controlled by billionaire Warren Buffett, donated $42.7 million of Berkshire stock to Stanford University. Munger, 80, gave 500 Class A shares, or about 3 percent of his stake in the Omaha, Nebraska-based company, according to an SEC filing. Munger's daughter, Wendy Munger, is a Stanford trustee. Munger, Buffett's investing partner for four decades, is financing a new graduate student residence at the university, the Daily Stanford reported in January. The stock fell $1,099.90 to $85,300.10 in New York Stock Exchange composite trading.

Hummer slowdown

General Motors Corp. has told AM General to slow production of the H2 Hummer. AM General spokesman Lee Woodward said Tuesday that the company, which makes the vehicle for GM, plans to end its second shift on Oct. 25, moving those workers to the first shift and to a neighboring plant that builds military Humvees. He would not give the exact number of employees affected, but said no layoffs were expected. GM spokesman Pete Ternes said the cutbacks were not related to recent increases in gasoline prices. He said GM was simply trying to match production with sales.

Quickly

Landec Corp. of Menlo Park, a developer of technology-based polymer products for food, has introduced a low carbohydrate vegetable tray product for sale to retail grocery chains -- a mini 19 oz. vegetable tray with cut vegetables and dip. Sana Security of San Mateo, an intrusion-prevention software company, announced the continued growth of the Sana Security Alliance Program with the signing of Structured Communication Systems of Portland. Fabric7 Systems of Mountain View, a data company, announced the completion of a round of financing, raising $17.5 million. The financing was led by Selby Venture Partners. New Leaf Health and Fitness Products, a unit of St. Paul, Minn.-based based Angeion Corp., announced Tuesday that Pacific Athletic Club of Redwood City is now an authorized New Leaf Health and Fitness services provider. This makes Pacific Athletic Club part of an elite group of fitness clubs and training facilities able to create highly effective personalized exercise and weight loss plans based on an individual's metabolic profile.BLOOMBERG NEWS SERVICE