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DEVELOPING: BUFFETT LETTER, EARNS-BERKSHIRE HATHAWAY, BKC–ILLINOIS ST-CREIGHTON, BKC–NEBRASKA-KANSAS ST
SUPCO–VIATICALS LAWSUIT
OMAHA—Nebraska’s highest court will determine whether a state association must cover nearly $1 million in losses suffered by 26 Nebraskans in a life insurance scheme. The Nebraska Supreme Court will hear arguments Tuesday in the appeal and cross appeal of a lawsuit filed by the Nebraskans. Members of the group argue they are entitled to recoup their losses from a state association designed to protect residents who own life or health insurance policies or annuity contracts with companies that become insolvent. By Margery A. Gibbs.
BUSINESS:
BUFFETT LETTER
OMAHA—Warren Buffett says the economic turmoil that contributed to a 62 percent profit drop last year at the holding company he controls is certain to continue in 2009, but the revered investor remains optimistic. Buffett released his annual letter to Berkshire Hathaway Inc. shareholders Saturday morning, and detailed the worst of his 44 years leading the Omaha-based company. By Business Writer Josh Funk. Eds: Also moving on general news lines; also moving on national lines.
AP Photo NY111.
With:
— BUFFETT LETTER-GLANCE
EARNS-BERKSHIRE HATHAWAY
OMAHA—Warren Buffett’s Berkshire Hathaway Inc. reported a 96 percent drop in its fourth quarter profit because of largely unrealized losses of $3.25 billion on investments and derivative contracts. The Omaha-based company released its results Saturday morning along with Buffett’s annual letter to shareholders. By Business Writer Josh Funk. Eds: Also moving on general news lines; also moving on national lines.
SPORTS:
BKC–ILLINOIS ST-CREIGHTON
OMAHA—Creighton meets Illinois State looking to extend its winning streak to 10 games. A victory will clinch at least a share of the Missouri Valley Conference championship for the Bluejays. Game starts 1:05 p.m. CST.
BKC–NEBRASKA-KANSAS ST
MANHATTAN, Kan.—Nebraska and Kansas State, two teams clinging to NCAA tournament hopes, play a crucial Big 12 game at Bramlage Coliseum. By John Marshall. Game starts at 7 p.m. CST
ALSO:
— PLAYER SUSPENDED—Iowa athletics officials say freshman defensive back Shaun Prater has been suspended indefinitely after being charged with drunken driving.
ALSO GETTING ATTENTION:
— FOOD POISONING—State health officials say more than 80 people fell ill from food poisoning after a choir competition in eastern Nebraska. Eds: Not for online use in Omaha market.
— MEDICAID-STIMULUS—Nebraska will see a temporary increase in federal funding for the state’s Medicaid program as part of the economic stimulus package.
— ASTRONAUT ADDRESS—Ashland native and NASA astronaut Clayton Anderson will speak about his time in space next month at the University of Nebraska-Lincoln.
— XGR–HELMET LAW—Nebraska lawmakers will hold a public hearing on nixing the state’s helmet law for some motorcycle riders.
— ENERGY EFFICIENCY LOANS—Nebraskans wanting to make energy efficiency improvements in their homes can apply for a loan program offered through the Nebraska Energy Office.
The AP, Omaha.
