What’s New: In Brief (November 06, 2009)

The financial strength ratings (FSR) and issuer credit ratings (ICR) of the domestic and international property/casualty and life/health subsidiaries of Berkshire Hathaway Inc. are under review with negative implications by A.M. Best Co.
“These ratings actions follow the recent announcement that Berkshire Hathaway Inc. intends to acquire for $100 per share in cash and common stock the remaining outstanding shares of Burlington Northern Santa Fe Corporation (BNSF), which would increase BRK’s holdings to 100%,” A.M. Best reported in a release. “This transaction is valued at $44 billion and includes the assumption of $10 billion of BNSF debt.”
The placing of the ratings under review reflects A.M. Best concerns regarding the utilization of Berkshire’s insurance and reinsurance operations as a funding source for this transaction, A.M. Best went on to note.

Carstar Automotive Canada Inc. is the recipient in the MarCom Platinum Awards 2009 Competition.
Carstar received this award for this year’s Soaps it Up National Car Wash event for the Canadian Cystic Fibrosis Foundation and other local fundraising groups.
The MarCom Awards is an international creative competition, recognizing outstanding achievement by marketing and communication professionals.
“We are all very passionate about serving our community through charitable efforts such as the Canadian Cystic Fibrosis Foundation and this award solidifies that our hard work is not in vain,” Lisa Mercanti-Ladd, senior director, marketing & client services for Carstar Automotive Canada Inc, said in a release.