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Obama calls for offshore drilling in Southeast

WASHINGTON — The Obama administration on Tuesday outlined a politically fraught plan for allowing oil and gas drilling offshore along parts of the Atlantic coast while imposing new restrictions on environmentally fragile waters off northern Alaska.

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Alliance's Hillwood Commons lands first tenant

A large title insurance, property valuation and settlement services company is the first tenant at Hillwood Commons I, an office complex at Alliance Town Center.

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Museum District: Area’s evolution creating more interaction, public spaces

Fifteen years ago if someone had shot a cannon from Fort Worth’s world-renowned museum district, nobody would have noticed, joked Lori Eklund, senior deputy director of the Amon Carter Museum of American Art. But that has changed.

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Energy Transfer Partners, Regency Energy announce $18B merger

Energy Transfer Partners LP of Dallas and Regency Energy Partners LP have entered into a definitive merger agreement.

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Fort Worth's mayor looking for new chief of staff

Jason Lamers is leaving the city after 14 years to join Burlington Northern Santa Fe.

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Buffett buys into another local company: Exxon

James O'Toole


NEW YORK (CNNMoney) -- Warren Buffett is betting big on Exxon Mobil.

Buffett's Berkshire Hathaway revealed Thursday that as of September 30, it held a stake of roughly 40 million Exxon shares. That stake would be worth $3.74 billion at Thursday's closing price.

The disclosure came on a day when investment managers made filings detailing their third-quarter holdings with the Securities and Exchange Commission.

Exxon is the world's second largest company by market capitalization after Apple, and Berkshire's stake only amounts to about 1% of the firm.

Berkshire trimmed its stake in another big oil producer, ConocoPhillips.

Elsewhere in the investment world, Carl Icahn revealed the size of his previously announced Apple stake, worth $2.05 billion as of Thursday's close.

John Paulson, who made a fortune betting against the housing market, revealed an $88 million stake in FedEx. Fellow hedge fund celebrity Dan Loeb also announced this week that his firm, Third Point, had taken a stake in the shipping giant.

Loeb's FedEx stake was worth $272 million as of Thursday's close.

Bill Ackman's Pershing Square Capital sold its massive J.C. Penney stake in the third quarter, taking a loss of nearly $500 million. But a trio of other large hedge funds -- Jana Partners, Appaloosa Management and Farallon Capital Management -- revealed small stakes in the ailing retailer.

 

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