NU Online News Service, March 2, 2:28 p.m. EST
Warren E. Buffett, chairman and chief executive officer of Berkshire Hathaway told investors that he goofed and should have listened to the management of GEICO when the company introduced its own credit card.
In his annual letter to investors in his Omaha, Neb.-based firm, Mr. Buffett said he had to make a "painful confession: Last year your chairman closed the book on a very expensive business fiasco entirely of his own making."
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