Berkshire Hathaway’s subsidiary National Indemnity Corp, owned by Warren Buffett acquired 6.9 million shares at $40/share of USG Corp as of 08/02/2006. This was part of the “Rights Offering” Agreement. Now, Berkshire Hathaway owns 15% of USG. There are limitations and other agreements involved with USG and Berkshire Hathaway.Which some limitations and agreements could last for the next 7 years.

At the end of 2005 USG claimed for chapter 11. Due to many asbestos lawsuits. Since, then USG Corps. stock has dropped approx. 50%. Now, they recently made agreements to pay differ amounts in the billions. There are several hundred more cases of asbesto still pending.

It will be interesting to see. What will Berkshire Hathaway do later on. Warren Buffett has been known to take advantage of companies during setbacks. The thing here is that USG was a pretty solid company. Actually, USG is continuing to grow there revenues, despite the set backs. So, I think USG Corp. is worth watching in the next several years.

Berkshire Hathaway owns more than 60 types of businesses worldwide. They own the insurance company called Geico. Also, has major investments in Coca-Cola, and Wells Fargo & Co., and American Express