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John Byrne, Geico CEO Buffett Cited for ‘Brilliance,’ Dies at 80


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Guest kumar

http://www.bloomberg.com/news/2013-03-10/john-byrne-geico-ceo-buffett-cited-for-brilliance-dies-at-80.html

 

....“Jack’s performance in reviving Geico from near-bankruptcy was truly extraordinary, and his work resulted in enormous gains for Berkshire,” Buffett wrote in his 1985 letter....Byrne, with advice from Buffett, also hired Louis Simpson as Geico’s chief investment officer in 1979. Simpson rose to president and CEO of Geico’s capital operations from 1993 until 2011 and was once identified by Buffett as a candidate to succeed him in an emergency to oversee all of Berkshire’s investments.....

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Unfortunately, last time I heard him, it was at a WTM conference call when he came back (shortly) in the company. It was a bad quarter and he seemed sad. He said something like "It's a sad chapter of a long story".

 

Well, Jack, no matter that very short sad chapter...the long story has been obviously very good and you can rest in peace.

 

Cheers!

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I was involved in a serious way(for me) with Jack in the restructuring of a bank in New Hampshire. His prestige brought the deal to the group. It turned out to be a great investment, but , more importantly, taught me how Boards and board sub-groups work.

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