“I understand what Fidesz represents, I am aware of their actions, I experience it,” remarks Deputy Mayor Roland Kósa, who refers to a disdainful attitude towards authority. “Upon our election, what we encountered even before and after was that Fidesz essentially overlooked us and expressed the belief that we do not matter – this remains their city, this continues to be their nation.”
On Jim Continenza’s inaugural day as Eastman Kodak executive chairman in 2019, he received a call from a prominent Hollywood director indicating that the company was making a significant error.
The photography technology firm was in the midst of closing its acetate plant, which produces a crucial component for film. Christopher Nolan, the filmmaker known for major hits like “Inception” and “Oppenheimer,” urged Continenza to halt the closure.
“He said, ‘Don’t shut this down. Please reconsider.’ And I did,” Continenza, who is now the CEO, recounted to CNBC. “He was correct. I started evaluating it because I shoot 35 millimeter [film], and I’m thinking, ‘Why would such an esteemed director even initiate this discussion?'”
Continenza, a self-described “turnaround expert,” quickly came to understand how integral film was to Kodak’s heritage, and how it could serve as one of its greatest assets while he endeavored to rescue the company from the brink of insolvency.
Fast forward approximately seven years, and numerous Oscar-winning films slated for 2026, including “One Battle After Another” and “Sinners,” were filmed using Kodak film. This trend is part of a broader movement as the format experiences a revival driven by nostalgia for film in Hollywood and interest from younger audiences.
However, the journey was not effortless. The company filed for bankruptcy in 2012 and resurfaced a year later. Subsequently, it warned last year that its financial circumstances “cast substantial doubt on Kodak’s ability to continue as a viable entity.”
During the earnings report for the second quarter when it issued that statement, Kodak reported a 12% decline in gross profit, alongside significant debt commitments.
Nonetheless, Continenza stated it was merely a step in a more extensive journey toward restoring the company to its prior glory.
Last month, the earnings report for the company showed improvement. Its gross profit for the fourth quarter reached $67 million, reflecting a 31% rise compared to the previous year. Kodak also reported a decrease in its annual interest expenses by approximately $40 million.
Continenza remarked at that time that these results were indicative of the long-term strategy he initiated in 2019. He shared with CNBC that he selected Kodak as his final endeavor to revitalize before concluding his tenure as a C-suite executive, having previously held leadership positions at telecom companies such as AT&T and Lucent.
“Our goal is clear: We’re going to generate jobs for future generations. Understand this, we’re going to rectify this company, establish a solid foundation, and build systems that facilitate growth,” Continenza explained. “We didn’t invest what we needed; we invested what we desired, and that is a significant distinction.”
In an era of rapid digital transformation, Kodak has been striving to retain its relevance.
The company’s bankruptcy protection in 2012 followed its inability to enhance its finances as the boom in digital photography disrupted the industry. Upon its resurgence the subsequent year as a more compact entity, it redirected its focus towards commercial printing.
While it’s no longer a company attracting extensive investor coverage, Melius Research analyst Ben Reitzes noted in a report last year that the advent of digital technology was a significant hurdle for Kodak.
“At that time, Kodak’s management assured us that film would coexist with digital photography, suggesting that more photos would be taken — and consequently, more would require printing by Kodak,” he recounted.
Nevertheless, Kodak encountered numerous challenges. Its stock plummeted by over 35% in 2014, continuing to experience a gradual decline throughout the following years, ultimately reaching a record low of $1.55 per share during the early days of the pandemic in March 2020.
By last August, the century-old photography firm disclosed having around $155 million in cash alongside nearly $600 million in loans.
A Kodak spokesperson stated at that time that the going concern language had to be included due to insufficient available liquidity to meet debt obligations maturing within a year. Nevertheless, the company expressed confidence in its ability to repay a substantial portion of that loan before it matured by winding down its pension plan, labeling the disclosure as merely a required technical report.
Wall Street investors responded negatively to the news. The stock price fell from about $7 per share just days earlier to slightly above $5 per share on the earnings announcement day.
“We could have managed that better, as to us, it was not as critical; it was more of a GAAP accounting coincidence with dates,” Continenza remarked, treating it as a “timing issue” regarding the loans.
Continenza noted that Kodak’s primary obstacles lay in its substantial debt and inadequate communication with its shareholders and customers.
The CEO mentioned he has never sold a share of Kodak and has instead purchased shares following the company’s going concern notification.
“You must put in the effort and make long-term investments; you need to be systematic, and you must refine your operations, which I’ve dedicated seven years to doing,” he stated. “[It’s] a company over 130 years old, right? You can imagine what’s hidden in the attic.”
Continenza asserted that he has been deliberate in implementing long-lasting changes since taking over the enterprise. He has transformed approximately 90% of the company’s leadership, cleared over $400 million in debt, and reorganized the company’s priorities to emphasize print and advanced materials and chemicals.
Furthermore, he recognized the significance of being “transparent” with his team and accepted that the turnaround process would necessitate layoffs and adjustments in staffing.
“The first thing I do is seek individuals who are committed to the company and acquire them, and that’s the approach we took,” he added. “I’ve assembled a board and investors who support our mission — we keep them updated, and they provide valuable guidance.”
As he assessed what succeeded for the company, Continenza identified a prospective opportunity with Generation Z and the revival of film appreciation. The aesthetic of photographs and videos captured on film evokes something that “penetrates your heart and soul,” he mentioned.
Kodak has embraced the analog and authenticity trend, channeling its resources into film production capabilities and developing products that appeal to consumers, filmmakers, and directors alike.
Continenza also revealed he has refinanced the company three times and appropriately balanced its financials.
This strategy appears to resonate well on Wall Street. Over the past year, Kodak’s stock has increased by nearly 100%.
“We’re fulfilling our duties. Stocks aren’t meant for rapid spikes; they’re designed to grow steadily, as that’s how we expand,” he commented. “I don’t monitor our stock price. It doesn’t concern me. I couldn’t tell you what it is today. I am a long-term investor.”
To Continenza, true success will be defined by ongoing financial improvements and ensuring Kodak has a robust succession plan to maintain its upward trajectory.
Despite being more than a century old, he chooses to regard Kodak as a startup, with all debts settled, the brand cherished, and at this juncture, only Kodak itself could potentially “mess it up.”
“We don’t aspire to be a $5 billion, $20 billion, or $80 billion corporation,” Continenza remarked. “We’re a multi-billion-dollar international entity, but our key advantage lies in our brand recognition. It is beloved worldwide and will remain so.”
(This is the Warren Buffett Watch newsletter, delivering insights and analysis on everything related to Warren Buffett and Berkshire Hathaway. You can subscribe here to receive it every Friday evening in your inbox.)
An Oregon Court of Appeals decision this week accepted PacifiCorp’s claim that the judge in a 2023 trial incorrectly instructed jurors to apply evidence of wildfire damages experienced by 17 homeowners to a class encompassing thousands of additional plaintiffs.
The appellate judges referred the matter known as the James class action back to the trial court for a new evaluation.
The jury in 2023 determined the Berkshire utility was liable for not properly shutting down power lines during a severe windstorm, which contributed to four distinct wildfires leading to significant property damage.
This liability was found to extend beyond the 17 plaintiffs in that case to the entire class of other claimants.
In later “mini-trials” to ascertain the compensation PacifiCorp would owe particular groups of plaintiffs, additional juries awarded them over $1 billion in damages.
These proceedings were projected to persist for the next several years,
Claimants in the class may need to restart and demonstrate the company’s liability for their individual damages, although this week’s ruling may be submitted for appeal to the highest court in the state.
The appellate judges acknowledged the class consists of owners of over 2,000 properties that were affected by various fires spread across more than a hundred miles.
According to AP reports, a statement from the lead counsel for the plaintiffs describes the ruling as a “procedural setback” that does not imply “the jury erred” when determining PacifiCorp’s liability.
“In reality, the Court dismissed PacifiCorp’s attempts to succeed on this appeal on substantive grounds. What the court addressed was one particular jury instruction, outlining several routes forward — including correcting that instruction and retrying the case.”
In a statement, PacifiCorp expressed its awareness of the significant losses faced by community members. The utility indicated, “There are no winners in wildfire; however, the Court’s ruling reaffirms PacifiCorp’s long-held belief that this process was biased and unsuitable for managing wildfire litigation.”
The utility asserted it “remains receptive to negotiating justified claims and will persist in defending against unwarranted claims.”
Berkshire Hathaway Energy is set to confront a proposed class action lawsuit claiming it conspired to elevate real estate commissions despite its HomeServices of America brokerage having paid $250 million two years prior to resolve similar allegations, according to a Reuters report.
A federal judge in Missouri rejected BHE’s claim that it was covered by the HomeServices settlement as the two constitute a “single enterprise” concerning antitrust matters.
The front cover of Berkshire Hathaway’s “Shareholders Guide” for the 2026 annual meeting on May 2 showcases illustrations of both Chairman Warren Buffett and CEO Greg Abel.
Although Buffett is prominently featured in the guide and on badges that shareholders will wear (as mentioned in a brief news report by Omaha’s WOWT-TV), he will step back from the spotlight to let Abel lead the meeting’s Q&A session.
Buffett mentioned he would be present on the floor of Omaha’s CHI Health Center arena with fellow board members while Abel fields shareholder inquiries, as reported by CNBC’s Becky Quick.
In the initial Q&A session, Abel will be accompanied by insurance chief Ajit Jain.
In the second Q&A, BNSF CEO Katie Farmer and Adam Johnson, CEO of NetJets and Berkshire’s president of consumer products, service, and retailing, who holds a new position, will join Abel on stage.
This marks the inaugural inclusion of executives at the subsidiary level in an annual meeting Q&A.
CNBC.com’s live web stream coverage starts at 9:15 AM ET with a pre-event show. The first Q&A is set to begin at 10:30 AM ET.
A publication that examines Berkshire Hathaway through the perspectives of those managing its subsidiaries is receiving an update that reflects the company’s transition from Warren Buffett to new CEO Greg Abel.
“The Warren Buffett CEO: Secrets from the Berkshire Hathaway Managers, 25th Anniversary Edition” is scheduled to be released by Wiley on April 28.
Author Robert P. Miles has also included four new chapters that focus on Berkshire’s “insurance engine,” featuring profiles of three key executives, including a possible successor for Ajit Jain.
Miles has shared a video where he discusses the book in January for an audience of investment managers in Switzerland, highlighting portfolio manager Ted Weschler.
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Warren Buffett and Charlie Munger discuss the effectiveness of Berkshire’s system.
WARREN BUFFETT: It’s not a particularly complex economic equation at Berkshire.
For a long time, people didn’t recognize the importance of float. We kept conveying it to them, and I think they’ve come to appreciate it now.
The primary aim, what Charlie and I focus on, is to augment, each year, something to the normalized — you know, the normalized earning power per share of the company.
We believe we can achieve this and we should be able to. We have retained earnings available each year to fulfill that task.
Sometimes it may not seem like we’ve made much progress, and we haven’t.
Other times, significant things occur, and we can’t predict which year will yield which outcome…
CHARLIE MUNGER: In fact, there are very few companies that have enjoyed a similar advantage.
Throughout Berkshire Hathaway’s history, we’ve operated in a flow of capital, constantly deploying and reallocating assets, while learning along the way. That’s a commendable system.
WARREN BUFFETT: It’s a —
CHARLIE MUNGER: We’re not planning to change it.
WARREN BUFFETT: No. It’s allowed for numerous mistakes, which is intriguing.
American business has been sufficiently strong that there’s no need to be exceptionally clever to achieve reasonable returns. If you can apply a modicum of intelligence, you should achieve commendable results.
CHARLIE MUNGER: What you really need to do is avoid the typical blunders. Just steer clear of those. You don’t need to be exceptionally smart.
WARREN BUFFETT: Thank heavens.
CHARLIE MUNGER: Thank heavens, indeed.
Four weeks
Twelve months
BRK.A stock price: $720,002.88
BRK.B stock price: $479.90
BRK.B P/E (TTM): 15.47
Berkshire market capitalization: $1,035,160,682,901
Berkshire Cash as of December 31: $373.3 billion (Decreased 2.2% from Sept. 30)
Excluding Rail Cash and after Subtracting T-Bills Payable: $369.0 billion (Increased 4.1% from September 30)
Berkshire resumed share buybacks on March 4, 2026, but has not disclosed whether it made any further purchases after that date.
(All figures are as of the publication date, unless otherwise specified)
Berkshire’s principal holdings of publicly traded stocks in the U.S. and Japan, arranged by market value, according to the latest closing prices.
Holdings are as of September 30, 2025, as detailed in Berkshire Hathaway’s 13F filing on November 14, 2025, with exceptions being:
The comprehensive list of holdings and their current market values is accessible via CNBC.com’s Berkshire Hathaway Portfolio Tracker.
If you’re not already signed up for this newsletter, you can register here.
Additionally, Buffett’s annual letters to shareholders are highly recommended. They can be found here on Berkshire’s website.
— Alex Crippen, Editor, Warren Buffett Watch
The crew members – Wiseman, pilot Victor Glover, mission specialist Christina Koch, and Canadian astronaut Jeremy Hansen – were meticulously removed from the capsule and transported by helicopter to the USS John P Murtha, where they will receive medical assessments.
The Artemis era truly kicked off Friday evening when a gleaming spacecraft that had journeyed 700,000 miles around the Moon, carrying four astronauts, splashed down in the Pacific Ocean off California.
For NASA, its international partners, and humanity as a whole, the successful completion of Artemis II signaled our species’ return to deep space after more than half a century.
It was a remarkable achievement, and NASA deserves credit for making an extraordinarily difficult task look comparatively straightforward. Yet it also raises a key question: what comes next?
NASA recently adjusted its plans for Artemis III and IV to insert a stepping-stone mission before attempting a crewed lunar landing. Considerable additional work is required to make those flights happen. To be blunt, the Artemis II mission that ended Friday was the lowest-hanging fruit of the Artemis program.
“The work ahead is greater than the work behind us,” said Amit Kshatriya, NASA’s associate administrator, after Friday night’s landing.
The next phase calls for more complex operations, involving multiple vehicles and ultimately a descent to another celestial body. To meet its objectives, NASA will need to remove the training wheels. Below is the status of the major elements that must come together to land humans on the Moon.
Several NASA officials praised the Space Launch System’s performance during the April 1 Artemis II launch, saying it hit the mission’s target orbit with better than 99 percent accuracy.
The core stage for Artemis III is expected to depart the Michoud, Louisiana factory later this month for delivery to Kennedy Space Center in Florida. Other rocket components have already arrived or will do so soon.
Meanwhile, the Mobile Launch Tower sustained moderate damage and will be returned to the Vehicle Assembly Building in Florida for refurbishment and subsequent stacking operations for the next mission.
Plunging through the atmosphere at over 30 times the speed of sound, NASA’s Orion spacecraft streaked over the Pacific on Friday, bringing four astronauts back and successfully concluding humanity’s first Moon mission in almost 54 years.
Surface temperatures rose to roughly 5,000 degrees Fahrenheit as a shell of plasma surrounded the Orion spacecraft, named Integrity, and its four far-traveling crew, briefly disrupting radio contact between the lunar craft and Mission Control in Houston. Heading from southwest to northeast, the vehicle aimed for a splashdown area southwest of San Diego, where a US Navy recovery vessel waited for the crew’s return. After a six-minute communications blackout, ground teams reestablished contact with Orion commander Reid Wiseman.
Airborne tracking aircraft relayed live footage of Orion’s return to Mission Control, capturing the capsule shedding its parachute cover and releasing a sequence of canopies to steady its drop toward the Pacific. Finally, three primary main chutes — each about 10,500 square feet — inflated to slow Orion for splashdown at 8:07 pm EDT Friday (00:07 UTC Saturday).
Over the course of 14 minutes, Orion shed nearly 25,000 mph of speed, exposing the crew in their seats to two short bursts of roughly 3.9 Gs.
The USS John P. Murtha, an amphibious transport dock, sent helicopters and small craft to recover Wiseman and his Artemis II crewmates — Victor Glover, Christina Koch and Jeremy Hansen. Wiseman radioed that there were “four green crew members” inside Orion’s cockpit, signaling they were healthy and in good spirits following splashdown.
Koch was the first to leave the capsule, climbing onto an inflatable raft — the so-called “front porch” — alongside Navy divers gathered beside the spacecraft. Glover followed, and then Hansen, the Canadian astronaut, stepped onto the front porch. Wiseman, the ship’s commander, was the last to unbuckle and join the recovery team. Two helicopters were scheduled to lift the astronauts from the water and carry them to the John P. Murtha, where medical teams would check them before they were flown to San Diego and then back to Houston to reunite with their families on Saturday.
In order to place boots on the Moon’s surface, Nasa requires a lander. The American space organization has enlisted two private firms to construct them: SpaceX, founded by Elon Musk, whose lunar variant of the Starship rocket will reach a height of 35 meters, and Blue Origin, established by Jeff Bezos, whose Blue Moon Mark 2 vehicle is smaller yet equally ambitious.
“Fidesz’s governance needs to end, they’ve taken so much and the nation is suffering,” claims Eva, who thinks 90% of the market’s patrons still support them. “Tisza backers only focus on Orbán’s negative aspects,” Andrea counters. “If you observe the city, they’ve renovated six schools and constructed new facilities at the hospital.” While that might be accurate, Eva contends that many public tenders in Hungary are plagued by corruption.
A suspect was taken into custody after allegedly launching a Molotov cocktail at the residence of OpenAI CEO Sam Altman and subsequently threatening to set fire to the artificial intelligence firm’s headquarters in San Francisco on Friday, according to authorities.
An OpenAI representative verified the incident in an official statement and remarked, “Fortunately, no injuries occurred.”
The San Francisco Police Department reported on X that officers responded to a blaze at Altman’s North Beach home after an individual threw an “explosive incendiary device” at around 4 a.m. The device ignited a fire on an outer gate and the suspect fled the scene on foot.
Approximately an hour later, officers were alerted to a man making arson threats at the AI company’s office, identifying him as the same suspect involved in the incident at Altman’s residence, per the report. The 20-year-old male suspect was apprehended, with charges pending.
“We are very grateful for the prompt response from SFPD and the city’s assistance in ensuring the safety of our employees,” OpenAI stated. “The suspect is in custody, and we are cooperating with law enforcement in their investigation.”
In a recent blog entry, Altman spoke about the attack and included a family photo, admitting he “underestimated the influence of words and narratives.” He described the past few years as “extremely intense, chaotic, and high-pressure,” urging for a de-escalation in “the rhetoric and tactics” within the AI sector.
“Much of the criticism aimed at our industry arises from genuine worries regarding the incredibly high stakes of this technology. This concern is entirely valid, and we welcome constructive criticism and healthy debate,” Altman expressed. “I resonate with the sentiments against technology and acknowledge that it isn’t always beneficial for everyone. However, I firmly believe that technological advancements can lead to an extraordinarily positive future for all families.”
This episode occurs during a notably contentious period for Altman and OpenAI.
In February, the organization faced backlash for finalizing an agreement with the Department of Defense after the Pentagon cut ties with AI competitor Anthropic. Activists utilized chalk to leave messages at both companies’ offices, including calls for OpenAI employees to protest the agreement.
OpenAI and Anthropic are competing for dominance in the large language model market. Their combined valuation exceeds $1 trillion in the private sector, and both companies are aiming for potential IPOs this year, despite losing billions of dollars.
In a forthcoming trial expected to begin later this month, Elon Musk is suing OpenAI and Altman, asserting that the CEO “carefully manipulated” him into contributing $38 million on the condition that OpenAI would stay a nonprofit entity. Musk, who co-founded OpenAI with Altman in 2015, is seeking to have Altman removed from his CEO position as part of the legal action.
–CNBC’s Ashley Capoot contributed to this report
WATCH: Elon Musk seeks removal of OpenAI CEO Sam Altman through litigation
A group of Californians filed suit this week against Sutter Health and MemorialCare, alleging an AI transcription tool recorded them without permission, in breach of state and federal law.
The proposed class-action complaint, submitted Wednesday in federal court in San Francisco, says that within the last six months the plaintiffs obtained medical treatment at various Sutter and MemorialCare facilities.
During those visits, clinicians employed Abridge AI. According to the complaint, this system “collected and processed their private physician–patient conversations. Plaintiffs did not receive clear notice that their medical discussions would be recorded by an artificial intelligence platform, transmitted beyond the clinical environment, or handled by third-party systems.”
The complaint further alleges those recordings “contained personally identifiable medical information, including, but not limited to, medical histories, symptoms, diagnoses, medications, treatment discussions, and other sensitive health disclosures made during confidential medical consultations.”
In recent years, Abridge’s software and AI tools have been rapidly rolled out across major health care providers nationwide, including Kaiser Permanente, the Mayo Clinic, Duke Health, and many others.
