>> It is a rare day when Warren Buffett can't buy something he wants, but his firms nine billion dollar bid for electric power transmission firm Oncor fell short. A Texas utility holding company instead accepting 9.45 billion from Sempra Energy. It's a blow for Buffet, his firm, Berkshire Hathaway, avoids bidding wars for companies.
It's also a defeat for Greg Abel, seen here at a meeting with President Barak Obama. Abel is CEO of Berkshire's energy unit. Many investors see him as a top candidate to succeed 86 year old Buffet at the Omaha based company's helm. News of Berkshire's loss breaking after a decision Sunday by Encore's board, to go with San Diego based Sempra.