Buffett Will Hang onto NetJets

"No, we will not sell the company," said Berkshire Hathaway chairman Warren Buffett, when asked yesterday in a CNBC TV interview whether his company had any plans to sell its NetJets unit. Buffett acknowledged in the interview that "our guarantee of their debt is what kept them alive last year," but added that "NetJets is going to make money and it makes money even during a period like this." The value of its fleet, Buffett noted, "is well over that of the next three competitors combined. So we own the business, in effect...and it's a profitable business. It just got out of control a year ago and it has this huge loss."