You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.


  • Why not warranties on hips, knees?
    When an automaker recalls defective brakes or air bags, the manufacturer’s warranty covers the costs of removing and replacing them.
  • Business at a glance
    Jai Juice, a juice bar and cafè, has opened at 1301 Lafayette St. in Fort Wayne.
  • Submissions
    Send items to Business News, The Journal Gazette, 600 W. Main St., Fort Wayne, IN 46802. Information may also be faxed to 461-8893 or emailed to

Berkshire boss backs Chase CEO

– Warren Buffett, who has said he personally owns shares of JPMorgan Chase, is backing the bank’s Chairman and Chief Executive Officer Jamie Dimon as shareholders vote this month on whether to split his roles.

“I’m 100 percent for Jamie,” Buffett told Bloomberg Television’s Betty Liu on Thursday in Omaha, Neb. “I couldn’t think of a better chairman.”

Calls for Dimon, 57, to relinquish the chairmanship have mounted since New York-based JPMorgan disclosed risk-control lapses on derivatives bets last year that fueled more than $6.2 billion of losses. In March, the company’s board urged investors to vote against naming a separate chairman at the May 21 meeting, saying that Dimon’s dual role remains the “most effective leadership model.”

Buffett said in November that Dimon would be the best candidate to lead the Treasury Department in a financial crisis. President Barack Obama eventually nominated Jack Lew to the post vacated by Timothy Geithner.

Investors would risk shortening Dimon’s tenure if they appoint a separate chairman and their company’s stock may lose its “premium valuation,” Charles Peabody, an analyst at Portales Partners, said last month in a note to clients.