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Last updated: March 04. 2013 11:51PM - 1277 Views

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Buffett: Stocks are good buy


Warren Buffet says stocks are a good investment, long-term government bonds are a dumb one, and ketchup is forever.


The billionaire investor covered a range of topics in a CNBC interview on Monday, including his purchase of ketchup maker Heinz, the “meat ax” of automatic budget cuts, and what’s going to happen when the Federal Reserve stops pumping money into the economy.


Warren Buffett has long been bullish on stocks, and still is. But they’re likely to be hurt when interest rates rise, he said. Buffett predicted that those low interest rates won’t go on forever.


Buffet says he’d still rather own stocks than other options such as farmland, junk bonds, real estate trusts, or long-term government bonds.


Boeing moving on 787 fix


Boeing said Monday that it is set to move quickly to get its 787s back in the air if it gets federal approval for a fix for the batteries that have grounded the planes.


The Federal Aviation Administration is considering a plan that Boeing submitted on Feb. 22 for fixing the batteries. The FAA has said it expects its experts to recommend this week whether to accept the plan.


Ray Conner, who runs Boeing Co.’s commercial airplane unit, described the process to industry analysts at a J.P. Morgan aviation conference in New York.


The FAA certifies parts used on planes, and changes can prompt the need for a part’s re-certification. The agency has to first certify Boeing’s fix, then it has to approve testing for the fix, Conner said. Then Boeing will be able to install the fix on the 50 787s that have been delivered so far.


Once it gets FAA permission, “this will move really fast in terms of being able to get the airplanes back into the air,” Conner said. “We are prepared, we are ready to go.”


Monster responds to lawsuit


Monster Beverage is hitting back at a lawsuit alleging its energy drinks were responsible for the death of a 14-year-old Maryland girl, saying that no blood test was performed to confirm that the girl died of “caffeine toxicity.”


The disclosures come amid intensifying scrutiny of energy drinks and their caffeine levels. A lawsuit filed last year by the family of Anais Fournier said the girl went into cardiac arrest after drinking two, 24-ounce cans of Monster drinks in a 24-hour period. The Food and Drug Administration has also said it is investigating reports of deaths linked to energy drinks, including five that cite Monster beverages. The agency notes that the reports don’t prove the drinks caused the deaths.


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