FAIRFIELD TOWNSHIP, Ohio (AP) — A 74-year-old woman charged in the armed robbery of an Ohio credit union last week is a victim of an online scam who may have been trying to solve her financial problems, according to her relatives.
Ann Mayers, who had no previous run-ins with the law, faces counts of aggravated robbery with a firearm and tampering with evidence in Friday's robbery in Fairfield Township, north of Cincinnati. She remained jailed Wednesday on $100,000 bond pending an initial court appearance, and court records don't list an attorney for her.
Officers arrested Mayers at her Hamilton home shortly after the robbery, Fairfield police said in a Facebook post. A handgun was found in her car, which police allege she used in the robbery.
Authorities later learned that Mayers might have been a scam victim and are looking into the claims. Her relatives told detectives that she had been sending money to an unidentified individual, The Columbus Dispatch reported Wednesday.
“In that aspect, some may see her as a ‘victim,'" Sgt. Brandon McCroskey told the newspaper. "Unfortunately, Ann chose to victimize several other people in the bank by robbing it with a firearm as a remedy for her situation.”
If what her relatives say is true, McCroskey called Mayers’ situation “very sad and unfortunate.” He said she reportedly spoke with family members about robbing banks in the days leading up to the holdup, but they didn't take her comments seriously.
Scams against seniors have become increasingly common over the last 10 to 15 years, according to experts. Among them are so-called grandparent scams in which callers claim to be anyone from a victim's grandchild to a police officer and tells the victim something terrible happened and that their younger relative needs money.
The scammers seek to exploit older people’s love for their family and, experts note, they can succeed in part because they tap into the abundance of personal information available about people online and use it make seniors believe the calls are legitimate.
An 81-year-old Ohio man was charged with murder this month after he fatally shot an Uber driver because he wrongly assumed she was part of a scheme to extract $12,000 in supposed bond money for a relative, authorities have said.
The driver was a victim of the same con, summoned by the grifters to the man's house to retrieve a purported package for delivery. The man later told investigators he believed Hall had arrived to get the money the scammers wanted.
This image made from Fairfield Township, Ohio, Police Department body camera video shows Ann Mayers waiting outside of her home with police on Friday, April 19, 2024, in Hamilton, Ohio. The 74-year-old woman charged in the armed robbery of an Ohio credit union last week is a victim of an online scam who may have been trying to solve her financial problems, according to her relatives. Mayers, who had no previous run-ins with the law, faces counts of aggravated robbery with a firearm and tampering with evidence in Friday's robbery in Fairfield Township. (Fairfield Township Police Department via AP)
OMAHA, Neb. (AP) — Warren Buffett's company reported a steep drop in earnings Saturday because the paper value of its investments fell, but the tens of thousands of shareholders filling an Omaha arena to hear Buffett answer questions at the annual meeting later can take heart that Berkshire's Hathaway's many businesses performed well.
Berkshire reported a $12.7 billion profit, or $8.825 per Class A share, in the quarter. That's roughly one-third of the $35.5 billion, or $24,377 per A share, that Berkshire reported a year ago.
But those figures were heavily swayed by a large drop in the paper value of Berkshire's investments. That's why Buffett encourages investors to pay more attention to the conglomerate's operating earnings that exclude the investment figures. By that measure, Berkshire's operating earnings jumped 39% to $11.222 billion from last year's $8.065 billion as its insurance companies led a strong performance.
The three analysts surveyed by FactSet Research had predicted operating earnings of $6,701.87 per Class A share.
Berkshire reported a $2.6 billion underwriting profit at its insurers, up from $911 million a year ago.
BNSF railroad's profits did disappoint and drop 8% to $1.143 billion, but most of its many other companies delivered solid results, including a 72% jump in operating profits at the utility unit that added $717 million to Berkshire's total.
Berkshire's revenue grew 5% to $89.87 billion in the quarter. The two analysts who reported estimates to FactSet predicted $87.044 billion revenue.
With no major acquisitions in sight, Berkshire's massive cash pile continued to grow to a record $188.993 billion in the quarter. Berkshire even spent $2.6 billion repurchasing shares during the first three months of the year, but its companies that include Geico insurance, BNSF railroad, several major utilities and an assortment of dozens of others keep generating mountains of cash.
The main arena was already three-quarters full within half an hour of the doors opening Saturday because people are always eager to vacuum up tidbits of wisdom from billionaire Warren Buffett. But a key ingredient is missing this year: It’s the first meeting since Vice Chairman Charlie Munger died.
“He was the sriracha sauce in the Berkshire Hathaway meeting," said investor Bill Smead, a regular at the event for 14 years. "He gave it a lot of flavor.”
For decades, Munger shared the stage with Buffett every year for the marathon question and answer session that is the event's centerpiece. Munger routinely let Buffett take the lead with expansive responses that went on for several minutes. Then Munger himself would cut directly to the point. He is remembered for calling cryptocurrencies stupid, telling people to “marry the best person that will have you” and comparing many unproven internet businesses in 2000 to “turds.”
He and Buffett functioned as a classic comedy duo, with Buffett offering lengthy setups to Munger's witty one-liners. Together, they transformed Berkshire from a floundering textile mill into a massive conglomerate made up of a variety of interests, from insurance companies such as Geico to BNSF railroad to several major utilities and an assortment of other companies.
Munger often summed up the key Berkshire’s success as “trying to be consistently not stupid, instead of trying to be very intelligent.” He and Buffett also were known for sticking to businesses they understood well.
“Warren always did at least 80% of the talking. But Charlie was a great foil,” said Stansberry Research analyst Whitney Tilson, who was looking forward to his 27th consecutive meeting with a bit of a heavy heart because of Munger's absence.
That absence, however, may well create space for shareholders to get to know better the two executives who directly oversee Berkshire's companies: Ajit Jain, who manages the insurance units, and Greg Abel, who handles everything else. Abel will one day replace the 93-year-old Buffett as CEO.
Morningstar analyst Greggory Warren said he hopes Abel will speak up more this year and let shareholders see some of the brilliance Berkshire executives talk about. Ever since Munger let it slip at the annual meeting three years ago that Abel would be the successor, Buffett has repeatedly reassured investors that he's confident in the pick.
Experts say the company has a solid culture built on integrity, trust, independence and an impressive management roster ready to take over.
“Greg's a rock star,” said Chris Bloomstran, president of Semper Augustus Investments Group. "The bench is deep. He won’t have the same humor at the meeting. But I think we all come here to get a reminder every year to be rational.”
For more AP coverage of Warren Buffett look here: https://apnews.com/hub/warren-buffett. For Berkshire Hathaway news, see here: https://apnews.com/hub/berkshire-hathaway-inc. Follow Josh Funk online at https://www.twitter.com/funkwrite and https://www.linkedin.com/in/funkwrite.
Berkshire Hathaway Vice Chairman Greg Abel poses with shareholders Friday, May 3, 2024, in Omaha, Neb. Abel is set to be the next CEO after Warren Buffett is gone. (AP Photo/Josh Funk)
Berkshire Hathaway shareholders watch a model BNSF train run past a model town filled with other Berkshire companies Friday, May 3, 2024, in Omaha, Neb. Buffett will spend hours answering questions at a meeting Saturday. (AP Photo/Josh Funk)
Berkshire Hathaway shareholders line up to take selfies with Greg Abel Friday, May 3, 2024, in Omaha, Neb. Abel will one day replace Warren Buffett as CEO. (AP Photo/Josh Funk)
Berkshire Hathaway investment manager Ted Weschler, center, talks with Brooks Running CEO Dan Sheridan, Friday, May 3, 2024, in Omaha, Neb., one day ahead of the annual shareholders meeting. (AP Photo/Josh Funk)
Berkshire Hathaway shareholders pose with a cutout poster of CEO Warren Buffett, Friday, May 3, 2024, in Omaha, Neb., one day ahead of the annual shareholders meeting. (AP Photo/Josh Funk)
Berkshire Hathaway Vice Chairman Greg Abel poses for pictures with shareholders while touring the booths Berkshires companies set up, Friday, May 3, 2024, in Omaha, Neb. Abel will succeed Warren Buffett as CEO one day. (AP Photo/Josh Funk)
Berkshire Hathaway Vice Chairman Greg Abel checks out the flight simulators offered by one of Berkshires companies, Flight Safety as he toured the exhibit hall Friday, May 3, 2024, in Omaha, Neb. ahead of Saturday's meeting. Abel is set to succeed Warren Buffett as CEO one day. (AP Photo/Josh Funk)
