Transcription of WESCO FINANCIAL CORPORATION LETTER TO ... - …
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WESCO FINANCIAL CORPORATION LETTER TO ... - …
WESCO FINANCIAL CORPORATIONLETTER TO SHAREHOLDERSTo Our Shareholders:Consolidated net operating income ( , before realized investment gains shown inthe table below) for the calendar year 2009 decreased to $54,073,000 ($ per share) from$77,562,000 ($ per share) in the previous net income decreased to $54,073,000 ($ per share) from $82,116,000($ per share) in 2008. The 2008 figure included realized after-tax investment gains of$4,554,000 ($.64 per share). No investment gains or losses were realized in has four major subsidiaries: (1) WESCO - FINANCIAL Insurance Company ( Wes-FIC ), headquartered in Omaha and engaged principally in the reinsurance business, (2) TheKansas Bankers Surety Company ( Kansas Bankers ), owned by Wes-FIC and specializing ininsurance products tailored to Midwestern community banks, (3) CORT Business ServicesCorporation ( CORT ), headquartered in Fairfax, Virginia and engaged principally in thefurniture rental business, and (4) Precision Steel Warehouse, Inc.
WESCO FINANCIAL CORPORATION LETTER TO SHAREHOLDERS To Our Shareholders: Consolidated net “operating” income …
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