Marketplace All-in-One Warren Buffett steps down, ending an era at Berkshire
Jan 2, 2026
Nancy Marshall-Genzer, a veteran Marketplace reporter, discusses Greg Abel stepping into the CEO role at Berkshire Hathaway, exploring his cautious cash strategy and its implications. Diane Swonk, KPMG's chief economist, highlights the paradox of a strong stock market contrasted with job market weaknesses and firms' reluctance to hire, affecting new job seekers. The conversation shifts to the evolving landscape of movie criticism in the era of social media, raising questions about the relevance of traditional critics.
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Berkshire Gets An Active, Cautious Leader
- Greg Abel is now CEO of Berkshire Hathaway after decades as vice chairman and operator of non-insurance businesses.
- Abel leans toward active management and values cash as a buffer rather than rushing to deploy it.
Strong Stocks, Weak Jobs
- Stocks posted double-digit gains in the year but the labor market showed weakness and slowing hiring across 2025.
- Diane Swonk warns employment gains were the weakest since 2020 and hiring isn't keeping up with new entrants to the labor force.
Hiring Slows, Not Mass Layoffs
- Companies are cutting back on adding positions rather than conducting mass layoffs, leaving job seekers worse off.
- Seasonal holiday data may mask higher actual layoffs, so headline numbers can understate weakness.