Oct. 5--Current Nebraskan Warren Buffett and former Nebraskan Pete Peterson are financial supporters of efforts to control the spread of nuclear weapons.

The World Institute for Nuclear Security is a new independent entity organized through the Nuclear Threat Initiative, a New York nonprofit supported by Buffett, chairman of Berkshire Hathaway Inc., and Peterson, former U.S. Treasury secretary.

Buffett also took part in Peterson's "I.O.U.S.A." movie, which warns that U.S. government spending and economic policies will cause serious problems for the nation.

The new institute, supported largely by Peterson's contributions, provides a forum for professionals to exchange ideas on how to keep nuclear materials out of unfriendly hands. It's based in Vienna, Austria, to be close to the International Atomic Energy Agency's headquarters there.

Buffett has supported anti-nuclear weapons efforts for years. He has said governments and private groups need to act to prevent nuclear attacks by terrorists or rogue nations.

Heading the Nuclear Threat Initiative is Sam Nunn, a former U.S. senator.

Buffett, a Democrat and supporter of presidential nominee Sen. Barack Obama, had suggested Nunn as a vice presidential running mate before Obama picked Sen. Joe Biden.

Buffett and Peterson each pledged $2.5 million this year and $2.5 million next year for Nunn's group, which aims at increasing security for nuclear weapons materials around the globe. Buffett also acts as an adviser to the initiative's board of directors.

The initiative says about 40 countries have nuclear weapons material, some of it subject to theft and resale.

Book party

Alice Schroeder, whose "Snowball" biography of Buffett went on sale last week, plans a book-celebration party at the New York Yacht Club on West 44th Street later this month.

Buffett isn't scheduled to attend. The invitation specifies business attire.

Also, no photography will be allowed, including by cell phone cameras. A professional photographer will set up in a "limited area" for guest photos.

Schroeder doesn't plan to sign books so she can "celebrate with her guests," although she will sign books at a New York City Border's bookstore. (She'll also sign books at the Bookworm at Countryside Village in Omaha at 1 p.m. next Sunday.)

The New York Yacht Club, formed in 1844, has 3,200 members, 54 percent of whom own yachts ranging from 22 feet to 289 feet long, as well as 1,116 sailboats and 614 power boats, according to the club's brochure.

Adding value

Only two of the 10 largest U.S. companies gained market value over the past week: Berkshire Hathaway Inc. and Procter & Gamble.

Berkshire, No. 5 (behind Exxon Mobil, General Electric, Microsoft and Wal-Mart), saw its stock value gain $5.9 billion to $215 billion, up 2.8 percent for the week.

Exxon Mobil's value is $415.5 billion. Berkshire ranks ahead of Procter & Gamble, Johnson & Johnson, Chevron, AT&T and Bank of America.

--Contact the writer: 444-1080, steve.jordon@owh.com

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