So what jumps out right away from Berkshire's latest buys? First, the company opened two brand-new positions, including one in satellite TV provider DISH Network, and another in Suncor Energy, Canada's largest oil and natural gas producer. While the DISH position is relatively small, representing only 0.03% of Berkshire's total portfolio at the end of the second quarter, the half a billion-dollar bet on Suncor is sure to raise some eyebrows, worth nearly $595 million at its recent price of $33.44 per share. What's more, Berkshire made some other big additions to existing positions, including a 60% boost in its General Motors stake to 40 million shares, currently worth more than $1.38 billion. [...] "Confidential information has been omitted from the public Form 13F report and filed separately with the U.S. Securities and Exchange Commission." Translation? Berkshire probably already made an even bigger buy that the public doesn't know about... yet.
MiTek Acquires Benson Industries, LLC (Building Online)
MiTek Industries, the world's leading supplier of advanced engineered structural connector systems, equipment, software and services for the building components industry announced today that it has acquired Benson Industries, LLC. Benson is the global leader in the design, pre-fabrication and installation of custom unitized curtain wall systems for high-end commercial, hotel, residential, governmental, and institutional buildings worldwide. MiTek is a subsidiary of Warren Buffett's Berkshire Hathaway Inc. "The acquisition of Benson extends MiTek's product offering into the global high-rise commercial building construction market. Benson is a terrific addition to the MiTek family," stated Tom Manenti, Chairman and CEO of MiTek.
Buffett invests in Suncor (Morning Ledger)
In a sense, Buffett may have thrown himself into a hot environmental debate. The prevention of oil sands expansion is one of the most significant reasons that environmentalists are urging President Barack Obama to reject the Keystone XL pipeline, which is a controversial project valued at $5.3 billion that is set to carry oil from Alberta, Canada, down to the Gulf Coast. [...] Now a major player in the debate, Buffett and his investment are being criticized. Aside from the politics, Buffett bought the stock to help ensure a steady supply of oil for his BNSF railroad to transport. [...] Suncor is considered to be well run and owns large tracts of oil sands resources from which the oil production, despite the objections of the environmental groups, will continue to grow.
Buffett's railway line to invest $300m in Plains states oil haulage expansion (Stock House)
BNSF Railway Co., a transport company owned by Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A, Stock Forum), said it was investing more than $300 million to improve railway systems in the northern Plains states, which host major oil deposits. The rail company said it plans to invest $115 million on rail projects in Montana this year. This includes the replacement of nearly 100 miles of rail. A $220 million investment in North Dakota finances the replacement of about 315 miles of rail this year.
Burlington Northern Issues $1.5 Billion of Bonds in Two Parts (Bloomberg)
Burlington Northern Santa Fe LLC issued $1.5 billion in a two-part bond sale, its first offering in five months. The railroad that Warren Buffett’s Berkshire Hathaway Inc. bought in 2010 sold $800 million of 3.85 percent, 10-year notes that yield 117 basis points more than similar-maturity Treasuries and $700 million of 5.15 percent, 30-year securities at 140 basis points more than benchmarks, according to data compiled by Bloomberg.
Union sues BNSF over contract on short line (Omaha World-Herald)
A labor union representing railroad workers has sued BNSF Railway, saying the unit of Omaha's Berkshire Hathaway Inc. is violating a collective bargaining agreement covering a handful of employees on a Nebraska short line. [...] The suit says BNSF is not honoring the union contract on a Nebraska short rail line that runs from Iowa Ferry, near South Sioux City, to O'Neill, about 100 miles away. Such lines typically employ fewer than a couple of dozen workers.
Lubrizol opens additives plant in China (Trade Only Today)
Lubrizol Corp. is opening an additives manufacturing facility in Zhuhai, Guangdong, China, the company’s latest investment in China. Construction on the 400,000-square-meter (1.41-million-square-foot) site began in October 2010. The plant will offer select additive component manufacturing and additive package blending. [...] The site also includes a Zhuhai research, development and testing lab in support of Lubrizol's engine oils, driveline, industrial and fuel additive businesses and is part of the company's global technical network of labs and experts. The lab will support field testing in local vehicles under local conditions in China, generating performance data in support of Lubrizol customers.
An uplifting celebration of Chinese firm's new plant (Omaha World-Herald)
BYD Inc. knows how to stage a ribbon-cutting. The Chinese electric vehicle company, which is 10 percent owned by Omaha conglomerate Berkshire Hathaway Inc., recently celebrated opening its battery-powered forklift assembly plant in Shaoguan Industrial Park, in Guangdong province north of Hong Kong. [...] Wang said BYD's New Energy forklift — the world's first to use iron batteries — are the future for industrial forklifts, as well as being emission-free and fast-charging. When the batteries wear out, they can be converted to energy storage, BYD said, without the heavy-metal waste of lead-acid batteries.
Prudential Fox & Roach sold to Warren Buffett company (Montgomery News)
Prudential Fox & Roach, Realtors, and its subsidiary, The Trident Group, have been acquired by HomeServices of America Inc., an affiliate of Warren Buffett’s Berkshire Hathaway. [...] Headquartered in Devon, Prudential Fox & Roach, is the fifth largest provider of brokerage and related services in the United States, according to a release announcing the acquisition. The Trident Group comprises financial services companies including Trident Mortgage Co., Trident Insurance and Trident Land Transfer Co. Prudential Fox & Roach is the largest Realtor in the tri-state Pennsylvania, New Jersey and Delaware region and the largest single market residential real estate brokerage in the U.S. with more than 4,000 sales associates in 62 offices.
Buffett Tops Reese Witherspoon as Charity Auction Draw (Bloomberg)
Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., drew a top offer of $118,000 for an all-you-can-eat tour of a See’s Candies factory, with less than 3 hours left in the charity auction. [...] Buffett is among celebrities who are supporting auctions to benefit Communities in Schools of Los Angeles, a high school dropout-prevention program. The top offer for lunch with actress Reese Witherspoon was $6,000.
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