Berkshire News Briefs - 3/10/14

Several members of the Berkshire Hathaway Leadership team went on CNBC Monday morning. Warren Buffett, Ted Weschler, Todd Combs, and Tracy Britt Cool were all there. CNBC posted the transcript in this PDF. There's some good info in there, especially in the second half when they start talking to Ted and Todd. I like this bit, in reference to my reading backlog...

BECKY QUICK: [...] We are here in Omaha because-- Berkshire Hathaway's annual letter-- Warren Buffett's annual letter to the shareholders went out on Saturday morning. And, Warren, we've spent some time digesting-- a large annual letter.

WARREN BUFFETT: I get paid by the word.

25 Must-Read Quotes from Warren Buffett's Letter to Shareholders (Fool)

"Forming macro opinions or listening to the macro or market predictions of others is a waste of time. Indeed, it is dangerous because it may blur your vision of the facts that are truly important. (When I hear TV commentators glibly opine on what the market will do next, I am reminded of Mickey Mantle's scathing comment: "You don't know how easy this game is until you get into that broadcasting booth.")

Berkshire Hathaway buys AA Party Rentals (The Herald of Everett WA)

I do so love these little tuck-in acquisitions.

AA Party Rentals with locations in Mountlake Terrace and Tacoma was acquired by nationwide events company CORT in a deal anounced Thursday. AA Party Rentals has been providing rental equipment and services in the greater Seattle and Tacoma markets for more than 40 years. [...] CORT is a Berkshire Hathaway company.

Buffett’s Berkshire Reaches $300 Billion Market Cap (WSJ)

Warren Buffett didn’t grow Berkshire Hathaway Inc.’s net worth faster than gains in the S&P 500 index over the last five years, but the gigantic conglomerate recently crossed another milestone: passing the $300 billion mark in market capitalization for the first time. [...] Berkshire is already among the top 10 largest U.S. companies by market capitalization, and in recent years, has made the top-five list often. At $300 billion, its position among America’s most-valuable companies doesn’t change much. On Friday afternoon, Apple topped the list with $475 billion; followed by Google with $409 billion, Exxon Mobil close on its heels with $405 billion; Microsoft at fourth place, and ahead of Berkshire, at $316 billion.

The Best Warren Buffett Coverage You Haven't Read (Fool)

A link to more links!

For value investing disciples around the world, the annual release of the Berkshire Hathaway Letter to Shareholders is an interesting mix of fanaticism, jubilation, conversation, and conjecture. For those of us who just can't get enough, here are three reads you probably haven't seen that are interesting and uniquely insightful into the Oracle of Omaha's mind.

Here's Why Warren Buffett Is Betting Big on Renewable Energy (Fool)

Buffett's success is also his ability to acknowledge that sometimes things do change and that new competitive advantages can and must be built. MidAmerican Energy has been doing just that for the past nine years, working with companies like Siemens, SunPower, and Vestas to add renewable energy to its mix in a big way. Renewables are becoming a huge -- and growing -- part of Berkshire's competitive advantage at MidAmerican.

Brokerages to Join the New Real Estate Network During 2014's Second and Third Quarters (St. Louis Post-Dispatch)

Berkshire Hathaway HomeServices, the new real estate brokerage network operated by HSF Affiliates LLC, today announced the signing of 22 additional affiliates to the network. Several signees come from Prudential Real Estate’s Gibraltar Circle of Top 50 brokerages based on overall production. Berkshire Hathaway HomeServices now accounts for more than 26,000 agents and 700 offices in 33 states since it began transitioning affiliates in September.

Canada Tomato Law Saves Former Heinz Plant From Buffett Closing (MoneyNews)

A bit unfair to call this a "Buffett Closing"...

Canada’s insistence that tomato juice be extracted from “sound, ripe, whole” tomatoes instead of paste — a higher standard than in the U.S. — has partially saved an H.J. Heinz Co. plant marked for closing by Warren Buffett’s private-equity partner. A group of Ontario investors announced last week they plan to run the century-old plant and take over producing and distributing tomato juice for Heinz in the Canadian market. The move spared 250 of the 740 workers slated to lose their jobs in Leamington, Ontario, widely known as the tomato capital of Canada.

Berkshire spends $77 million to add to DaVita stake (NASDAQ)

Berkshire Hathaway is still buying up shares of DaVita. Most recently, Warren Buffett's firm bought 1,159,858 shares of the company's common stock on Feb. 24 for $66.58 per share. All told, Berkshire paid $77,679,440 to increase its holdings by 3.2%.