It is hard to believe that Brooks, known for is brand ethos 'Run Happy,' was on the brink of bankruptcy in 2001. A white-hot brand in the '70s and '80s, Brooks made shoes and apparel for a variety of sports including basketball, tennis, and football, until 2001 when Jim Weber came on as CEO. With the company losing money on many of its product lines, Weber decided to undertake a massive strategy change. He narrowed Brooks's focus to running, cutting products that produced $30 million in annual revenue. The move paid off. According to Weber, in the last 13 years the Seattle-based company has grown 18 percent compound, and is expected to crack $500 million in revenue this year.
NetJets Nearing Official Launch in China (Business Wire)
NetJets Inc., a Berkshire Hathaway company and the worldwide leader in private aviation, announced today that it is hiring employees in China, partnering with vendors and positioning aircraft in the market so it can quickly begin operating its NetJets China business once government approval for the operating certificate is finalized – expected mid-year in 2014. [...] The company is also expanding relationships with key vendors, such as Savoya, one of the world’s finest chauffeured ground transportation service providers and the industry leader in applying technology to deliver precise and reliable service to every passenger.
New Heinz Co. owners offer buyouts to all HQ workers (Dallas News / AP)
The new owners of H.J. Heinz Co. have offered buyouts to all workers in Pittsburgh, where the ketchup-and-food giant has been based for decades, but insist the offer doesn’t signal a plan to move the company’s headquarters. Instead, Heinz officials said the buyout is being offered because the new owners Berkshire Hathaway and Brazilian investment firm 3G Capital recognize the company’s new culture might not be “the perfect fit” for longtime Pittsburgh-based employees. Heinz officials said any workers who quit will be replaced, leaving the company with the same number of workers in Pittsburgh. The buyout offers, which begin at six months’ severance pay and increase depending on years of service, were sent out last week to all 775 Pittsburgh employees.
Google Signs Renewable Energy Deal With MidAmerican Energy (RTT News)
Google Inc. has signed a renewable energy deal with MidAmerican Energy Holdings Co., the two companies said Tuesday. Under the deal, MidAmerican Energy, a unit of billionaire Warren Buffett's Berkshire Hathaway Inc. will supply up to 407 megawatts of wind-sourced energy to Google's data center in Council Bluffs, Iowa. The deal with MidAmerican represents Google's seventh and largest renewable energy purchase to date, bringing the total amount of renewable energy that the company has contracted for to over one gigawatt, or 1,000 megawatts. The wind power for the Iowa data center will come from several wind projects that are part of MidAmerican Energy's Wind VIII program, an initiative under which that company will bring 1,050 megawatts of new Iowa wind power online by the end of 2015.
Warren Buffett Thinks This is The Most Important Business in Our Economy (Fool)
BNSF carries about 15% (measured by ton-miles) of all inter-city freight, whether it is transported by truck, rail, water, air, or pipeline. Indeed, we move more ton-miles of goods than anyone else, a fact establishing BNSF as the most important artery in our economy's circulatory system. Its hold on the number-one position strengthened in 2013.
N2Power Announces Agreement with TTI Europe, Inc. to Partner as N2Power’s Master Distributor for Europe(BusinessWire / MarketWatch)
N2Power, a division of Qualstar Corporation, is pleased to announce its distributor agreement with TTI Europe, Inc. (TTI). TTI will handle all coordination of orders, shipments, and inventory of all N2Power products throughout Europe to better serve our European distributor and customer base, as well as promoting the adoption of N2Power products in new designs. [...] TTI, Inc., a Berkshire Hathaway company, is the world’s leading specialist distributor of passive, connector, electromechanical, discrete and power components.
Johns Manville Announces Expanded Mineral Wool Availability in Canada (BusinessWire / MarketWatch)
Johns Manville (JM), a Berkshire Hathaway company and leading building products manufacturer, has added commercial and residential mineral wool to its full spectrum of insulation products, giving Canadian customers more options, security and flexibility when sourcing mineral wool to meet project demands. JM mineral wool insulation offers a variety of performance benefits in both commercial and residential construction. With a high melting point in excess of 109C, mineral wool can help delay fire spread, create quieter buildings and homes, increase privacy between rooms and reduce heating and cooling costs by keeping structures warm in winter and cool in summer.
R.C. Willey opens largest store in Draper (Furniture Today)
Even before today’s grand opening, R.C. Willey’s new and largest store here got off to a quick start. The Salt Lake City-based Top 100 retailer, part of Berkshire Hathaway’s furniture division, soft-opened the 160,000-square-foot store a couple of weeks early “to make sure we get all the bugs worked out,” said President Jeff Child, and it immediately exceeded expectations. Sales over the first four days of the soft opening approached $1.5 million, he said, adding that R.C. Willey is hoping the store will do $65 million to $70 million in annual sales. That would be more than double the volume of its nearby Taylorsville location, which closed with the Draper opening.
Future Metals Opens Dayton, Ohio Service Center (BusinessWire / Yahoo) Thanks to writing these news posts for over two years, I can now spot a Berkshire Hathaway subsidiary from 500 yards away. But even I can't begin to keep track of every sub-subsidiary that Marmon owns. This one is new to me.
Future Metals, a worldwide specialty metals distributor to the aerospace manufacturing and maintenance industry, recently opened its ninth metals service center. [...] The new Dayton facility, which officially opened its doors in January 2014, provides aerospace manufacturing and aftermarket customers in the Midwestern United States with localized inventory and just-in-time deliveries. Products being carried include stainless, nickel, titanium and aluminum tubing as well as extrusions, sheet and bar products. [...] Future Metals and its affiliate companies, including Marmon/Keystone LLC, are Marmon Distribution Services/Berkshire Hathaway companies and members of The Marmon Group [...]
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