The Pampered Chef Names Tracy Britt Cool Chief Executive Officer (BusinessWire)
The Pampered Chef, Ltd., a Berkshire Hathaway company, today announced that it has appointed Tracy Britt Cool as Chief Executive Officer, effective November 1, 2014. Cool, 30, has been with Berkshire Hathaway for five years, serving as Financial Assistant to the Chairman. In this role, her responsibilities included conducting investment research, analyzing acquisition opportunities, and advising Berkshire Hathaway subsidiaries in various industries. Cool will continue to serve as chairman of Berkshire Hathaway companies Benjamin Moore, Larson-Juhl, and Oriental Trading Company, and will remain on the board of the H.J. Heinz Company.
The Education of Warren Buffett’s protégé (Fortune)
Tracy Britt Cool has spent the last five years getting schooled on spotting talent and running a business. Now she’s the newest female CEO in the Berkshire portfolio. [...] Buffett’s giving Cool, now 30, her first big operating role. On Monday, the Oracle of Omaha announced that Cool will become the CEO of Pampered Chef on November 1, replacing founder and current chief Doris Christopher, a home economics teacher who started the Pampered Chef in 1980 by selling kitchen tools from her basement. Christopher will remain at the company as chairman.
Warren Buffett's newspaper division sells direct mail marketer (Omaha World-Herald)
Warren Buffett’s newspaper division has sold its direct mail marketing company. BH Media Group of Omaha sold World Marketing Inc. to Milwaukee businessman Robert M. Kraft and an investment group for an undisclosed amount. [...] World Marketing’s corporate headquarters and administrative operations in La Vista are moving to Milwaukee. Offices and production facilities will remain in Atlanta, Chicago, Dallas and St. Louis. Altogether, the company has 450 employees. World Marketing processes more than 1 billion pieces of mail a year for clients including American Airlines, Kraft Foods, Bristol-Meyers Squibb and Blue Cross Blue Shield.[...]
Buffett’s NetJets China Growth Slowed by Austerity Moves (Bloomberg)
NetJets Inc., the aviation unit of Warren Buffett’s Berkshire Hathaway Inc., will need about five years to make self-sustaining the chartered jet business it began last month in China, as government officials shun private jets. The Chinese Communist Party’s austerity measures are dragging on growth for private aviation, which also faces an economic slowdown and a lack of general aviation airports, said Robert Molsbergen, president of NetJets’ executive jet management unit. “Typically a lot of the flying in China was done by Chinese officials and that basically is almost all gone,” Molsbergen said [...]
Berkshire Hathaway Names Mary Rhinehart Chairman of Johns Manville (BusinessWire)
(Not surprising, since she was already CEO and President, which is why Tracy Britt Cool gets the top headline this week while this one is tucked in the middle.)
Johns Manville (JM), a Berkshire Hathaway company and global building products manufacturer, today announced that Mary Rhinehart has been named Chairman of the company. Rhinehart was appointed as JM President and Chief Executive Officer in November 2012. [...] Rhinehart has held a variety of roles during her 35-year career, including as general manager of several Johns Manville business units. Before being named CEO, she was Chief Financial Officer, providing her breadth of experience in all financial operations of the company, including M&A. From human resources to supply chain management, Rhinehart’s wide range of responsibilities have also encompassed global business management and strategic business development.
Berkshire’s BNSF to Add Surcharge on Older Oil Tank Cars (Bloomberg)
BNSF Railway Co. plans to apply a $1,000 surcharge for each older crude tank car, denting profits for shale drillers in North Dakota. The railroad owned by Warren Buffett’s Berkshire Hathaway Inc. is the first major U.S. operator using fees to encourage shippers to scrap the puncture-prone older cars. The charge, which goes into effect Jan. 1, would add about $1.50 a barrel to the cost of transporting oil on them.
Berkshire Hathaway's QSR Chain Dairy Queen Seeks Partner For India Foray (DealCurry)
(QSR = "Quick Service Restaurant")
US based ice cream and QSR chain, Dairy Queen is looking for a partner to foray into the Indian QSR market. The unit of Berkshire Hathaway’s is planning to open its burger chain in the country. The company was said to be in talks with Reliance Retail Ltd. for launching its dairy business in the country, however the deal did not consummate.50 Warren Buffett Quotes That Will Make You a Better Investor (Fool)
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