New NetJets Chief Executive Adam Johnson just might be the most effective letter writer in the country.
The 44-year-old executive has twice in six years written letters to Warren Buffett, the owner of the fractional jet-ownership company, suggesting that he can the CEO — and twice gotten the billionaire investor to act, The Post has learned.
Johnson was instrumental in not only toppling Jordan Hansell in recent weeks, but also took a lead role in pressuring Buffett’s Berkshire Hathaway in 2009 to replace NetJets founder Richard Santulli, a source with direct knowledge of the situation told The Post. [...]
Two related stories of layoffs at Shaw Industries factories in Alabama and Georgia. Overall, they say they're adding employees, but the changes in their operations are redistributing where those jobs are.
Shaw Industries, Valley Head's largest employer, to cut 160 jobs this summer (AL.com)
DeKalb County will lose 160 jobs when one of its largest employers begins making cuts this summer at its Valley Head plant.
Shaw Industries, a flooring company based in Dalton, Ga., announced today it is reducing its workforce in northeast Alabama, leaving approximately 195 associates in Valley Head following the reduction. [...]
Scruggs said the company has announced $342 million in investments over the last 18 months to grow its hardwood, resilient, carpet tile, extrusion, distribution and recycling operations in the the U.S.
"At full capacity, these expansions will create almost 1,000 jobs throughout the Southeast," he said. "As we continue to grow, we will continually adjust production to match market demands and and to leverage our investments in more advanced technology."
Shaw announces 267 layoffs at Bainbridge plant (Post Searchlight)
In a letter dated June 4, Shaw Industries Group, Inc. informed the City of Bainbridge of an impending mass layoff at the Shaw Plant 70 in Bainbridge.
“This mass layoff will result in approximately 267 employees being permanently laid off,” the letter addressed to Bainbridge Mayor Edward Reynolds reads. [...]
In a press release, the company said that it is “re-aligning” its production processes leading to a downsize of Bainbridge’s facility. [...]
“Shaw Industries Group, Inc. is re-aligning its production capacity to better service its customers. Over the past months, we have increased capacity at our fiber extrusion facilities in North Georgia and South Carolina to take advantage of technology investments that we have made in these facilities,” according to the release.
Renewable Energy In U.S. Heartland: How States Make It Work (Clean Technica)
Traditional investor-owned electric utilities rely on a guaranteed return on equity set by electricity regulators. Utilities typically earn this return by investing in generation systems such as coal and gas power plants or solar and wind farms (assets) and selling electricity to recover their investment, plus a return. In Iowa, MidAmerican has gone beyond this model to lower retail costs by selling their excess wind power to the local regional transmission organization. This let them increase the total amount of wind power on the grid and balance overall power generation. This has been so effective that MidAmerican plans to invest another $900 million in wind energy in Iowa, bringing the company’s total wind investment to $6.7 billion. The western Energy Imbalance Market, in turn, may let other Berkshire Hathaway Energy subsidiaries replicate this success. [...]
Five Minutes With…Craig Taylor, head of property, Berkshire Hathaway Specialty Insurance (Insurance Business)
Craig Taylor, head of property, Berkshire Hathaway Specialty Insurance talks about public awareness of the industry, the challenges of the future and the mountains. [...]
Q: What’s the most important thing a broker can do to develop their business?
A: Be in touch with their customers’ industry and identify and respond to the changing environments. The world is changing at a rapid pace, so responding to those changes will create opportunity around added value initiatives whilst still delivering on core competencies. If clients think you’re at the top of the game, they will recommend you to peers.
Winning bid for lunch with Warren Buffett tops $2.3 million (Yahoo/AP)
A Chinese company that develops online games bid more than $2.3 million Friday to win a private lunch with Warren Buffett.
Beijing-based Dalian Zeus Entertainment Co. bid $2,345,678 to win the online auction. The Glide Foundation uses the auction proceeds to help the poor and homeless in San Francisco.
Warren Buffett, Mark Cuban get 'Entourage' movie cameos (CNBC)
The highly anticipated big-screen version of the HBO series "Entourage" hits the big screen this weekend, offering an insider look at the business of Hollywood. [...]
Berkshire Hathaway Chairman and CEO Warren Buffett appears midway through the film, as he crosses paths with Ari Gold. Buffett's cameo is brief, but he does manage to toss off a few memorable one-liners before zipping off in his golf cart across the Warner Brothers studio backlot.
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