Buffett's Mobile-Home Unit Should Be Probed, Lawmakers Say (Bloomberg)
U.S. lawmakers called for federal investigations into Clayton Homes, the mobile-home business at Warren Buffett’s Berkshire Hathaway Inc., after the Seattle Times and BuzzFeed News wrote that the company targeted minority borrowers and charged them higher interest rates on average than whites. [...]
Berkshire Hathaway's Clayton Homes Problem (Fool)
Clayton has always been an interesting case in the manufactured homes business because it has managed to survive and thrive while competitors have gone into bankruptcy. The three largest manufactured housing companies at the turn of the 21st century all went bankrupt in the decade that followed. [...]
Clayton Homes isn't exactly a needle-moving company for the Omaha-based conglomerate. Last year, Clayton generated $558 million in pre-tax profits, a mere fraction of Berkshire's pre-tax earnings of $28.1 billion for the full year. Clayton is a headline risk, and not much more.
Buffett's Berkshire Hathaway boosts stake in Phillips 66 (Houston Business Journal)
Warren Buffett’s Nebraska-based Berkshire Hathaway Inc. has upped its stake in Houston-based Phillips 66, even as oil prices keep hitting new lows.
The Associated Press reports that Berkshire recently bought an additional 759,295 shares of Phillips 66. That brings Berkshire’s stake to 62.3 million shares, or about 12 percent of the oil refiner's stock, according to the AP. [...]
Berkshire Hathaway: 3 Key Factors for 2016 (Fool)
Berkshire is large and diversified, but three components of the business really move the needle. The performance of its insurance units, the BNSF railroad, and the stock portfolio and put options overshadows virtually everything else.
With that in mind, here are a few particular issues underlying the three major drivers of Berkshire's bottom line. [...]
SolarCity cuts 550 jobs in Nevada after Buffett win (Salt Lake Tribune)
SolarCity Corp. plans to eliminate more than 550 jobs in Nevada, most of its employees in the state, after regulators approved new utility fees on solar rooftops. [...]
NV Energy, a unit of Warren Buffett's Berkshire Hathaway Inc. that owns Nevada's two biggest utilities, had sought the changes to recoup money that it says solar customers aren't paying for grid operations. The company's monthly fee for solar customers has jumped 40 percent to $17.90.
Green light for Walnut Ridge (reNews)
Illinois county officials have approved Berkshire Hathaway’s 215MW Walnut Ridge wind farm, overruling the local zoning board of appeals that had rejected the proposal. The Bureau County Board this week voted to grant conditional use permits for 118 turbines. Nine applications were denied because they were too close to two landing strips.
Walnut Ridge is owned by BHE Renewables, a wholly owned subsidiary of Iowa-based Berkshire Hathaway Energy. The project includes two substations. BHE plans to start construction this year and achieve commercial operation in 2017. [...]
5 Mind-Blowing Numbers From Warren Buffett’s Stock Portfolio (Fool)
$128 billion: This is the current market value of Berkshire Hathaway's holdings, assuming it didn't buy or sell a share of stock during the fourth quarter of 2015.
If Berkshire's stock portfolio were a stand-alone company, it would have the 37th largest market capitalization, sitting behind computer giant IBM and just before pharmaceutical company Allergan. [...]
Securities Trader to Forfeit More Than $11 Million for Role in Hacking Scheme (WSJ)
Following up on an older story from last summer...
A securities trader agreed to give up more than $11 million for his role in an international hacking scheme that authorities say netted the group millions of dollars by trading on confidential financial information. [...]
Hackers, the authorities said, targeted Marketwired LP, UBM PLC’s PR Newswire and Berkshire Hathaway Inc.’s Business Wire.
NetJets Announces Brand Partnership with Tennis Star & Olympian Maria Sharapova (BusinessWire)
NetJets® Inc., a Berkshire Hathaway company and the worldwide leader in private aviation, announced its newest brand partnership with tennis great Maria Sharapova. NetJets is the official private aviation partner for Ms. Sharapova.
In her role as a brand ambassador, Ms. Sharapova will work with NetJets’ marketing, with a particular focus on social media. She will also provide exclusive experiences for NetJets owners throughout the partnership. [...]
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