There was a lot of news last month, and I fell behind on posting, so there are three posts this time. This is part 2, with news about Berkshire Hathaway's subsidiary companies.
(Part 1 - General Business | Part 3 - Miscellaneous)
International Dairy Queen, Inc. today announced the signing of a multi-unit development agreement to expand into the Republic of Korea with plans to open 50 DQ Grill & Chill locations within the next five years. [...]
(On a tangentially related note, did you know you could ask DQ staff to add coffee to a Blizzard? I can't believe I didn't know about this "secret menu" item before last week.)
Fruit of the Loom names Melissa Burgess-Taylor CEO
Fruit of the Loom, a Berkshire Hathaway Inc. unit, said it named Melissa Burgess-Taylor as the chief executive officer and chairman, following the death of Rick Medlin.
Medlin, who had held the top post at the apparel company since 2010, died on Sunday of natural causes, the company said. [...]
Burgess-Taylor, who has been with the company for more than 17 years, is currently senior vice president of brand management and sales for Fruit of the Loom and Vanity Fair Brands.
Global thermoplastic polyurethane leader Lubrizol Corp. has named company veteran Eric Schnur as chairman, president and CEO.
Schnur has been with Wickliffe, Ohio-based Lubrizol for more than 27 years. He’s held the roles of president and chief operating officer since June. Prior to that move, Schnur served as president of the firm’s Advanced Materials unit — including TPU — for eight years.
The move was effective Jan. 2. Schnur replaces James Hambrick, who’s retiring after a 38-year career with Lubrizol. [...]
Nebraska Furniture Mart COO Ron Blumkin’s successor named
Nebraska Furniture Mart President and Chief Operating Officer Ron Blumkin will leave his position as part of the company’s long-term succession planning, the company said Friday.
Tony Boldt, director of the Mart’s Kansas City store, will take the role of president and COO. Blumkin will serve as chairman, and Irv Blumkin will remain chief executive. [...]
Berkshire Hathaway Unit Acquires Snappy Company
Berkshire Hathaway company unit MiTek Industries, Inc. announced that its subsidiary, M&M Manufacturing, has acquired Snappy Company.
Snappy is a leading supplier of metal duct systems for the residential HVAC market, with manufacturing facilities in Detroit Lakes, MN; Medina, NY; and corporate offices in Marietta, GA.
Snappy will complement M&M Manufacturing, a leading producer of sheet metal products, primarily servicing the air distribution and ventilation markets. [...]
OCI Solar Power seeks to sell Alamo 6 solar farm to Warren Buffett-owned company
San Antonio-based solar developer OCI Solar Power is seeking state approval to sell its Alamo 6 solar farm to a subsidiary of Warren Buffett's multinational holding company Berkshire Hathaway. A sale price has not been disclosed but OCI Solar Power officials confirmed that the company signed a purchase agreement to sell the West Texas solar farm. Located in Pecos County, Alamo 6 remains under construction but once complete it will supply 110.2 megawatts of electricity to San Antonio's municipally-owned utility company CPS Energy. [...]
The sharing economy brings tycoon lifestyles within reach of some
Tycoon living begins with a private jet. Whereas yachts are dispensable (not everyone wants to float around for weeks with the same dinner companions) private jets are necessities for the aspiring billionaire. [...]
No longer do you need a net worth in the hundreds of millions of dollars to have one. With 700 jets, NetJets is now the fifth-largest airline by number of planes, after Southwest Airlines, and it has access to thousands of private airports. Its main innovation was to apply the principle of fractional ownership, or time-sharing, to the ultimate executive tool. Customers buy a share in a jet which entitles them to, say, 200 hours of travel a year. [...]
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