The Berkshire Hathaway Annual Shareholders Meeting is this Saturday in Omaha. Once again this year, Yahoo Finance will live stream the meeting. It all starts Saturday, May 6, 2017 at 10am EST (9am for the people in Omaha).
Berkshire Buys $250M In Sirius Tracking Stock
[...] in the last two weeks, subsidiaries of Berkshire Hathaway have bought more than a quarter billion dollars in shares of Liberty Media (LSXMA, LSXMK) that track Sirius XM Holdings (SIRI).
On April 19, Berkshire disclosed that it was a 10% holder of Liberty SiriusXM : 10.7 million series A shares and 23.4 million series C shares.
Since then, Berkshire has only hauled in more shares. From April 20 through 24, its subsidiaries have bought 2,470,117 more series A shares for $98.7 million and 3,875,011 more series C shares for $155 million. [...]
Liberty Media's CEO thanked Ted Weschler by name in a tweet about the purchase.
Buffett, who owned about 81 million shares of IBM at the end of 2016, sold off about a third of that stake in the first and second quarters of 2017, he told CNBC.
"I don't value IBM the same way that I did 6 years ago when I started buying... I've revalued it somewhat downward," Buffett told CNBC. "When it got above $180 we actually sold a reasonable amount of stock."
Buffett said IBM hadn't performed the way he had expected -- or the way IBM's management had expected -- when he first started buying the shares six years ago. [...]
Berkshire's Duracell sues over gray market battery imports
Duracell, a unit of Warren Buffett's Berkshire Hathaway Inc, on Thursday filed a lawsuit accusing a Missouri wholesaler of illegally selling gray market versions of its copper-top alkaline batteries.
According to a complaint filed in federal court in Chicago, JRS Ventures Inc is importing and selling batteries made in China that were intended for sale only to Duracell's original equipment manufacturers, to be packaged with products such as appliances and remote controls.
Duracell, which long used the tagline "no regular battery looks like it or lasts like it," said JRS's batteries do look like its own but come in packaging that does not mention Duracell's 10-year guarantee or how to obtain customer service. [...]
Why Warren Buffett's candy company canceled its East Coast expansion
[...] And yet, See’s isn’t super well-known outside of the West Coast. Its dual headquarters are in Los Angeles and San Francisco, and the lion’s share of its 250 stores are in California.
Back in 2012, See’s mapped out a plan to change that. CEO Brad Kinstler, a former insurance CEO tapped by Buffett to run See’s in 2005 (and still there today), formed an ambitious expansion plan. The aim was to open new See’s stores in Florida, Georgia, Maryland, and Washington, DC.
That didn’t happen; there still aren’t See’s stores in any of those places. The expansion of See’s to the East Coast fizzled. The reason? The broader demise of brick-and-mortar retail.
“Our hope was to develop more markets to the East,” Kinstler now tells Yahoo Finance. “But the brick-and-mortar and the indoor mall environment has changed the view we have on the potential to add new trade areas. Foot traffic in these more traditional settings is an impediment to new trade area success.” [...]
See’s did open its first ever New York store in January of this year, in Manhattan’s West Village. But it is a licensee shop, not owned or operated by See’s. [...]
Clayton builds $14M training lodge, donates old structures for safehouses
Clayton, a Berkshire Hathaway home building company, is constructing a $14 million training lodge at its corporate headquarters in Maryville.
The three-story, log cabin-style lodge will replace the old lodge currently on the company's campus. [...]
Clayton is working with a Dayton nonprofit called Blazing Hope Ranch to re-purpose some of its old structures. The organization aids survivors of human trafficking and will use some of the old buildings on the lodge site to house survivors. [...]
Looks like the Omaha World Herald hasn't learned how to properly turn articles like this into a 20 page slideshow to maximize ad revenue and social media sharing. Here's the first 5 on the list. #14 will make you squeal!
1. Keep it dry: Automatic sump pumps from Wayne Water Systems
2. Lift it: Truck-mounted telescoping cranes from Stahl
3. Warm it: Heating & AC ductwork from Snappy Co.
4. Brighten it: LED lighting from TTI Inc.
5. Wire it: 90-degree conduit pull elbow from Halex
[...]
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.