Berkshire Misc. Briefs - 1/5/17

There was a lot of news last month, and I fell behind on posting, so there are three posts this time. This is part 3, with miscellaneous news that didn't fit in the other two categories. That doesn't mean these are any less interesting, though!

(Part 1 - General Business | Part 2 - Subsidiaries)

HBO Sets Warren Buffett Documentary Premiere Date

HBO announced the premiere date for upcoming documentary “Becoming Warren Buffett” on Wednesday. The personal profile will premiere on Jan. 30 at 10 p.m./9c and will tell the true story of how an ambitious, numbers-obsessed boy from Nebraska became one of the richest men in the world.

Told primarily in Buffett’s own words, the film features never-before-released home videos, family photographs, archival footage and interviews with family and friends. [...]

Watch the trailer on YouTube.

Why Yahoo Shared an Investor Meeting in Omaha With the World

In April 2016, for the first time Yahoo Finance livestreamed the Berkshire Hathaway annual meeting; a profitable venture for the industry-leading site (Yahoo Finance in November recorded 63 million monthly unique visitors, per comScore). This livestream was Yahoo Finance's longest, most complex endeavor to date, given it hosted the event on its platform. [...]

It all started with an email from Berkshire Hathaway CEO Warren Buffett. "It said, 'Call me,'" recalled Yahoo Finance editor Andy Serwer. "So, I called him up. And he said 'I've got this idea. What do you think about livestreaming my annual meeting?' And I said 'yes' as quickly as I could!" [...]

The first-of-its-kind meeting was Buffett's idea. "I asked him later why he came to us," said Serwer. "He said there were several reasons: you successfully executed an NFL game. (The Buffalo Bills-Jacksonville Jaguars matchup in October 2015 netted 15.2 million viewers.) You have the technology to do it. You have the global platform. And, then he also said, 'I have this relationship with you and I know that I can just call you up anytime and get through to you.'"

Berkshire Hathaway to bet on earthquake insurance in Japan

An insurance company under Berkshire Hathaway of the U.S. is considering making a foray into Japan, betting on the potential of the country's earthquake insurance market.

Berkshire Hathaway Specialty Insurance plans to operate as a reinsurer, purchasing earthquake insurance contracts from casualty insurers in Japan, according to Marc Breuil, a BHSI executive in charge of Asia. [...]

After BHSI starts selling earthquake reinsurance in Japan, earthquake policies may become widespread in the country. Currently, about 10% of Japanese companies are insured against temblors. This is stunted compared to the rate in other earthquake-prone countries.

One major reason for the low percentage is the relatively high premiums for earthquake insurance when compared to fire insurance. Another reason is that insurers have refrained from actively selling earthquake policies to companies, citing unstable prices in the reinsurance market.

Buffett's Berkshire Is Urged to Sell Fossil Fuel Stocks

A Nebraska nonprofit has said it will propose that Warren Buffett's Berkshire Hathaway Inc. sell its investments in oil refiner Phillips 66 and other companies involved in fossil fuels over 12 years.

The Nebraska Peace Foundation, which focuses on anti-war, civil rights and environmental issues, said it submitted a formal proposal for Berkshire shareholders to consider at the Omaha-based conglomerate's annual meeting next May 6.

Buffett’s Son Steps Down From Coke Board to Focus on Charity

Howard Buffett, the son of Berkshire Hathaway Inc. Chairman Warren Buffett, is stepping down from the board of Coca-Cola Co. to spend more time working at his foundation. [...] He runs the Howard G. Buffett Foundation, which supports sustainable agriculture and conflict resolution programs. He also has operated a 1,500-acre (600-hectare) farm in Illinois and has written books on topics such as world hunger and conservation.

Warren Buffett makes appearance at Dolphins-Cardinals game

The Miami Dolphins have a special guest for Sunday’s game against the Arizona Cardinals. Business tycoon Warren Buffett roamed the Dolphins’ sideline pregame to talk to members of the organization and show his support.

Buffett, who is one of the richest people in the world, has attended Dolphins games in the past. He was at last year’s home opener and is friends with four-time Pro Bowl defensive tackle Ndamukong Suh. [...]

Berkshire News Briefs - 9/28/15

Charlie Munger: Buffett’s ‘Abominable No-Man’ (Think Advisor)

Sharp as a tack and blunt as Lenny Bruce, Charlie Munger, Warren Buffett’s peppery longtime business partner, is the not-so-secret sauce in the Oracle of Omaha’s extraordinary investing success.

Munger, the curmudgeonly 91-year-old vice chairman of Buffett's holding company, Berkshire Hathaway, is a humorous, deep-thinking billionaire whose judgment has been indispensable to growing Berkshire into a $360 billion-plus enterprise. Indeed, last year it picked up $18.3 billion in net worth.

Now comes “Charlie Munger: The Complete Investor” (Columbia University Press-Columbia Business School Publishing), by Tren Griffin, a book that neatly ties together the astute nonagenarian’s investing acumen in just under 200 pages. [...]

Kraft Heinz, Phillips 66 Targeted by Fake Securities Filings (WSJ)

Two separate filings that said they were submitted by Loreto M. Zamora on behalf of LMZ & Berkshire Hathaway Co. to the Securities and Exchange Commission on Thursday morning claimed to hold at least 10% stakes in both Kraft Heinz and Phillips 66.

Both companies told The Wall Street Journal that the filings are fraudulent and they have contacted the SEC. Warren Buffett, whose Berkshire Hathaway Inc. owns stakes in the food and energy companies, said in an email that he has never heard of Mr. Zamora. [...]

Could Warren Buffett's Utility Empire Be in Trouble? (Fool)

No matter where you look, particularly in Nevada, utilities are under serious pressure from customers looking to find lower-cost and cleaner energy elsewhere. Now that Buffett is one of the largest utility owners in the country, he's directly at odds with some of these trends.

Wynn Resorts is offering $15 million to break ties with NV Energy, and if it weren't for a limit on distributed solar in Nevada, there would be thousands of customers putting up their own generation systems.

The dual threat shows the challenge utilities are facing as the energy industry evolves. [...]

Borsheims CEO Goracke plans visit to share a wealth of retail knowledge with UNK students (Kearney Hub)

When Karen Goracke was approached to be University of Nebraska at Kearney’s Executive in Residence this fall she was at first surprised, then ecstatic. [...]

Giving back, by sharing her knowledge and ideas with students, is something the Borsheims CEO has been waiting to do. The College of Business and Technology Executive in Residence will give her that chance: To talk to students, visit with faculty and play a mentor role to anyone who wants to learn more about retail, Berkshire Hathaway, working for Warren Buffett, merchandising, accounting, sales – her list of what she wants to talk about is long. [...]

Perpetrators of a $10-Million Telemarketing Scam that Used Warren Buffett and Berkshire Hathaway's Names as Baits (Realty Today)

According to the indictment, Jonathan Papa and Methsiri "Lal" Palliyaguru sold phony investments in certificates of deposit and real estate to nearly 200 investors, primarily American senior citizens. They knowingly misrepresented that Warren Buffett and Berkshire Hathaway were involved with the purported real estate investments, in order to lure in unsuspecting investors who idolize Buffett and Hathaway.

Ndamukong Suh and Warren Buffett huddle up (Lincoln Journal Star)

[...] “Every time, we have a great conversation,” Suh said. “And they’re really conversations around the concepts of business or understanding commodities, how it can all work together. It’s not (Buffett saying), ‘You should go pick this stock.’

“He knows my goals, and he’s like, ‘You should think about this’ or ‘This is some advice from people I’ve worked with.’ It’s also him with open arms saying, if you want to learn about something else, if you want to learn about the aviation business — which is something I’m very into — he said, ‘I own NetJets’ and opened the door for me to go out and learn from those people.” [...]

Billionaire Warren Buffett is ready to sub in for Ndamukong Suh (CBS Sports)

When you're worth $70 billion you can do whatever you want and sometimes doing whatever you want includes showing up at a Dolphins game wearing shoulder pads and an Ndamukong Suh jersey.

That's exactly what billionaire Warren Buffett did on Sunday. The third-richest man in the world showed up on the Dolphins sideline before their game against Buffalo and Buffet definitely wasn't wearing his normal suit-and-tie combo. [...]