Berkshire Hathaway (BRK)

Re: Berkshire Hathaway (BRK)

Postby millionairemind » Wed Mar 24, 2010 2:38 pm

Published March 24, 2010

Berkshire unit buys liquor distributor

(OMAHA, Nebraska) A subsidiary of Warren Buffett's company said on Monday that it is buying a liquor distributor that serves Georgia and North Carolina.

Terms of McLane Co's acquisition of Kahn Ventures Inc and Empire Distributors were not disclosed in the statement announcing the deal.

Mr Buffett, who is chairman and CEO of McLane's Omaha-based parent company Berkshire Hathaway Inc, said that he is excited about the Empire deal because of the opportunities that Berkshire, McLane and Empire envision in the beverage industry. 'We expect that the Empire acquisition will provide us with a solid platform for potentially acquiring other similar high-quality wholesale distributors,' he said in a statement.

Neither Mr Buffett nor a McLane spokesman responded immediately to messages left on Monday.

In keeping with Berkshire's practice, no changes are planned at Empire. The news release said that the Atlanta-based distributor will continue operating just as it has for 70 years.

Empire has eight facilities equipped with high-tech equipment, including bottle scanning and GPS routing, to help them operate efficiently. Berkshire said that with the acquisition, Empire will gain access to more resources and operational best practices.

McLane is one of Berkshire's roughly 80 subsidiaries. It is based in Temple, Texas, and distributes groceries, tobacco and other items to convenience stores, drug stores, wholesale clubs and other retailers. Berkshire bought McLane from Wal-Mart in 2003.

Berkshire owns clothing, furniture, jewellery and corporate jet firms, but its insurance and utility businesses accounted for more than one-third of the company's revenue last year. It also has major investments in such companies as Coca-Cola Co and Wells Fargo & Co. -- AP
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Re: Berkshire Hathaway (BRK)

Postby LenaHuat » Fri Apr 30, 2010 9:42 pm

A short while ago, I watched Becky Quick interviewed Sokol, CEO of Berkshire's Netjets. He said that he was cautious abt the economy and that for the next 18 months, the recovery will be a grind.
He also gave a pretty good idea what Buffett will say abt derivatives at tomorrow's AGM.
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Re: Berkshire Hathaway (BRK)

Postby kennynah » Fri Apr 30, 2010 9:44 pm

ohhh....becky....nice....i usually dont get the contents of the interview she conducts... 8-)
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Re: Berkshire Hathaway (BRK)

Postby kennynah » Sat May 01, 2010 11:52 pm

Berkshire Swings to Profit; Buffett Says Economy Rebounding
By Andrew Frye


May 1 (Bloomberg) -- Berkshire Hathaway Inc. swung to a profit in the first quarter as rising markets increased the value of investments, and a recovering economy boosted results at industrial operations.

Net earnings were about $3.63 billion, according to a slide posted by Chairman Warren Buffett today at Berkshire’s annual meeting of shareholders in Omaha, Nebraska. The net loss was about $1.5 billion in the first three months 2009, according to a statement from Berkshire last year.

The economy “picked up steam in March and April,” Buffett said. That followed “sort of a sputtering recovery a few months ago,” he said.

Berkshire bought railroad Burlington Northern Santa Fe Corp. for about $27 billion in February in Buffett’s biggest acquisition, a deal he called an “all-in wager” on the U.S. economy. The purchase will reduce Berkshire’s reliance on insurance operations and the housing-related businesses that faltered in the recession.

In businesses that serve broad industries, like railroads, “we are seeing an uptick,” Buffett said.

Berkshire results in the first quarter included a gain of about $1.4 billion on derivatives and investments compared with a loss of about $3.2 billion on the holdings in the year earlier.
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Re: Berkshire Hathaway (BRK)

Postby Musicwhiz » Sun May 02, 2010 12:02 am

BRK is a good proxy for the US economy. It invests in so many brick and mortar businesses!
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Re: Berkshire Hathaway (BRK)

Postby winston » Tue May 04, 2010 9:44 pm

Cale’s Favorite Quotes from the Berkshire Meeting

One could sit for hours and hours consuming every random bit of reporting out of this year's Buffettpalooza, or....just read the top 12 quotes from the meeting, as curated by Cale in the Keys.

I chose option B...

From CaleInTheKeys.com:

1. “I would make Paul Volcker look like a sissy.” Charlie on financial reform.

2. “If you give people unlimited credit, they will go plumb crazy. And they did.” Charlie on reform again.

3. “It would be both unfair and stupid. I don’t think the government would be that crazy.” Charlie on reform that would require posting collateral on existing derivative contracts.

4. “I don’t know how this movie ends. And generally I don’t go to movies like that.” Warren on the debt crisis in Greece and whether he is looking for opportunities in Europe.

5. “There are plenty of CEOs I’d like to see gone in America, but Lloyd Blankfein is not one of them.” Charlie on the head of Goldman Sachs.

6. “I knew enough to lend them money but not enough to buy the equity.” Warren on buying debt, not shares, in Harley Davidson during the financial crisis.

7. “We celebrate wealth only when it is fairly won.” Charlie on excessive compensation.

8. “We are deliberately seeking big losses in a single year. We want to be so rich that the loss is just a blip long-term.” Charlie on Berkshire’s reinsurance business.

9. “Trend is not destiny.” Warren.

10. “The politicians are not behaving better as the newspapers are getting weaker.” Charlie on one of the side effects of a declining newspaper industry.

11. “I developed more courage once I learned I could handle hardship. Maybe you should get your feet wet in failure.” Charlie to an investor nervous about the economic outlook.

12. “That is a stunningly stupid idea.” Charlie on the economics of ethanol.

http://www.thereformedbroker.com/2010/0 ... e-meeting/
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Re: Berkshire Hathaway (BRK)

Postby kennynah » Wed May 05, 2010 1:33 pm

5. “There are plenty of CEOs I’d like to see gone in America, but Lloyd Blankfein is not one of them.” Charlie on the head of Goldman Sachs.


.....becos we have usd5billion riding on GS.... :mrgreen:
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Re: Berkshire Hathaway (BRK)

Postby winston » Thu Dec 09, 2010 9:32 pm

A MUST-SEE CHART FOR INFLATION WORRIERS

For folks worried about inflation, today's chart is a "must-see."

It shows the past two years of trading in Berkshire Hathaway… the investment vehicle of the world's best investor, Warren Buffett.

Berkshire is a giant conglomerate consisting of whole or partial stakes in basic, world-class businesses… things like sugar water (Coke), insurance (GEICO), and railroads (Burlington Northern). It also owns stakes in bricks, candy, underwear, jewelry, furniture, and electricity generation.

In a world of rising inflation, cash-producing businesses handpicked by Warren Buffett are a great place to park your money. This is what Berkshire's stock represents to several elite investors we know.

The trend looks great here as well. Since the March 2009 panic low, Berkshire has been locked in a beautiful pattern of "higher highs and higher lows"… Shares advance 10%-20%, take a break, advance another 10%-20%, take another break… and so on.

If you're looking for an inflation-hedged stock loaded with productive assets and elite brand names, this is a trend worth riding.

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Re: Berkshire Hathaway (BRK)

Postby iam802 » Thu Mar 31, 2011 11:30 am

They have no problem with him buying in Jan...and after which asking Berkshire to buy the company (sale concluded in March) ???

This, I bet, if there's any actions from SEC..will only be a light tap on the wrist.

====

Berkshire’s Sokol Resigns After Investing in Takeover Target

http://www.bloomberg.com/news/2011-03-3 ... arget.html

David Sokol, once a candidate to succeed Warren Buffett as the head of Berkshire Hathaway Inc. (BRK/A), resigned after helping to negotiate the acquisition of a company whose shares he had purchased.

Sokol, 54, bought about 96,000 Lubrizol Corp. (LZ) shares before recommending the company as a takeover target, Buffett, Berkshire’s chairman and chief executive officer, said today in a statement. Buffett said he didn’t ask for the resignation and that Sokol’s stock purchases were legal.

...

1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: Berkshire Hathaway (BRK)

Postby winston » Thu Mar 31, 2011 8:07 pm

They got Sokol on CNBC and he's trying to defend his actions.

What a waste of precious air-time !
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