Berkshire Hathaway Business News

News and releases from metro area businesses

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skinzfan23
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Re: Berkshire Hathaway Business News

Post by skinzfan23 »

Sounds like they are expecting between 42,000 and 44,000, which would make it the most attended in the company's history. Also for the first time the exhibition hall is going to open from 12 - 5 pm on Friday May 1st.
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Re: Berkshire Hathaway Business News

Post by Brad »

skinzfan23 wrote:Sounds like they are expecting between 42,000 and 44,000, which would make it the most attended in the company's history. Also for the first time the exhibition hall is going to open from 12 - 5 pm on Friday May 1st.
I think they are making a big deal out of the 50th Anniversary.

I got my shareholder passes the other day. We won't be going to the annual meeting, but we will definitely check out the conventions side of things.
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Re: Berkshire Hathaway Business News

Post by bigredmed »

We like to play a game with Berkshire. We call it "How Fast is it Free?"

The game goes like this:

For a given meeting, you can buy anything you actually need for the year. In the process, add up the discounts.
Compare the discount total to a cost of a share of your BrkB or more by agreement with all players.

First person to >100% free share of stock wins and gets to pick destination for dinner that night.

You are only allowed to count things you actually need (like you could buy $500 worth of See's candy, but only count it if you actually use that candy (say for business gifts).
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Re: Berkshire Hathaway Business News

Post by iamjacobm »

Meeting going to be available over the internet this year. Could have a big impact on the local economy.
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Re: Berkshire Hathaway Business News

Post by Brad »

iamjacobm wrote:Meeting going to be available over the internet this year. Could have a big impact on the local economy.
I hope that is a big enough "Event" we still get the big crowds.
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Re: Berkshire Hathaway Business News

Post by NEDodger »

I'm not too worried. Even though it'll be broadcast online, this is like "Comic Con" to these folks - they want to be there in person
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Re: Berkshire Hathaway Business News

Post by PotatoeEatsFish »

Was it last year when Buffet threatened to move the conference due to hotels upping their prices? That still bugs me, no matter where you go hotels are going to do that. So much hometown pride.
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Re: Berkshire Hathaway Business News

Post by Louie »

PotatoeEatsFish wrote:Was it last year when Buffet threatened to move the conference due to hotels upping their prices? That still bugs me, no matter where you go hotels are going to do that. So much hometown pride.
I don't recall this. Anyone got a source/story here?
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Re: Berkshire Hathaway Business News

Post by iamjacobm »

Its true, we talked about it on here somewhere. Said he was considering moving it to Dallas, he was one of the big proponents of people trying out Airbnb.

http://www.economist.com/news/finance-a ... s-buffetts
The shareholders’ meetings in Omaha, a Midwestern American city, of Berkshire Hathaway, a financial conglomerate, provide a good illustration. In 1980 12 people showed up to the first one, including the firm’s boss, Warren Buffett. These days, the gathering draws some 40,000, the equivalent of nearly 10% of the city’s population. Omaha’s few hotels have built their business models around this surge, jacking up prices to as much as $400 a night and imposing three-day minimum stays around the one-day event. This has outraged the frugal Mr Buffett, who has threatened to move the conference to Dallas.

Happily, home-sharers have begun to offer some competition. In the three weeks before the 2015 meeting, 1,750 Omaha residents added new properties to Airbnb—the equivalent of three Omaha Hiltons, the city’s biggest hotel. That brought the number of Airbnb listings in the city to 5,000, of which 76% were occupied on May 1st at an average price of $209. Moreover, Airbnb hosts only charged 60% more during the meeting than in days before and after. The surge at hotels was 200% or more.
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Re: Berkshire Hathaway Business News

Post by Mr.Nuke »

PotatoeEatsFish wrote:Was it last year when Buffet threatened to move the conference due to hotels upping their prices? That still bugs me, no matter where you go hotels are going to do that. So much hometown pride.
It is posturing at best. As long as he is alive and it remains an "event" it won't move from Omaha. Borsheims and NFM literally do tens of millions in sales that week.
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Re: Berkshire Hathaway Business News

Post by bigredmed »

Mr.Nuke wrote:
PotatoeEatsFish wrote:Was it last year when Buffet threatened to move the conference due to hotels upping their prices? That still bugs me, no matter where you go hotels are going to do that. So much hometown pride.
It is posturing at best. As long as he is alive and it remains an "event" it won't move from Omaha. Borsheims and NFM literally do tens of millions in sales that week.
I have been told that Borsheims does 25% of their annual sales on that weekend.
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Re: Berkshire Hathaway Business News

Post by nebugeater »

Looks like Berkshire Hathaway is going to be selling Gas.


https://www.reuters.com/article/us-pilo ... SKCN1C81C0
(Reuters) - Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) bought a major stake in Pilot Flying J, the largest U.S. truck stop operator, and said it will become the majority owner in six years, deepening its commitment to the American economy.
Pilot Flying J has more than 750 locations in 44 U.S. states and Canada selling gas, diesel fuel, and convenience goods, and offering trucks more than 70,000 parking spaces and 5,000 diesel lanes.
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Re: Berkshire Hathaway Business News

Post by Brad »

Several OWH Stories about Berkshire Hathaway:

Berkshire Hathaway adds 2 top executives as vice chairmen, fueling speculation about Warren Buffett's successor

http://www.omaha.com/money/berkshire-ha ... 03ac8.html

5 things to know about Warren Buffett's naming of potential successors

http://www.omaha.com/money/things-to-kn ... 14aca.html

Considered a genius with a sense of humor, new Berkshire Vice Chairman Ajit Jain has added $100B to company value since 1985

http://www.omaha.com/money/buffett/cons ... 8fa6e.html

New Berkshire Vice Chairman Gregory Abel called 'truly innovative' with 'great ideas'
http://www.omaha.com/money/buffett/new- ... a8601.html

How do investors feel about likely Buffett successors? Rise in Berkshire stock seems to indicate a thumbs up
http://www.omaha.com/money/how-do-inves ... 7b099.html
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Re: Berkshire Hathaway Business News

Post by MadMartin8 »

Brad wrote:Several OWH Stories about Berkshire Hathaway:

Berkshire Hathaway adds 2 top executives as vice chairmen, fueling speculation about Warren Buffett's successor

http://www.omaha.com/money/berkshire-ha ... 03ac8.html

5 things to know about Warren Buffett's naming of potential successors

http://www.omaha.com/money/things-to-kn ... 14aca.html

Considered a genius with a sense of humor, new Berkshire Vice Chairman Ajit Jain has added $100B to company value since 1985

http://www.omaha.com/money/buffett/cons ... 8fa6e.html

New Berkshire Vice Chairman Gregory Abel called 'truly innovative' with 'great ideas'
http://www.omaha.com/money/buffett/new- ... a8601.html

How do investors feel about likely Buffett successors? Rise in Berkshire stock seems to indicate a thumbs up
http://www.omaha.com/money/how-do-inves ... 7b099.html
Wonder how long after Warren steps down/passes/leaves that Berkshire Hathaway's HQ leaves Omaha.

Edit: looks like the OWH reads this forum and answered my question :P
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Re: Berkshire Hathaway Business News

Post by Louie »

How many people are employed locally by Berkshire? Its only a few dozen, right? Although the taxes paid by them are big.
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Re: Berkshire Hathaway Business News

Post by Uffda »

Warren just missed out on buying another business.

Warren Buffett made rival bid for Tech Data, report says

CNBC reports that billionaire Warren Buffett’s Berkshire Hathaway made a play for the Largo-based technology distribution company, but was outbid by Apollo Global Management.


https://www.tampabay.com/news/business/ ... port-says/
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Re: Berkshire Hathaway Business News

Post by Brad »

The mayor just said that Buffett will wait until a month out from the Annual Berkshire weekend before he decides if he should cancel the annual meeting.
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Re: Berkshire Hathaway Business News

Post by Omahacritic »

I’m more interested in the easy pickings Warren is finding. He owns a lot of a Delta Airlines. Is he using that pile of cash he has to buy more?

Is he going to make a move to get a substantial position in something new? There are so many good prices, business with retained earnings.
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Re: Berkshire Hathaway Business News

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Omahacritic wrote: Thu Mar 12, 2020 10:38 pm I’m more interested in the easy pickings Warren is finding. He owns a lot of a Delta Airlines. Is he using that pile of cash he has to buy more?

Is he going to make a move to get a substantial position in something new? There are so many good prices, business with retained earnings.
I say you better believe he is! He knew another stock market crash was due.
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Re: Berkshire Hathaway Business News

Post by Uffda »

Canceled in person meeting will be streamed

https://www.berkshirehathaway.com/news/mar1320.pdf
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Re: Berkshire Hathaway Business News

Post by Louie »

That's pretty much every major tourist event in the city for the year. Crazy times.
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Re: Berkshire Hathaway Business News

Post by Big E »

Omahacritic wrote: Thu Mar 12, 2020 10:38 pm I’m more interested in the easy pickings Warren is finding. He owns a lot of a Delta Airlines. Is he using that pile of cash he has to buy more?

Is he going to make a move to get a substantial position in something new? There are so many good prices, business with retained earnings.
Since Nov, the big four of US airlines - Delta, United, Southwest, and American - have lost a combined 27.5% market cap, to the tune of rohgly $22B. United is down around 60% on its own, to less than $9B in market cap.

Put another way, Apple could probably buy the entire US commercial airline industry with cash and still have well over $100B in cash left over.
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Re: Berkshire Hathaway Business News

Post by ita »

Greg Abel tapped as Buffett's successor at Berkshire Hathaway
Henry Cordes
For those who closely follow Berkshire Hathaway, Saturday’s shareholders meeting held a clue as to who may one day succeed Warren Buffett as chief executive.

“Greg will keep the culture,” vice chairman Charlie Munger said at one point during the Q&A session, a reference to Berkshire executive Greg Abel.

And now Buffett has confirmed it. Whenever the 90-year-old does step down as CEO, he will be succeeded by Abel.
Mr. Abel currently lives in Des Moines, where Berkshire Energy HQ is located, but Berkshire will more than likely stay in Omaha if or when he takes Mr. Buffett's place.
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Re: Berkshire Hathaway Business News

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ita wrote: Mon May 03, 2021 1:04 pm Greg Abel tapped as Buffett's successor at Berkshire Hathaway
Henry Cordes
For those who closely follow Berkshire Hathaway, Saturday’s shareholders meeting held a clue as to who may one day succeed Warren Buffett as chief executive.

“Greg will keep the culture,” vice chairman Charlie Munger said at one point during the Q&A session, a reference to Berkshire executive Greg Abel.

And now Buffett has confirmed it. Whenever the 90-year-old does step down as CEO, he will be succeeded by Abel.
Mr. Abel currently lives in Des Moines, where Berkshire Energy HQ is located, but Berkshire will more than likely stay in Omaha if or when he takes Mr. Buffett's place.
Till Mrs Abel stomps her feet about not leaving Des Moines.
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Re: Berkshire Hathaway Business News

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bigredmed1 wrote: Tue May 04, 2021 2:39 pm
ita wrote: Mon May 03, 2021 1:04 pm Greg Abel tapped as Buffett's successor at Berkshire Hathaway
Henry Cordes
For those who closely follow Berkshire Hathaway, Saturday’s shareholders meeting held a clue as to who may one day succeed Warren Buffett as chief executive.

“Greg will keep the culture,” vice chairman Charlie Munger said at one point during the Q&A session, a reference to Berkshire executive Greg Abel.

And now Buffett has confirmed it. Whenever the 90-year-old does step down as CEO, he will be succeeded by Abel.
Mr. Abel currently lives in Des Moines, where Berkshire Energy HQ is located, but Berkshire will more than likely stay in Omaha if or when he takes Mr. Buffett's place.
Till Mrs Abel stomps her feet about not leaving Des Moines.
I could see this happening. It wouldn't be difficult to move their HQ since there are so few employees at Corporate in Omaha. Let's face it, the success of BH over the years is largely due to the singular talents of its founder. Buffett IS BH. When he's gone, the future is up to the chief executive----hoping for the best outcome for Omaha, but I have my doubts. A friend of mine works for a Fortune 500 company that moved its HQ from the West coast to the East coast, and he's convinced that it was done simply to accommodate the chief executive's desire to move a few miles from his aging parents. It up-ended the lives of hundreds of employees who had to move (during a recession) thousands of miles if they wanted to keep their jobs. Many were unable to sell their homes.
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Re: Berkshire Hathaway Business News

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bigredmed1 wrote: Tue May 04, 2021 2:39 pm
ita wrote: Mon May 03, 2021 1:04 pm
Mr. Abel currently lives in Des Moines, where Berkshire Energy HQ is located, but Berkshire will more than likely stay in Omaha if or when he takes Mr. Buffett's place.
Till Mrs Abel stomps her feet about not leaving Des Moines.
Bingeaux.
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Re: Berkshire Hathaway Business News

Post by ita »

I don't know if this is the best place to discuss this, but with the recent news about Bill and Melinda Gates's announcement of divorce and other news related to the relationship, what happens to Warren Buffett's commitment to bequeath a huge part of his wealth to [italics]their[/italics] foundation? Not that anyone knows, but it will be an interesting development to see how this affects his commitment to that foundation and others.
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Re: Berkshire Hathaway Business News

Post by bigredmed1 »

One would think that he has a moral failure out. Between his daughter and her siblings, they could easily absorb the funds into their own non profits. Melinda Gates has probably got this going to burn Bill Gates now before all that BRK-a goes to Bill’s half of the charity.
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Re: Berkshire Hathaway Business News

Post by ita »

bigredmed1 wrote: Mon May 17, 2021 10:27 am One would think that he has a moral failure out. Between his daughter and her siblings, they could easily absorb the funds into their own non profits. Melinda Gates has probably got this going to burn Bill Gates now before all that BRK-a goes to Bill’s half of the charity.
I was thinking the same about Buffett's children's charities. The reported infidelity will make the dissolution of marriage complicated and maybe the BRK-a baby doesn't get halved so cleanly.
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Re: Berkshire Hathaway Business News

Post by GrandpaaSmucker »

ita wrote: Mon May 17, 2021 11:37 am
bigredmed1 wrote: Mon May 17, 2021 10:27 am One would think that he has a moral failure out. Between his daughter and her siblings, they could easily absorb the funds into their own non profits. Melinda Gates has probably got this going to burn Bill Gates now before all that BRK-a goes to Bill’s half of the charity.
I was thinking the same about Buffett's children's charities. The reported infidelity will make the dissolution of marriage complicated and maybe the BRK-a baby doesn't get halved so cleanly.

I can almost guarantee you the matter is a non-factor to Buffet. I have followed him for decades and he is just not wired that way. Buffet was no saint in his younger years and was well known to have had affairs on his first wife. Buffet is no fool and I'm sure he was well aware that Gates had affairs on the side.
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Re: Berkshire Hathaway Business News

Post by bigredmed1 »

GrandpaaSmucker wrote: Mon May 17, 2021 5:59 pm
ita wrote: Mon May 17, 2021 11:37 am
bigredmed1 wrote: Mon May 17, 2021 10:27 am One would think that he has a moral failure out. Between his daughter and her siblings, they could easily absorb the funds into their own non profits. Melinda Gates has probably got this going to burn Bill Gates now before all that BRK-a goes to Bill’s half of the charity.
I was thinking the same about Buffett's children's charities. The reported infidelity will make the dissolution of marriage complicated and maybe the BRK-a baby doesn't get halved so cleanly.

I can almost guarantee you the matter is a non-factor to Buffet. I have followed him for decades and he is just not wired that way. Buffet was no saint in his younger years and was well known to have had affairs on his first wife. Buffet is no fool and I'm sure he was well aware that Gates had affairs on the side.
But if Gate’s reputation is so damaged that no one wants to do business with him, the charity will have to spend more to buy legitimacy and that gets to overhead and offends his sense of corporate efficiency. He did have affairs and that is why his wife lived in SF and he had a mistress in his house. But, the deal was struck privately. She went to SF with a metric |expletive| ton of stock and money and he stayed in the mobster’s house here in Omaha. For a long time, their relationship was very private. Something went different with the Gates. No private here. It’s going to bite into the effectiveness of the charity.
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Re: Berkshire Hathaway Business News

Post by nebugeater »

Looks like Warren Buffett is doing one more auction for a dinner with him to raise money for the San Francisco homeless. Other than a couple of misses for COVID this is a 22-year tradition but this one will be the last.

https://www.msn.com/en-us/money/compani ... ocid=ientp
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Re: Berkshire Hathaway Business News

Post by Coyote »

Berkshire Hathaway Annual Meeting
Saturday, April 30, 2022

CHI Health Center Omaha - Omaha's Convention Center and Arena


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Re: Berkshire Hathaway Business News

Post by djc311 »

I used to sell at NFM and always got a kick out of the "Berkies" that rolled into town for the meeting. They'd come in all geared-up with their badges around their necks like they owned the place. Of course this was not with all of them... typically the out of towners that thought they were above everyone else.

One time I had to tell a guy we were out of stock of something he wanted to buy while he was in for the shareholder sale - he goes, "Do you know who I am?" He was an attorney "friend" of the partial owners of the Mart. No one anyone knew by name (like a Bill Gates, etc). Many of them definitely were on a power trip during that weekend. Regardless of how much the event brought in for total sales volume, it was one of my least favorite times of the year for selling.
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Re: Berkshire Hathaway Business News

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djc311 wrote: Wed Apr 27, 2022 10:50 am I used to sell at NFM and always got a kick out of the "Berkies" that rolled into town for the meeting. They'd come in all geared-up with their badges around their necks like they owned the place. Of course this was not with all of them... typically the out of towners that thought they were above everyone else.

One time I had to tell a guy we were out of stock of something he wanted to buy while he was in for the shareholder sale - he goes, "Do you know who I am?" He was an attorney "friend" of the partial owners of the Mart. No one anyone knew by name (like a Bill Gates, etc). Many of them definitely were on a power trip during that weekend. Regardless of how much the event brought in for total sales volume, it was one of my least favorite times of the year for selling.
Thats funny, I finally got a few shares of Berkshire and am in the market for a new tv. I mailed my request for credentials in just last week so I don't have them yet and the first salesperson offered the Berkshire discount and a manager confirmed that I would be good to get it. A little while later, I was still looking at the tvs and another salesperson came over, she wouldn't give me any info about the Berkshire prices. I thought it was funny, I wasn't asking to honor the price until I have my credentials, but rather just couldn't remember the exact amount the first guy told me.

Either way, I am surprised to hear I will get an almost $300 discount on an 85" tv.

Quick question though, is it best to avoid NFM this weekend then and go after the weekend (the sale prices are good through next Tuesday)?
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Re: Berkshire Hathaway Business News

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skinzfan23 wrote: Wed Apr 27, 2022 11:09 am
djc311 wrote: Wed Apr 27, 2022 10:50 am I used to sell at NFM and always got a kick out of the "Berkies" that rolled into town for the meeting. They'd come in all geared-up with their badges around their necks like they owned the place. Of course this was not with all of them... typically the out of towners that thought they were above everyone else.

One time I had to tell a guy we were out of stock of something he wanted to buy while he was in for the shareholder sale - he goes, "Do you know who I am?" He was an attorney "friend" of the partial owners of the Mart. No one anyone knew by name (like a Bill Gates, etc). Many of them definitely were on a power trip during that weekend. Regardless of how much the event brought in for total sales volume, it was one of my least favorite times of the year for selling.
Thats funny, I finally got a few shares of Berkshire and am in the market for a new tv. I mailed my request for credentials in just last week so I don't have them yet and the first salesperson offered the Berkshire discount and a manager confirmed that I would be good to get it. A little while later, I was still looking at the tvs and another salesperson came over, she wouldn't give me any info about the Berkshire prices. I thought it was funny, I wasn't asking to honor the price until I have my credentials, but rather just couldn't remember the exact amount the first guy told me.

Either way, I am surprised to hear I will get an almost $300 discount on an 85" tv.

Quick question though, is it best to avoid NFM this weekend then and go after the weekend (the sale prices are good through next Tuesday)?

I did get (1) share of the "B" stock... just in case it would ever be helpful, too!

As far as the Mart - IMO, it's chaos for most of the weekend unless you hit the store right after open on Sunday maybe... Saturday is busy but definitely gets even busier after the shareholder meeting. A lot of ppl don't bother going to it, especially shareholders that live here, so they'll shop the stores during the day.

The one benefit of fighting the crowd for you could be product availability. Assuming the TV isn't discontinued, etc. then they'll get more, but if you're saving $300 a lot of shareholders may buy it. If they run out then you may have to wait for more inventory.

Last year I bought an LG 86" during the same time - I ended up ordering it over the phone and having it delivered so I didn't need to deal with the traffic, LOL.
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Re: Berkshire Hathaway Business News

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djc311 wrote: Wed Apr 27, 2022 11:50 am
I did get (1) share of the "B" stock... just in case it would ever be helpful, too!
I bought 2 shares back in 2010 when they split it 11:1 so they could buy the BNSF. Not only has the price nearly tripled since then, I have more than made up for the price in discounts at NFM and Borshimes. If I remember correctly, I got quite the discount on an engagement ring at Borshimes and then something off on the wedding bands too. Seems like when I first got the stock, NFM would give you some sort of discount year round, but not anymore. Same with the friends and family discount, that's gone now too.
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Re: Berkshire Hathaway Business News

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Brad wrote: Wed Apr 27, 2022 12:37 pm
djc311 wrote: Wed Apr 27, 2022 11:50 am
I did get (1) share of the "B" stock... just in case it would ever be helpful, too!
I bought 2 shares back in 2010 when they split it 11:1 so they could buy the BNSF. Not only has the price nearly tripled since then, I have more than made up for the price in discounts at NFM and Borshimes. If I remember correctly, I got quite the discount on an engagement ring at Borshimes and then something off on the wedding bands too. Seems like when I first got the stock, NFM would give you some sort of discount year round, but not anymore. Same with the friends and family discount, that's gone now too.
Yep - the Mart is no longer the Mart, IMO. Well, they even say so... it's "NFM".

When I first started there back in the mid 90's, the Huskers were playing for national titles and the Blumkins brought in pizza and beer and even closed the store early so staff could watch the championship in the big screen room.

Now they're too busy opening stores outside of the midwest to care - unless they tear down and start new, the Omaha store will always be the dump of their properties. They don't even shoot commercials in Omaha anymore unless it's at the Mrs B's clearance store... everything else is shot in the nice stores.

In any case, you're right, discounts are hard to come by so hopefully the BERK benefit stays around for a long time (assuming Buffett doesn't sell off his stake). Of course when he's no longer in charge it's hard to say what could happen.
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Re: Berkshire Hathaway Business News

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Hotels, restaurants cash in ahead of Berkshire Hathaway Shareholders Meeting weekend



Hotels, restaurants cash in ahead of Berkshire Hathaway Shareholders Meeting weekend
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Re: Berkshire Hathaway Business News

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Preparing for Berkshire Hathaway Shareholders Meeting weekend



Preparing for Berkshire Hathaway Shareholders Meeting weekend
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