Monthly Archives: September 2018

Berkshire Hathaway HomeServices Verani Realty Adds Top New Hampshire Sales Group

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Berkshire Hathaway HomeServices Verani Realty has announced that the Chadd Dempsey Real Estate Experts team, one of New Hampshire’s most productive real estate sales groups, has joined its brokerage.

The team, formerly of Keller Williams Realty Metropolitan in Hooksett, includes Chadd Dempsey, wife Caren Dempsey, Mark Hammond and Anne Anctil. It generated more than $28 million in closed sales volume in 2017 and is a fixture in Bedford, Bow, Londonderry, Manchester, Hooksett, Goffstown, Merrimack and Auburn.

“We’re proud to welcome the Chadd Dempsey Real Estate Experts team to Verani Realty and the Berkshire Hathaway HomeServices network,” said Gino Blefari, president and CEO of Berkshire Hathaway HomeServices. “This team is professional, hard-working and flat-out good at what they do. We expect the group to grow its business to new heights representing Berkshire Hathaway HomeServices Verani Realty.”

Added Giovanni Verani, president of Verani Realty: “For many years we’ve appreciated the work Chadd Dempsey and his team do for clients – they’re tough to compete against. We’re glad they’re now a part of our brokerage and we’re ready to help them achieve even more success in the service of clients.”

Chadd Dempsey said Verani Realty’s family culture and marketing support were significant factors in his team’s move, as were the brokerage’s superior technology and long-standing reputation in the marketplace. “We’ve found a terrific new home at Verani Realty and the Berkshire Hathaway HomeServices brand is second to none in real estate,” he said. “With new tools, resources and support available to us through Verani Realty and the brand, we expect to win more business and reach new markets.”

The Chadd Dempsey Real Estate Experts team builds lasting relationships with clients through relentless service and expertise. In fact, a full 75% of its business is generated by referrals from existing clients. Trust and care help form the foundation of each client relationship. “We simply care about our clients and want the very best for them,” said Caren Dempsey. “Our motto sums it all up: ‘We are in the business of helping people. We just happen to sell houses.’”

Chadd Dempsey entered the real estate business in 2004 after a successful career in health club sales and as a certified personal trainer. His business accelerated quickly and later Caren, a registered nurse, made a career change to help out. Hammond brings more than 30 years of real estate sales experience to the Chadd Dempsey Real Estate Experts team, and Anctil provides important administrative support.

The group is active in the local community and supports the ROCA Kidz Club in Manchester, which provides a fun and safe environment for local kids where they can have hot meals, a place to play, and access to homework help and activities.

Chadd Dempsey said he and his team expect to exceed last year’s volume total as they step forward to a new era with Verani real estate. “We are excited, and our clients are excited, that we’re a part of Berkshire Hathaway HomeServices Verani Realty,” he explained. “Through our new relationship we’ll be able to serve clients better and enhance the customer experience overall.

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

GEICO Named a Top 5 Company for Women in IT

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GEICO has been recognized as one of the Top 5 Companies for Women Technologists by AnitaB.org, a global nonprofit agency that recognizes companies building workplaces where women can thrive.

Using a rigorous methodology that looks at representation, employee experience, programs and policies, AnitaB.org analyzed data from 80 companies. The five companies with the highest cumulative scores in their respective workforce size categories earned placement on the 2018 Top Companies for Women Technologists Top 5 lists. GEICO was recognized for companies with a technical workforce of between 1,000 and 10,000 employees.

Marie Motowylak, GEICO’s director of decision sciences and business transformation, said GEICO is both appreciative and motivated by the recognition.

“We are very proud of the efforts we have made to develop an inclusive environment with a keen focus on training, career-advancement and promotional opportunities for women into leadership roles,” she said. “More and more women are taking advantage of the many IT career opportunities at GEICO, and we will continue to create rewarding career paths for them.”

Even before this latest recognition, GEICO’s efforts to support women in IT had not gone unnoticed. Earlier this year, two of the company’s IT associates were recognized by the Washington, D.C.-based nonprofit Women in Technology, and last year, GEICO was the winner of AnitaB.org’s coveted Top Companies for Women Technologists award.

“IT at GEICO plays a central role in creating seamless, innovative and dynamic insurance experiences for our customers. The inclusiveness and the diversity of our team of technologists drives our innovation and makes us a stronger and better company,” said GEICO Executive Vice President and CIO Greg Kalinsky.

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

ReeceNichols Real Estate Opens New Branch Offices in Southern Missouri

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Kansas City’s top residential real estate brokerage, ReeceNichols Real Estate, continues to grow, opening two new branch offices in southern Missouri. The new offices, in Houston and Rogersville, Missouri, are officially open for business.

ReeceNichols Real Estate is a Berkshire Hathaway affiliate and a wholly-owned subsidiary of HomeServices of America, Inc.

“We are excited to continue expanding our reach in southern Missouri,” President and CEO Mike Frazier said. “We saw the opportunity for growth in these burgeoning markets, and we will be able to provide the consumers in the market with the best home buying and selling experience through our innovative suite of offerings.”

Located 19 miles southeast of Springfield, Rogersville has grown considerably in the last two decades. The office is located at the corner of W. Center Street and S. Mill Street. Meanwhile, the Houston office, located off US Highway 63, between the well-traveled US Highway 60 and Interstate 44, was formerly Bartlett Real Estate.

Shaun Duggins, president of ReeceNichols’ southern region, is the managing broker for the Houston office, and Rick Witeka, general manager of ReeceNichols’ southern region, is the managing broker for the Rogersville office.

“I am thrilled to service these markets under the ReeceNichols brand,” Duggins said. “I look forward to helping our agents grow their business and succeed in these untapped areas.”

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Berkadia Phoenix Team Arranges $78 Million in Financing for Six Hotel Properties

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The Phoenix office of Berkadia, Berkshire Hathaway’s joint venture with Leucadia National Corporation, has announced the $78 million financing for six hotel properties in a portfolio of eight total hotel properties.

Director Adrienne Kautzman of the Phoenix office secured the acquisition bridge loan through Ares Commercial Real Estate Corporation (NYSE:ACRE). The borrower was a partnership led by PEG Companies, and the deal closed on September 7.

“PEG’s investment thesis coupled with our deep lending relationships and knowledge of the hospitality space allowed us to facilitate flexible and competitive financing on these six hotels to provide various exit strategies for the PEG team,” said Kautzman.

The properties include Residence Inn by Marriott and Courtyard by Marriott hotels located in St. Petersburg, Florida; Sacramento, California; Santa Fe, New Mexico; Charlotte, North Carolina; Phoenix and St. Louis, for a total of 828 hotel rooms.

About Berkadia

Founded in 2009 as a 50/50 joint venture between Berkshire Hathaway and Leucadia National Corporation, Berkadia is a third-party commercial mortgage servicer, as well as an approved lender for Fannie Mae, Freddie Mac, and HUD/FHA.

The company is among the top Freddie Mac and Fannie Mae multifamily lenders.

Berkadia owes its origins to GMAC Commercial Mortgage Corporation, which was acquired in 2009 by Kohlberg Kravis Roberts & Co., Five Mile Capital Partners LLC, and Goldman Sachs Capital Partners. Christened Capmark Financial, the company had $10 billion of originations in 2008 and a servicing portfolio of more than $360 billion before running into bankruptcy in October 2009.

In a deal approved by the bankruptcy court, Capmark sold its mortgage loan and servicing to the newly formed Berkadia in a deal worth $515 million.

The deal brought Berkshire into the heart of the commercial loan serving business, and the company has one of the largest commercial real estate servicing portfolios.

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Berkshire Hathaway Specialty Insurance Expands Team in Dubai

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Berkshire Hathaway Specialty Insurance Company (BHSI) has expanded its leadership team in Dubai with the appointment of executives to fill key product line and service posts.

“Building a strong foundation of servicing capabilities and local knowledge and expertise is critical to BHSI’s long term plans in the Middle East,” said Marc Breuil, President, BHSI, Asia Middle East. “Since DIFC BHSI commenced operations in February, we have established a strong and dynamic team to bring DIFC BHSI’s unmatched financial strength and capital to the Middle East.”

“Our new teammates in Dubai embody the excellent capabilities and strong character that is so valued by BHSI and by our customers,” said Alessandro Cerase, Senior Executive Officer, BHSI Middle East. “They will lead our efforts to bring BHSI’s long-term focus, multi-line underwriting and service excellence to customers throughout the Middle East. We are pleased to welcome them aboard.”

The BHSI appointees include:

• Aisling Malone, Head of Executive & Professional Lines. Aisling was previously Head of Professional Liability Cyber MENA and Senior Underwriter at AIG MEA Limited. Aisling is joined by Joe Saab, Senior Underwriter.
• Emir Erdur, Head of Casualty. He was previously Casualty Leader and Regional Underwriter of Casualty for the MEA region at QBE Insurance (Europe) Limited. Emir is joined by Mohammed Hannoun, Senior Underwriting Manager.
• Carlos Beltran, Head of Commercial Property. Carlos was previously Regional Vice President, P&C Underwriting at Chubb Latin America.
• Meenakshi Srinath, Head of Marine. Prior to BHSI, Meenakshi was Head of Marine (Gulf and KSA) at AXA Insurance Gulf.
• Kapil Palathinkal is Head of Energy and Construction. Kapil was most recently the Energy & Engineered Risk Manager for the Arabian Hub at AIG. Kapil is joined by Anuradha Sekar, Senior Underwriter.
• Pruthviraj More, Senior Risk Engineer. Pruthviraj joins BHSI from Allianz Global Corporate Specialty where he was a Property Loss Control Engineer.
• John Lewis, Head of Claims. John was previously Head of Claims at Zurich Insurance DIFC Dubai.

Earlier this year BHSI announced the appointment of Alessandro Cerase as Senior Executive Officer (SEO) and Neeraj Yadvendu as deputy SEO and Head of Third Party Lines for the Middle East, both based on Dubai. Alessandro also leads First Party Lines for BHSI’s broader Asia Middle East region, which includes BHSI’s other regional hubs of Hong Kong and Singapore as well as BHSI operations in Malaysia and Macau.

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Berkshire Hathaway Specialty Insurance Opens New Office in Munich, Germany

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Berkshire Hathaway Specialty Insurance (BHSI) has opened a new office in Munich, Germany, marking the latest advance in BHSI’s steady, strategic expansion of its global footprint and capabilities for customers and brokers worldwide.

“Our new presence in southeastern Germany enhances our ability to bring our full line of specialty insurance products, our financial strength, and our focus on service excellence to the German and European marketplace,” said Chris Colahan, President, BHSI in Europe and the UK. “We are excited to be in Munich, continuing to build our global team of individuals with stellar capabilities and character.”

The new office in Munich, along with the BHSI office in Dusseldorf, will underwrite property, casualty, medical malpractice, marine and executive & professional lines for a broad range of business segments in Germany.

BHSI also announced that it intends to build substantial local underwriting and claims capabilities in the new office and has filled its first two posts in Munich with Lars Messutat, Senior Underwriter, Property, and Florian Biebrach, Senior Underwriter, Financial Lines, both of whom relocated from BHSI in Dusseldorf.

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

McLane Goes into the Pizza Biz

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McLane Company, Inc., Berkshire Hathaway’s supply chain services company that provides grocery and foodservice supply chain solutions, has announced the debut of a new brand: Fly Guys Pizza.

The brand launched at the McLane National Tradeshow through its private label subsidiary, Consumer Value Products (CVP), in coordination with McLane’s foodservice-at-retail program, McLane Kitchen.

Made with premium toppings on a self-rising crust, Fly Guys Pizza arrives frozen and fully packaged for retailers to serve hot by the slice or by the 12” pizza, or the 12” pizzas can be merchandised for retail sale in the frozen section for consumers to bake at home. Fly Guys combines great taste with incredible value and is offered in three delicious flavors: pepperoni, five-meat and breakfast — because it’s never too early for pizza!

The brand was conceived with a unique story of two Italian skydivers. Legend has it that Luciano Rosso and Frederico Moretti had a shared passion for pizza AND skydiving, and they decided mid-air to join forces to share their love of Italian pies with the world. Thus, Fly Guys Pizza was born.

McLane Kitchen and CVP offer customers Fly Guys-branded packaging including pizza boxes and slice trays, equipment ranging from pizza ovens to serving utensils, as well as signage such as posters, menu boards and banners.

“We are thrilled to enter the most talked about category in convenience with Fly Guys Pizza program,” said Teresa Voelter, general manager of Consumer Value Products at McLane. “With retail and foodservice options, our customers will be enthusiastic about the program and its benefits to help drive their sales.”

In addition to Fly Guys Pizza, CVP is also proud to launch new products for Beau Dacious, its line of pet products, that include leashes and food/water bowls, as well as assorted fruit snacks and dinosaur fruit snacks for the YumBees brand at McLane’s National Trade Show.

CVP’s 240+ products are available to both McLane customers and non-McLane customers and are currently offered at retail locations nationwide.

© 2018 David Mazor


Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Lubrizol Selects MSA as New Distributor in the Andean Countries

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The Lubrizol Corporation has announced its Engineered Polymers business has selected MSA Marketing Services of America, as a new distributor for the thermoplastic polyurethane (TPU) portfolio of the company’s business throughout the Andean Countries.

MSA distributes engineering plastics with significant territory coverage for all Andean Countries and will focus efforts on Lubrizol’s Engineered Polymers’ portfolio on elastomers applications. They have warehouses and office facilities strategically located in Bogota, Colombia.

The agreement, which took effect July 1, 2018, includes the following key product lines which are well-suited for today’s innovative and demanding applications:

Estane(R) TPU: products are utilized in film and sheet, extrusion, blow molding, injection molding, over molding, calendaring and solution coating processes.

Isoplast(R) ETP: are hard and high flexural modulus polyurethane engineering resins with excellent chemical resistance and barrier properties.

Pearlbond(TM) TPU: Hot Melt Adhesives (HMA) and Reactive Hot Melts (HMPUR), typically used in automotive interior parts, bookbinding, furniture, textile and footwear.

Other products that will also be distributed by MSA are: Pearlthane(TM) TPU, Pearlthane(TM) ECO* TPU and Carbo-Rite(TM) Conductive Compounds.

Rogerio Colucci, Lubrizol engineered polymers business manager for Latin America comments, “It is exciting to work with MSA, as they have excellent in-depth knowledge of the engineering plastics markets in the Andean Countries. When combined with Lubrizol’s innovative and durable TPU solutions for specialized wire and cable, consumer, industrial, automotive and footwear applications, this will further enhance our ability to work closely with customers, helping them solve valuable problems and drive innovation and growth in the Andean Countries.”

George Lanza, president of MSA Group, comments, “With the new dynamics and demands of the high-tech resins market and considering the competitive value of taking advantage of the availability of advanced products that increase quality in a cost-effective manner, we are proud and fortunate to represent the products and the professional ethics of a large company such as Lubrizol. With this alliance we close the circle regarding our mission to continue helping our clients grow while maintaining the importance of understanding and appreciating the need to stay at the technological forefront in favor of a solid and sustainable growth.”

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Mouser Electronics Signs Distribution Agreement with Samtec

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Berkshire Hathaway’s Mouser Electronics, Inc., the industry’s leading New Product Introduction (NPI) distributor with the widest selection of semiconductors and electronic components, today announced a global distribution agreement with Samtec, a leader in the electronic interconnect industry and a global manufacturer of connectors, cables, optics and RF systems. Through the agreement, Mouser now stocks the full line of Samtec products, including high-speed board-to-board, connectors, cables, and optics.

“Samtec is renowned for its high-quality, reliable and innovative interconnect solutions,” said Jeff Newell, Senior Vice President of Products at Mouser Electronics. “We are excited to now offer Samtec’s products to our customers around the world and look forward to a mutually successful partnership.”

“Mouser is a proven leader in the industry, and we are proud to announce this distribution agreement,” said Ashley Quinlan, Strategic Marketing Director at Samtec. “Mouser recognizes that Samtec is a different type of supplier when it comes to offering bleeding edge technology with incredibly short lead times and on-time delivery rates, and their strategies have shown a commitment to bringing our product breadth to their customers.”

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Century 21 Van Der Wende Associates Joins Berkshire Hathaway HomeServices

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Berkshire Hathaway HomeServices, part of the HSF Affiliates LLC family of real estate brokerage franchise networks, has announced that Century 21 Van Der Wende Associates has joined its network, operating as Berkshire Hathaway HomeServices Van Der Wende Properties.

The full-service brokerage, serving the greater North Jersey market, remains independently owned and operated by local real estate veterans Bob and Lorraine Van Der Wende. The two founded their company in 1980 and have grown it into a local powerhouse known for market expertise and superior client service. In fact, Van Der Wende Properties has led the Passaic Valley in home sales volume the last 27 years, according to Garden State MLS data. Berkshire Hathaway HomeServices remains among America’s fastest-growing real estate brokerage networks with 47,000+ agents and 1,400 offices named to the brand since its September 2013 launch.

“Van Der Wende Properties is a terrific brokerage and a clear market leader for nearly three decades – that’s huge for our brand,” said Gino Blefari, president and CEO of Berkshire Hathaway HomeServices. “The company is as much known for sound leadership and skilled, attentive sales professionals as it is for its work ethic and love for the business. We’re proud to welcome this team to Berkshire Hathaway HomeServices.”

“As brokerage owners, our responsibility is to provide our agents with the very best resources so that they may be their very best for their deserving clients,” said Broker Bob Van Der Wende. “I interviewed and researched every brokerage network you could imagine, and the one that met my tough criteria was Berkshire Hathaway HomeServices.”

The brand is fresh, progressive and distinctive, he continued, with core values closely aligned with those of his company: trust, integrity, stability and longevity. “Simply put, we think Berkshire Hathaway HomeServices is the best brand name in real estate, and when our agents are sitting across from a client that homebuyer or seller will feel instant trust and credibility.”

Lorraine Van Der Wende said Berkshire Hathaway HomeServices’ tools, resources and support will help her team win business, operate more efficiently and better serve clients. With their network membership, Van Der Wende Properties’ agents gain access to Berkshire Hathaway HomeServices’ Global Network Platform, a powerful tool suite driving lead generation, marketing support, social media, video production/distribution and more. The brand also provides international listing syndication, relocation referrals, professional education and the exclusive Luxury Collection marketing program for high-end listings.

“The network is committed to providing the best tools and systems to enable their franchisees to stand apart from the competition and be even more productive,” she said. “We are excited for our future with Berkshire Hathaway HomeServices.”

Bob Van Der Wende added that the brand will help Van Der Wende Properties recruit more of the region’s top sales professionals and reach new markets. “The possibilities are endless for a hard-working brokerage charged by the momentum and power of a brand that’s aggressively increasing market share, agent tools and support,” he said. “We will grow and serve more clients, from entry-level and move-up buyers to sellers of our markets’ finest luxury homes.”

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.