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Dairy Queen

Art D’Elia Joins Dairy Queen as COO for U.S. and Canada

(BRK.A), (BRK.B)

International Dairy Queen, Inc. (IDQ), a subsidiary of Berkshire Hathaway, has appointed Art D’Elia as chief operating officer for the U.S. and Canada. Reporting directly to the company’s president and CEO, D’Elia will oversee nearly 275 employees across operations, training, and marketing to drive financial growth and franchisee success.

“Art’s expertise in brand strategy, marketing, and operations will be instrumental in strengthening the DQ system,” said Troy Bader, president and CEO of IDQ. “His leadership will help us achieve our vision of becoming the world’s favorite quick-service restaurant.”

D’Elia expressed enthusiasm for his new role, stating, “It’s an honor to join the DQ team. I look forward to expanding the brand, supporting franchisees, and introducing more consumers to the DQ experience.”

Before joining IDQ, D’Elia spent seven years at Domino’s Pizza, where he led international operations and served as chief marketing officer. He has also held leadership positions at Danone Dairy and PepsiCo.

Based at IDQ’s Minneapolis headquarters, D’Elia brings a wealth of experience to one of the world’s most iconic quick-service brands, which operates over 7,700 restaurants in more than 20 countries.

© 2025 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.

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Lessons From Warren Buffett

Lessons From Warren Buffett: On Bubbles and Opportunities

Warren Buffett, the legendary investor, understands that stock market prices often disconnect from underlying fundamentals. This creates both risks and opportunities for disciplined investors.

At the 1997 Berkshire Hathaway Annual Meeting, Buffett warned about the dangers of speculative enthusiasm. “People get captivated simply by the notion of rising prices without going back to the underlying rationale. That’s when you get very dangerous conditions in terms of possible bubbles,” he explained.

Buffett emphasized that this behavior isn’t limited to market highs. Extreme reactions—whether euphoric or fearful—can lead to mispriced assets. “It’s just people behave in extreme ways in markets,” he noted. “And over time, that’s very good for people that keep their heads.”

For Buffett, staying rational amid market volatility is key to long-term success.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2025 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.

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Pilot Flying J

Pilot Launches Nation’s First B99 Biodiesel Retail Offering for Commercial Fleets

(BRK.A), (BRK.B)

Berkshire Hathaway’s Pilot is making history by introducing the country’s first B99 biodiesel retail offering for commercial fleets at its Decatur, Illinois, travel center.

This milestone is the result of a strategic collaboration with PepsiCo, ADM, and Optimus Technologies, aiming to advance sustainability in the trucking industry.

B99 biodiesel, a low-carbon fuel made from vegetable oils, animal fats, or recycled grease, is a game-changer for reducing emissions in hard-to-decarbonize sectors like long-haul trucking. Optimus Technologies played a key role in enabling this transition with its innovative technology that upgrades diesel engines to run on up to 100% biodiesel.

“We know how important sustainability is to our customers and strive to meet their growing needs for greener fuel options,” said Eric Fobes, head of renewables at Pilot. “This collaboration highlights how partnerships can drive impactful solutions.”

The rollout includes B99 biodiesel installations at:

  • Now available: 4030 East Boyd Road, Decatur, IL
  • Coming this spring: 11957 Douglas Avenue, Des Moines, IA
  • Coming this summer: 8787 South Lancaster Road, Dallas, TX

Supported by industry organizations like the Iowa Soybean Association and the American Lung Association, this initiative reflects Pilot’s commitment to shaping a more sustainable future for commercial transportation.

© 2025 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.

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BYD

Twice the Power of Tesla: BYD’s Supercharger Set to Disrupt the Market

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Berkshire Hathaway-backed BYD is about to upend the electric vehicle (EV) charging game. On March 17, the Chinese automaker will unveil its Super e-Platform, featuring a 1,000-kW supercharging system—twice as powerful as Tesla’s V4 Supercharger.

The announcement, made on Weibo, suggests BYD’s new technology will slash charging times to rival traditional gas refueling. A leaked poster teases the breakthrough: “1,000-kW flash charging that allows refueling and charging to have the same speed.” If true, this could mean a full charge in just 5-8 minutes for a 100-kWh battery.

Currently, most superchargers operate between 200 kW and 400 kW, with only a few reaching 500 kW. Tesla’s V4 Supercharger, at 500 kW, was its fastest yet—but BYD aims to double that benchmark.

Alongside the tech reveal, BYD will open pre-sales for its Han L sedan and Tang L SUV at the Shenzhen event. This move signals a major push in the high-performance EV market, challenging industry giants with both cutting-edge innovation and aggressive expansion.

Tesla plans to bring its V4 Superchargers to China in 2025—but, BYD will have already lapped them in that race.

© 2025 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.

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Nebraska Furniture Mart

Nebraska Furniture Mart Partners on New Marriott Hotel & Convention Center in Cedar Park

(BRK.A), (BRK.B)

Berkshire Hathaway’s Nebraska Furniture Mart (NFM), in partnership with Indiana-based Great Lakes Capital (GLC) and the City of Cedar Park, have announced landmark agreement for a full-service Marriott hotel and convention center at Berkshire Hathaway’s CedarView, a premier mixed-use development in Cedar Park, Texas.

This state-of-the-art project will feature approximately 300 guest rooms, 30,000 square feet of event and meeting space, a full-service restaurant, a breakfast café, and an expansive pool area. Designed to elevate the hospitality experience in Cedar Park, the hotel will serve as a key destination for both business and leisure travelers.

“This hotel and event space will be a game-changer for Cedar Park and the greater Austin area,” said Ryan Blumkin, Executive Vice President of NFM. “Our collaboration with Great Lakes Capital and the City of Cedar Park underscores our commitment to creating dynamic, community-focused developments.”

As an anchor for the CedarView development, the project aligns with NFM’s strategy of expanding its footprint and enhancing local economies. The hotel and convention center will complement NFM’s upcoming Cedar Park retail location, which is currently under construction, further solidifying the area as a hub for commerce and entertainment.

Construction is set to begin in May 2025, with an expected opening in early 2027.

Berkshire’s Nebraska-based home retailer NFM (Nebraska Furniture Mart) will open its fifth store in the city of Cedar Park, Texas, approximately 16 miles northwest of downtown Austin.

© 2025 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.

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Lessons From Warren Buffett

Lessons From Warren Buffett: Choosing the Right Businesses for the Long Term

New businesses are constantly emerging as entrepreneurs launch new ventures in various industries. However, legendary investor Warren Buffett emphasizes the importance of investing in businesses with high barriers to entry—factors that deter competitors from flooding the market.

At the 2012 Berkshire Hathaway Annual Meeting, Buffett explained that industries without significant barriers to entry face intense competition. “In those industries, you better be running very fast,” he said, noting that competitors will quickly analyze and exploit weaknesses or strive to outperform existing players.

For long-term success, Buffett seeks businesses that are protected by factors like brand loyalty, patents, or operational advantages, shielding them from being overwhelmed by new entrants. His advice highlights the value of competitive resilience in sustaining business growth.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2025 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.

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Announcements

Women in Leadership: Intero Announces Major Executive Advancements

(BRK.A), (BRK.B)

Intero, a Berkshire Hathaway affiliate and subsidiary of HomeServices of America, has announced the promotions of Heather Victoria, Alexandria (“Alex”) Kavalaris, and Mia Park. These leadership advancements reinforce Intero’s commitment to fostering strong female leaders and driving company growth.

Heather Victoria, Intero’s longtime Controller, has been promoted to Vice President. With over 30 years of financial experience, she now oversees strategic partnerships alongside company president Scott Chase. She also holds a key finance role within HomeServices of America’s Shared Success Center.

Alex Kavalaris, previously Corporate Counsel, steps into the role of Vice President and General Counsel. A seasoned legal expert, she will continue guiding the company’s legal strategy and providing counsel to Intero’s 1,500 agents. An active contributor to real estate law discussions, she frequently lectures at industry associations.

Mia Park has taken on the position of Broker of Record for Intero and is now an officer of HomeServices of America. Since joining Intero in 2003, Park has led major offices, managed relocation services, and overseen agent training. She now plays a crucial role in daily brokerage operations and compliance.

“These three leaders have been integral to Intero’s success for many years,” said Terry Meyer, Co-Founder and President of Intero. “We look forward to their continued impact as they help shape the future of our brokerage.”

For over two decades, Intero has built a culture of collaboration and excellence. Under its dynamic leadership team, the company remains dedicated to innovation and industry growth.

© 2025 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.

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CORT

CORT Business Services Promotes J.T. Marcum to Executive Vice President

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CORT Business Services, a Berkshire Hathaway company and the nation’s leading provider of furniture rental and transition services, has announced the promotion of Joseph (J.T.) Marcum to Executive Vice President, Corporate Operations and Supply Chain.

Since joining CORT in 2019 as Vice President of Business Strategy, Marcum has played a key role in advancing strategic initiatives in transportation, logistics, and supply chain management. His promotion to Corporate Vice President in 2021 expanded his responsibilities to housewares, product development, freight, logistics, real estate, and contract management. His leadership has significantly improved efficiency, consistency, and profitability across these areas.

“I’m honored to step into this role and continue working alongside such a talented team,” said Marcum. “CORT’s strength lies in its ability to adapt and improve, and I look forward to further optimizing our supply chain and logistics to better serve our clients.”

A dedicated LEAN Manufacturing practitioner, Marcum emphasizes efficiency-driven strategies while maintaining a strong customer focus. In 2023, he earned his Certificate in Production and Inventory Planning (CPIM) from the Association of Supply Chain Management Professionals, further solidifying his expertise.

“J.T. has an exceptional ability to tackle complex challenges and drive meaningful improvements,” said Paula Newell, Chief Operating Officer. “His leadership has already made a measurable impact, and I’m excited to see how he continues to shape CORT’s future.”

A graduate of Ball State University, Marcum is also an active alumni volunteer for Sigma Phi Epsilon. He resides in Brambleton, VA, with his wife, Kristin, and their dog, Brodie. In his free time, he enjoys golfing, traveling, and exploring Northern Virginia’s wine country.

With this promotion, Marcum will report directly to Newell, guiding CORT’s operational and supply chain strategy to ensure continued innovation and customer-focused solutions.

© 2025 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.

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Value Investing

Lessons From Warren Buffett: Steer Clear of Fading Businesses

Investors are often tempted by the seemingly low prices of shares in declining businesses, especially when these companies pay attractive dividends. However, Warren Buffett strongly advises against this approach, despite starting his career by investing in what he called “cigar butt” businesses—companies offering just a few remaining puffs of profitability.

Buffett emphasizes that focusing on healthier, growing businesses yields better long-term results. “The same amount of energy and intelligence brought to other types of businesses is just going to work out better,” he said during the 2012 Berkshire Hathaway Annual Meeting.

He warned that declining businesses often come with unrealistic projections and limited future potential. “If you really think a business is declining, most of the time you should avoid it,” Buffett noted. Instead, he highlighted that the greatest returns come from investing in companies with solid growth prospects, urging investors to prioritize such opportunities over short-lived bargains.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2025 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.

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Johns Manville

Berkshire’s Johns Manville to Add Over 350 Jobs with New Insulation Production Line in Georgia

(BRK.A), (BRK.B)

Johns Manville (JM), a global building and specialty products manufacturer and a Berkshire Hathaway company, has announced plans to build a new Climate Pro blowing wool production line in Winder, GA.

“This new production line in Winder will help JM meet our customers’ growing demand for blowing wool,” said Bob Wamboldt, President and CEO of Johns Manville.

Construction is set to begin early next year, with operations expected to start by mid-2027. Upon completion, JM will employ over 350 people in Winder.

Greg Clarke, President of JM’s Insulation Systems business, emphasized the strategic location, noting that increased capacity in the Southeast will enhance service to East Coast and Central U.S. markets.

Climate Pro blown-in fiberglass insulation provides consistent coverage, filling hard-to-reach spaces for better energy efficiency and comfort in homes. It is widely used in attics and net-and-blow systems, offering quick and efficient installation by professionals.

© 2025 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.