Month: January 2020

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Acquisitions Berkshire Hathaway HomeServices Real Estate

Berkshire Hathaway HomeServices Commonwealth Real Estate Acquires Dooley and Mason Realty Group

Berkshire Hathaway HomeServices Commonwealth Real Estate has announced the acquisition of Dooley and Mason Realty Group, a local real estate firm that has served the region north of Boston for more than 11 years.

Dooley and Mason was launched in February 2008 by realtors Judy Mason and Lisa Dooley, both of whom had more than ten years’ experience before starting their company. For over 11 years, their agency covered not only the North Reading market but more than 25 surrounding towns and cities including Amesbury, Andover, Bedford, Beverly, Billerica, Boxford, Burlington, Chelmsford, Danvers, Dracut, Everett, Georgetown, Haverhill, Ipswich, Lowell, Lynn, Lynnfield, Somerville, Medford, Malden Manchester, Marblehead, Methuen, Middleton, North Andover, Peabody, Reading, Revere, Saugus, Stoneham, Salem, Tewksbury, Topsfield, Wakefield, Wilmington, Woburn, Swampscott and Winchester.
The agency closed nearly 500 transactions and achieved more than $200 million in sales volume.

“As the industry shifted, we realized we needed more to continue to deliver the quality service we were famous for,” said Dooley. “After a thorough search of our options, it became clear that Berkshire Hathaway HomeServices Commonwealth Real Estate was a perfect fit.

“It’s a big company with the small company feel, where everyone pitches in to help. We are so excited to become part of the Berkshire Hathaway HomeServices family. By joining Berkshire Hathaway HomeServices Commonwealth Real Estate, we gain global recognition with a brand that has all the modern tools, technology and resources that we can implement on day one to help grow our business and better serve our customers and clients.”

The two principals and their team will join the Berkshire Hathaway HomeServices Commonwealth Real Estate family at their Reading office located at 360 North Main St. Their team will be known within Berkshire Hathaway HomeServices Commonwealth Real Estate as The Dooley and Mason Realtor Group.

“We’re excited to go forward with the newest members of our growing brokerage,” said George Patsio, founding partner. “Judy and Lisa have done a phenomenal job of building their brand on the North Shore. We are confident that the combination of The Dooley and Mason Realtor Group and Berkshire Hathaway HomeServices Commonwealth Real Estate will be a major force throughout the region.”

© 2020 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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Minority Stock Positions Stock Portfolio

BYD Delivers 100th Battery-Electric Truck in U.S.

(BRK.A), (BRK.B)

BYD has delivered its 100th battery-electric truck in the United States.

World-wide, BYD has delivered more than 12,000 zero-emission electric trucks across all classes.

BYD’s 100th U.S. truck is a second generation BYD 8TT Class 8 Electric Semi that is part of a larger deployment for Anheuser-Busch’s Oakland, CA distribution operations.

“This is a great milestone for BYD, and it is just the beginning,” said Aaron Gillmore, BYD’s Vice President of Truck Business. “Our trucks are hard at work every day proving that electric is the new standard. 2020 will be a fantastic year for battery-electric trucks.”

The 100th truck will go to work delivering beverages for Anheuser-Busch around the San Francisco Bay area to retail accounts such as grocery and convenience stores on a daily basis. The trucks will charge at the Anheuser-Busch Oakland facility overnight. The project was grant funded by CARB.

Through its 2025 U.S. Sustainability Goals, Anheuser-Busch has committed to reducing carbon emissions by 25% across its entire value chain by 2025.The Oakland deployment builds on the brewer’s existing partnership with BYD including 21 additional BYD battery electric trucks at four of their distribution facilities across southern California: Sylmar, Riverside, Pomona, and Carson.

“We are proud to continue to build on our commitment to sustainable logistics through our partnership with BYD in California,” said Joaquin Schlottmann, Vice President of Tier 2 Logistics at Anheuser-Busch. “By integrating zero-emission vehicles into our distribution fleet, we are taking another step towards reaching our sustainability goals and helping ensure our beers are delivered in the most sustainable way possible.”

Anheuser-Busch put the BYD 8TT through extensive testing on range, acceleration, gradeability, charging speed, and more. The BYD 8TT exceeds the performance requirements of Anheuser-Busch and is receiving very positive feedback from drivers.

BYD and Berkshire Hathaway

In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares. It’s an investment that has paid off handsomely. Berkshire’s original investment of $230 million has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.

© 2020 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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NetJets

NetJets Accepts Delivery of New Super-Midsize Business Jet

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Berkshire Hathaway’s NetJets accepted its first delivery of the new Cessna Citation Longitude super-midsize business jet on Dec. 31, 2019.

This delivery represents a significant milestone for both NetJets and Textron Aviation as they bring this revolutionary aircraft to passengers. NetJets anticipates that its Longitude will enter service for NetJets Owners in early 2020.

“We are pleased to have the new Citation Longitude enter the NetJets fleet and continue to strengthen a relationship that goes back decades,” said Ron Draper, president and CEO, Textron Aviation. “The Longitude, with class-leading performance, efficiency and an unrivaled cabin experience, is already redefining its category and will join the Citation Latitude as fleet favorites for NetJets Owners.”

“No matter the reason for being on board, from takeoff to landing, the innovations of the Citation Longitude make it the most enjoyable flight imaginable,” said Adam Johnson, Chairman & CEO, NetJets.

The new Citation Longitude incorporates the latest technologies throughout the aircraft like integrated autopilot and autothrottle systems with emergency descent mode (EDM). The aircraft is equally designed around the pilot experience, passenger comfort and overall performance, delivering an aircraft that lives up to its designation as the flagship of the Citation family of business jets. The Citation Longitude gained FAA certification in September 2019 and Textron Aviation began customer deliveries soon after.

NetJets has operated a fleet of nearly 500 Cessna Citations since 1984. In addition to the Citation Longitude aircraft order, NetJets has taken delivery of more than 100 Cessna Citation Latitude aircraft. Owner demand has ranked the Latitude as the best-selling aircraft in the NetJets portfolio, further establishing the aircraft as Textron Aviation’s best-selling mid-size jet, outselling its nearest competitor 4:1.

With a range of 3,500 nautical miles (6,482 kilometers) and full fuel payload of 1,600 pounds (726 kilograms), Textron Aviation designed the Citation Longitude to elevate passenger expectations in the super-midsize class by delivering cabin sound levels that are nearly twice as quiet as the nearest competitor, a low cabin altitude (5,950 feet/1,814 meters), more standard features and an elegant yet comfortable, bespoke interior, fully meeting the NetJets standard for customer satisfaction.

NetJets’ Longitude features a standard double-club configuration of eight fully berthable seats, delivering the most legroom in the super-midsize class. A stand-up, 6-foot (1.83 meters) tall flat-floor cabin and an available streamlined divan enable easy transit along the cabin passageway while a class-leading walk-in baggage compartment accessible throughout the entire flight ensures passengers experience unparalleled convenience. State-of-the-art cabin technology empowers passengers to manage their environment and entertainment from any mobile device, while in-flight internet maximizes productivity.

© 2020 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.

Categories
Minority Stock Positions Stock Portfolio

Long Beach Transit Doubles E-Fleet With BYD Zero-Emission Bus Order

(BRK.A), (BRK.B)

Long Beach Transit in Long Beach, California, is purchasing 14 additional BYD zero-emission K9M 40-foot buses.

The order more than doubles the number of BYD buses in its fleet.

LBT joins Los Angeles Department of Transportation, Anaheim Resort Transportation, and numerous other agencies as repeat customers of BYD’s battery-electric buses.

BYD and Berkshire Hathaway

In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares. It’s an investment that has paid off handsomely. Berkshire’s original investment of $230 million has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.

© 2020 David Mazor


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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.

Categories
Kraft Heinz

Kraft Heinz Appoints Carlos Abrams-Rivera As New U.S. Zone President

(BRK.A), (BRK.B)

As The Kraft Heinz Company continues to rebuild its business momentum with a focus on driving business growth through consumer-first marketing, innovation and people development, CEO Miguel Patricio today announced that Carlos Abrams-Rivera will join his Senior Leadership Team as the new U.S. Zone President.

Effective Feb. 3, 2020, Abrams-Rivera will lead all U.S. business operations, the company’s largest business.

Since officially stepping into the CEO role in July 2019, Patricio also has served as interim President of the U.S. Zone, in addition to his global duties.

“The U.S. represents the majority of our company’s overall business, so this is an enormously important role. I have every confidence that Carlos is the visionary leader we need to drive the U.S. business forward at this moment of transformation,” said Patricio. “Carlos has successfully implemented a strategic approach to reinvigorating brands and has a strong track record of growing businesses with a consumer-first focus to consistently drive strong business results.”

“I am honored to step into the role of U.S. Zone President and look forward to working closely with Miguel and the strong, capable senior leaders he’s assembled at Kraft Heinz,” said Abrams-Rivera. “I’m also very excited to bring my consumer insights passion to drive growth for so many world-class brands, many of which are already very familiar to me.”

A native of Puerto Rico, Abrams-Rivera, 52, will join the company after a successful career spanning more than two decades at companies including Campbell Soup Company, Mondelēz International, and Kraft Foods.

Abrams-Rivera joined Campbell in 2015 and most recently served as Executive Vice President and President, Campbell Snacks, a new division that represents nearly 50 percent of Campbell’s annual sales.

Previously, Abrams-Rivera was President of Campbell’s Pepperidge Farm subsidiary, where he improved the results of this iconic business, driving consistent profitable growth.
His roles at Mondelēz International from 2012-2015 included President of Gum & Candy for Mondelēz Latin America; President, Mondelēz Mexico; Senior Vice President, Global Beverages; and Senior Vice President, Marketing and Strategy for Developing Markets.

Abrams-Rivera began his career at Kraft Foods and held numerous roles from 1998 to 2012, including Senior Vice President, Marketing and Strategy for Developing Markets; Vice President, Nabisco Savory Snacks; and Vice President, Global Biscuits Brands. He also led the development of iconic brands in Cheese, Enhancers, Frozen Pizza, and Oscar Mayer businesses.

© 2020 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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Berkshire Hathaway Specialty Insurance Insurance

Berkshire Hathaway Specialty Insurance Names Hilary Browne Country Manager, Ireland & Head of Casualty, UK & Europe

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Berkshire Hathaway Specialty Insurance has named Hilary Browne to the dual role of Country Manager for Ireland and Head of Casualty for UK and Europe.

“Hilary’s excellent technical underwriting and leadership skills make her a stellar addition to our European team,” said Chris Colahan, President, UK & Europe. “Our customers and brokers are in good hands with Hilary providing our insurance and services with the certainty of BHSI’s long-term commitment and financial strength.”

Hilary comes to BHSI with nearly 20 years of European market experience. She has held numerous insurance underwriting and leadership roles in the UK and Ireland and was most recently Head of International Casualty at AIG.

BHSI’s Casualty offering across UK & Europe includes, Public & Products Liability, Employers Liability, Excess Casualty, Construction Liability, Energy and Environmental Impairment Liability (EIL).

Hilary is based in BHSI’s office in Dublin.

© 2020 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

Berkshire’s Grandscape Adding Multi-Attraction Entertainment Center

(BRK.A), (BRK.B)

A 1770-foot, multi-level kart racing circuit is coming to Berkshire Hathaway’s Grandscape, The Colony, North Dallas as a part of the opening of the newest location of Andretti Indoor Karting & Games.

At the heart of the experience is kart racing. A large, professionally-designed track, will run over three levels and feature banked semi-ovals, dive under, fly over, spiral ramps, exhilaratingly long straights any many more. The three-elevation change with the highest point on 42,65 ft will guarantee an ultimate driving experience.

The Grandscape location will include other attractions such as arcade games, ropes course, racing simulators with VR technology, a two-level laser tag arena, and boutique bowling.

The attraction is scheduled to open in March 2020.

Andretti Indoor Karting and Games was founded in 2001 in Orlando, Florida, and has four locations: one in Orlando, Florida, two in Georgia in Marietta and Roswell, and one in San Antonio, Texas.

© 2019 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.

Categories
Berkshire Hathaway Energy

Massive Nevada Solar Farm Will Set Record for Battery Storage

(BRK.A), (BRK.B)

The sad fact that solar farms don’t work at night is their major drawback. However, that problem is getting ever closer to being solved.

A newly approved 690-megawatt solar electric farm to be built near Las Vegas, Nevada, will set a record for paired battery storage.

The Gemini Solar Project will have the ability to shift electricity produced when the sun is shining to evening hours.

The project, once installed at full capacity, will be the largest solar photovoltaic project in the State of Nevada. The project site is located approximately 25 miles northeast of the Las Vegas metropolitan area, immediately south of the Moapa River Indian Reservation in an unincorporated area of Clark County, Nevada.

The solar farm will bring enough power to Las Vegas to power 400,000 homes, and its planned 380-megawatt battery array with roughly 1.5 gigawatt-hours of storage capacity will enable at least four hours of energy storage.

The Gemini Solar Project is the first to be approved for construction on public land since 2018.

© 2020 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.

Categories
Berkshire Hathaway Energy

Trump Administration Approves Massive Solar Farm on Federal Land

(BRK.A), (BRK.B)

A 690-megawatt solar electric farm has received federal approval to be built on federal land near Las Vegas, Nevada.

The Gemini Solar Project, once installed at full capacity, will be the largest solar photovoltaic project in the State of Nevada.

The project site is located approximately 25 miles northeast of the Las Vegas metropolitan area, immediately south of the Moapa River Indian Reservation in an unincorporated area of Clark County, Nevada.

The NV Energy Crystal Substation and an NV Energy high-voltage transmission line are located less than four miles to the west, and will bring enough electricity to Las Vegas to power 400,000 homes.

The solar project is the first to be approved for construction on public land since 2018.

© 2020 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.