Month: October 2024

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NetJets

New NetJets Terminal in Las Vegas Set to Elevate Private Aviation Experience

(BRK.A), (BRK.B)

NetJets, Berkshire Hathaway’s private aviation leader, and Signature Aviation, the largest operator of private aviation terminals, have launched a landmark project in Las Vegas. Last week, the companies broke ground on a new, state-of-the-art facility at Harry Reid International Airport (LAS), marking their first new-build collaboration.

Expected to open in 2027, the campus will feature a NetJets-exclusive terminal, a 24/7 NetJets Service Hub™, and two hangars, designed to enhance aircraft access and the travel experience for NetJets’ clients, known as “Owners.”

The custom NetJets terminal will offer a welcoming lobby, dedicated parking, and ramp access for smooth arrivals and departures. NetJets Service Representatives will be available onsite to assist Owners and Crewmembers.

The campus will also include a top-tier maintenance hub with an attached hangar, open round-the-clock to support NetJets’ global fleet. This facility will house a comprehensive parts inventory and a skilled team to ensure aircraft are maintained to the highest standards. A second hangar will serve NetJets’ subsidiary, Executive Jet Management.

Beyond elevating the Owner experience, the project will create hundreds of construction jobs and permanent operational roles, benefiting the Las Vegas economy.

“This extraordinary facility will enhance the world-class service our Owners expect while creating local job opportunities,” said Patrick Gallagher, President of NetJets Aviation. Signature Aviation’s CEO, Tony Lefebvre, added, “This collaboration underscores our shared mission to provide seamless, exceptional private aviation experiences.”

© 2024 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 a 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
Brooks

Brooks Running Achieves Record Growth, Reaches $1B in Sales Before Q4

(BRK.A), (BRK.B)

Brooks Running, owned by Berkshire Hathaway, surpassed $1 billion in global revenue through September, marking a significant milestone achieved even before the start of its fourth quarter.

This growth reflects the brand’s expanding market presence across all regions and channels, with North America seeing a notable 10% year-over-year increase and e-commerce up by 16%. Brooks held the No. 1 spot in adult performance running footwear at U.S. national retail for the 11th straight quarter and led in U.S. specialty footwear retail through the third quarter of 2024.

Internationally, Brooks saw over 30% revenue growth in the Asia Pacific-Latin America region (APLA) and a 10% increase in Europe, the Middle East, and Africa (EMEA), driven by a 24% boost in e-commerce sales. In Germany and France, Brooks’ growth significantly outpaced the general performance running market, gaining 2.2 and 1.0 market share points, respectively.

Brooks CEO Dan Sheridan attributes this success to the company’s focus on delivering top-notch performance gear and customer experiences. “Every day, we aim to meet more people and introduce them to what Brooks is all about,” he said, noting the brand’s dedication to ensuring its products are the top choice for runners worldwide.

© 2024 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 a 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 Specialty Insurance

Berkshire Hathaway Specialty Insurance Appoints Kristina Målarbo as Head of Claims for Nordics

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of Kristina Målarbo as the new Head of Claims for the Nordics.

Anna Green, Head of Nordics at BHSI, emphasized the company’s “Claims is our product” philosophy, noting that it sets BHSI apart from competitors and enhances service for customers and brokers. She expressed excitement about Kristina joining the team to strengthen their claims operations in the region.

Kristina brings 25 years of experience in managing commercial and multinational insurance claims at global firms. Based in Stockholm, she will lead BHSI’s local claims team and support its growth in the Nordics.

Earlier this year, BHSI expanded into the Nordic market, offering a range of insurance solutions, including property, casualty, executive & professional lines, construction, and multinational programs.

© 2024 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 a 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
Warren Buffett

Warren Buffett Denounces Fake Endorsements on Social Media

(BRK.A), (BRK.B)

With the rise of social media, false claims about Warren Buffett endorsing investment products or political candidates have increased. Buffett has clarified that he does not, and will not in the future, endorse any investment products or support political candidates.

Berkshire Hathaway issued the following statement:

In light of the increased usage of social media, there have been numerous fraudulent claims regarding Mr. Buffett’s
endorsement of investment products as well as his endorsement and support of political candidates. Mr. Buffett
does not currently and will not prospectively endorse investment products or endorse and support political candidates.

© 2024 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
Lessons From Warren Buffett

Lessons from Warren Buffett: Invest in Value, Not Price

Warren Buffett emphasizes that focusing on a stock’s price rather than its intrinsic value is a mistake for investors seeking long-term success. At the 2003 Berkshire Hathaway Annual Meeting, Buffett explained that he and his partner, Charlie Munger, prioritize the value of businesses over their stock prices.

“If you go to bed every night thinking about the price of [stocks], it’s almost impossible to do well in equities over time,” Buffett said. He highlighted that, unlike many investors, he isn’t concerned with daily stock quotes. For example, Buffett noted that since purchasing See’s Candy in 1972, they’ve never worried about its market value because they focus on the company’s results instead.

Buffett warns that fixating on stock prices can be dangerous, as it suggests the market knows more than the investor. He encourages focusing on value and seizing opportunities when prices drop, noting that it’s often a mistake to stop buying just because the price has risen slightly. He candidly shared that this mindset cost them $8 billion in the case of Walmart stock, where they hesitated to buy more as the price increased.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2024 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
BYD

BYD’s SHARK Hybrid Pickup Makes Waves in Panama

(BRK.A), (BRK.B)

Berkshire Hathaway-backed BYD has officially launched its first hybrid pickup truck, the BYD SHARK, in Panama. This launch follows its successful debut in Mexico in May, signaling BYD’s growing commitment to expanding across Latin America. The SHARK also marks BYD’s entry into Panama’s hybrid vehicle market.

The BYD SHARK offers an impressive range of 840 kilometers (NEDC) with 100 kilometers of pure electric driving, making it ideal for both city commutes and long-distance travel. Its design combines technology and power, featuring the largest body size in its class and a shark-inspired exterior that redefines traditional pickup aesthetics.

Eduardo López de Victoria, Regional General Manager of BYD Central America and the Caribbean, highlighted the rising demand for pickup trucks in Panama, noting that the SHARK is tailored to meet both business and personal needs. He emphasized that the SHARK’s cutting-edge technology and user-friendly features aim to revolutionize the traditional fuel-powered pickup market.

The launch event featured a camping-themed test drive experience, where guests, media representatives, and influencers praised the SHARK’s performance. Currently, BYD operates two dealerships in Panama and plans to expand its sales network to provide better service for local consumers.

© 2024 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a 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

Environmental Approval Moves Berkshire’s TransCanyon’s Cross-Tie Project Another Step Forward

(BRK.A), (BRK.B)

TransCanyon LLC, a joint venture between Berkshire Hathaway Energy’s BHE U.S. Transmission and Pinnacle West Capital Corporation, has achieved a significant step in the development of its Cross-Tie Project. The Bureau of Land Management (BLM) and the U.S. Forest Service recently announced the availability of the Final Environmental Impact Statement (FEIS) for the project, a critical milestone for this major energy infrastructure initiative.

The Cross-Tie 500-kV Transmission Project is designed to enhance energy transmission in the western U.S., increasing the grid’s resilience and enabling the delivery of renewable energy across regional markets. Stretching approximately 214 miles, the high-voltage line will connect central Utah’s Clover Substation to the Robinson Summit Substation in Nevada, with a capacity of 1,500 megawatts.

The FEIS, released on September 20, 2024, outlines the project’s environmental impacts and proposed alternatives, as well as key mitigation measures to be followed during construction and operation. Michael Gates, BLM West Desert District Manager, emphasized the project’s role in improving grid reliability and advancing renewable energy delivery in the region.

TransCanyon looks forward to the final Record of Decision, expected in winter 2024, and aims to provide enhanced energy access, reduce congestion on current lines, and connect to the CAISO energy market by 2027.

© 2024 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 a 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
Lessons From Warren Buffett

Lessons From Warren Buffett: How to Choose Stocks Like a Legend

Warren Buffett, one of the world’s most successful investors, follows a straightforward yet challenging approach to selecting stocks. His criteria focus on fully understanding a company, predicting its future earnings, and assessing the quality of its management.

At the 1998 Berkshire Hathaway Annual Meeting, Buffett explained that selecting a stock is essentially about analyzing a business. First, he looks for companies with clear and understandable business models. He wants to understand their products, the competition, and potential risks. Next, he evaluates whether the company’s earnings are likely to improve over the next five to fifteen years. Finally, he assesses the management and determines if the stock is reasonably priced based on his findings.

As Buffett famously notes, “It is simple, but not easy.”

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2024 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
BYD

BYD Delivers 100 Electric Buses to Uruguay’s Largest Transit Operator

(BRK.A), (BRK.B)

On September 19, Berkshire Hathaway-backed BYD delivered 100 fully electric buses to CUTCSA, Uruguay’s largest public transit operator. The delivery took place at BYD’s Qingdao factory and marks another significant milestone in the company’s global expansion of commercial electric vehicles.

The 12-meter K9UD electric buses, designed for the Uruguayan market, emphasize environmental sustainability, energy efficiency, smart technology, and passenger safety. This delivery symbolizes the growing cooperation between BYD and Uruguay as the country moves toward 100% electrified public transit. BYD’s electric buses are also making strides across Latin America, including in Brazil, Chile, Colombia, and Ecuador, as the company leads the region’s transition to green transportation.

© 2024 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a 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 Specialty Insurance

BHSI Announces Leadership Changes in Global Casualty & Healthcare Underwriting

(BRK.A), (BRK.B)

BHSI has named Caroline Alder-Smurthwaite to its Global Underwriting Office for Casualty & Healthcare, while promoting Charlotte Behar to succeed her as Head of Casualty in the UK.

Hilary Browne, Deputy Global Chief Underwriting Officer at BHSI, praised Caroline’s leadership in steering the UK casualty business, ensuring consistency and stability for clients. In her new global role, Caroline will collaborate with BHSI’s underwriting leaders worldwide to align global strategies with local market needs.

Charlotte Behar, bringing strong financial and underwriting expertise, will ensure a seamless transition as she steps into her new role.

Nick Major, UK Country Manager at BHSI, highlighted the company’s focus on cultivating internal talent, saying these promotions reflect their commitment to long-term relationships and a strong leadership pipeline. Caroline, who joined BHSI in 2021, brings 25 years of industry experience and will remain based in London.

© 2024 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 a 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.