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Benjamin Moore

Benjamin Moore & the Alpha Workshops Create Handmade Designer Wallpaper

(BRK.A), (BRK.B)

Berkshire Hathaway’s Benjamin Moore, a leading paint, color and coatings brand, along with The Alpha Workshops, the nation’s only nonprofit organization providing decorative arts education and employment to adults and youth with disabilities and other vulnerabilities, has announced the launch of their bespoke wallpaper capsule collection.

After decades of close collaboration, the Benjamin Moore color specialists have partnered with The Alpha Workshops wallpaper artisans to create this special edition of 15 hand-painted wallpapers featuring Benjamin Moore premium paints including CENTURY®, Aura® and Studio Finishes®.

“The Alpha Workshops has always used Benjamin Moore as our preferred paint since we first introduced our signature wallpaper offerings in 2001,” said Ken Wampler, Founder and Executive Director of The Alpha Workshops. “This ultra-premium collection enhances our longstanding partnership and exudes the highest level of quality while coating walls in an artful, new way.”

The Benjamin Moore and The Alpha Workshops Capsule Collection contains five patterns realized in three lustrous colorways. In Kimono, paints take the form of a radiant graphic floral, imprinted atop a rich, matte background. In Newport, they form delicate grids, stamped on the paper in layers to create a geometric masterpiece. In Topography, they’re slathered onto a stamp and applied in thick, glossy layers for a marbleized effect. While in Spencer and Horizon, they’re brushed on in feather-light strokes to textured paper that has been folded like origami. For most of the patterns, it takes a full day to create a single roll.

“The Collection speaks to the basic color groups of primaries and neutrals, but all with a layer of glamour,” said Ellen O’Neill, Benjamin Moore Director of Strategic Design Intelligence. “Benjamin Moore premium products coupled with the care and precision by Alpha’s team, create captivating prints in a palette that can be easily mixed and matched.”

The Benjamin Moore and The Alpha Workshops Capsule Collection will be available to order at select Benjamin Moore retailers throughout North America and internationally, as well as from The Alpha Workshops website at alphaworkshops.org. All wallpapers are made-to-order and cost $125 per yard. For a truly custom-made paper, customers and designers can add a touch of their hand by choosing a color scheme that is all their own.

© 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.

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Insurance

Berkshire Hathaway GUARD Insurance Companies Complete Pilot of Safe Drive Systems Radar Collision Avoidance Tech

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Safe Drive Systems (SDS), a leading developer and distributor of aftermarket advanced auto safety technologies, and its partner, Berkshire Hathaway GUARD Insurance Companies, have announced the end of the first stage of their ongoing fleet technology pilot project.

Ten months ago, Safe Drive Systems radar accident prevention systems were installed in the vehicles of selected fleet customers of Berkshire Hathaway GUARD Insurance Companies to evaluate whether the system and the provided service would reduce the frequency and severity of their claims. The vehicles were equipped with an integrated radar accident prevention system and fleet management system, including real-time tracking abilities, report generation software, driver behavior scoring, and the Fleet SDS mobile application.

According to Safe Drive System’s CEO Tuvi Cohen, “The system is currently installed in more than 580 vehicles that collectively have been driven more than 5,000,000 miles and showcases the driver education process to yield positive trends and results in driver performance.”

As noted by SDS’s Cohen, “The radar accident prevention system sends alerts and notifications to the driver which creates a subconscious awareness that was absent prior to installing the system. Ninety-two percent of drivers immediately reduced their speed whenever the radar system warned them of a potentially high-risk situation that could have caused an accident on the road.”

The radar accident prevention system works in all weather conditions and uses both radar and camera sensors to alert drivers of potential hazards. The system paired with the fleet management tool provides the owner or operator insight in “real time” to improve driver behavior and performance with ease.

Cohen notes “Our mission for years has been to make the road a safer place to be through technology. An ambitious idea that drives everything we do — from individual vehicle protection to entire fleet management solutions.”

Sy Foguel, President and CEO of Berkshire Hathaway GUARD Insurance Companies added, “The SDS system helps our insureds manage their fleets and also provides us with telematics data. What we value most, however, is the potential of the system to help avoid auto accidents and save lives.”

© 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.

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Pilot Flying J

Pilot Flying J Targets West Texas Oil Communities for Expansion

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Pilot Flying J continues to grow its presence in the Permian Basin, announcing the opening of six new travel centers in West Texas this year.

The new travel centers will provide more than 250 truck parking spaces to meet the needs of industry traffic and offer full amenities to the local communities along these routes. Pilot Flying J’s network of stores in Texas will grow to 92 locations, with more than 20 in the Permian Basin.

“We’re committed to making a better day for people living, working and traveling through Texas and across the nation,” said Ken Parent, president of Pilot Flying J. “We continue to invest in new stores located strategically across the country to bring convenience, quality, great food and amenities to those who are traveling the roadways. By expanding our network in the Permian Basin, we hope to better serve the exponential growth and rising traffic in the region.”

In June, the company is celebrating the grand openings of a Flying J Travel Center in Kermit, Texas and two Pilot Travel Centers located in Monahans and Midland, Texas. The new locations will add approximately 150 jobs and contribute more than $6.4 million in state and local tax revenue as a result of its increased presence in the state. Later this year, Pilot Flying J will open three more locations in Odessa, Midland and Andrews, Texas.

“Pilot Flying J is honored to be a part of the West Texas community and to contribute to the local school districts,” said Matt Testa, vice president of operations for Pilot Flying J. “We invite residents and those traveling through the West Texas region to visit our new locations. Our friendly team members look forward to serving our guests and providing a clean, all-in-one fuel stop with a variety of food, drinks, supplies and amenities.”

Berkshire Hathaway and Pilot Flying J

In October 2017, Berkshire Hathaway made a $2.76 billion investment in Pilot Travel Centers. Under the terms of the agreement, Berkshire will become the majority owner in five years.

© 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.

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Berkshire Hathaway HomeServices

Four Berkshire Hathaway HomeServices Franchises Merge the Offices of Tarbell, Realtors®

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Berkshire Hathaway HomeServices, part of the HSF Affiliates LLC family of real estate brokerage franchise networks, today announced that four of its franchise network members have merged the offices of Tarbell, Realtors® into their respective organizations.

The transaction includes 20 Tarbell, Realtors® offices operating in Orange, Riverside and San Bernardino counties.

“Our primary objective at Berkshire Hathaway HomeServices is to help our network members grow,” said Gino Blefari, chairman of the network. “We are delighted to announce this transaction as Tarbell, Realtors® has a strong and distinguished legacy in the marketplace and has always attracted top real estate professionals. These professionals will further strengthen our brand and add significant value to the brokerages involved.”

“We’re excited to have found a real estate network that shares the same passion for the business that my family has had for generations,” said Ron Tarbell, CEO of Tarbell, Realtors®. “Our company’s standards of integrity, professionalism and service to the communities we serve are perfectly aligned with those of the Berkshire Hathaway HomeServices brand.”

Tarbell, Realtors® offices generated more than $1.1 billion in real estate sales volume in 2018. They join these Berkshire Hathaway HomeServices network members effective immediately:

Berkshire Hathaway HomeServices California Properties/Nevada Properties/Arizona Properties (Las Vegas) – Tarbell, Realtors’® Anaheim Hills, French
Valley/Murrieta, Lake Elsinore, La Quinta, Menifee, Oasis Country Club, Palm Desert, Palm Springs, Temecula, Upland and Yorba Linda offices.

Berkshire Hathaway HomeServices California Properties (San Diego) – Anaheim/State College, Irvine, Laguna Hills, San Clemente and Santa Ana/Tustin offices.

Berkshire Hathaway HomeServices Perrie Mundy Realty Group (Redlands) – Corona, Redlands and Riverside offices.

Berkshire Hathaway HomeServices California Properties (Cerritos) – Chino office.

“We are thrilled to welcome the Tarbell sales executives and staff into our company,” said Mark Stark, CEO of Berkshire Hathaway HomeServices California Properties/Nevada Properties/Arizona Properties, whose brokerage ranked No. 3 in the network in 2018. “It’s unusual to find two organizations so committed to their people and to sustaining a quality culture. We look forward to sharing all our support in helping these professionals further grow their businesses while adding even more value and service to their clients.”

“It’s an honor to work with the longstanding and respected Tarbell, Realtors® organization,” said Mary Lee Blaylock, CEO of Berkshire Hathaway HomeServices California Properties, the network’s No. 2 brokerage last year. “They have a tremendous team of talented agents and I am thrilled to welcome these professionals to our company. At California Properties, our objective is to help every single agent expand their business through our enhanced tools and resources.

“We are committed to growth as we expand our footprint in existing marketplaces and strategic geographic locations,” Blaylock continued. “Adding these professional and productive agents who share our passion for delivering exceptional client service is an important step toward that goal.”

Dave Corey, co-owner of Berkshire Hathaway HomeServices Perrie Mundy Realty Group/Berkshire Hathaway HomeServices California Realty, said the transaction will help his brokerage better compete in the hotly contested Inland Empire marketplace. “We’re excited to join forces with Tarbell’s Corona, Redlands and Riverside offices and grow our stronghold in the region,” he said. “As always, homebuyers and sellers will know they’re working with the very best in Berkshire Hathaway HomeServices Perrie Mundy Realty Group/Berkshire Hathaway HomeServices California Realty.”

Finally, Dennis Rosas, CEO of Berkshire Hathaway HomeServices California Properties, based in Cerritos, said: “We’re eager to grow our operations in the greater Chino area with the union of the terrific Tarbell team there. We love the market and are excited for our growth prospects in the area.”
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© 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.

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Berkshire Hathaway Automotive Commentary Warren Buffett

Commentary: Berkshire Finally Has Smooth Driving in Texas

(BRK.A), (BRK.B)

Berkshire Hathaway, a company that does a Texas-sized amount of business in Texas, including being the home state for BNSF Railway, had an unexpected bump in the road created by its 2015 acquisition of the Van Tuyl Group.

Berkshire bought the auto dealership group for $4.1 billion after company CEO Larry Van Tuyl approached Berkshire in late-2014 and proposed the acquisition.

Unfortunately for Berkshire, Texas state law prohibited owning dealerships if you manufacture vehicles, something Berkshire does through its wholly-owned Forest River, Inc., a leading manufacturer of RVs and small buses.

Van Tuyl Group, which was rechristened Berkshire Hathaway Automotive, ran afoul of the Texas Department of Motor Vehicles when in 2017 the Department decided to look at whether Berkshire Hathaway was violating state law and might be subject to fines.

Berkshire Hathaway Automotive CEO Jeff Rachor testified before State Sen. Kelly Hancock’s committee that applying the law to auto dealerships because of owning a motorhome manufacturer was an “unintended consequence.”

Unfortunately, Texas regulators didn’t relent and Berkshire’s first push at a legislative fix, which included some glad-handing by Warren Buffet himself, came up empty when the Tea Party coalition helped kill a bill to fix the problem.

Fast forward a couple of years and cooler heads have prevailed.

This time, the bill State Sen. Hancock sponsored, SB 1415, passed, and Gov. Greg Abbott has signed it into law.

The new law, which takes effect Sept. 1, 2019, means that manufacturers are now only prohibited from owning dealerships that sell the same vehicles that they produce, which is not something that Berkshire Hathaway Automotive Group does.

Problem solved, and Warren Buffet can now breath a Texas-sized sigh of relief.

© 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
Minority Stock Positions Stock Portfolio

Santiago, Chile to Add 183 More BYD Electric Buses By August

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Chinese battery and vehicle maker BYD has sold an additional 183 electric buses to Santiago, Chile.

The Chilean Minister of Transportation and Telecommunications, Gloria Hutt, recently announced the new order, which is due to arrive in August.

The 183 BYD electric buses will join an existing fleet of 100 BYD electric buses that started service in December 2018. The buses are operated by Metbus.

With the new delivery, Santiago will become the largest operator of electric buses outside of China, with some 411 buses in service.

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.

© 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.

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Mouser Electronics

Mouser Electronics Expands Distribution Center To Keep Up With Double-Digit Revenue Growth

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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, is greatly expanding its large global headquarters and distribution center to meet the needs of its flourishing business well into the next decade.

Construction is under way to add more than 125,000 square feet to the distribution center, as well as a new 50,000 square-foot office building on Mouser’s campus, located south of Dallas-Fort Worth, Texas.

Upon completion of the new construction, Mouser’s 78-acre global headquarters and massive distribution center will consist of 1 million square feet to accommodate Mouser’s vast inventory of 1 million unique SKUs for products and technologies from over 750 electronic component manufacturers.

With a positive industry outlook, double-digit revenue growth and the addition of many new manufacturer partners, the industry-leading electronic components distributor is expanding its global footprint and growing its business position to meet increasing customer demand worldwide.

In 2018, Mouser’s sales hit $1.9 billion, and the company is on track to surpass that number this year. All this comes as Mouser has expanded its full-time global workforce to more than 2,400 and is set to provide local customer service in four new global locations: Brazil, Poland, Vietnam, and the Philippines.

“With the rapid increase in technological advancements such as IoT, electric vehicles, artificial intelligence, robotics, and 5G, we definitely find ourselves in a very robust and fortunate position,” explained Glenn Smith, Mouser’s President and CEO. “We are planning for future growth as our customer needs increase.”

© 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.

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Berkshire Hathaway Specialty Insurance Insurance

Berkshire Hathaway Specialty Insurance Names Mark Walker, Head of Customer and Broker Engagement for UK

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Berkshire Hathaway Specialty Insurance (BHSI) has expanded its team in the UK with the appointment of Mark Walker as Head of Customer and Broker Engagement. Mark will be based in BHSI’s London office.

“I’m extremely pleased to have Mark leading our efforts to expand our broker and customer relationships across the UK. He brings to this new role more than two decades of industry experience and a great passion and commitment to growing BHSI’s partnerships in this important market,” said Chris Colahan, President, UK and Europe, BHSI.

Mark was most recently Head of SME, Affinity & Digital, Asia Pacific at QBE. Before that, he was CEO Hong Kong at QBE. He also served as CEO, Hong Kong & Specialty at RSA and held numerous other leadership positions at RSA in the UK and Emerging Markets over more than a decade.

© 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.

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Berkshire Hathaway HomeServices

South Florida Luxury Real Estate Leader Joins Berkshire Hathaway HomeServices

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Berkshire Hathaway HomeServices has announced that South Florida luxury real estate leader EWM Realty International has joined its network operating as Berkshire Hathaway HomeServices EWM Realty.

The 55-year-old, full-service brokerage is led by CEO Ron Shuffield, one of South Florida’s most respected operators in the business. It has been a wholly owned subsidiary of HomeServices of America, Inc. since 2003 – the country’s largest residential real estate company for transactions and parent to Berkshire Hathaway HomeServices.

Berkshire Hathaway HomeServices is among America’s fastest-growing real estate brokerage networks with nearly 50,000 agents and 1,500 offices joining the network in less than six years, including global network members in Berlin, Germany; London, England; Milan, Italy; and Dubai, United Arab Emirates.

“EWM Realty is at the heart of Miami’s luxury real estate market and its reputation for serving this market is unequaled,” said Ron Peltier, executive chairman of HomeServices of America. “Joining the Berkshire Hathaway HomeServices network, recognized for its luxury focus and expertise and now its global connections, represents a truly unique opportunity for the brokerage, its associates and its buyers and sellers. EWM has been a valuable member of the HomeServices family for 16 years and we look forward to the company’s continued growth and success as Berkshire Hathaway HomeServices EWM Realty.”

Gino Blefari, CEO of HomeServices of America and chairman of Berkshire Hathaway HomeServices, welcomed EWM Realty to the brand. “Ron Shuffield and his team are highly respected across South Florida and their presence as a luxury leader will benefit our network,” Blefari said. “We are proud to welcome their brokerage and eager to help it grow.”

Shuffield said he and his team look forward to a new era of growth. “As a proud member of the HomeServices of America family, we are excited to join the Berkshire Hathaway HomeServices network,” said Shuffield. “The brand has a strong presence in Florida with other fine brokerages throughout the state. In addition, we believe the Berkshire Hathaway HomeServices brand is wonderfully suited for the luxury, resort and second-home markets we serve.”

EWM Realty gains access to Berkshire Hathaway HomeServices’ active referral and relocation networks, and its “FOREVER Cloud” technology suite, a powerful source for lead generation, marketing support, social media, video production/distribution and more. The brand also provides global listing syndication, professional training and ongoing education and the exclusive Luxury Collection marketing program for premier listings. Its Prestige Magazine showcases network members’ premium listings with a strong lineup of feature stories covering topics that appeal to high-end real estate consumers.

“South Florida is a global hub for business, travel and real estate investment,” Shuffield said. “We are eager to connect our brokerage with even more luxury clients from the northeast, Atlantic seaboard as well as from Europe and Dubai, where the brand is quickly growing. We believe that Berkshire Hathaway HomeServices EWM Realty will be a compelling option for those buying and selling luxury property.”

Shuffield said the same message applies to South Florida’s luxury real estate professionals. “We want to grow our brokerage by adding more of the region’s skilled and seasoned luxury agents,” he explained. “Berkshire Hathaway HomeServices EWM Realty will stand as the symbol for high-end real estate in our region and the company at which top agents may expand their businesses.”

© 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
Commentary Minority Stock Positions Stock Portfolio Warren Buffett

Commentary: Has the Time Finally Come for Berkshire to Cash Out of Axalta?

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Has the time finally come for Berkshire Hathaway to cash out of its minority position in Axalta?

Back in 2015, Berkshire Hathaway acquired roughly 10% minority stake in Axalta Coating Systems from The Carlyle Group for $560 million, or $28.00 per share. Axalta is a leading global coatings provider for vehicles and industrial applications.

Since that time it’s watched its investment flounder, as the Philadelphia-based Axalta fought off being acquired by PPG, and spurned another potential merger with Dutch coatings company Akzo Nobel.

Nippon Paint was another company that was interested in Axalta, only to have the company reject a $9.1 billion all-cash bid that it made near the end of 2017.

2017 was also a year of internal turmoil for the company. Axalta parted ways with its newly hired CEO, Terrence Hahn, after only five weeks on the job. The dismissal came after an internal investigation turned up conduct that Axalta “believes was inconsistent with company policies.”

Chief financial officer Robert Bryant took over as CEO and remains in that position today.

Apparently, Axalta was a company unwilling to be taken over by anyone.

Now, Axalta finally seems ready to enhance shareholder value, and a takeover has become more likely.

“Axalta’s Board is committed to maximizing value for all shareholders and has initiated a comprehensive review of strategic alternatives, including a potential sale of the Company, changes in capital allocation, and ongoing execution of our strategic plan,” according to Axalta director Mark Garrett.

With a sale of the company finally on its board’s agenda, could this be the time for Buffett to finally get something for his investment?

Nippon Paint, PPG, and Akzo Nobel are all among the potential players, and the market has quickly recognized that this time may finally be different for Axalta.

Axalta (AXTA) closed on Friday at $29.99, making Berkshire’s stake worth $727,677,360. And it’s now trading above its 52-week high of $30.94 in Friday’s after-hours trading.

Hopefully there’s more good news to come.

Finally.

© 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.