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Berkshire Hathaway HomeServices

Spain’s LARVIA Joins Berkshire Hathaway HomeServices Real Estate Brokerage Franchise Network

(BRK.A), (BRK.B)

LARVIA, one of Spain’s leading estate agencies with ties to Spain’s construction and development dating back 55 years, today begins operations as a member of the Berkshire Hathaway HomeServices real estate brokerage franchise network.

The company, with offices in Madrid and Barcelona, goes forward as Berkshire Hathaway HomeServices LARVIA.

“We are excited to begin the next chapter at our company as a member of the Berkshire Hathaway HomeServices network,” said CEO Bruno Rabassa. “Our brand carries the name of Berkshire Hathaway, one of the world’s most respected companies. We’re proud to represent Berkshire Hathaway HomeServices in Spain, and continue growing the company on our foundation of top-quality service and market expertise.”

LARVIA is part of the family-owned Petrus Grupo Inmobiliario, which develops, restores, leases and manages property in the region. LARVIA specializes in luxury real estate, among other sectors.

“Spain has been a top priority for our network’s global expansion, and we couldn’t be happier to enter the market with a company such as LARVIA,” said Gino Blefari, chairman of Berkshire Hathaway HomeServices. “Bruno Rabassa is a terrific operator respected throughout the Spanish real estate and business communities, and LARVIA is known throughout the region for its top-rate service and skilled agents. The company is poised to grow, and we will support LARVIA at every step.”

LARVIA joins a brokerage network that has grown to more than 50,000 agents and 1,500 offices throughout the U.S., Western Europe and Dubai in just six years of existence. Berkshire Hathaway HomeServices produced USD114.5 billion in real estate sales volume in 2018.

LARVIA will benefit from client referrals and relocation business generated through the network, Blefari said. Its agents also gain access to Berkshire Hathaway HomeServices’ “FOREVER Cloud” technology suite powered by Salesforce, including lead generation, marketing support, social media content, video production/distribution support and more.

In addition, the brand provides global listing syndication, professional training and the exclusive Luxury Collection marketing program for premier listings.

Rabassa said he wants to double the size of his business in Madrid and Barcelona during the next year, and then expand to other key regions of the country.

“Berkshire Hathaway HomeServices LARVIA is the most compelling choice for luxury and all other real estate services,” Rabassa said. “Estate agents who want to grow their business with a highly respected brand and well-established Spanish agency should consider Berkshire Hathaway HomeServices LARVIA.”

© 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

Berkshire Hathaway HomeServices Expands Into Portugal

(BRK.A), (BRK.B)

Berkshire Hathaway HomeServices, one of the world’s fastest-growing real estate brokerage franchise networks, is expanding into Portugal through an agreement with Portugal Property.

The agency will operate as Berkshire Hathaway HomeServices Portugal Property.

Portugal Property, founded in 2008 by CEO Michael Vincent, is Portugal’s largest independent real estate brokerage as measured by real estate sales volume and office count. The brokerage sets local standards for client service and expertise, and for the last eight years has won prestigious European Property Awards for Best Real Estate Agency in Portugal and Best Real Estate Agency Website in Portugal.

“Portugal was an essential target of ours from the outset of our global expansion,” said Gino Blefari, chairman of Berkshire Hathaway HomeServices. “The Portuguese economy has responded nicely from the global downturn and its real estate market is vibrant and growing. We’re elated to enter Portugal with the country’s finest brokerage, Portugal Property, which has ambitious growth plans to serve significantly more local and global clients.”

Portugal Property operates seven offices in Lisbon, Porto and along the Algarve, Portugal’s southern coast. The brokerage and its 43 agents generated nearly USD100 million in real estate sales volume in 2018. The Berkshire Hathaway HomeServices network produced USD114.5 billion in sales volume last year.

“We are proud to bring the Berkshire Hathaway HomeServices brand to Portugal,” said Vincent. “The brand carries the name of Berkshire Hathaway, one of the world’s most respected, trusted and admired companies. As important, the brand is composed of strong brokerages across America, Europe and Dubai, and we anticipate exchanging client referral with these companies.”

Vincent said the Berkshire Hathaway HomeServices brand will be a beacon for burgeoning global clientele and Portuguese consumers seeking top-rate expertise and guidance. “We have firmly established Portugal Property and now we add an exciting and respected global brand name with abundant resources. We are so excited for the future, which starts today.”

Portugal Property gains access to Berkshire Hathaway HomeServices’ “FOREVER Cloud” technology suite, a powerful source for lead generation, marketing support, social media, video production/distribution and more.

Berkshire Hathaway HomeServices has aligned with Salesforce to deliver world-class technology support to its network members far into the future. The brand also provides global listing syndication, relocation referrals, professional training and the exclusive Luxury Collection marketing program for premier listings. Its Prestige Magazine showcases network members’ premium listings with a compelling lineup of feature stories covering topics that appeal to high-end real estate consumers.

Vincent plans to double the size of his brokerage over the next five years. “We believe the Berkshire Hathaway HomeServices brand will help us gain access to new, upscale markets and more of the world’s affluent real estate investors who are increasingly attracted to our wonderful country,” he said. “All of these factors have come together at once for our brokerage and we’re eager to take our business to new levels.”

Chris Stuart, CEO of Berkshire Hathaway HomeServices, applauded Portugal Property’s brand membership. “Michael Vincent brings to our network two decades of experience in Portuguese real estate and a strong team of agents and employees,” he said. “We are proud to welcome the group and look forward to helping the brokerage grow into one of Europe’s finest agencies.”

© 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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Berkadia

Berkadia Adds Tax Credit Syndication and Advisory Platform

(BRK.A), (BRK.B)

Berkadia, Berkshire Hathaway’s joint venture with Jefferies Financial Group, has expanded its affordable housing capabilities with the addition of a tax credit syndication and advisory platform.

This team of specialized experts comes from Riverside Capital, in which Berkadia invested in 2018. The integration will offer clients access to the already robust Berkadia Affordable Housing team and add tax credit syndication services, advancing the goal of offering developer clients access to seamlessly integrated solutions for all of their affordable housing capital needs.

“This expansion not only gives Berkadia the opportunity to cement our position as a leader in the affordable housing space, but it allows us to dig even deeper and better serve a specialized niche of developers and investors who are working diligently to meet the need of additional affordable housing units across the country,” said Berkadia CEO Justin Wheeler. “Riverside has a solid record of success in providing capital solutions to the affordable housing industry’s leading development companies, so this additional capability will benefit Berkadia and Riverside customers alike, particularly as we pursue an aggressive growth strategy in the affordable housing market.”

Since the collaboration with Riverside began in 2018, Berkadia has expanded its capabilities in the affordable space with the strategic hiring of mortgage bankers and investment sales advisors across the country, in addition to tax credit equity placement through Riverside as well as conventional joint venture equity solutions.

“According to NLIHC’s April report, there are 11 million extremely low-income renter households and only 4 million affordable and available units, leaving a shortage of 7 million units,” stated Sebastian Corradino, former Riverside President and CEO and current Senior Managing Director on the Berkadia Affordable Housing team. “As Berkadia, we will continue to partner with investors and developers to reduce the affordable housing gap, fulfilling the business objective to do well with the social imperative to do good. Our entire team is incredibly excited to now be part of the Berkadia Affordable Housing platform.”

“The former Riverside acquisitions, investor relations and asset management teams will continue to provide the exceptional, personalized level of service our clients expect while also giving them access to new opportunities the Berkadia network offers,” said Corradino.

In 2018, Berkadia’s loan origination volume surpassed $26 billion while its investment sales platform totaled over $8 billion.

About Berkadia

Founded in 2009 as a 50/50 joint venture between Berkshire Hathaway and Leucadia National Corporation (now known as Jefferies Financial Group), 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.

© 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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Pampered Chef

Pampered Chef Adds New Food Product Line Called Enrichables

(BRK.A), (BRK.B)

For the first time in its nearly 40-year history, Berkshire Hathaway’s kitchenware brand Pampered Chef is entering a new product category with the launch of a product line called Enrichables.

Pampered Chef will make it easier than ever for consumers to add nutrients to everyday meals, from pasta to batters to soups and so much more.

The new Enrichables line is launching with two nutrient-dense products — Kale & Fiber and Pea Protein — add one Enrichables packet to your favorite recipe to make your dishes more nutritious.

• Enrichables Kale & Fiber – Each packet includes 2 cups of freeze-dried kale. Kale contains minerals, antioxidants and vitamins A, C and K. Each packet also provides 8 grams of fiber from chicory root. Consuming adequate amounts of fiber daily can help promote fullness and digestive heath. Enrichables Kale & Fiber is the perfect meal enhancement for foods low in vegetables and fiber, such as ground meat, egg dishes and sauces.

• Enrichables Pea Protein – Each packet contains 100% high-quality plant protein made from yellow peas, which provides a clean, low-calorie form of protein. One packet includes 10 grams of protein. Consuming adequate amounts of protein daily can promote fullness, energy, and help maintain muscle function and mobility. This meal booster is ideal for low-protein foods such as baked goods, sauces and carb-based dishes.

“Vegetables are essential to our diets, but most people don’t even come close to getting the recommended amount due to the time and effort required,” said Sandy Wolner, RDN, Food and Trend Innovator for Pampered Chef. “The ingredients in Enrichables Kale & Fiber help add more vegetables to family-favorite meals, which can promote digestive health and add nutrients. The ingredients in Enrichables Pea Protein help you get more protein into your diet throughout your day.”

From incorporating veggies to a picky eater’s mac and cheese or protein to a breakfast smoothie, one Enrichables packet makes it easy to add Kale & Fiber or Pea Protein to any family’s favorite dishes. Enrichables are vegan, non-GMO, gluten-free, dairy-free, soy-free and contain no added fillers or flavors, making them nearly undetectable, no matter the dish.

“We want to make it easier for consumers to reach their nutritional health goals, and that’s where Enrichables comes in,” said Kristin Hayward, Director of Brand Strategy for Pampered Chef. “Enrichables isn’t just a traditional boost for smoothies, it can be incorporated into almost any regular meal to make nutrition more approachable for the everyday cook.”

© 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
BNSF

BNSF & YRC Freight Increase Intermodal Commerce

(BRK.A), (BRK.B)

YRC Freight has announced that by the end of this year YRC and BNSF Railway Company (BNSF) will have onboarded more than 600 branded intermodal containers. These new containers are part of the YRC commitment to acquire 1,000 branded intermodal containers by the end of 2020. Most of the containers will travel between Chicago and Southern California on BNSF’s network.

“At YRC Freight, our intermodal commerce with BNSF is evolving. We are reinforcing our commitment to YRC Freight-branded containerized units for the present and the future. As intermodal usage continues to shift to containerized transport, YRC Freight will already be there,” confirms YRC Worldwide Chief Operating Officer and YRC Freight President T.J. O’Connor.

Intermodal operations between truck and rail are a valuable emissions reduction strategy in the central and western United States to move trailers/containers over long distances. YRC Freight deploys a number of strategies to reduce its carbon footprint including its work with BNSF, use of longer combination vehicles, onboarding of new tractors with advanced emission reduction technologies and integration of industry-leading routing and load optimization software. Recently, YRC Freight renewed its annual certification with the award-winning EPA SmartWay voluntary emissions program.

“Operationally, all intermodal companies are looking at how to improve efficiency,” said YRC Freight Senior Vice President, Operations, Maynard Skarka. “Currently, we use smaller trailers called ‘pups’ to transport freight for our customers. This new shift to our branded containerized units will allow us to stay aligned with intermodal companies as we both look for operational efficiencies.”

BNSF remains focused on working with its customers to develop the best supply chain solutions for the movement of containers and trailers across its rail network. Its collaboration with YRC is great example of how it is doing that.

“At BNSF we are always looking at how we can create more efficiencies and greater capacity on our network, particularly in markets like the Inland Empire where containerization will help us leverage capacity to grow with increasing demand over time,” said BNSF Vice President, Domestic Intermodal, Todd Carter. “We will continue to work with our customers to transport both containers and trailers and will make adjustments that make sense to our overall logistics strategy with an eye toward meeting our customers’ expectations and fostering our mutual ability to grow.

© 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
Business Wire

Women in PR North America Launches Corporate Partnership with Business Wire

(BRK.A), (BRK.B)

The Organization of Canadian Women in Public Relations (Women in PR Canada) and the Organization of American Women in Public Relations (Women in PR USA) have announced Berkshire Hathaway’s Business Wire as a corporate partner with Women in PR North America.

With Business Wire’s support, Women in PR North America can continue to expand its professional development, networking, and educational content programs for women in public relations.

“Business Wire’s support is vital to continuing to scale our programs and provide new opportunities and services to our members,” said Talia Beckett-Davis, President of Women in PR North America. “They continue to demonstrate their commitment to developing leadership opportunities for women in the public relations and communications field.”

Business Wire’s corporate partnership will help Women in PR North America continue to be an important source of information for women in the field, a key player in the rapidly changing industry, and a global champion of women business leaders.

“We believe in supporting organizations that contribute to advancing the field of public and investor relations,” said Geff Scott, Chief Executive Officer of Business Wire. “Women in PR North America is an important organization that creates opportunity for women to develop their leadership skills and visibility.”

© 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
Dairy Queen

Dairy Queen Has Cool New Headquarters

(BRK.A), (BRK.B)

That most iconic of American brands, Dairy Queen, now has a modern new headquarters.

Berkshire Hathaway’s International Dairy Queen, Inc. has relocated its headquarters to 53,000 square feet in the Normandale Lakes Office Park, 8000 Normandale Blvd., Bloomington, Minnesota.

The new workplace connects multiple floors with unique collaborative spaces and state-of-the-art technology, all reflecting the energy of the DQ® brand and its forward-looking vision. Modern personal workspaces together with creative meeting/social spaces and a new test kitchen and product lab all foster flexibility and help spark innovation and collaboration. Improved daylighting and views, ergonomic adjustability and custom artwork celebrate the iconic brand’s mission of creating positive memories for all who touch DQ.

“Our new headquarters reflects the joy of the DQ brand and the passion of its fans and employees around the world,” said IDQ President and CEO Troy Bader. “Along with our international and field teams, our nearly 250 U.S. franchisee support center employees work hard every day to support franchisees and grow the DQ brand. We believe it is important to give our employees the tools they need to be successful, and that starts with providing an incredible work environment and the opportunity to develop their careers and have an impact on this iconic brand. We are proud to be an employer of choice in the Twin Cities.”

The new DQ headquarters was designed by HGA Architects & Engineers of Minneapolis.

New IDQ Headquarters at a Glance:

Employees: 250

Square Footage: 53,000 sq. ft.

Address:
8331 Norman Center Drive
8000 Tower, Suite 700
Bloomington, MN 55437

Just off of highway 100 in the Normandale Lakes Office Park, adjacent to the 2,500-acre Normandale Lake Recreational Area.

Pictures of the new headquarters can be seen at Minneapolis/St. Paul Business Journal’s Cool Offices.

© 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
Lubrizol

Black Smoke Fills Sky as Firefighters Battle Blaze at French Lubrizol Plant

(BRK.A), (BRK.B)

Over 130 firefighters battled a blaze at a Berkshire Hathaway-owned Lubrizol plant in Rouen, Normandy, France.

The chemical plant was fully engulfed in flames and is expected to take days to fully extinguish. Nearby residents were sheltering in place and local schools were closed. There is concern that the nearby Seine river could be polluted.

The plant was founded in 1954, and manufactures and packages additives for lubricants and paint.

No casualties have been reported and the cause of the blaze has yet to be determined.

© 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
Mouser Electronics

Mouser Electronics and Transphorm Sign Global Distribution Agreement

(BRK.A), (BRK.B)

Transphorm Inc.—the leader in the design and manufacturing of the highest reliability high-voltage (HV) Gallium Nitride (GaN) semiconductors—has signed a global distribution agreement with Berkshire Hathaway’s Mouser Electronics, Inc., the authorized global distributor with the newest semiconductors and electronic components. Per the agreement, Mouser will distribute Transphorm’s JEDEC- and AEC-Q101-qualified GaN FETs and evaluation tools.

Mouser now offers devices from Transphorm’s 900 V TO-220 and 650 V TO-247 and TO-220 GaN FETs. The devices feature low crossover losses, reduced gate charge, and smaller reverse recovery charge, offering similar field reliability to silicon carbide (SiC) FETs and improved performance when compared to silicon MOSFETs. Compared to competitive GaN transistors, Transphorm’s FETs also offer the industry’s highest threshold voltage at 4 V and gate robustness rating at ±20 V.

Also available are Transphorm’s automotive-qualified GaN FETs including the TPH3205WSBQA, the industry’s first GaN solution to earn AEC-Q101 qualification, and the TP65H035WSQA, the industry’s first 175-degree-Celsius-rated AEC-Q101-qualified device. As with non-automotive applications, in-vehicle power systems using the 650 V GaN FETs can gain up to 40 percent more power density while reducing overall system costs by as much as 20 percent when compared to similar silicon-based solutions.

Lastly, Mouser stocks Transphorm’s evaluation platforms, allowing designers to study switching characteristics and efficiency. The kits support various power system topologies, including inverters, half-bridge buck or boost (through-hole and SMD solutions), and the bridgeless totem-pole PFC. They also cover a range of power ratings. Examples include the 1.2 kW and 2.5 kW half-bridge evaluation platforms as well as the 2.5 kW and 4 kW bridgeless totem-pole PFC evaluation platforms.

© 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 Energy

Berkshire Hathaway Energy Addresses Proposed PURPA Rulemaking

(BRK.A), (BRK.B)

The Federal Energy Regulatory Commission last week voted to issue a notice of proposed rulemaking to revisit its rules and regulations implementing the Public Utility Regulatory Policies Act of 1978. In a release, Berkshire Hathaway Energy has stated that it supports the proposed rulemaking to modernize PURPA, as policy revisions will allow the company to provide additional value to its customers.

“We appreciate Chairman Chatterjee’s leadership and the thoughtful efforts of FERC and its staff in issuing this proposal,” said Pat Reiten, Berkshire Hathaway Energy senior vice president of government relations. “We look forward to reviewing the proposed rule and working with FERC and our state commissions to provide cost-effective, renewable resources to our customers.”

Berkshire Hathaway Energy notes that since PURPA was enacted, the energy industry has drastically changed, and PURPA’s regulations have led to unintended consequences resulting in above-market prices for certain energy contracts. As Berkshire Hathaway Energy acquires increasing amounts of renewable generation, the proposed reforms will provide greater opportunities to ensure customers receive the best energy prices.

© 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.