(BRK.A), (BRK.B)
Pilot Flying J, the 14th largest private company in America, has added fee-based, reserved parking for truckers.
Noting that professional drivers deserve the comfort and convenience of knowing when and where they are able to park, Pilot Flying J is helping to ease the stress and concern of parking by offering Prime Parking at more than 390 locations nationwide, allowing their guests to reserve one of a limited number of parking spaces.
The cost for Prime Parking ranges from $12-$18 depending on the location.
In 2017, Berkshire Hathaway made a $2.76 billion investment in Pilot Travel Centers.
Under the terms of the agreement, the Haslam family will continue to own a majority of Pilot Flying J and Jimmy Haslam will remain as chief executive officer. Pilot Flying J President Ken Parent and the Company’s management team will also remain in place. The Company will continue to be headquartered in Knoxville, Tennessee.
Berkshire will become the majority owner in two more years.
© 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.