Money and Finance
- The Wrath Of Warren Buffett: How Benjamin Moore Almost Broke His Promise
Link to: The wrath of Warren Buffett: How Benjamin Moore almost broke his promise Turmoil roiled Benjamin Moore, a paint company owned by Berkshire Hathaway, after it decided to break a pledge Warren Buffett made to Moore’s dealers. How did it...
- Berkshire Billionaire Found With More Shares Than Gates
Thanks to Matt for passing this along. Stewart Horejsi’s business was in a funk. It was 1980, and Brown Welding Supply LLC, his family’s third-generation distributor of hydrogen and oxygen tanks, was battling competitors that were intent on expanding...
- Buffett Deputies Join Heinz Board As Lynnn Swann Departs
Thanks to Will for passing this along. Gregory Abel and Tracy Britt, two of Warren Buffett’s deputies who have been adding responsibilities at Berkshire Hathaway Inc. (BRK/A), were selected by the billionaire to join him as directors of HJ Heinz Co....
- A Rising Star Emerges At Berkshire
When Tracy Britt arrived in Omaha, Neb., in 2009 to meet with Warren Buffett, she brought a Harvard M.B.A., a glittering resume and a boatload of ambition. But she also brought the famed investor a gift to highlight their shared Midwestern roots: a bushel...
- Weschler Rise From Grace Leads To Role Advising Buffett
Ted Weschler’s first job after college was at chemical maker W.R. Grace & Co. (GRA) In 2007, six years after the company filed for bankruptcy, his hedge fund held 15 percent of the shares. That’s when he called Joe Rice. Rice, a South Carolina...
Money and Finance
Buffett Leans on 29-Year-Old Cool to Oversee Problems
Thanks to Matt for passing this along.
When Warren Buffett bought half of a commercial mortgage finance company in 2009, he hired a 25-year-old fresh out of business school to keep tabs on the investment.
Since then, Berkadia Commercial Mortgage LLC has earned back most of the $217 million that his Berkshire Hathaway Inc. spent on the deal. The business also helped propel Tracy Britt Cool’s career.
Now 29, Cool is one of Buffett’s most-trusted advisers, traveling the country to assist a constellation of companies too small to command her boss’s direct attention. The billionaire said his confidence in Cool is one reason he agreed to buy party-supply seller Oriental Trading. In 2012, she was named chairman of that business and three other units, including paint company Benjamin Moore. The subsidiaries have combined sales exceeding $4 billion and more than 10,000 workers.
“There are companies that I’ve never been there, and we’ve owned them a lot of years,” Buffett said in a telephone interview. “Tracy is available to work on things that I probably should work on, but either am too busy or too lazy.” He added: “She thinks like I would.”
- The Wrath Of Warren Buffett: How Benjamin Moore Almost Broke His Promise
Link to: The wrath of Warren Buffett: How Benjamin Moore almost broke his promise Turmoil roiled Benjamin Moore, a paint company owned by Berkshire Hathaway, after it decided to break a pledge Warren Buffett made to Moore’s dealers. How did it...
- Berkshire Billionaire Found With More Shares Than Gates
Thanks to Matt for passing this along. Stewart Horejsi’s business was in a funk. It was 1980, and Brown Welding Supply LLC, his family’s third-generation distributor of hydrogen and oxygen tanks, was battling competitors that were intent on expanding...
- Buffett Deputies Join Heinz Board As Lynnn Swann Departs
Thanks to Will for passing this along. Gregory Abel and Tracy Britt, two of Warren Buffett’s deputies who have been adding responsibilities at Berkshire Hathaway Inc. (BRK/A), were selected by the billionaire to join him as directors of HJ Heinz Co....
- A Rising Star Emerges At Berkshire
When Tracy Britt arrived in Omaha, Neb., in 2009 to meet with Warren Buffett, she brought a Harvard M.B.A., a glittering resume and a boatload of ambition. But she also brought the famed investor a gift to highlight their shared Midwestern roots: a bushel...
- Weschler Rise From Grace Leads To Role Advising Buffett
Ted Weschler’s first job after college was at chemical maker W.R. Grace & Co. (GRA) In 2007, six years after the company filed for bankruptcy, his hedge fund held 15 percent of the shares. That’s when he called Joe Rice. Rice, a South Carolina...