Money and Finance
- Warren Buffett Looks Ahead To Berkshire’s Next 50 Years
Link to article: Warren Buffett Looks Ahead to Berkshire’s Next 50 Years Warren Buffett says that lately he’s been pondering the future of Berkshire Hathaway Inc. more than usual. Like in years past, he has been busy composing his annual letter to...
- Berkshire Beyond Buffett: The Enduring Value Of Values - By Lawrence A. Cunningham
Larry Cunningham, author and editor of The Essays of Warren Buffett, is coming out with a new book later this year, which will hopefully be read by a few of the media that continually ask the same succession plan questions over and over again. Link to...
- 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...
- David Winters: Annual Letter To Investors
Found via GuruFocus. I am a success today because I had a friend who believed in me and I didn’t have the heart to let him down. -Abraham Lincoln Perhaps no company is more closely associated with its CEO than Berkshire Hathaway. When people think of...
- Buffett Reveals Warts As He Prepares Annual Letter
Warren Buffett bought oil stocks near the peak of an energy boom, declined to spend $35 million on a growing television station and swapped a Berkshire Hathaway Inc. (BRK/A) stake for a shoe company he later said was worthless. In each case, shareholders...
Money and Finance
CEOs to Face Berkshire-Loyalty Test
Although it isn’t unprecedented for Mr. Buffett to replace top executives, they typically leave only when they retire. Mr. Buffett, who declined to comment, has said that no manager of a significant Berkshire business has left voluntarily to join a competitor.
There has been more churn than usual at the subsidiaries lately. Last week, paint company Benjamin Moore named retail-industry veteran Michael Searles as CEO, the third person to occupy the post in two years.
Jewelry retailer Borsheims also named a new CEO last week after Susan Jacques, who had led the company since 1994, left for the top position at the Gemological Institute of America, a nonprofit.
“He’s got very good people running the companies, and several down the line,” said Cliff Gallant, an analyst with Nomura. But “retention is a risk factor. When he moves on, I’m concerned that some of them will move on.”
At a May gathering of Berkshire CEOs with Mr. Buffett ahead of the company’s annual meeting, some managers asked him what their responsibility was after he was no longer at the company, according to people present.
Mr. Buffett encouraged them to preserve Berkshire’s culture of autonomy, one person said.
People familiar with Mr. Buffett’s thinking said the investor believes that Berkshire managers are loyal to the company and not to him personally. Still, he has acknowledged that despite his efforts to preserve Berkshire’s culture for the future, things will change.
- Warren Buffett Looks Ahead To Berkshire’s Next 50 Years
Link to article: Warren Buffett Looks Ahead to Berkshire’s Next 50 Years Warren Buffett says that lately he’s been pondering the future of Berkshire Hathaway Inc. more than usual. Like in years past, he has been busy composing his annual letter to...
- Berkshire Beyond Buffett: The Enduring Value Of Values - By Lawrence A. Cunningham
Larry Cunningham, author and editor of The Essays of Warren Buffett, is coming out with a new book later this year, which will hopefully be read by a few of the media that continually ask the same succession plan questions over and over again. Link to...
- 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...
- David Winters: Annual Letter To Investors
Found via GuruFocus. I am a success today because I had a friend who believed in me and I didn’t have the heart to let him down. -Abraham Lincoln Perhaps no company is more closely associated with its CEO than Berkshire Hathaway. When people think of...
- Buffett Reveals Warts As He Prepares Annual Letter
Warren Buffett bought oil stocks near the peak of an energy boom, declined to spend $35 million on a growing television station and swapped a Berkshire Hathaway Inc. (BRK/A) stake for a shoe company he later said was worthless. In each case, shareholders...