Money and Finance
- Berkshire Beyond Buffett: The Enduring Value Of Values (chapter 8)
(The following is an excerpt from Chapter 8, Autonomy, from Lawrence Cunningham’s upcoming book, Berkshire Beyond Buffett: The Enduring Value of Values; the full text of the chapter, which considers the case for Berkshire’s distinctive trust-based...
- At Sears, Eddie Lampert's Warring Divisions Model Adds To The Troubles
Every year the presidents of Sears Holdings’ (SHLD) many business units trudge across the company’s sprawling headquarters in Hoffman Estates, Ill., to a conference room in Building B, where they ask Eddie Lampert for money. The leaders have made...
- 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....
- Footnoted: Too Early For Worst Footnote Of 2013? (apollo Group - Apol)
So imagine our surprise when we read yesterday’s filing to find out that John Sperling, the company’s outgoing Executive Chairman, a title he has held for the past decade and whose duties he has been paid $850,000 a year to perform, would be retiring...
- Drywall Maker In Pain As Housing Suffers
When a business is trading at a lower price than several proven value investors (including Mr. Buffett) last bought shares, it is usually a good place to start your research. USG is such a company and the NY Times recently wrote an short article about...
Money and Finance
Priceline's Longtime CEO Hands Over Reins
Thanks to Matt for passing this along. I guess it's one to add to the 100 to 1 in the stock market list.
Priceline.com Inc. replaced its longtime chief executive with the boss of its most profitable hotel-booking unit, ending an 11-year tenure that oversaw one of the most dramatic turnarounds of the past decade.
Chief Executive Jeffery Boyd, 56 years old, said he would hand the reins of the online travel company to Darren Huston, 47, a former Microsoft Corp. executive who has been running its Booking B.V. unit since 2011. Mr. Boyd will remain chairman of the company.
The executive transition comes just weeks after Priceline's share price exceeded the $1,000 mark—a redemption after the company's spectacular collapse as the dot-com bubble burst when its share price fell to single digits, the company laid off staff and questions emerged about its future.
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And the part of the article that is very much in line with the CEOs profiled in the book The Outsiders:
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And the part of the article that is very much in line with the CEOs profiled in the book The Outsiders:
Travel-industry observers credit the company's hands-off management style for its successful acquisitions. In a business that depends heavily on brand loyalty—websites spend billions of dollars a year to get travelers to visit their portal first—Priceline has kept names like Agoda.com, Booking.com, Kayak and Rentalcars.com under relatively independent leaders.
"Great autonomy has been given to the general managers and CEOs of the respective businesses," said Sequoia Capital Chairman Michael Moritz, a well-known venture capitalist who invested early in travel brands including ITA Software, Kayak, Skyscanner and Google. "They have allowed those businesses to run for a large part as their managers see fit."
- Berkshire Beyond Buffett: The Enduring Value Of Values (chapter 8)
(The following is an excerpt from Chapter 8, Autonomy, from Lawrence Cunningham’s upcoming book, Berkshire Beyond Buffett: The Enduring Value of Values; the full text of the chapter, which considers the case for Berkshire’s distinctive trust-based...
- At Sears, Eddie Lampert's Warring Divisions Model Adds To The Troubles
Every year the presidents of Sears Holdings’ (SHLD) many business units trudge across the company’s sprawling headquarters in Hoffman Estates, Ill., to a conference room in Building B, where they ask Eddie Lampert for money. The leaders have made...
- 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....
- Footnoted: Too Early For Worst Footnote Of 2013? (apollo Group - Apol)
So imagine our surprise when we read yesterday’s filing to find out that John Sperling, the company’s outgoing Executive Chairman, a title he has held for the past decade and whose duties he has been paid $850,000 a year to perform, would be retiring...
- Drywall Maker In Pain As Housing Suffers
When a business is trading at a lower price than several proven value investors (including Mr. Buffett) last bought shares, it is usually a good place to start your research. USG is such a company and the NY Times recently wrote an short article about...