Author Topic: Buffett/Berkshire - general news  (Read 494604 times)

alpha asset strategies

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Re: Buffett/Berkshire - general news
« Reply #300 on: July 17, 2016, 04:06:02 PM »
Berkshire Hathaway Said to Be Among Leading Oncor Bidders

http://www.bloomberg.com/news/articles/2016-07-14/berkshire-hathaway-said-to-be-among-leading-bidders-for-oncor

Hasn't Buffett stated in the past that he doesn't participate in auctions?  Is this a new practice for him, or has he bought companies via auction in the past?  I personally can't recall any off the top of my head.


John Hjorth

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Re: Buffett/Berkshire - general news
« Reply #301 on: July 18, 2016, 12:32:12 AM »
Berkshire Hathaway Said to Be Among Leading Oncor Bidders

http://www.bloomberg.com/news/articles/2016-07-14/berkshire-hathaway-said-to-be-among-leading-bidders-for-oncor

Hasn't Buffett stated in the past that he doesn't participate in auctions?  Is this a new practice for him, or has he bought companies via auction in the past?  I personally can't recall any off the top of my head.

Yes it's mentioned in the aqusition criteria section of the shareholder letter every year.  Wasen't there a similar situation a few years back, where Ajit Jain on behalf of Berkshire Re placed a bid [one final bid] on a listed reinsurance company [Transocean Re or something like that was the name of the company, if I remember correctly].
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gfp

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Re: Buffett/Berkshire - general news
« Reply #302 on: July 18, 2016, 04:27:26 AM »
Jain bid on Transatlantic Re, but there may have been more to it than a simple auction bid.  He may have been doing a friend a favor to get another bidder to come up or block someone - I can't remember the specifics but Berkshire didn't buy the company.  Despite Berkshire's long stated "rule" that they don't participate in auctions, they absolutely do and this isn't new.  Most of the companies they purchased out of Bankruptcy and several negotiated takeovers that had other interested parties over the years.  Warren can define "auction" loosely and keep it in the "rules".  It primarily serves to remind sellers that Berkshire doesn't like to duke it out with others so don't try it or you risk us pulling our offer, as well as the standard "we don't want to bring in managers/founders who care so little about their baby that they would sell it to the highest bidder vs the best permanent home"

edit - Alleghany ended up winning TransRe, which Gen Re - now under Ajit's management - just signed a broker market cooperation deal with.  I do believe Ajit is close with TransRe management and Berk's bid was a sort of favor for a friend.  TransRe didn't want Validus to get the company for whatever reason.
« Last Edit: July 18, 2016, 05:09:48 AM by globalfinancepartners »

longinvestor

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scorpioncapital

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Re: Buffett/Berkshire - general news
« Reply #304 on: July 26, 2016, 04:46:27 PM »
http://www.utilitydive.com/news/buffetts-berkshire-hathaway-protests-ferc-market-based-rate-restrictions/423042/

Is this likely to have some effects on pricing power during inflation if Berkshire energy cannot charge market rates?

gfp

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Re: Buffett/Berkshire - general news
« Reply #305 on: August 03, 2016, 04:41:16 AM »
Bloomberg ran an article on Precision Castparts and CEO Donegan today ->

http://www.bloomberg.com/news/features/2016-08-03/buffett-s-bet-on-a-relentless-ceo

John Hjorth

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Re: Buffett/Berkshire - general news
« Reply #306 on: August 03, 2016, 05:53:11 AM »
Bloomberg ran an article on Precision Castparts and CEO Donegan today ->

http://www.bloomberg.com/news/features/2016-08-03/buffett-s-bet-on-a-relentless-ceo
Thanks for posting the link to this article, globalfinancepartners. I'm not trying to start some kind of heated discussion here about the content of the article, but I must say that I'm shocked by the picture painted of this Berkshire CEO at some places in the article.
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cubsfan

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Re: Buffett/Berkshire - general news
« Reply #307 on: August 03, 2016, 06:12:40 AM »
I spoke to one of the  managers at the Berkshire meeting. He rose through the ranks under Donegan.
Mark is widely admired by many, but he confirmed that working there is not for the faint of heart.
Performance culture is everything - so it's not for everybody, as it gets rough.

captkerosene

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Re: Buffett/Berkshire - general news
« Reply #308 on: August 03, 2016, 03:49:41 PM »
Nothing in that article bothered me. Let the guy be himself - he's earned it.

fareastwarriors

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Re: Buffett/Berkshire - general news
« Reply #309 on: August 03, 2016, 04:30:48 PM »
Nothing in that article bothered me. Let the guy be himself - he's earned it.


Probably similar to working at a  3G company