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...Buffett’s sprawling conglomerate, which owns the BNSF railroad and Geico insurer, first invested in the iPhone maker in 2016 at the direction of one of his two investment deputies: Todd Combs and Ted Weschler...
...In 1894, Pullman workers went on strike after George Pullman cut wages, igniting a boycott that affected much of the US railroad network....
...There were, he said, few deals that offered the kind of transformative impact past takeovers have had, such as its purchases of insurers Geico and National Indemnity or the BNSF railroad....
...National Indemnity or the BNSF railroad....
...In 2023, the prefectural government launched a co-operative effort that involved four mobility start-ups, the Toyota-affiliated company Jtekt and Nagoya Railroad....
...The “Oracle of Omaha”, whose sprawling railroad-to-confectioner conglomerate is now worth $780bn, has enticed investors despite a quarter that revealed the negative effects of the cooling US economy on some...
...But investors said they would be closely scrutinising Buffett’s annual letter next February for any indications that change is afoot at the conglomerate, which counts insurer Geico and the BNSF railroad...
...The company’s operating businesses, which span the BNSF railroad, Geico insurer and aircraft parts maker Precision Castparts, reported a 41 per cent rise in profits to $10.8bn....
...The sprawling conglomerate is now worth more than $780bn, with stakes in Apple, Coca-Cola and Bank of America as well as ownership of the BNSF railroad and Geico insurer....
...The sprawling conglomerate — which owns the BNSF railroad and Geico insurer — increased the holdings by nearly $17bn in the second quarter, to sit just below an all-time high of $149bn set in 2021....
...railroad....
...But this year, Abel — heir apparent to lead the $710bn conglomerate that includes the BNSF railroad, private jet operator NetJets and insurer Geico, as well as the other public and private groups Berkshire...
...Its annual report also showed Berkshire increased capital expenditures at both its energy and railroad units....
...The purchase of the railroad operator will enable Canadian Pacific to launch the first rail network spanning Canada, the US and Mexico....
...Revenues at its BNSF railroad surged 17 per cent to $6.5bn, but profits slid as the volumes of freight it shipped declined and it paid higher wages to its employees....
...It is also the latest shift by the conglomerate, which spans the Geico insurer, BNSF railroad and Dairy Queen ice cream purveyor, into blue-chip technology companies....
...The moves amount to the biggest sign yet of investor disquiet over governance at Buffett’s sprawling conglomerate, whose holdings include the insurer Geico, the BNSF railroad and electric utilities across...
...Warren Buffett’s Berkshire Hathaway dramatically slowed new investment in the second quarter after setting a blistering pace at the start of the year, as the US stock market sell-off pushed the insurance-to-railroad...
...Buffett’s successors could even start a hedge fund to invest “float” gains and charge shareholders “2 and 20” management and performance fees so as to avoid the hassle of owning railroads and random manufacturers...
...The results showed the company’s railroad, utilities and manufacturing businesses reporting stronger profits in the quarter, compared to year ago levels....
...Perhaps, but in 2021, Berkshire’s railroad, power utilities and energy business generated $9.5bn in operating profits, twice what was allocated to insurance-investment income....
...Some shareholders said they were disappointed by the answers Abel offered to the questions directed his way, including over why the performance of Burlington Northern Railroad, which he oversees, had lagged...
...The company reported earlier on Saturday that its operating earnings were little changed from the previous year, with strength from its BNSF railroad and manufacturing units offsetting a sharp drop in profitability...
...Berkshire has roughly double the exposure to energy and utilities that the S&P has. Its railroad business (perhaps 15 per cent of the company’s value) is a pseudo-monopoly with terrific pricing power....
...That has played directly to Berkshire, which has an empire ranging from the BNSF railroad, to insurer Geico and metalworking subsidiary Iscar, as well as a $351bn stock portfolio, with multibillion-dollar...
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