DIRS.INFO The most relevant business & tech news

☆ What Charlie Munger's death means for Warren Buffett and Berkshire Hathaway
▼ + stars: | 2023-11-28 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Charlie Munger, vice chair of Berkshire Hathaway and second-in-command to Warren Buffett, is dead at 99. With Munger's death, Greg Abel may have a closer working relationship with Buffett. AdvertisementCharlie Munger, also known as Warren Buffett's right-hand man, died Tuesday at 99 — leaving open the role of vice chair of Berkshire Hathaway. Munger served as the 93-year-old Buffett's second-in-command for years, amassing a net worth of nearly $2.3 billion while overseeing Berkshire Hathaway. He was named CEO of MidAmerican — now Berkshire Hathaway Energy — in 2008 and was named vice chairman of non-insurance operations for all of Berkshire Hathaway in 2018, securing himself a role on the conglomerate's board of directors that same year.

Persons: Charlie Munger, Berkshire Hathaway, Warren Buffett, Greg Abel, Buffett, Abel, —, Warren Buffett's, Munger, Greg, He's, Warren, CalEngery, MidAmerican, Pat Egan, Egan, Troy Bader, Bader Organizations: Service, Berkshire, Berkshire Hathaway Energy, doer, PricewaterhouseCoopers, Dairy Locations: Berkshire, Canadian, MidAmerican —, Omaha

☆ Warren Buffett's businesses are battling historic inflation, hefty interest rates, and tighter lending. 5 Berkshire Hathaway CEOs break down why they're thriving despite a brutal economic backdrop.
▼ + stars: | 2023-05-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +8 min

Warren Buffett's Berkshire Hathaway faces inflation, higher interest rates, and tighter credit. Its subsidiaries are also seeing signs that their customers, suppliers, and partners are being pinched by higher prices, steeper interest rates on their debts, and perhaps even reduced access to credit. "You just kind of have to take it," Egan said about some of the higher costs. Moreover, longstanding suppliers who refrained from passing on their higher costs to See's in 2021 have been forced to charge it more. The fast-food chain's franchisees face much higher costs for equipment, building materials, and construction work than they did a few years ago.

☆ Warren Buffett shelled out $6.5 billion to help Mars buy Wrigley during the financial crisis. Here's how he made the candy deal happen.
▼ + stars: | 2023-01-28 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +7 min

Warren Buffett spent $6.5 billion to help Mars acquire Wrigley during the financial crisis. "We fit very well as a partner for what the Mars family wanted to achieve in this purchase," Buffett told CNBC at the time. Buffett doubled his moneyNearly five years after the merger, Mars reached out to Buffett and asked to repurchase Berkshire's Wrigley debt early. Mars contacted Buffett again in 2016 as it wanted to buy him out and take full control of Wrigley. Buffett agreed to sell all of his Wrigley shares for about $4.6 billion in September 2016.

☆ Warren Buffett counts See's Candies among his most famous businesses. CEO Pat Egan explains how the chocolate maker is thriving despite pandemic disruptions and painful inflation.
▼ + stars: | 2022-12-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

See's CEO Pat Egan spoke to Insider in April 2022 about Berkshire, COVID-19, inflation, and growth. He touted the value of See's brand, its supplier ties, and its control of manufacturing and retail. Buffett has described See's as his "dream business" due to its beloved brand, modest capital needs, and stellar cash generation. It was "spared a lot of the pressures" that other manufacturers faced during the pandemic, Egan said. "Once you're a See's customer, you're kind of a See's customer for life," Egan said.

☆ Live updates: Berkshire Hathaway's annual meeting, earnings, stock price info and more
▼ + stars: | 2022-04-30 | by ( Paul R. La Monica | Cnn Business | ) edition.cnn.com time to read: +2 min

See's Candies President and CEO Pat Egan, speaks to Fox Business reporter Liz Claman about Warren Buffett's favorite See's product, Peanut Brittle, during the Berkshire Hathaway shareholders meeting, on Friday, April 29. Berkshire-owned See's Candies and Dairy Queen both had popular booths on the exhibit floor. "People need their candy," said See's Candies president and CEO Pat Egan. He added that higher labor and equipment costs are a challenge for Dairy Queen franchisees too. But Bader said Dairy Queen franchise operators have to "thread the needle" because the chain doesn't want to lose customers.

Persons: Pat Egan, Liz Claman, Warren Buffett's, John Peterson, Berkshire Hathaway, Egan, See's, Troy Bader, Bader Organizations: Fox Business, Berkshire Hathaway, Berkshire, Dairy, Dairy Queen Locations: America

Search resuls for: "Pat Egan"

5 mentions found