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bar1080

10/27/23 12:09 PM

#1982 RE: Prudent Capitalist #1981

I want to plunge into that disagreement when I get some time. Buffett can get nasty when he thinks someone is trying to "pull something." OTOH I can see where legitimate differences of opinion can arise over accounting and contract wording. .

bar1080

11/03/23 9:33 PM

#1984 RE: Prudent Capitalist #1981

"Truck Stop’s Suit Against Berkshire Challenges Buffett’s Good Guy Image"

"Warren Buffett has long championed Berkshire Hathaway as the best home for sizable private companies seeking a buyer, saying that the conglomerate would treat them like fine art and never sell them, a contrast with more rapacious private equity purchasers.

So it comes as a surprise that truck-stop operator Pilot is suing Berkshire Hathaway (ticker: BRK.B), claiming that Buffett’s company is using accounting adjustments to potentially shortchange the family that formerly controlled it.

Knoxville-based Pilot was owned by the Haslam family until it sold an 80% stake to Berkshire Hathaway in two stages in 2017 and early 2023 for a total of $11 billion, with $8.2 billion paid in the second tranche for 41.4% of the business.

It was Berkshire’s largest purchase of a private company during Buffett’s 62 years at the helm."

https://www.barrons.com/articles/buffett-berkshire-hathaway-stock-suit-036b3618