Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Berkshire Hathaway Inc.    BRK.A

Delayed Quote. Delayed  - 05/26 09:59:50 pm
248540 USD   +0.28%
05/27DJCompanies Quit Share Splits -- WSJ
05/26DJAmazon's Brush With $1,000 Signals the Death of the Stock Split
05/25 ICBC Ranks No.1 in Forbes Global Top 2000 Listed Firms
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Buffett: moving oil by rail safely major industry concern

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/24/2014 | 02:51am CEST

Warren Buffett, chairman of conglomerate Berkshire Hathaway (>> Berkshire Hathaway Inc.), said on Wednesday that safety is a major priority for the rail industry, after a recent spate of accidents raised concerns about how to transport oil safely.

Warren Buffett, chairman of conglomerate Berkshire Hathaway (>> Berkshire Hathaway Inc.), said on Wednesday that safety is a major priority for the rail industry, after a recent spate of accidents raised concerns about how to transport oil safely.

"I can tell you that's all they're thinking about," the investor said in an interview with Reuters.

"We're going to move a lot of crude in this country, and we have to learn how to do it very safely," he added.

He added that the delay in the construction of the Keystone pipeline was unlikely to prompt additional purchases of tank cars at Berkshire railroad unit BNSF.

Earlier this year the railroad said it plans to buy its own fleet of up to 5,000 new crude oil tank cars with safety features that exceed the latest industry standards.

Oil by rail has surged in recent years, helped by a boom in North Dakota. Traffic is now running 10 percent ahead of last year at this time, with BNSF accounting for roughly a third of U.S. oil-by-rail traffic.

But recent accidents have underscored the dangers of transporting the volatile fuel by train, with Canada now planning to phase out older tank cars to improve safety.

COCA-COLA COMPENSATION PLAN

Buffett also said, in an interview with CNBC the same day, that he thinks Coca-Cola's (>> The Coca-Cola Company) equity compensation plan was excessive, but that Berkshire Hathaway abstained in a shareholders vote.

Earlier on Wednesday, Coca-Cola said 83 percent of shareholders approved the plan. Critics, most notably activist investor David Winters, said the plan would dilute the holdings of current shareholders too much.

As of December 31, Berkshire owned 400 million shares of the company, just over 9 percent of the shares outstanding.

Buffett said he and partner Charlie Munger did not want to vote against the plan because he did not want to show disapproval of management, adding that he has enormous respect for Coca-Cola's chief executive, Muhtar Kent.

"I love Coke, I love the management, I love the directors, so I didn't want to vote 'No,'" Buffett said. "It's kind of un-American to vote 'No' at a Coke meeting. I didn't want to express any disapproval of management but we did disapprove of the plan. The plan compared to past plans was a significant change."

Buffett said he has no intention of selling any Coca-Cola shares.

The Coca-Cola board of directors "respects Mr. Buffett's philosophical stance on equity-based compensation," the board said in a statement.

"We greatly respect his views and look forward to continuing our productive relationship with him for many years to come," the statement added.

Nonetheless, Buffett said that investor activism is getting stronger.

"The CEOs are terrified of activists. I can tell you that," Buffett said. "They are all talking to investment bankers and lawyers and saying, 'What do we do about this?'"

He denied he had soured on his enormous investment in IBM (>> International Business Machines Corp.), and said Berkshire bought some more shares this year, although the purchases did not come after IBM's most recent earnings report. He said he would not rule out future IBM stock buys.

Buffett was in New York for lunch with an anonymous bidder who paid $1,000,100 to win last year's "Power Lunch with Warren Buffett" auction benefiting San Francisco's Glide Foundation.

His New York visit comes ahead of the company's annual meeting in Omaha, Nebraska, on May 3. Tens of thousands of people flock to the gathering every year to hear Buffett and Munger answer hours of questions about the company's future.

(Reporting by Luciana Lopez and Jennifer Ablan; Editing by Steve Orlofsky and Lisa Shumaker)

By Luciana Lopez

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BERKSHIRE HATHAWAY INC.
05/27DJCompanies Quit Share Splits -- WSJ
05/26DJAmazon's Brush With $1,000 Signals the Death of the Stock Split
05/25 BERKSHIRE HATHAWAY : Prudential Florida Showcase Properties Joins Berkshire Hath..
05/25 BERKSHIRE HATHAWAY : Specialty Insurance Launches Casualty Platform, Names Marti..
05/25 ICBC Ranks No.1 in Forbes Global Top 2000 Listed Firms
05/22 BERKSHIRE HATHAWAY : West Farm development southwest of 144th, West Dodge Road i..
05/21 WARREN BUFFETT : Barron's
05/21 BERKSHIRE HATHAWAY : West farm may look like a small city Development begins, wi..
05/21 BERKSHIRE HATHAWAY : WARREN WATCH Buffett included in Smithsonian exhibit on bus..
05/20 BERKSHIRE HATHAWAY : Listen to the great ones
More news
Sector news : Property & Casualty Insurance - NEC
05/25DJQBE INSURANCE : Correction to QBE Appointment Article
05/25DJQBE Names Commonwealth Bank's Michael Ford as CFO
05/11 Results, downgrades keep FTSE under pressure
05/11DJSAMPO OYJ : Sampo Group's Results For January - -3-
05/11DJSAMPO OYJ : Sampo Group's Results For January - -2-
More sector news : Property & Casualty Insurance - NEC
News from SeekingAlpha
05/26 The Three Horse Race To $1,000
05/26 Dover Is A Great American Company - Cramer's Lightning Round (5/25/17)
05/25 The No-Brainer Way To Beat SPY
05/24 Beaten Down JBS Is A Value Investor's Dream Come True
05/24 Here's Why Sirius XM Stock Will Break Above $6
Advertisement
Financials ($)
Sales 2017 239 709 M
EBIT 2017 19 084 M
Net income 2017 18 070 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 22,62
P/E ratio 2018 20,76
Capi. / Sales 2017 1,71x
Capi. / Sales 2018 1,70x
Capitalization 408 739 M
More Financials
Chart BERKSHIRE HATHAWAY INC.
Duration : Period :
Berkshire Hathaway Inc. Technical Analysis Chart | BRK.A | US0846701086 | 4-Traders
Full-screen chart
Technical analysis trends BERKSHIRE HATHAWA...
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 279 375 $
Spread / Average Target 12%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Warren Edward Buffett Chairman & Chief Executive Officer
Marc D. Hamburg Chief Financial Officer & Senior Vice President
Charles Thomas Munger Vice Chairman
David Sanford Gottesman Independent Director
Walter Scott Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
BERKSHIRE HATHAWAY INC..1.53%408 739
TRAVELERS COMPANIES IN..1.01%34 553
TOKIO MARINE HOLDINGS ..-2.06%31 772
ALLSTATE CORP16.70%31 531
SAMPO OYJ5.89%28 168
MS&AD INSURANCE GROUP ..6.43%21 939
More Results