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Berkshire Hathaway (NYSE: BRK), a multinational conglomerate holding company, is one of the largest and most well-respected entities in the world. Founded by Warren Buffett, Berkshire Hathaway is renowned for its diverse portfolio of wholly owned subsidiaries and strategic equity investments.

The company's core business operations span across various industries, including insurance, rail transportation, energy generation and distribution, manufacturing, retail, and services. Notable subsidiaries include GEICO, BNSF Railway, Berkshire Hathaway Energy, and NetJets, among others.

Recently, Berkshire Hathaway's aviation subsidiary, NetJets, has been in the spotlight for labor relations issues. NetJets pilots, represented by the NetJets Association of Shared Aircraft Pilots (NJASAP), have faced aggressive managerial tactics, including intimidation and disciplinary investigations related to lawful union activities. Despite a five-year collective bargaining agreement, tensions remain high as union members strive to ensure their rights and improve operational conditions.

Additionally, the NetJets Unions Coalition (NUC) has been relaunched, emphasizing the importance of collaborative efforts between various union groups representing different employee sectors within NetJets. This coalition aims to address pressing issues such as discipline increases, operational concerns, and safety.

Financially, Berkshire Hathaway remains robust, consistently delivering strong performance across its diversified holdings. The company's strategic acquisitions and investments, guided by Buffett's value investing principles, have contributed to its long-term success and stability.

Berkshire Hathaway continues to focus on growth and sustainability, leveraging its substantial resources and expertise to capitalize on new opportunities while managing risks effectively. With a vast array of businesses under its umbrella, the company is well-positioned to maintain its status as an industry leader and a reliable investment choice for shareholders.

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Berkshire Hathaway reported Q3 2024 net earnings of $26.25 billion, compared to a loss of $12.77 billion in Q3 2023. Operating earnings reached $10.09 billion in Q3 2024, slightly down from $10.76 billion in Q3 2023. For the first nine months of 2024, net earnings totaled $69.30 billion, up from $58.65 billion in 2023.

The company's insurance float increased by $5 billion to $174 billion since year-end 2023. Berkshire repurchased approximately $2.9 billion of its shares during the first nine months of 2024. Notable performance includes insurance-investment income of $3.66 billion in Q3 2024, up from $2.47 billion in Q3 2023.

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Berkshire Hathaway has announced that it will release its third quarter earnings report and Form 10-Q on Saturday, November 2, 2024, at approximately 7:00 a.m. Central time. The financial documents will be accessible through the company's website at www.berkshirehathaway.com.

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Duracell has been announced as the official battery partner of the FORMULA 1 HEINEKEN SILVER LAS VEGAS GRAND PRIX 2024. The partnership includes sponsorship of one of the Las Vegas Strip Circuit™ DRS Zones, where Duracell's iconic copper & black colors will be prominently displayed. This collaboration merges high-speed innovation with top-tier performance, highlighting Duracell's Power Boost™ Ingredients.

The partnership will feature gantry LED animated boards, trackside signage, and unique rooftop branding around the circuit. Additionally, Williams Racing, Duracell's partner since 2022, will turn the DRS flaps on both drivers' FW46 rear wings into a Duracell battery and change the color of the DRS button on the steering wheels to Duracell copper.

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Duracell, the #1 trusted battery brand, has expanded its portable power lineup with new offerings. The company introduced the M100 Portable Charging Hub, a compact device weighing just over one pound, designed for charging phones, tablets, and earbuds on the go. Duracell also launched the G-Series Portable Power Stations, including the G350 and G800 models, tailored for outdoor enthusiasts. These power stations feature multiple charging ports, a 360-degree lantern light, and can be charged using the new G-Solar Panel.

The M100 joins Duracell's existing M-Series, which includes the M150 and M250 Portable Charging Hubs. All products are available on PowerStations.Duracell.com, with prices ranging from $99 to $199. The new lineup aims to provide flexible power solutions for various aspects of life, both at home and on the go.

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Helzberg Diamonds, a renowned US jewelry retailer, has partnered with Proximity, creator of the award-winning Retail Super-App, to enhance customer experience. The collaboration aims to empower sales associates with a clienteling platform that delivers hyper-personalized service across all touchpoints. Launched in summer 2024, the platform connects customer data and uses innovative technology to power personalization and provide endless aisle capabilities.

The partnership is expected to transform customer engagement, drive repeat purchases, and increase in-store efficiency. Proximity's CEO, Cathy McCabe, expressed excitement about forging deep connections with customers and cultivating loyalty. Brad Hampton, CEO of Helzberg Diamonds, highlighted the opportunity to accelerate their digital transformation while maintaining the human touch that sets them apart in the industry.

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Berkshire Hathaway Inc. (BRK.A; BRK.B) has released its financial results for the second quarter and first six months of 2024. The company reported net earnings of $30,348 million for Q2 2024, compared to $35,912 million in Q2 2023. Operating earnings increased to $11,598 million in Q2 2024 from $10,043 million in Q2 2023.

For the first six months of 2024, net earnings were $43,050 million, down from $71,416 million in the same period of 2023. The company's insurance-underwriting and insurance-investment income showed significant improvements. Berkshire repurchased approximately $345 million of its shares during Q2 2024, bringing the six-month total to $2.9 billion. As of June 30, 2024, Berkshire's insurance float was approximately $169 billion.

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Berkshire Hathaway Inc. (BRK.A; BRK.B) has announced that its second quarter earnings release and quarterly report on Form 10-Q will be made available online on Saturday, August 3, 2024, at approximately 7:00 a.m. Central time. Investors and interested parties can access these financial documents through the company's official website at www.berkshirehathaway.com. This timely disclosure of financial information demonstrates Berkshire Hathaway's commitment to transparency and keeping shareholders informed about the company's performance.

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The NJASAP Membership has re-elected Capt. Pedro Leroux as Union president with more than 80% of votes. This marks his fourth consecutive term. The election, which concluded on June 10, saw a 76% voter turnout, surpassing the historic average by 18.3%. The Pilots Unite Slate, led by Leroux, included four incumbent candidates and one new member, Capt. Clare Carey. All candidates received approximately 80% of votes for their respective positions. The elected officers will serve a three-year term beginning July 1, 2024, through June 30, 2027. The election was administered by BallotPoint Election Services.

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NetJets has filed a lawsuit against the NetJets Association of Shared Aircraft Pilots (NJASAP), accusing the union of defamation related to safety, maintenance, and pilot training concerns. NJASAP, representing over 3,400 pilots, claims the lawsuit aims to silence their legitimate concerns, which have grown in recent months. NJASAP President Capt. Pedro Leroux emphasized their commitment to raising safety issues, despite the legal action. The union asserts it has repeatedly tried to work with management to address these concerns, but management has chosen to pursue legal action instead.

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The NetJets Association of Shared Aircraft Pilots (NJASAP) and Teamsters Local 284 have relaunched the NetJets Unions Coalition (NUC) to address labor-management issues. NJASAP represents over 3,400 pilots at Berkshire Hathaway's NetJets Aviation, while Teamsters Local 284 represents approximately 575 dispatchers, flight attendants, maintenance controllers, mechanics, and stock clerks. The coalition aims to enhance dialogue with NetJets management about discipline, safety, operational issues, and improved communication. Leaders emphasize the need for solidarity and constructive engagement to benefit employees, operations, and customers.

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FAQ

What is Berkshire Hathaway?

Berkshire Hathaway is a multinational conglomerate holding company with diverse businesses operating in various sectors, including insurance, transportation, energy, and more.

Who founded Berkshire Hathaway?

Berkshire Hathaway was founded by Warren Buffett, one of the most renowned investors in the world.

What are some of the notable subsidiaries of Berkshire Hathaway?

Notable subsidiaries include GEICO, BNSF Railway, Berkshire Hathaway Energy, and NetJets.

What recent labor issues have occurred at NetJets?

Recent labor issues at NetJets include aggressive managerial tactics towards union members and a lawsuit alleging defamation by the union.

What is the NetJets Unions Coalition (NUC)?

The NetJets Unions Coalition (NUC) is a collaboration of various union groups representing different employee sectors within NetJets, aiming to address operational and safety concerns.

How has Berkshire Hathaway performed financially?

Berkshire Hathaway has consistently delivered strong financial performance across its diversified holdings, maintaining stability and growth.

What industries does Berkshire Hathaway operate in?

Berkshire Hathaway operates in industries such as insurance, rail transportation, energy generation and distribution, manufacturing, retail, and services.

What is the significance of Warren Buffett to Berkshire Hathaway?

Warren Buffett is the founder and guiding force behind Berkshire Hathaway's strategic acquisitions and investment decisions, contributing significantly to its success.

What is the focus of Berkshire Hathaway's business strategy?

Berkshire Hathaway focuses on growth, sustainability, and value investing principles to capitalize on opportunities and manage risks effectively.

How does Berkshire Hathaway ensure operational excellence?

Berkshire Hathaway leverages its substantial resources and expertise, along with strategic management and investments, to maintain high operational standards across its businesses.

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