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Carnivalpunk

Pilot Flying J majority share sold to Warren Buffet

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 Carnivalpunk    502

Browns Owner Jimmy Haslam To Sell Majority Stake In Pilot Flying J To Warren Buffett’s Firm

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Browns Owner Jimmy Haslam To Sell Majority Stake In Pilot Flying J To Warren Buffett’s Firm

October 3, 2017 10:50 AM

By The Associated Press

OMAHA (AP) — Warren Buffett’s company is acquiring a major stake in Pilot Flying J truck stops and it will become a majority owner within about five years.

The ubiquitous truck stops, 750 of them in 44 states and Canada, make up the 15th largest private company in the U.S., according to Forbes, with revenue of almost $20 billion per year.

Berkshire Hathaway and Pilot Travel Centers announced the deal Tuesday morning. Initially, Berkshire will buy 38.6 percent of the company that runs 750 truck stops across 44 states and Canada, but in 2023 that will increase to 80 percent.

http://cleveland.cbslocal.com/2017/10/03/jimmy-haslam-sells-majority-stake-in-pilot-flying-j-to-warren-buffetts-firm/

Haslem belongs in jail for ripping off truckers. Instead he gets to sell most of his stake for a huge profit.

Complete bs!

"85 million settlement with some of the defrauded customers as well as a $92 million penalty to the government. "

 

 

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