Berkshire Eagle Obituary – After purchasing an additional 1.9 million shares of Occidental Petroleum in the most recent week, Berkshire Hathaway, which is owned by Warren Buffett, now controls approximately $11 billion worth of the company’s stock.
The Omaha, Nebraska-based conglomerate now holds ownership of 19.4 percent of the oil producer’s equity as a result of its most recent purchases of over $117 million in stock, which it reported to the Securities and Exchange Commission on Monday.
Berkshire is getting closer and closer to controlling more than 20 percent of Occidental’s shares, and the company is situated in Houston. At that moment, Berkshire would be in a position to begin disclosing a proportional part of Occidental’s earnings inside its own earnings reports, which would provide Berkshire with a considerable boost.
Occidental is now Berkshire’s largest shareholder. Just this month, Berkshire has purchased Occidental shares for more than $1.3 billion, bringing the total number of shares it has in the company to roughly 181.7 million.
Berkshire possesses rights to buy additional 83.9 million shares of Occidental at a price of $59.62 each, which it got in 2019 when it helped finance Occidental’s acquisition of Anadarko. These warrants are in addition to Berkshire’s present position in Occidental. In addition, Berkshire is the owner of 100,000 preferred shares in Occidental, which provide an annual dividend of 8%.
This year, Berkshire has been making aggressive stock purchases despite the falling market, with investments totaling over $51 billion over the first three months of the year. It won’t divulge all of its purchases made during the second quarter until the following month.
There are other oil producers that Berkshire has been purchasing in addition to Occidental. At the beginning of this year, Berkshire Hathaway purchased more than $20 billion worth of Chevron shares in the first quarter.
As a result, Berkshire Hathaway considered Chevron to be one of its most significant assets, alongside Apple and Bank of America.
In addition to its investments, Berkshire Hathaway owns outright more than 90 companies, including the BNSF railroad, several large utilities, Geico and a number of other insurers, and an eclectic assortment of manufacturing and retail firms that includes Precision Castparts,
Fruit of the Loom, and Dairy Queen. Berkshire Hathaway was founded in 1852 and is headquartered in Omaha, Nebraska.
Tuesday’s trading brought a rise of more than 1.4 percent for Occidental shareholders, bringing the stock price to $60.91. Berkshire has been increasing its holdings of the stock whenever it trades for less than $60.
The most recent transactions, which were done during the course of the previous week, were completed at prices ranging from $56.14 to $59.67. In addition to Berkshire Hathaway’s investment portfolio, which is dominated by a massive Apple stake, the conglomerate owns more than 90 companies outright. Some of these companies include Geico insurance, BNSF railroad, several major utilities, and an eclectic assortment of manufacturing and retail businesses.
A proposal that could save lives amidst the state’s crippling opioid epidemic is supervised drug consumption, which would take place in facilities known as “safe injection” or “overdose prevention” sites. Burlington’s leaders have been enthusiastic about the possibility of supervised drug consumption for many years.
Although political authorities have received widespread support at the local level, they have pointed the finger at other people for thwarting their efforts to build such a portal. Since 2018, they have been complaining about warnings from federal and state officials, who dispute the advantages of such facilities and believe that they would break drug laws if they were built.
Now, after Republican Governor Phil Scott axed a proposal that would have studied the sites across the state, the Burlington City Council is once more urging higher-ups to move out of the way and let the city sponsor a site. This comes after Scott axed a proposal that would have studied the sites across the state.
The council would be sending “a strong and unequivocal message to State leaders that the time for action is now” and “that waiting any longer will only cost lives” if it were to approve a resolution that was on its agenda for Monday. The resolution reads as such: “that waiting any longer will only cost lives.”
The purpose of this resolution is to call on Republican Governor Phil Scott and Democratic Mayor Miro Weinberger to recognise August 31 as “International Overdose Awareness Day” and the month of September as “Recovery Month.” Doing so will hopefully assist in making people more aware of the high rate of overdose deaths in Burlington and Vermont.
The resolution, which is supported by two-thirds of the council, would also direct Weinberger’s administration to begin working with “partners” to investigate how the city could fund a site. This provision is included because it is supported by two-thirds of the council.
As a result of a resolution passed by the 2020 Municipal Council, city officials met with representatives from the Howard Center, a non-profit organisation for mental health that runs opioid treatment initiatives such as a needle exchange, to examine the issue.
The director of such programmes, Grace Keller, who is known as “Safe Recovery,” did not react to any of the calls or emails that were directed her way.
There is a good chance that the motion will receive widespread support from the council as it is being brought up by five Progressives and three Democrats. However, it is being met with fierce resistance from other levels of government.