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The Lubrizol Corporation has announced a new executive leadership team aimed at enhancing innovation and driving future growth. The team includes seasoned leaders, such as Julie Edgar as Chief Technology Officer and Jose Gonzalez-Magaz as Chief Legal Officer, effective March 1, 2023. President and CEO Rebecca Liebert emphasized the integration of historical innovation with fresh leadership to propel the company forward as it seeks to address complex challenges across various industries. Lubrizol continues to operate over 100 facilities globally, employing more than 8,000 individuals.
Mouser Electronics announces its sponsorship of the Vasser Sullivan Lexus Racing team for the 2023 IMSA WeatherTech SportsCar Championship. The collaboration extends a decade-long partnership and includes support for the No. 14 and No. 12 Lexus RC F GT3 entries, with the season beginning January 20-22, 2023. Mouser’s involvement aims to promote its high-performance business model and cutting-edge technologies. The Vasser Sullivan Lexus team previously achieved significant success, including a first-place finish at the 2022 Motul Petit Le Mans.
AM Best has upgraded the Financial Strength Rating (FSR) of Transatlantic Reinsurance Company and its subsidiaries to A++ (Superior) from A+, and the Long-Term Issuer Credit Ratings (ICR) to aa+ (Superior) from aa-. Similar upgrades were applied to Alleghany Corporation, RSUI Indemnity Company, and CapSpecialty Insurance Group. These upgrades follow Berkshire Hathaway's acquisition of Alleghany in October 2022, reflecting strong balance sheets and operating performance, supported by Berkshire's significant resources. All ratings carry a stable outlook.
McLane Company has reached a milestone of $100 million in donations to Children's Miracle Network Hospitals since 1987. This funding supports critical healthcare services for 10 million children annually across the U.S. and Canada. Local grassroots efforts from over 75 distribution centers have contributed significantly, with notable fundraising events boosting donations. CEO Tony Frankenberger emphasized the team's pride in giving back, while CMN Hospitals' CEO Teri Nestel praised McLane's long-standing commitment to improving children's health.
Berkshire Hathaway has elected Thomas S. Murphy, Jr. to its Board of Directors. Murphy co-founded Crestview Partners, a private equity firm, in 2004, and previously served as a Partner at Goldman, Sachs & Co.. He is also involved with the boards of New York University and NYU Langone Health. This move is expected to bring valuable experience to Berkshire, which engages in diverse business activities including insurance, energy, and manufacturing.
Mouser Electronics announces sponsorship of the newly formed DS PENSKE Formula E team for the 2022-23 ABB FIA Formula E World Championship. The team features drivers Stoffel Vandoorne and Jean-Eric Vergne, aiming to build on previous successes. The DS E-TENSE FE23 car boasts improvements, including a top speed of 280 kph, a lighter design, and enhanced efficiency through energy regeneration. Mouser continues its commitment to promoting sustainable automotive technologies and innovation through these racing partnerships.
Mouser Electronics, a subsidiary of Berkshire Hathaway, has released the final episode of its 2022 Empowering Innovation Together program. This episode focuses on the advancements in autonomous mobile robots (AMRs), highlighting how technologies like AI and 5G enhance their efficiency in manufacturing and logistics. CEO Glenn Smith emphasizes the significant role AMRs play in improving productivity. The program includes a new podcast episode featuring discussions on AMRs and their business applications. Mouser remains committed to providing cutting-edge electronic components and support globally.
Berkshire Hathaway reported significant financial results for the third quarter and the first nine months of 2022. Key highlights include a net loss attributable to shareholders of $(2,688) million in Q3 2022, compared to a profit of $10,344 million in Q3 2021. For the first nine months, the loss was $(40,983) million versus a profit of $50,149 million in 2021. Operating earnings improved to $7,761 million in Q3 2022, up from $6,466 million in Q3 2021, reflecting a robust operational performance despite investment losses totaling $(10.1 billion) in Q3 and $(63.9 billion) year-to-date.
Berkshire Hathaway Inc. will release its third quarter earnings and Form 10-Q on November 5, 2022, at around 7:00 a.m. Central time.
The earnings report will be accessible on their official website, www.berkshirehathaway.com. Berkshire Hathaway operates in various sectors, including insurance, utilities, transportation, and more, with stock listings on NYSE under symbols BRK.A and BRK.B.
Forward-looking statements are included but are subject to change.
Mouser Electronics, a Berkshire Hathaway company, announces its sponsorship of MATHCOUNTS, a program engaging almost 90,000 middle school students across 5,000 schools in the U.S. Through live competitions, MATHCOUNTS encourages students to tackle mathematical challenges, fostering curiosity and education in young innovators. This Fall, around 800 students from 25 schools in the Dallas-Fort Worth area will participate. Additionally, Mouser continues its commitment to education by supporting various STEM initiatives and local competitions.