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Old 02-14-2013, 06:57 AM
 
106 posts, read 197,646 times
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There goes another classic Pittsburgh company. Hopefully Buffet keeps the operation running here.
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Old 02-14-2013, 07:11 AM
 
Location: Umbrosa Regio
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Default Berkshire Hathaway to Buy Heinz?

So far the only source I can find is CNBC, which has very little detail.

Berkshire Hathaway, 3G Buying Heinz for $72.50 a Share, or $28 Billion

According to CNBC, 3G will be the one running Heinz.
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Old 02-14-2013, 07:26 AM
 
Location: Umbrosa Regio
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Here is the press release from Heinz:

H.J. Heinz Company Enters Into Agreement to Be Acquired by Berkshire Hathaway and 3G Capital | Heinz Online Newsroom

Quote:
Understanding the need to preserve Heinz’s values, heritage and community connections, Berkshire Hathaway and 3G Capital have pledged to maintain Pittsburgh as its global headquarters, and to fulfill and continue its philanthropic support of community initiatives and related investments.
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Old 02-14-2013, 07:37 AM
 
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Quote:
Originally Posted by LIRefugee View Post
Here is the press release from Heinz:standing the need to preserve Heinz’s values, heritage and community connections, Berkshire Hathaway and 3G Capital have pledged to maintain Pittsburgh as its global headquarters, and to fulfill and continue its philanthropic support of community initiatives and related investments.
I hope very much that this is true & only time will really tell. There's just been too many of the above type statements made that are boldface lies- kind of like coaches that announce their love for a team/city with no plans of leaving before bolting the next day to their next coaching job.
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Old 02-14-2013, 07:40 AM
 
Location: Montco PA
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The article on philly.com said Buffet was quoted as saying "the HG will remain in Pittsburgh."
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Old 02-14-2013, 07:41 AM
 
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I trust Warren Buffet. But how many years does the guy really have left?
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Old 02-14-2013, 07:45 AM
 
Location: Umbrosa Regio
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Quote:
Originally Posted by UKyank View Post
I hope very much that this is true & only time will really tell. There's just been too many of the above type statements made that are boldface lies- kind of like coaches that announce their love for a team/city with no plans of leaving before bolting the next day to their next coaching job.
Well, it's easier for a sports team to move than a large corporation. Keep in mind that though Alcoa technically has NYC headquarters, that only includes the top executives. The number of NYC employees is around 60, while 2,000 work at the operational headquarters in Pittsburgh. I'm sure the same will happen for Bayer and for Heinz if the top executives decide to work from Omaha or wherever. Actual operations will probably stay in Pittsburgh.

Point taken, though.
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Old 02-14-2013, 07:56 AM
 
Location: Marshall-Shadeland, Pittsburgh, PA
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I must say the thread title was a bit irresponsibly overexaggerated. I saw it and immediately thought that either:

1.) Heinz was moving out of Pittsburgh.
2.) Heinz was going out of business.

Agreeing to being purchased by another entity is a different story entirely. As baconlegs said Warren Buffet won't be around all that much longer. Will there really be a desire to move a successful corporate HQ in Pittsburgh to a place like Omaha after his death OR to a much more expensive area like NYC?

I'm more concerned about U.S. Steel's potential plans to leave Pittsburgh.
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Old 02-14-2013, 08:07 AM
 
Location: Umbrosa Regio
1,334 posts, read 1,611,527 times
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Quote:
Originally Posted by SteelCityRising View Post
I'm more concerned about U.S. Steel's potential plans to leave Pittsburgh.
At least that threat is only to move to Moon Township or somewhere else in the area, not to an entirely different city. I see the whole campus concept to be outdated and due to die a slow death over several decades, hopefully. I personally dislike working in that sort of environment, separated as you are from the surrounding community.

Oh, in other news, US Airways and American Airlines announced a merger agreement. If approved, the US Airways name will go away.
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Old 02-14-2013, 08:12 AM
 
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Well, maybe they won't move them, probably won't. But what about the people they sell them to, or the people they sell them to?
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