What does the firm do?
Berkshire Hathaway, the company which originally started as Berkshire Cotton Manufacturing in 1889 eventually became biggest textile producers in USA and later merged with Hathaway manufacturing in 1955. Despite of merger company’s sales began to decline due to inflation, technological change and fierce competition from the foreign competitors. In 1965 Buffet and his partners acquired the control as they believe they could reverse the financial decline of a company. Over the next 20 years, they purchased two insurance companies and acquainted other businesses from cash generated in initial days of textile business. Berkshire Hathaway exited textile business in 1985 due to large capital investment requirement and average
Berkshire Hathaway, the company which originally started as Berkshire Cotton Manufacturing in 1889 eventually became biggest textile producers in USA and later merged with Hathaway manufacturing in 1955. Despite of merger company’s sales began to decline due to inflation, technological change and fierce competition from the foreign competitors. In 1965 Buffet and his partners acquired the control as they believe they could reverse the financial decline of a company. Over the next 20 years, they purchased two insurance companies and acquainted other businesses from cash generated in initial days of textile business. Berkshire Hathaway exited textile business in 1985 due to large capital investment requirement and average