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Wesco Financial Corporation was an American diversified financial corporation headquartered in Pasadena, California. Wesco was originally the holding company for Mutual Savings, a savings and loan association. Mutual Savings' thrift operations were sold to CenFed Bank in 1993. [6] It was for a long time 80.1% owned by Blue Chip Stamps, which is ...
Munger was chairman and CEO of Wesco Financial from 1984 to 2011, when Buffett’s Berkshire purchased the remaining shares of the Pasadena, California-based insurance and investment company it ...
Charlie Munger. Charles Thomas Munger (January 1, 1924 – November 28, 2023) was an American businessman, investor, and philanthropist. He was vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett, from 1978 until his death in 2023. [1] Buffett described Munger as his closest partner and right-hand man, and ...
Wesco International, Inc. provides electrical, industrial, communications, maintenance, repair, and operating (MRO), original equipment manufacturer (OEM) products, construction materials, and shipping. In 2023, its total revenue was approximately $22 billion. The company employs approximately 20,000 employees and 30,000 suppliers to serve more ...
Munger also ran a smaller holding company, Pasadena-based Wesco Financial, which was majority-owned by Berkshire. It was merged into Berkshire in 2011. Separately, Munger headed Daily Journal Corp ...
As chairman of Wesco Financial (now wholly owned by Berkshire) from 1984 to 2011, Munger oversaw a concentrated stock portfolio, and also took control of several companies. ... In a 2011 CNNMoney ...
In 1974, the SEC opened a formal investigation into Buffett and Berkshire's acquisition of Wesco Financial, due to possible conflict of interest. No charges were brought. No charges were brought. In 1977, Berkshire indirectly purchased the Buffalo Evening News for $32.5 million.
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