Haslams Sell Pilot to Warren Buffet

The potential ramifications of this seem to be both huge and wide.

The witch may be dead at last.

Link: https://amp.knoxnews.com/amp/726050001

 

Wow.

 

Consolidating funds for Gruden

 

But they are still 50.1 which I'm pretty sure means they are majority stakeholder. Really just essentially from a corporate governance standpoint still means they hold all power.

 

For now, it's transitioning to 20% ownership

By 2023, the Omaha-based holding company, headed by celebrity CEO Warren Buffett, will become Pilot's majority shareholder, with the Haslam family keeping 20 percent ownership.

 

Guessing the third generation didn't want to run it.

Buffet now owns two of the largest non-government businesses in Knox Co. area.

And funds a Senate run.

 

I wonder if Buffet owning Clayton has anything you do with their relatively small stake in UT Athletic Donations?

 

So next coaching search, after we fire PJ Fleck for going 29-33 in 5 years, they wont have as much of a say.

 

I'd guess so.

Plus Jim Clayton didn't give away crap until he got old and realized his legacy would be that of a meiser.

 

I will fight you.

 

Only after I have had a round or two with him.

 

First Bank just bought up a bunch of Clayton banks. I'm remodeling one on Summit Avenue now

 

Yup. He's done all right for himself, no doubt, just what his legacy was veering towards.

That he came from Henderson, TN and Jim Ayers came from Parsons is quite funny to me.

 

How are these deals usually done? Is it straight cash, homie, or some kind of stock swap?

 

Don't be disgusting.

 

Probably a mixture of both.

 

Jim Ayers is funny guy. He's got a sign in his office that says "Don't laugh at the guy in overalls, he may be your boss"

 

I am always fascinated by these guys that start from nothing and end up building a billion dollar business. it obviously isn't just hard work, but smarts, a great idea and most importantly, the right place at the right time. In other words, a lot of good fortune.

 

100% truth.