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BUFFET BUYING INTO PILOT FLYING J

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According to reports, in a few years, Pilot Flying J will be under new ownership. Warren Buffet’s company is slowly becoming a major stakeholder in the business. In fact, it appears he will be the majority owner within five years. Although financial terms of the deal are undisclosed, the firm of Berkshire Hathaway says that it will buy 38.6 percent of the company with those purchases rising to 80 percent in 2023. The company, which has 750 truck stops throughout the U.S. and Canada, has been under-the-gun since several of its’ employees were involved in a fuel rebate scheme which has cost Pilot Flying J millions in settlements and penalties.

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