Warren Buffett Applauds Liegl & Forest River
Warren Buffett, chairman of Berkshire Hathaway Inc., had brief but warm words for the company’s Forest River Inc. holdings in his annual letter to shareholders issued recently.
On page 13 of the 26-page document, Buffett had this to say:
Forest River, our RV and boat manufacturer, had record sales of nearly $2 billion and record earnings as well. Forest River has 82 plants, and I have yet to visit one (or the home office, for that matter). There’s no need; Pete Liegl, the company’s CEO, runs a terrific operation. Come view his products at the annual meeting. Better yet, buy one.
Forest River is categorized in Berkshire Hathaway’s “Manufacturing, Service and Retailing Operations” segemnt, which reported 2010 sales of $66.6 billion and net earnings of $2.46 billion.
Other record-setters in 2010 were TTI, CTB and H.H. Brown.
For a look at the entire Buffett letter to shareholders click here.