negativeBook2005conf:high
“Warren Buffett has said that the investment Berkshire made in an airline was a good example of what not to do... We were not buying stock in USAir on the theory that the common shareholders were certa”
← All stocksStock detail
USAir Group
$U26 mentions across the corpus · positive 3 · negative 12 · neutral 10 · historical 1
neutralMeeting1997-05-05conf:medium
Morning Session - 1997 Meeting
“U.S. Air? Are you considering redeploying assets, or how will your management plan to improve this company?”
negativeMeeting1996-05-06conf:high
Afternoon Session - 1996 Meeting
“their fundamental problem, and Steve Wolf has said this, the new CEO of U.S. Air, the fundamental problems are there... their costs are out of line”
negativeLecture1996-04-19conf:high
Stanford Law: Worldly Wisdom Revisited — Business: What Lawyers Should Know (1996)
“Warren Buffett has said that the investment Berkshire mad in an airline was a good example of what not to do”
negativeLecture1996-04-19conf:high
Stanford Law: Worldly Wisdom Revisited — Business: What Lawyers Should Know (1996)
“USAir went right to the brink of going broke. It was hanging by a thread for several months.”
negativeLetter1996conf:high
1996 Berkshire Hathaway Shareholder Letter
“my analysis of USAir's business was both superficial and wrong...USAir's revenues would increasingly feel the effects of an unregulated, fiercely-competitive market”
neutralLetter1996conf:high
1996 Berkshire Hathaway Shareholder Letter
“the prices of USAir's publicly-traded securities tell us that our preferred stock is now probably worth its par value of $358 million”
historicalLetter1996conf:high
1996 Berkshire Hathaway Shareholder Letter
“Making our investment, we wrote into the preferred contract a somewhat unusual provision stipulating that "penalty dividends" - to run five percentage points over the prime rate”
positiveLetter1996conf:high
1996 Berkshire Hathaway Shareholder Letter
“We owe Stephen Wolf, the company's CEO, a huge thank-you for extracting a performance from the airline that permitted this payment.”
negativeMeeting1995-05-01conf:high
Morning Session - 1995 Meeting
“wrote down the value of U.S. Air reflecting our investment's current market value... the economics of the business are unattractive, and I presume, given the choice, we wouldn't do it over again”
negativeMeeting1995-05-01conf:high
Afternoon Session - 1995 Meeting
“U.S. Air, which has not been questioned much at this meeting. When you were on television talking about the losses there”
negativeLetter1994conf:high
1994 Berkshire Hathaway Shareholder Letter
“Top honors go to a mistake I made five years ago that fully ripened in 1994: Our $358 million purchase of USAir preferred stock”
negativeLetter1994conf:high
1994 Berkshire Hathaway Shareholder Letter
“infusions of capital (such as ours into USAir), but eventually a fundamental rule of economics prevailed”
negativeLetter1994conf:high
1994 Berkshire Hathaway Shareholder Letter
“we wrote our USAir investment down to $89.5 million, 25 cents on the dollar at yearend 1994”
neutralLetter1992conf:high
1992 Berkshire Hathaway Shareholder Letter
“USAir Conv. Pfd. ............... 358,000(1) 268,500(2)”
negativeLetter1992conf:high
1992 Berkshire Hathaway Shareholder Letter
“In the case of our commitment to USAir, industry economics had soured before the ink dried on our check.”
positiveLetter1992conf:high
1992 Berkshire Hathaway Shareholder Letter
“Seth Schofield, CEO of USAir, has done a truly extraordinary job in repositioning the airline.”
neutralLetter1992conf:high
1992 Berkshire Hathaway Shareholder Letter
“In early 1993, USAir took a major step toward assuring survival - and eventual prosperity - by accepting British Airways' offer”
neutralLetter1991conf:high
1991 Berkshire Hathaway Shareholder Letter
“large, but not controlling, blocks of stock comparable to those we hold in Capital Cities, Salomon, Gillette, USAir, Champion, and American Express”
neutralLetter1991conf:high
1991 Berkshire Hathaway Shareholder Letter
“USAir 358,000(2) 232,700(1)”
positiveLetter1991conf:high
1991 Berkshire Hathaway Shareholder Letter
“Seth Schofield, who became CEO of USAir in 1991, is making major adjustments in the airline's operations in order to improve its chances”
neutralLetter1991conf:high
1991 Berkshire Hathaway Shareholder Letter
“The low valuation that we have given USAir in our table reflects the risk that the industry will remain unprofitable for virtually all participants”
negativeLetter1991conf:high
1991 Berkshire Hathaway Shareholder Letter
“Last year I told you that our USAir investment "should work out all right unless the industry is decimated during the next few years." Unfortunately 1991 was a decimating period”
neutralLetter1989conf:high
1989 Berkshire Hathaway Shareholder Letter
“we purchased $358 million of USAir Group, Inc. preferred stock with mandatory redemption in ten years, a dividend of 9 1/4%”
neutralLetter1989conf:medium
1989 Berkshire Hathaway Shareholder Letter
“I am not on the board of USAir or Champion...we have no ability to forecast the economics of...the airline industry”
neutralLetter1989conf:high
1989 Berkshire Hathaway Shareholder Letter
“we hold in Capital Cities, Salomon, Gillette, USAir and Champion”