Billionaire Buffet buys 38% stake in Pilot Flying J

Read this one on – Read Original story here

“Pilot Flying J is built on a longstanding tradition of excellence and an unrivaled commitment to serving North America’s drivers,” said Warren Buffett, chairman, president and CEO of Berkshire Hathaway. “Jimmy Haslam and his team have created an industry leader and a key enabler of the nation’s economy. The company has a smart growth strategy in place and we look forward to a partnership that supports the trucking industry for years to come.”

This is huge endorsement of Flying J and Berkshire Hathaway commitment to the transportation industry.

So if Berkshire Hathaway aka Buffet thinks that truck stops are going to be doing well.  Then he must believe that Autonomous Driverless trucks are not really going to be a reality to mess with no truck stops.  My opinion and guess is that Pilot/Flying J is going to be able to meet the demands to help the transportation industry grow and change.  Maybe these places are going to start being able to have super charging stations for Tesla New electric trucks .  Basically transportation is not dead, we are not all going to work for Amazon and there is profit in supporting the industries that support trucking.

Yay for trucking.  Anytime a market leader buys in it is good sign.  Also good sign for Pilot that they are over their little scandal.  I don’t even really remember what their weird price fixing discount strong arming issue was anyway.