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Warren Buffett trolls Trump and GOP on tax cuts

Warren Buffett trolls Trump and GOP on tax cuts

Haslam is the CEO of the company and owner of the National Football League team the Cleveland Browns.

By 2023, Berkshire will become Pilot Flying J's majority shareholder by acquiring another 41.4%, with the Haslam family keeping 20%.

Companies from Ford Motor Co.to Alphabet Inc.'s Waymo are developing cars and trucks created to operate without human oversight, potentially limiting demand for the pizza, coffee and restrooms at Pilot's and Flying J's 750 travel centers.

Buffett's company, Berkshire Hathaway, said Tuesday, Oct. 3, that it is acquiring a major stake in Pilot Flying J truck stops and it will become a majority owner within about five years.

"Obviously to have a partner like Warren and Berkshire Hathaway, I think, is a tremendous honor for our team members", Jimmy Haslam said in an interview.

In a statement, Buffett praised the company's "smart growth strategy".

FILE - This April 30, 2013, file photo shows the Pilot Flying J corporate offices in Knoxville, Tenn.

"We knew that any potential partner would need to share our commitment and have a proven track record as a long-term investor", Haslam said.

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On top of that, Puerto Rico has a shortage of diesel fuel, which is needed to power the semi-trucks. In Santiago's hometown of Corozal, she said cancer patients sought refuge in a classroom.

But Buffett told CNBC he worries about a plan to offer companies a one-time low tax rate to entice them to bring home the cash they are hoarding overseas.

A study from the Tax Policy Center last week found that the top one percent of US earners would benefit most from the tax plan rather than the middle class, who Trump and Republican leaders have claimed would be the biggest gainers.

Pilot Flying J CEO Jimmy Haslam owns the Cleveland Browns, and his brother, Bill, is the governor of Tennessee and is weighing a run for the U.S. Senate. The investor, who is worth $75 billion, has often railed against rising inequality in the United States.

Influential conservatives in Washington are coalescing behind Rep. Marsha Blackburn, as Republicans jockey to succeed Sen.

Adding Pilot Flying J also boosts his bet on US economic growth.

"Trucks are going to be around for a very long time".

The trial of former Pilot Flying J President Mark Hazelwood, who reported directly to CEO Jimmy Haslam, begins in Chattanooga, Tennessee later this month. The Haslam family will own the remaining 20 percent.