Berkshire executive calls wildfire claims against its utility business unfounded

  • 📰 Reuters
  • ⏱ Reading Time:
  • 35 sec. here
  • 19 min. at publisher
  • 📊 Quality Score:
  • News: 76%
  • Publisher: 97%

RULES:RESULTS समाचार

CMPNY,CONG,CONG08

Berkshire Hathaway , the conglomerate led by Warren Buffett, will fight all lawsuits brought against its utility business due to wildfires as the cases are 'unfounded,' a top executive said on Saturday.

Item 1 of 2 A man walks through a street in the town where about 10,000 residents were evacuated as the fire continues, in Molalla, Oregon, U.S., September 11, 2020. REUTERS/Carlos Barria/File PhotoA man walks through a street in the town where about 10,000 residents were evacuated as the fire continues, in Molalla, Oregon, U.S., September 11, 2020.

"When we come to the wildfires, that's been a substantial challenge because it's the first time there's been a lot of discussion around one of our utilities" that is experiencing "significant losses associated with wildfires," Abel said. But Abel said temporarily shutting off power during storms or wildfires was not on the minds of utility employees, and it required Berkshire "to fundamentally change the culture."

Utah lawmakers in March allowed large utilities to collect surcharges from customers to establish wildfire funds, and capped liability on some claims, a move that Abel described as the "gold standard."

 

आपकी टिप्पणी के लिए धन्यवाद। आपकी टिप्पणी समीक्षा के बाद प्रकाशित की जाएगी।
हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो:

 /  🏆 2. in İN

इंडिया ताज़ा खबर, इंडिया मुख्य बातें

Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।

Warren Buffett's Berkshire Hathaway cut Apple investment by about 13% in the first quarterBerkshire reported that its Apple bet was worth $135.4 billion, implying around 790 million shares. That would mark a decline of around 13% in the stake.
स्रोत: NBCLA - 🏆 319. / 59 और पढो »

Warren Buffett says Berkshire Hathaway is looking at an investment in CanadaThe Oracle of Omaha noted that he is 'confident' in placing bets in the country.
स्रोत: CNBC - 🏆 12. / 72 और पढो »