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Wesco Financial
Wesco Financial
Wesco Financial Corporation Type Founded Headquarters Key people Public (AMEX: WSC) 1959 Pasadena, California Charles T. Munger, Chairman of the Board Robert H. Bird, President Jeffrey L. Jacobson, VP & CFO Insurance,Furniture Rental,Steel ▲ $888.30 million USD (FY 2005) Berkshire Hathaway 2473 (17 at KBS, 2250 at CORT, 200 at Precision Steel, 6 at Wesco) (as of 2004) www.wescofinancial.com
Industry Revenue Owner(s) Employees Website
referred to as his "partner". Munger, formerly a practicing attorney, is known for his straight-shooting style and his conduct at the annual Wesco shareholder meetings in Pasadena, where he often interacts with the outside investors at considerable length. Wesco does business in three major categories; insurance, furniture rental, and steel service. The following wholly owned subsidiaries handle most of Wesco’s business: • Wesco-Financial Insurance • Kansas Bankers Surety. • CORT Business Services Corporation, furniture rental. • Precision Steel Warehouse, Inc., a chain of steel service centers. • MS Property Company, which owns commercial real estate in Pasadena.
Wesco Financial Corporation (AMEX: WSC) is a diversified financial corporation headquartered in Pasadena, California. Wesco was originally a savings and loan association. It is 80.1% owned by Blue Chip Stamps, which is wholly owned by Berkshire Hathaway, which is controlled by legendary investor Warren Buffett. Wesco is chaired by Charlie Munger, who is also vice-chairman of Berkshire Hathaway and the man that Buffett has often publicly
See also
• WESCO International Incorporated (no relation to Wesco Financial)
Data
• Yahoo! - Wesco Financial Corporation Company Profile
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