international or wesco oil . wesco financial corporation type private industry insurance furniture rental steel fate acquired by berkshire hathaway founded 1959 headquarters 301 east colorado boulevard pasadena california united states key people charlie munger former chairman and ceo revenue 765 million usd 2010 number of employees 2291 14 at kbs 2100 at cort 172 at precision steel 5 at wesco as of 2010 website www.wescofinancial.com cort moving van wesco financial corporation was a diversified financial corporation headquartered in pasadena california . wesco was originally the holding company for mutual savings a savings and loan association . mutual savings thrift operations were sold to cenfed bank in 1993 . 1 it was for a long time 80.1 % owned by blue chip stamps which is wholly owned by berkshire hathaway which is controlled by legendary investor warren buffett . charlie munger the vice chairman of berkshire hathaway and buffett s business partner served as ceo and chairman of wesco from 1984 to 2011 . munger formerly a practicing attorney is known for his straight shooting style and his conduct at the now discontinued wesco shareholder meetings in pasadena where he used to interact with the outside investors at considerable length . 2 in june 2011 berkshire hathaway acquired the approximately 20 % of wesco that it did not already own . 3 wesco financial was previously likened to a miniature version of berkshire hathaway by certain observers although buffett and munger cautioned investors that this was not an appropriate comparison . like its parent company wesco provided insurance and reinsurance ; it does so through subsidiaries wesco financial insurance company and kansas bankers surety . it also held shares in some of the same companies as berkshire like coca cola kraft foods procter & gamble and wells fargo . controlling interests include cort business services and precision steel warehouse which has steel service centers in chicago and charlotte north carolina . subsidiaries edit wesco did business in three major categories ; insurance furniture rental and steel service . the following wholly owned subsidiaries handled most of wesco s business wesco financial insurance which was incorporated in 1985 and engages in the property and casualty insurance business . wesco financial became part of national indemnity kansas bankers surety company which was incorporated in 1909 purchased by wesco in 1996 and provides specialized insurance coverages for banks . kansas bankers surety became part of berkshire hathaway homestate companies . cort business services corporation furniture rental . precision steel warehouse inc. a chain of steel service centers . precision steel was founded in 1940 and acquired by wesco in 1979 . ms property company which owns commercial real estate in pasadena . references edit cenfed on a roll as its rivals suffer in l.a. downturn http joekusnan.tumblr.com post 7113195673 charlie mungers last meeting http www.wescofinancial.com wesco % 20berkshire % 20joint % 20release % 206.23.11.pdf v t e berkshire hathaway board of directors warren buffett chairman and ceo charlie munger howard graham buffett susan decker bill gates david gottesman charlotte guyman donald keough thomas murphy ronald olson walter scott jr. insurance applied underwriters berkshire hathaway assurance berkshire hathaway homestate companies kansas bankers surety company berkshire hathaway specialty insurance boatus central states indemnity gateway underwriters agency geico gen re medical protective national indemnity company guard insurance seaworthy insurance company united states liability insurance group materials and construction acme brick benjamin moore & co. charter brokerage clayton homes international metalworking companies johns manville lubrizol marmon marmon herrington procor union tank car company mitek mouser electronics precision castparts corp. shaw industries tti furniture cort business services jordan s furniture larson juhl nebraska furniture mart rc willey home furnishings star furniture apparel brooks sports fruit of the loom russell vanity fair fechheimer brothers garanimals h.h. brown shoe group acme boots justin brands louis transportation berkshire hathaway automotive burlington northern santa fe corporation flightsafety international forest river marquis jet mclane netjets netjets europe utlx xtra lease food ctb international international dairy queen dairy queen karmelkorn orange julius kraft heinz the pampered chef see s candies media the buffalo news business wire bh media bristol herald courier culpeper star exponent the daily nonpareil danville register & bee dothan eagle eden daily news the eagle enterprise ledger grand island independent hickory daily record independent tribune jackson county floridan kearney hub martinsville bulletin the morning news nelson county times news & record news & messenger north platte telegraph omaha world herald opelika auburn news the press of atlantic city roanoke times richmond times dispatch star herald statesville record & landmark the daily progress the free lance star the mcdowell news the news & advance the news herald the news virginian the reidsville review tulsa world waco tribune herald winston salem journal york news times wplg jewelry ben bridge jeweler borsheim s fine jewelry helzberg diamonds richline group scott fetzer campbell hausfeld ginsu kirby world book encyclopedia energy midamerican energy company nv energy pacificorp northern powergrid calenergy generation kern river gas transmission company northern natural gas homeservices of america other duracell oriental trading company related articles blue chip stamps wesco financial owned assets category retrieved from https en.wikipedia.org w index.php title wesco financial & oldid 742936259 categories berkshire hathawaycompanies formerly listed on the american stock exchangeinsurance companies of the united states navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages deutsch edit links this page was last modified on 6 october 2016 at 19 09 . text is available under the creative commons attribution sharealike license ; 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