'Berkshire Says Billionaire Haslam Promised Illicit Payments To Juice Pilot's Profit; Truck Stop Mogul Allegedly Offered Executives 'side' Bonuses; Berkshire Claims He Tried To Juice 2023 Earnings For Own Gain' - Bloomberg News



Warren Buffett's Berkshire Hathaway Inc. said the billionaire former owner of Pilot Travel Centers sought to influence Pilot executives' business decisions in order to juice the company's quarterly earnings and pump up the value of his remaining stake in the truck stop chain.

In a court filing Tuesday, Berkshire alleges that Jimmy Haslam, whose family owned Pilot until selling it a controlling stake, launched an "illicit scheme" involving secret pledges of bonuses to 15 senior executives and other managers. He promised millions of dollars in "side payments" to the executives to boost short-term profit at the expense of its long-term value, according to the filing in Delaware Chancery Court. The alleged aim was to raise the value of his 20% stake in the chain.



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