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Weekend with Warren: Brooks Sports CEO Jim Weber on bringing special edition Berkshire sneakers to the shareholder meeting, plus the state of business...
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A little -- them.
-- ever wonder what it's like to be billionaire Warren Buffett are -- issues -- one mutual fund manager at the annual Berkshire Hathaway shareholder meeting once it make that a reality.
Our own that -- claimants.
I think I Omaha Nebraska -- exclusive interview with that manager lives.
You know sales are actually tell us they may disagree with Warren -- on certain things but they're jealous of Warren Buffett because.
Berkshire Hathaway is the only shareholder meeting you guys.
That makes money at a shareholder -- usually shareholder show up these meetings and they're yelling at the C over the people are buying things because Warren Buffett has all of -- some eighty businesses.
Present little -- -- and different little collectibles will be this year I'm joined right now by Jim Weber was the CEO behind.
And that is Brooks.
Sport -- welcome and you have the idea of the year I think -- here and it's the -- -- holding up let's talk a little bit about it before we show you what's on the inside.
We're excited -- this is our first time at the Berkshire Hathaway shareholder meeting and we wanted to take that opportunity to bring them.
One of the best running shoes in the market are best selling to the adrenaline GTS and it's fast so.
And here's why I'm gonna show it to you.
And it was a pretty simple thing and you came up with this idea on the inside -- -- the footage shows a little cartoon of Warren Buffett crossing.
A finish line how much will -- cost how many pairs.
Well we brought 4000 pairs and we're gonna sell it for suggested retail 110 dollars.
Our first choice but to get -- on the treadmill running a five K -- the event but he's a little busy tomorrow so.
We've got the Berkshire -- symbol -- -- it's a special edition Berkshire issue.
And even if you're not running I think a lot of shareholders might want Paris -- 38000.
People are expected -- only -- 4000 parents.
Maybe we'll bring more next year of Astoria that you only ordered originally just a thousand are silent now.
Yeah we didn't know what to expect because it's a lot going on a full meeting tomorrow but we've got great energy around issue.
Once he announced that the annual letter we've been taking phone calls so I think we're gonna sell off but it's only available here -- only here OK let's get to the business aspect of this of the press point of of of about your running shoes is a bit and think again -- specialty and a 110130.
Dollars for the most expensive.
We sell one for a 150 dollars but you know the average that an avid runner will buy 23 pairs here.
So the sweet spot in in performance running shoes is really between a hundred -- 120.
Because running us again again buying several pairs a year or so that's really where the -- -- -- -- good for you last year your sales gains were about 34%.
Higher.
Nothing to sneeze at that's impressive but how is the US consumer from where you -- The good news after the craziness of 2008 coming into 2009.
And is we found people kept running and they kept buying running.
Chief you don't have to belong to a club outlets and investment in yourself it's health wellness fitness you know we're going to be in the London Olympics for -- -- so it's a sport.
But the core of our business is really people investing in their own healthy well lifestyle and boy that's a great business to be and right now we're up 40% first quarter.
Well Warren Buffett when he walks the exhibition -- -- -- we have video of this but he.
Departures across that floor and his stage at age 81 he is pretty active.
Obesity is a massive problem in America it's a huge drag on people's lives their families their own health but also.
Their wallets.
And the health care system -- 110 dollars -- -- what do you say perhaps if there is somebody who is overweight is watching right now what does it mean to their pocketbook if they get healthier.
You know our.
Our mission we dedicate ourselves to inspiring people are run and be active -- and you know -- healthy is about being active you've got to move so you know we can inspire people to literally get off the couch and move.
That's a wonderful thing for us that's what the energy in the spirit of our brand is all about and all you need is a great parishes.
Tim Weber is the CEO of Brooks.
Sports -- company that got absorbed by Berkshire Hathaway when Berkshire bought Russel athletics which also include defer to the loan but I predict that this will be it.
The hot seller and it'll be possibly in the history of this meeting the most expensive hot seller usually it's a monopoly game with.
Warren and Charlie on it but thank you so much for taking you let's -- there and coming up we have another CEO this one.
His business the largest carpet manufacturer.
On the planet he is -- spell of -- -- but also about the business.
How was the residential housing market now it has not come back.
I ask one last night if you would game -- to venture how it's going to do and he said he made the mistake last year thinking that in the year would be better but those prices have not bottom.
Also the big news today that you guys have been covering needless to say is that.
TransCanada is re offering as putting back up the the Keystone Pipeline application we have the governor of Nebraska.
Dave Heineman in a Fox Business exclusive joining us at 4 PM eastern remember.
The big issue with the pipeline affecting environmental issues through this state of Nebraska we'll ask him if the new plan might look better.
Back to you about.
-- -- great stuff.
From Omaha Nebraska --
