Archrock Inc
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Energy : Energy Equipment & Services | Small Cap Value
Company profile

Archrock, Inc. is an energy infrastructure company with a pure-play focus on midstream natural gas compression. The Company is a provider of natural gas compression services to customers in the oil and natural gas industry throughout the United States, in terms of total compression fleet horsepower and a supplier of aftermarket services to customers that own compression equipment in the United States. The natural gas that it helps transport satisfies demand from electricity generation, heating and cooking and the industrial and manufacturing sectors. It has two segments. Its Contract Operations segment is comprised of its owned fleet of natural gas compression equipment that it uses to provide operations services to its customers. Its Aftermarket Services segment provides a full range of services to support the compression needs of its customers, which owns compression equipment, including operations, maintenance, overhaul and reconfiguration services and sales of parts and components.

Closing Price
Day's Change
0.07 (0.88%)
B/A Size
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(Heavy Day)

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Call to split Berkshire chairman, CEO roles 'most ridiculous criticism I've ever heard': Charlie Munger

12:01 pm ET April 30, 2022 (MarketWatch)

Berkshire Hathaway Inc. (BRKA)(BRKA) Vice Chairman Charlie Munger underlined his opposition to a proposal that would force Warren Buffett to give up his role as chairman of the conglomerate. Backers of the proposal "have some professor somewhere who thinks American businesses run better if" the CEO and chairman roles are split in two, he said at Berkshire's annual meeting. "To me, it's the most ridiculous criticism I ever heard," Munger said. It's as if the ancient Greek hero Odysseus returned home only to be told by someone they didn't "like the way you were holding that spear when you won that battle," he said. A proposal from the National Legal and Policy Center calls for an independent chairman, saying that the roles are "greatly diminished" when held by one person. Buffett became CEO of Berkshire in 1965, and has been chairman since 1970. Under the proposal, Buffett could continue to serve as CEO. The proposal, which has been endorsed by CalPERS, the country's largest state public pension fund, is opposed by Berkshire's board and is expected to fail.

-William Watts


(END) Dow Jones Newswires

April 30, 2022 12:01 ET (16:01 GMT)

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