Warren Buffett to visit Mount Vernon
Billionaire Warren Buffett is scheduled to visit Mount Vernon tomorrow, dropping in on the former Michael Anthony Jewelers that, through a chain of acquisitions in recent years, is now owned by Buffettâ€™s Berkshire Hathaway Inc.
Buffett will do a ribbon-cutting with Mayor Clinton D. Young at the business, now called Richline Group, at South MacQuesten Parkway, said Mark Hanna, Richlineâ€™s chief marketing officer. Buffett will later tour the facility, chat with a few employees, and pose for some pictures, Hanna said.
â€œEverybody is very, very psyched up about it,â€ Hanna said. The office employs more than 300.
Publicly-held Michael Anthony Jewelers was acquired in 2005 by Bel-Oro International, a Manhattan-based distributor of fine jewelry. Last year Berkshire Hathaway bought Bel-Oro and another jewelry company, Aurafin LLC, and combined them into Richline Group.
Hanna said the Mount Vernon office is the Northeast headquarters for Richline, which also has administrative offices in Tamarac, Fla. Anthony Paolercio, formerly co-chairman and chief executive at Michael Anthony, is now executive vice president of manufacturing and works out of the Mount Vernon office.
Manufacturing that was done in Mount Vernon is now done overseas, Hanna said.
Buffett is Berkshire Hathaway’s chairman and chief executive.