retail-worker.com        I love the smell of commerce in the morning!
Log in FAQ Forum Index
Not sure what to say....
   Forum Index -> Behind the Banter
View previous topic :: View next topic  
Author Message
Magnolia


Joined: 26 Aug 2005
Posts: 1700
Posted: Mon Dec 29, 2008 10:35 pm    Post subject: Not sure what to say....  
Warren Buffett Wins $224 Million Bet With Florida


http://www.huffingtonpost.com/2008/12/29/warren-buffett-wins-224-m_n_154036.html
Back to top
Nofsdad


Joined: 06 Jul 2003
Posts: 8212
Location: Central CA
Posted: Mon Dec 29, 2008 10:56 pm    Post subject:  
I'm with the one commenter... I think he might give it back. Otherwise, he makes a mockery of all that "astonishment" that clerks in his employ pay more taxes than he does and starts looking like a just as greedy (but smarter) version of Eddie Lampert..
Back to top
bc5yr


Joined: 24 Feb 2005
Posts: 545
Posted: Tue Dec 30, 2008 4:21 am    Post subject:  
LOL..... Buffet's not going to return the money. What ever gave you a clue that he wasn't a greedy bastard? He's just a nice guy in public so everyone likes him.

Bill Gates on the other hand is a truly nice guy and philanthropist., He made his money by using his brains and his hands. He made a better mouse trap.
Not by playing the odds., or betting on something.

Buffet made his money on investing., not by building anything or building a better mouse trap. BERKSHIRE HATHAWAY, was a company that manufactured things. Buffet bought it and closed it down, because it was a losing proposition. Buffet has been and always will be a Wall Street guy. The kind people really are sick of.

If you read the HISTORY of this company you find is was a textile company.
http://en.wikipedia.org/wiki/Berkshire_Hathaway

This will probably be the fate of Sears. Sears is a HOLDING company., Transformed from the K-Mart HOLDING company.

Quote:
Berkshire Hathaway traces its roots to a textile manufacturing company established by Oliver Chace in 1839 as the Valley Falls Company in Valley Falls, Rhode Island. Chace had previously worked for Samuel Slater, the founder of the first successful textile mill in America. Chace founded his first textile mill in 1806. In 1929 the Valley Falls Company merged with the Berkshire Cotton Manufacturing Company established in 1889, in Adams, Massachusetts. The combined company was known as Berkshire Fine Spinning Associates.[1]
Hathaway Mills, New Bedford, Mass.

In 1955 Berkshire Fine Spinning Associates merged with the Hathaway Manufacturing Company which was founded in 1888 in New Bedford, Massachusetts by Horatio Hathaway. Hathaway was successful in its first decades, but it suffered during a general decline in the textile industry after World War I. At this time, Hathaway was run by Seabury Stanton, whose investment efforts were rewarded with renewed profitability after the Depression. After the merger, Berkshire Hathaway had 15 plants employing over 12,000 workers with over $120 million in revenue and was headquartered in New Bedford, Massachusetts. However, seven of those locations were closed by the end of the decade, accompanied by large layoffs.

In 1962, Warren Buffett began buying stock in Berkshire Hathaway. After some clashes with the Stanton family, he bought up enough shares to change the management and soon controlled the company.

Buffett initially maintained Berkshire's core business of textiles, but by 1967, he was expanding into the insurance industry and other investments. Berkshire first ventured into the insurance business with the purchase of National Indemnity Company. In the late 1970s, Berkshire acquired an equity stake in the Government Employees Insurance Company (GEICO), which forms the core of its insurance operations today (and is a major source of capital for Berkshire Hathaway's other investments). In 1985, the last textile operations (Hathaway's historic core) were shut down.


We are still in the early phases of the transformation... but who knows this depression may have put a new slant on things.


Isn't it also amazing that Warren Buffets. CORE business is the "GOVERNMENT EMPLOYEES INSURANCE COMPANY"? Gee are we supporting him so he can make more BILLIONS to rip us off some more?
Back to top
Nofsdad


Joined: 06 Jul 2003
Posts: 8212
Location: Central CA
Posted: Tue Dec 30, 2008 4:46 am    Post subject:  
Quote:
LOL..... Buffet's not going to return the money. What ever gave you a clue that he wasn't a greedy bastard? He's just a nice guy in public so everyone likes him.

I was being sarcastic BC... and obviously not doing a very good job of it. Mr. Green
Back to top
bc5yr


Joined: 24 Feb 2005
Posts: 545
Posted: Tue Dec 30, 2008 4:52 am    Post subject:  
hehehe...... in writing., sarcasm doesn't come off well., and I'm sick of people saying what a good guy Buffet is. Wow, he bailed out the GE problem... we would be so lost without his 5 Billion investment.etc, ect, etc.... yeah right, that guys a rip-off from the gate.


(edited for punctuation)(No english teacher here but better educated than what we're doing now... I'm old. I'm also tired of the dumbing down of our kids)
Back to top
Display posts from previous:   
   Forum Index -> Behind the Banter All times are GMT
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum




Powered by phpBB © 2001, 2002 phpBB Group
Theme created by Vjacheslav Trushkin