The SnowBall: Warren Buffett and the Business of Life, by Alice Schroeder, (New York: Bantam Dell Books, 2008), 837 pages, $35.00. The Snowball begins in 1999 at a Sun Valley conference: an annual series of discussions and seminars. We hear a new term “elephant-bumping,” a quip defined by Buffett as getting big shots together to reassure them they are really big shots. Readers begin by meeting Buffett at retirement age and get the highlights of his conference presentation, where he confronts the big shots with some financial ideas they do not all...
Friday, 29 May 2009
Tuesday, 26 May 2009
Banks and Bailouts
Posted on 11:21 by Unknown
First published on automaticfinances.comBanks keep making news. One caption in the April 18th Washington Post reads "Bank Profits Mask Peril Still Lurking." Readers learn the biggest of America's banks like Citigroup and J. P. Morgan Chase are reporting large first quarter profits, but remain pessimistic about their future and the future of the economy.The Federal government has been bailing out the nation’s banks since last summer, handing out billions in emergency reserves with as many as 500 banks mentioned, always with a press release telling...
Thursday, 14 May 2009
Henry Ford and Mass Production
Posted on 11:25 by Unknown
First published in the pulsereview.com April 24, 2009Mass production needs mass markets. It’s not a new idea. Back in 1914 Henry Ford opened his Model T auto plant using the assembly-line method; a new invention at the time. To the anger and indignation of the nation’s business community, he offered the unheard of high wage of $5 a day.Apparently he knew he would be producing more cars than Americans could buy, but the higher wage would help him sell what he could produce. Now, almost a hundred years later, America can produce millions of new cars...
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