Comments on: Teflon Buffett http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: site http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/comment-page-1/#comment-53235 Sun, 28 Sep 2014 18:09:20 +0000 http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/#comment-53235 Reporters tried to interview the Ying Ying, but all immersed in the new joy in the hope to keep some personal space, did not accept interview

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By: SelenesMom http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/comment-page-1/#comment-10536 Wed, 30 Dec 2009 00:49:06 +0000 http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/#comment-10536 Personally, I have a lot of admiration for Buffett. But I doubt the housebound seniors who aren’t getting their Loaves and Fishes meals any more do, and I have to wonder if that was really necessary. Also, it’s not a linear increase in productivity, since you have a hit to morale.

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By: DanHess http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/comment-page-1/#comment-10494 Mon, 28 Dec 2009 19:30:27 +0000 http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/#comment-10494 “Last I checked, Warren Buffet is a businessman. He doesn’t claim to be a jobs program. And yet he does create and sustain many”

Right on! It sounds really syrupy, but he is a hero! He feeds us (McLane’s, Dairy Queen, See’s candies), clothes us (Fruit of the Loom, H.H. Brown, Justin Brands, Garan), houses us (Acme Brick, Clayton Homes, HomeServices of America) and powers us (MidAmerican Energy). He insures us, provides us with jewelry, paint, carpet, machine tools, furniture, flight school, boats, RVs, many sources of news, and heaven knows what else.

He’s got to run a tight ship to keep all that going.

That said, I sure would enjoy it if he would put the smackdown on Goldman, mainly because I consider them to be so smart and talented and it’s a waste when so much of their efforts go to win-lose activities (high frequency trading, arbitraging cheap government financing against other government-backstopped assets) when they could be involved more in the win-win activities of building and growing businesses.

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By: SelenesMom http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/comment-page-1/#comment-10487 Mon, 28 Dec 2009 18:28:35 +0000 http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/#comment-10487 Can we make that almost-universally? Nigel Jacquiss (I think he’s still the only investigative reporter to win a Pulitzer for work written at a weekly paper) has some good reporting on Buffett’s lobbying efforts in Oregon here http://blogs.wweek.com/news/2007/05/21/w hat-would-warren-buffett-do/ and elsewhere at Willamette Week.

Willy Week also did a piece critical of Buffett for curtailing Pacificorp’s program that let employees volunteer at Loaves and Fishes serving meals to housebound senior citizens on company time. Can’t find the article now (I think it was a Rogue of the Week?) but I’d like to see a follow-up on it — the impression the article gave was that the staffers provided by Pacificorp were the bulk of the volunteers the charity had.

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By: JoeP http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/comment-page-1/#comment-10482 Mon, 28 Dec 2009 17:11:02 +0000 http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/#comment-10482 Last I checked, Warren Buffet is a businessman. He doesn’t claim to be a jobs program. And yet he does create and sustain many more jobs than any bloggers I know of. What standard are you holding him to, Felix? Is it one that you could possibly live up to?

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By: aculeus http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/comment-page-1/#comment-10450 Sun, 27 Dec 2009 14:53:39 +0000 http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/#comment-10450 ABC Television did an expose a few years ago about Kirby Vacuums a company that sells high priced vacuums door-to-door to lower class customers using high-pressure tactics.

The program never mentioned that Kirby is a Buffett company.

Unlike most CEOs Buffett actually owns a significant share in his company and thus benefits every time a Kirby is sold to some sucker by one of his salesmen.

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By: right http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/comment-page-1/#comment-10446 Sun, 27 Dec 2009 07:18:19 +0000 http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/#comment-10446 Seriously? Thousands of people get laid off overseas all the time by US companies and no one reports on it. Doesn’t matter who the CEO is. American press is only worried about American jobs.

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By: DanHess http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/comment-page-1/#comment-10436 Sun, 27 Dec 2009 05:01:33 +0000 http://blogs.reuters.com/felix-salmon/2009/12/26/teflon-buffett/#comment-10436 Buffett generally doesn’t run most of his 50+ subsidiaries and he can’t. He doesn’t have the time or specialization to run most of his businesses. He leaves it to his managers. Good thing too…

In the case of those 3,000 Salvadorian textile workers, that is a situation where Fruit-of-the-Loom is just not getting as many orders as Americans wear shabbier underpants in accordance with the New Normal. Should they have a jobs bank, GM style? We see how that worked out.

I do have gripes with Buffett but not regarding layoffs in a recession. Ever since Buffett aquired a large stake in Goldman Sachs, he has been eerily silent on Goldman’s errors of integrity during the last few years as well as their continuing over-reliance on short term trading and derivatives (this after spending a lifetime teaching his accolytes to be long-term investors and railing against ‘financial weapons of mass destruction’). Worse still, his reputation provides cover for them and helps shield them from proper scrutiny.

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