Adolphus Green was the genius that founded the modern day Nabisco, which was known as the “biscuit trust” after J.P. Morgan combined much of the nation’s bakeries under a single entity that Green controlled. He is responsible for most of the snacks America has enjoyed for generations. The thing that impressed me most about Adolphus…
Following up on the article I wrote about cigarette market share in the United States, I thought this was a great story about the legendary employee stock ownership culture at Reynolds Tobacco back in the first half of the 20th century. It comes from Barbarians at the Gate: The Fall of RJR Nabisco, which you should buy. It explains how R.J. Reynolds almost forced his employees to buy stock in the company and even created a special class of dividend shares for them!
Four Companies Control 94.8% Market Share of the Domestic Cigarette Industry in the United States On this blog, in my articles, and even in my books, I have often used the example of how capital allocation determines the wealth one ultimately has. Many times, I used the illustration of a married couple, both of whom…
Given my two Wal-Mart inspired articles a few days ago, I thought this was germane. [mainbodyad]Wal-Mart is ending its profit sharing plan and upgrading it to include a $1,000 contribution to employee health care accounts so there is a greater cushion before workers have to pay medical deductibles plus moving to a system whereby they…
Sam Walton’s heirs have an estimated net worth of more than $90 billion. To put that into perspective, the Walton family is as rich as Bill Gates and Warren buffet combined. Virtually all of this wealth came from Wal-Mart Stores, Inc., the publicly traded company that operates as the world’s largest retailer, bringing in a…
When you hear the name Bill Gates, what do you think? Microsoft. At least, that is what comes to mind for most people. It makes sense. After all, Bill Gates owns 620,973,551 shares of Microsoft. At today’s market price of $24.38 per share, this puts the pre-tax value of his holdings in the software giant…
Due to our disciplined value investing philosophy, coupled with our insistence upon diversification of income and assets, we haven’t experienced a lot of big losses. When we do, we try and study what went wrong so we can understand if there was a structural problem or a blind spot in our mental cognition that should be avoided in the future. We never want to have to “return to Go” in Monopoly terms. That is just intelligent portfolio management.
The manufacturing sector in the United States generates the same inflation-adjusted profits it did in 1960. Surprised? Here is a look at the numbers.
Coco Chanel was able to launch her business by partnering with financier Pierre Wertheimer. She ended up with 10% and creative control, her friend, Théophile Bader, owned 20%, and Wertheimer owned 70%. She came to resent the arrangement.
