Soso 64 dating berkshire online dating girls tamilnadu
By April 1965, BPL owned 392,633 shares (out of 1,017,547 then outstanding) and at an early-May board meeting we formally took control of the company.Through Seabury’s and my childish behavior – after all, what was an eighth of a point to either of us?During the seven years following the consolidation, Berkshire operated at an overall loss, and its net worth shrunk by 37%.Meanwhile, the company closed nine plants, sometimes using the liquidation proceeds to repurchase shares. I purchased BPL’s first shares of Berkshire in December 1962, anticipating more closings and more repurchases.(A tiny sister company was also included in the deal.) Insurance was in my sweet spot: I understood and liked the industry.Jack Ringwalt, the owner of NICO, was a long-time friend who wanted to sell to me – me, personally. So why did I purchase NICO for Berkshire rather than for BPL?I answered .50, and he said, “Fine, we have a deal.” Then came Berkshire’s letter, offering an eighth of a point less.
The full million was required by the textile operation: The company had no excess cash and owed its bank .5 million.I’ve broken this up into three parts: Buffett’s letter, Charlie Munger’s letter, and their report on Berkshire’s 2014 performance.As you read these below, do keep in mind that the reason they write this is to (1) sell Berkshire Hathaway stock (BRK-B for most of us) and (2) sell themselves to the owners and managers of companies which Berkshire might be interested in acquiring in the future, but otherwise enjoy the wisdom that they each have to share after 60 years in business and investing.Berkshire thereafter stuck to the script: It soon closed another two plants, and in that May 1964 move, set out to repurchase shares with the shutdown proceeds.The price that Stanton offered was 50% above the cost of our original purchases.
With its fourteen plants and 10,000 employees, the merged company became the giant of New England textiles.