Warren Buffett Has A Whopping 9,000% Gain On His Washington Post Investment

Warren Buffett Has A Whopping 9,000% Gain On His Washington Post Investment

ROB WILE AUG. 5, 2013, 5:24 PM 5,951 2

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Berkshire Hathaway Chairman Warren Buffett reacts at a newspaper throwing competition before the company’s annual meeting in Omaha, May 4, 2013.

Amazon.com CEO Jeff Bezos just spent $250 million purchasing  The Washington Post. You may recall that Warren Buffett’s Berkshire Hathaway is the largest and among the longest-tenured shareholders in the Washington Post Company, which owns the paper along with a bunch of other stuff including test prep firm Kaplan. (Buffett also served 25 years on the Post’s board, having spent part of his youth in DC.) So, what gains has he seen on the investment? Buffett started accumulating shares in 1973.  As of 2004, he owned 1.7 million shares at a cost basis of $11 million, according to 24/7 Wall Street. According to Berkshire Hathaway’s most recent 13-F, he owns the same amount of shares today. That position was valued at $772 million at the end of Q1. However, the stock has been on a tear, up 55% since the beginning of the year. In after-hours trading, Washington Post Company is at $598, which values Buffett’s 1.7 million shares at $1.01 billion. Assuming the $11 million cost basis holds, that’s a whopping 9,080% return. Wow. Meanwhile, the stock is up about 1.5% after hours Monday.

Being Great At Math Is More Important Than Ever

Being Great At Math Is More Important Than Ever

GREG SATELLDIGITAL TONTO AUG. 5, 2013, 2:38 PM 2,265 1

When media first started going digital, journalists feared that they would be judged by the numbers, rather than on the mastery of their craft.  To a large extent, that actually happened, but it wasn’t so bad after all.  Most were able to adjust. So there was no small amount of irony surrounding the recent high profile negotiations between ESPN and The New York Times over the services of Nate Silver. The stakes were enormous, as Mr. Silver accounted for as much as 20% of the Grey Lady’s web traffic. Math, it seems, has become more than a means to evaluate, but journalism itself.  Whereas before, a reporter’s main tools were sources and shoe leather, now algorithms are on the job too.  Most of all, Nate Silver is a sign of the zeitgeist.  In this new age of big data, math is no longer an ancillary activity, but plays a central role in helping organizations compete. Read more of this post

Leadership Lessons from the Cherokee Nation: Learn from All I Observe

Leadership Lessons from the Cherokee Nation: Learn from All I Observe [Hardcover]

Chad “Corntassel” Smith (Author)

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Publication Date: February 19, 2013

“If you want to be successful, it is this simple. Know what you are doing, love what you are doing. And believe in what you are doing.” — Will Rogers

When Chad Smith became Principal Chief, the Cherokee Nation was a chaotic and dysfunctional entity. By the end of his tenure, 12 years later, the Nation had grown its assets from $150 million to $1.2 billion, increased business profits 2,000 percent, created 6,000 jobs, and dramatically advanced its education, language, and cultural preservation programs.

How could one team influence such vast positive change?

The Cherokee Nation’s dramatic transformation was the result of Smith’s principle-based leadership approach and his unique “Point A to Point B model”–the simple but profound idea that the more you focus on the final goal, the more you will accomplish . . . and the more you will learn along the way. In other words, “look at the end rather than getting caught up in tanglefoot.”

In Leadership Lessons from the Cherokee Nation, Smith combines Cherokee wisdom handed down from generation to generation with a smart leadership approach that takes today’s very real issues into consideration. He explains why this leadership approach works and how you can apply it to your own organization, whether business, government, or nonprofit. Learn all the lessons that drive powerful leadership, including how to:

Be a lifelong learner

Solve problems with creativity and innovation

Recruit and develop strong leaders

Delegate wisely

Act with integrity and dignity

Don’t be distracted from your objective

Lead by example

More than a simple how-to leadership guide, Leadership Lessons from the Cherokee Nation offers a holistic approach to the subject–how to become a powerful leader inside and direct your energy outward to accomplish any goal you set your mind to. Read more of this post

Seeing Narcissists Everywhere; A psychology professor has tapped into a rich vein of popular concern, concluding that people in recent decades have grown more self-centered and entitled. But is it true?

August 5, 2013

Seeing Narcissists Everywhere

By DOUGLAS QUENQUA

From the triumph of Botox to the rise of social networking and soccer teams that give every kid a trophy, Jean M. Twenge is constantly on the lookout for signs of a narcissism crisis in America. Sometimes it gets personal. “I got a onesie as a gift that I gave away on principle,” said Dr. Twenge, 41, a professor of psychology at San Diego State University and a mother of three girls under 7, in an interview at a diner on the West Side of Manhattan. “It said, ‘One of a Kind,’ ” she said, poking at a fruit salad. “That actually isn’t so bad, because it’s true of any baby. But it’s just not something I want to emphasize.” Read more of this post

Hidden Billionaire Bob Piccinini Found With Grocery Chain Fortune in California by exploiting local zoning laws to thwart bigger competitors and acquiring hundreds of low-performing stores from adversaries. “He’s a wheeler dealer. He’s more interested in the deal than he is in running grocery stores.”

Hidden Billionaire Found With Food Fortune in California

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The H Street Save Mart grocery store in downtown Modesto, California, is a throwback to a time before supermarkets enticed shoppers with sushi bars and wine tastings. Here, bare florescent lights reflect off scuffed linoleum floors and a Greek chicken wrap is marred by bits of cartilage. To get into the bathroom, shoppers have to seek out a clerk for a key. This store and 225 similar locations operated by Modesto-based Save Mart Supermarkets have made Bob Piccinini, the company’s 71-year-old majority owner, a billionaire. Since securing control of the company from his family in a 1985 leveraged buyout, Piccinini has expanded Save Mart by exploiting local zoning laws to thwart bigger competitors and acquiring hundreds of low-performing stores from adversaries. Read more of this post

Former Arm chief Warren East taking up his first directorship at Dyson; “Dyson is a bit like Arm really. They’re two UK companies that compete on a global scale, representing British engineering and design – and being good at it.”

August 5, 2013 12:02 am

Former Arm chief Warren East joins Dyson

By Andy Sharman

Warren East is taking up his first directorship at a UK company since stepping down as chief executive of chipmaker Arm Holdings, by joining the board of Dyson, the innovative consumer goods company. Mr East, who left Arm last month, has been appointed non-executive director at the Wiltshire-based maker of high-tech vacuum cleaners, hand dryers and fans as it seeks to expand in Asia and Latin America. “Dyson is a bit like Arm really,” the 51-year-old said. “They’re two UK companies that compete on a global scale, representing British engineering and design – and being good at it.” Read more of this post

What It’s Like Being a Middle Manager Today; Pushed to Do More With Less, Today’s Midlevel Managers Try to Get By

Updated August 5, 2013, 8:04 p.m. ET

What It’s Like Being a Middle Manager Today

Pushed to Do More With Less, Today’s Midlevel Managers Try to Get By; Loving the Work, but Uncertain Rewards

MELISSA KORN

Middle managers at a range of companies across the country speak about the rewards, frustrations and challenges of life in the middle.

The parking lot at Fair Isaac Corp. FICO +0.89% in San Rafael, Calif., is empty when Michelle Davis pulls in at 6 a.m. For the next 8-½ hours, the 36-year-old analytics director will shuttle through nearly back-to-back meetings at FICO, a company best known for calculating consumer credit scores. At 2:30 p.m., the mother of three will leave work to pick up her children from summer camp. Technically, she’s off the clock, but she’ll keep an eye on her BlackBerry long into the night. Welcome to middle management circa 2013. Fourteen years into her career at FICO, Ms. Davis is sandwiched somewhere between senior leadership and the front lines, overseeing three direct reports along with three other subordinates. Her job affords her the freedom to run projects and pitch new ideas, but it’s not without constraints. Like her midlevel peers in retail, technology and other industries, she has many duties but little authority, people to please both above and below, and days when her schedule is just barely under her control, filled with meetings or consumed with sudden crises. Read more of this post

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