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Berkshire Hathaway Inc. Message Board

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  • bobo21029 bobo21029 Aug 25, 1999 1:17 PM Flag

    When the bubble bursts...

    ......."How does Dairy Queen or selling shoes fit
    with GEICO and General Re??? "......I went thru the
    conglomerate thing back in the 70's ..........worked for an
    outfit that made beer bottles, multi-wall bags, paper
    cups,plactic containers, hi-cone carriers,corregated
    pasteboard,wine glasses, owned sugar
    plantations,railroads,timberland and of all things a salmon fishing camp in
    Iceland........the company was Owens-Illinois and they were a Dow
    component.......they weren't the only company back then worshiping at
    the altar of diversification either.......Gulf and
    Western comes to mind.........eventually though, sooner
    or later conglomerates had to decide : What is our
    core business? What's the one thing we do
    best?.......then the smart ones spun off their non-core divisions
    and got back to basics..............well I want
    Buffett to get back to basics.........get back to doing
    what he does best.........buying stock in undervalued
    companies....get the hell out of cheap shoes, get the hell out of
    rag tag fast food with dirty rest rooms, and get the
    hell out of insurance...the GenRe deal has been a
    Goddamned fiasco.....you show me a more erratic 12 month
    chart in the history of the company.....this is one
    beat that's gone on long enough!........p.s...angry
    rant to follow!

 
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