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Demand For Warren Buffett's Company Crashes By 71% As Charity Lunch Raises Least In 6 Years
Demand for Warren Buffett, the investor, peaked in 2012 when an anonymous donor bid $3,456,789 for the annual Glide Foundation's eBay lunch with the Octogenarian of Omaha. Demand for Warren Buffett, 82, the Obama tax and fairness advisor, however, is a mere fraction as the stunned Glide Foundation found out last night when the final bid for the "Power Lunch for 8 with Warren Buffett to Benefit GLIDE Foundation" auction closed at the lowest possible 6 digit increment, or an embarrassing $1,000,100. This was the lowest demand to have lunch with Buffett since 2007. This is a stunning result considering that with every passing year, for obvious reasons, the likelihood of many more such "power lunches" drops exponentially. We hope Buffett-demand is not a proxy leading indicator for the stock market or else a 71% plunge is coming.
The San Francisco Business Times reports on the stunned response:
Glide stunned as Warren Buffett lunch raises just $1 million
The last few minutes of bidding for the annual charity lunch with Warren Buffett are normally happy ones for supporters of San Francisco's Glide Foundation.
In recent years, last-minute bidding has regularly pushed the price to record levels. Last year's lunch for eight almost tripled in the final minute of bidding, closing at $3.46 million.
With bidding nearing the $1 million mark by mid-afternoon Friday, expectations ran high that the lunch with the Berkshire Hathaway Chairman and CEO could cross $4 million for the first time.
But as the auction closed at just $1,000,100, some attending the invitation-only countdown party at Restaurant Lulu in San Francisco could be heard speculating that a glitch must have occurred. At the party, I asked Alan Marks, eBay's communications chief, about the possibility of a glitch. He defended the integrity of the auction.
As for the identity of the winning bidder, a Glide spokeswoman said late Friday, "The bidder wants to remain anonymous, at least for now."
Glide founders, the Rev. Cecil Williams and his wife Janice Mirikitani, tried to put a brave face on the disappointing amount raised.
"A million dollars is nothing to sneeze at. Thank you very much," Mirikitani told Glide supporters.
But shortly after the auction closed, Williams told me there will likely be budget cuts as a result of the auction. Glide's annual budget is reportedly about $17 million, so last year's lunch accounted for about 20 percent of the budget. Williams wasn't sure what areas of Glide's services providing food and shelter to the less fortunate would be cut.
Frankly we are shocked they didn't blame the sequester for this humiliation. That or balmy bay area weather.
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The sooner that POMO-loving closet homo exits the public arena the better. So damned sick of having to listen to liberal idiots at work tell me "But Warren Buffet said.."
I would rather have stock picks from Hulk Hogan that Buffet!
The National Enquirer went on to say that the Glide Foundation, a not for profit established in 1995 with the objective of making the private sector taxpayer seem to take less notice of the multitude of fistings by an ever increasingly intrusive government, has not in the past but is considering in the future in order to reap the benefits of greater contributions for increasingly necessary amounts of Astro-Glide and KY Jelly, consider auctioning off an hour in a run down, disgustingly dirty, seedy Castro district hotel with Ms Quick.
Ms Quick's press representative was quoted a saying "I want to be quick to point out that "Bucky", as her close friends refer to her, would not be willing to engage in any such efforts unless accompanied by her dirty old uncle "Wurn" who recently paid for her new orthodontia.
When reached for comments, Wurn's press secretary was quoted as saying "Bite me." while wiping a large gooey green booger in the front of her blouse.
I would only bid if it stipulated that I get to beat him to a bloody pulp
Corruption is no longer popular?
doesn't that chart show a reversion to the mean
If you think you need to waste money at a lunch with the Orifice of Omaha to curry favor or get some inside skinny you are the proverbial mark at the poker table.
Genius knukles, genius
Oh fuck here comes another bail out for Buffett and another print from the Fed.
the avuncular face of buffett has been the face of the evil behind Wall Street. Play in the casino and one day you will wake up in the middle of a very dark room and see the real face behind the avuncular shill.
Another indication that more people are "getting it".
"Avuncular" face of the devil. F him.
<-- GETCO's CEO ?
<-- Berkshire Hathaway's CEO ?
Buffett is such a disgusting hypocrite...
He says he needs to pay more taxes, yet he has his teams of high-priced lawyers continually in tax court arguing for every tax deduction and tax loop-hole he can dream up!
You want to pay more taxes, Warren?
Pick up a damn pen and write a check to Uncle Sam - no one is stopping you!
I bid $10 to be in line to piss on his grave after he takes his well deserved dirt nap. Hopefully he will burn in hell.
not so sure - when you make a pact with the devil, clause 13(a) subsection 2 probably allows you to take all your money with you.
Can't Buffett just donate some of his billions, why does he have to auction from someone else?
PONZI scripture calls it PHILANTHROPY. And philanthropy works just like insurance.
Trying to figger out how the "winner" remains anonymous. Did he phone in the bid? I don't run in these rarefied circles so I remain clueless about the details of this auction -- and many other things.
Warren Buffett and Barack Obama are awesome 'shuck and jive' hucksters
shuck and jive - Not the whole truth; or manipulating something to get it your way.
We Misunderstood Barack: He only wanted the Domestic Surveillance to be Made Legal, not to End It http://bit.ly/15WB4f8
I decided not to join him for lunch because last time he failed to distinguish between his salad fork and main course fork, exposing him as little more than a barbarous relic.
For that kind of $ can Uncle Warren get Becky Quick to toss my salad?
Becky QuickAsShit comes between the dessert and cheese courses.
You mean tossed-up my lunch just thinking about Warren "The Wrinkle" Buffet slathering all over Becky's faintly-perky ice cream cones...
As long as she doesn't squirt on my strawberry cheesecake, I'm good.
"Table service" for an additional donation.
Damn Becky, you coughed up almost 3.5 mil last year. Does Warren not have time for a bubble bath after lunch this year?
This is with Charlie Forumunger sitting in the back wearing a Groucho Marx get up hitting the bids. Looks like Charlie and Warren will be sitting across the table from each other drooling in their stewed prunes again this year and Obama in his butler costume picking up the dropped spoons.
Sorry for OT: According to German daily FAZ Draghi and the ECB have limited their dubious OMT program (that might never see daylight) to €524B which will be disclosed during the upcoming hearing at the German constitutional court next week (June 12th).
This amout will be large enough to save...well...half of Spain.
Who the fuck is the Glide Foundation?
a gobal Lube conglomerate
...that pays the dear pastor and his wife about 1/4 mil a year for their tireless efforts
Perpetual California charitable trust:
http://www.glidefoundation.org/
Do they accept bitcoin?
Looks like Berks Hire needs new berks to hire....
The old berks look jaded...
For those who don't know what a Berk is, this will explain:
http://en.m.wiktionary.org/wiki/berk
Rumor has it that he is excluding the bubble bath from the lunch date....
Isn't selling yourself 'prostitution'?
This bid looks like it might have been generated by a computer. I wonder if Warren realizes he's having lunch with an HFT algo?
What gives? I'm trying to upvote this hilarious but sad-because-it's-true comment and it won't work.
Probably because the comment starts with an italic font or non-alphanumeric character like $.
I suppose it's possible WB could go bidless...and then he - uhh - dies?
When every index, every price, every "value" is rigged, and when every market participant's results are the outcome of central planning intervention anyway, what's the uniqueness, what's to be gained, in lunching with one of them...?
Warren Buffett is completely full of shit.
Time for him to expire.
Yer missin out, Ensure on a stick for dessert...
With an enema chaser
in Illinois?
......wanna wanna wanna enema....(drum riff)
(Courtesy Frank Zappa)
I don't care how rich these people are, are they fucking insane?
I wouldn't pay 1 cent to have lunch with that geezer.
What have we come to? $1M for charity is condidered a huge dissapointment. Besides, fuck Buffett and Munger.
Warren needs to retire and start a new hobby. I was thinking Hollywood cartoon animal voice-overs. He would make a great "Winnie the Pooh".
Take a bath, Bitch.
Warren bails on Consumer Staples and the indexs hang a rat. Who needs lunch?
Presented without comment:
R. Ted Weschler, 50, has been a director of WSFS Financial Corporation since 2009. His current term expires at the 2013 Annual Meeting of Stockholders. He also served as a director of WSFS Financial Corporation from 1992 to 2007. Since early 2012, Mr. Weschler has served as an investment manager of Berkshire Hathaway. [Forbes]
I hope the winner pays the SOB $1,000,100 with gold CRIMEX warehouse receipt.
Oh, this shit is funny :)
Are they all too busy being greedy when others are fearful or are they all too busy proselytising fair tax for others but not, of course, from themselves?
Grandpa.. I slipped a email under your pillow. Didn't you read it??? Some middle eastern guy was rambling about something.
The Present Silk Road Strategy
Zero Privacy|The King’s Privacy Versus The Peasant’s Privacy
Suspect Legatus will be dining early this year. The whole Draghi social climate change unrest seems like a pilgrimage detour in Rome.
I won't pay for lunch with someone needing a sippy cup, bib and Depends.
In what world is over $1 million a " 6 digit increment"???
Paying excessivle for lunch with Buffett is like paying for a Tyson fight. Both could end in seconds. Tyson can knock the opponent out in the ring and Buffett could get knocked out at the table within 1 minute. The poor billionaire is 82. God save him.
Bono singing must have scared everyone away!
Silly cunt...
Still quite pricey for sharing a serving of Ensure with a raisin.
Weren´t some WTC personalities absent on 9/11, 2001 on some Buffett event?
9/11 was fantastic for insurers, they took an initial hit but then premiums
skyrocketed. Follow the money.
Where Was Warren Buffet On 9/11?
Suprisingly some of the embedded links there are now dead.../s
Winning bidder identified: Charlie Munger.
The man belongs in a museum next to the fiat currency exhibit and the death-by-democracy memorial.
The day he kicks the bucket you'll see them show up for the carcass.
People want to meet an actual Rothschild, not merely one of their bagmen. Preferably while the Rothschild is on a Catherine wheel with a pear of despair up his rectum.
Don't eat-out as much as I used to...
..still, $1,000,100 does seem a tad on the high side for a buffet-lunch.
I assume that includes tip and - if it's in NYC - City Tax, State Tax, Bloomberg trans-Fat tax, Bloomberg Salt Is Bad For You Tax, Bloomberg Big-Gulp Soda Tax... and other sundry tariffs, fees, surcharges & penalties that might have accreted to the NY Dining Experience in my absence..
$1,000,100 winning bid to have lunch with Buffett...
and $2,000,200 was the winning bid to NOT have lunch with Buffet.
Turns out the secret sause wss Fed bailouts. Buffet is a hack who would have gone out of business in 2009.
The formula for fascism is become more widely understood. Thus, the demand for his wisdom is decreasing.
Formula:
1. Cozy up to Washington Insiders,
2. Buy companies that will benefit from future legislative changes (be it, foreign trade, or domestic constraints or opportunities)
3. buy the politicians to make the changes.
4. Reap the ROI. Pay your shareholders just barely enough to make them think they really are "part suckers (I mean) owners"
fascist formula completed.
Warren Buffet? The epitome of everything that's wrong with the American economy and the rich. This old codger needs to choke on a f'ing meatball and die already. Take his wealth and spread it out among the coffers of the American people i.e. public works. Bridges, roads, national/state parks, etc. This needs to be done with all these stupid rich do nothings that just hoard wealth and become a leech on society. Ted Turner, Richard Bronson, Trump.