After 72 years, the U.S. Census Bureau today released data from its decennial count in 1940. The release includes a fascinating graphic about how Americans have changed over time. Here’s just one section, comparing our workforce:
There’s much more in the graphic: housing, demographics, etc. Check it out.
The value of a college education is not the learning of many facts but the training of the mind to think.
“I prayed to Jesus, Mohammed, Moses, Buddah… ‘someone get my ass out of here” - Amazing story of American Heron Tibor Rubin. - via @vrikhter
Written by David Oglivy in 1935 - he sold ovens door-to-door before founding Oglivy & Mather. Easily one of the best sales guides I’ve ever read.
A few random gems from Warren Buffett’s letter to shareholders in the 2011 Berkshire Hathaway Annual Report (in no particular order). What I would give to compete in the Newspaper Tossing Challenge.
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On Putting your Money where your Mouth is
The annual meeting will be held on Saturday, May 5th at the CenturyLink Center (renamed from “Qwest”). Last year, Carrie Kizer debuted as the ringmaster and earned a lifetime assignment. Everyone loved the job she did – especially me.
Soon after the 7 a.m. opening of the doors, we will have a new activity: The Newspaper Tossing Challenge. Late last year, Berkshire purchased the Omaha World-Herald and, in my meeting with its shareholder-employees, I told of the folding and throwing skills I developed while delivering 500,000 papers as a teenager.
I immediately saw skepticism in the eyes of the audience. That was no surprise to me. After all, the reporters’ mantra is: “If your mother says she loves you, check it out.” So now I have to back up my claim. At the meeting, I will take on all comers in making 35-foot tosses of the World-Herald to a Clayton porch. Any challenger whose paper lands closer to the doorstep than mine will receive a dilly bar. I’ve asked Dairy Queen to supply several for the contest, though I doubt that any will be needed. We will have a large stack of papers. Grab one. Fold it (no rubber bands). Take your best shot. Make my day.
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On Honesty
Last year, I told you that “a housing recovery will probably begin within a year or so.” I was dead wrong.
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On Goal-Setting
We now have eight subsidiaries that would each be included in the Fortune 500 were they stand-alone companies. That leaves only 492 to go. My task is clear, and I’m on the prowl. —
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On Boards
The primary job of a Board of Directors is to see that the right people are running the business and to be sure that the next generation of leaders is identified and ready to take overtomorrow.
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On the Housing Market:
Early in a recession, household formations slow, and in 2009 the decrease was dramatic.
That devastating supply/demand equation is now reversed: Every day we are creating more households than housing units. People may postpone hitching up during uncertain times, but eventually hormones take over. And while “doubling-up” may be the initial reaction of some during a recession, living with in-laws can quickly lose its allure.
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On Accounting
Certain shareholders have told me they hunger for more discussions of accounting arcana. So here’s a bit of GAAP-mandated nonsense I hope both of them enjoy.
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On Inflation
“In God We Trust” may be imprinted on our currency, but the hand that activates our government’s printing press has been all too human.
High interest rates, of course, can compensate purchasers for the inflation risk they face with currency-based investments – and indeed, rates in the early 1980s did that job nicely. Current rates, however, do not come close to offsetting the purchasing-power risk that investors assume. Right now bonds should come with a warning label.
The second major category of investments involves assets that will never produce anything, but that are purchased in the buyer’s hope that someone else – who also knows that the assets will be forever unproductive – will pay more for them in the future. Tulips, of all things, briefly became a…
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Burning Man 2011 X Dr Seuss = BEAUTIFUL
You’re off to great places, today is your day. Your mountain is waiting, so get on your way!
“Bagels and Brooklyn go hand in hand. Used to be bagels, Brooklyn and the Dodgers. But we still have Brooklyn and the bagels.”
I hope you are ready to watch the greatest video on the Internet.
[via windsorterrace]
Amazon Letter to Shareholders, 1997 (IPO year). Too many gems to quote any one.
-via Business Insider
Dance Number of the Day: Alex Yde introduces the world to “yoga breakdancing” while AWOLNATION sails away in the background.
[thd.]
Schultz is back with Big Idea No. 2. It is every bit as idealistic as his first big idea, but far more practical. Starbucks is going to create a mechanism that will allow us citizens to do what the government and the banks won’t: lend money to small businesses. This mechanism is scheduled to be rolled out on Nov. 1. This time, Schultz is not tilting at windmills.
We Can All Become Job Creators - NYTimes.com
A CEO of a public company thinking innovatively and doing good things. More, please.
(via shripriya)
“If you study the root causes of business disasters, over and over you’ll find this predisposition toward endeavors that offer immediate gratification. If you look at personal lives through that lens, you’ll see the same stunning and sobering pattern: people allocating fewer and fewer resources to the things they would have once said mattered most.”