First-class ticket to ride

There was a time, apparently, when it was considered appropriate to dress to the nines to visit an amusement park, and that time was in the middle to late 1950s:

Advertisement for Berkshire Carnival Colors

I wonder if they actually shot them right-side-up and then flipped the photo.

By the spring of 1959, Carnival Colors had expanded to Orange Pop and Merry-Go-Round Yellow; the Steeplechase Green apparently fell by the wayside.

In 1955, Berkshire Fine Spinning Associates and Hathaway Mills had merged. Seven years later, this happened:

In 1962, Warren Buffett began buying stock in Berkshire Hathaway after noticing a pattern in the price direction of its stock whenever the company closed a mill. Eventually, Buffett acknowledged that the textile business was waning and the company’s financial situation was not going to improve. In 1964, [BH chairman Seabury] Stanton made an oral tender offer of $11 1/2 per share for the company to buy back Buffett’s shares. Buffett agreed to the deal. A few weeks later, Warren Buffett received the tender offer in writing, but the tender offer was for only $11 3⁄8. Buffett later admitted that this lower, undercutting offer made him angry. Instead of selling at the slightly lower price, Buffett decided to buy more of the stock to take control of the company and fire Stanton.

By the spring of 1965, Buffett owned all of Berkshire Hathaway, and in 1967 he started buying, um, other things.





1 comment

  1. jsallison »

    8 November 2014 · 3:19 pm

    judging by the hair I’d say they’re at least partially inverted.

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