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(MSN)   Warren Buffet feels that Capitalism is great when he does it, but not so much when businesses do it   (money.msn.com ) divider line
    More: Ironic, Berkshire Hathaway, Warren Buffett, Omaha, Union Pacific, hospitality industry, shareholders  
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1992 clicks; posted to Business » on 02 May 2014 at 5:20 PM (1 year ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-05-02 04:40:21 PM  
There's supply and demand. Then there is outright gouging.

This is gouging.
 
2014-05-02 04:43:15 PM  
Mr. Buffett urged his acolytes to consider saving a few bucks by booking rooms through Airbnb Inc., the online startup that has become a scourge of the hospitality industry.

Nope. Seems he's just fine with capitalism when businesses do it.
 
2014-05-02 04:54:38 PM  
I'm okay with it.

/Give us more money, you coastal rubes.
 
2014-05-02 04:57:34 PM  
If only there were some way people could choose to meet somewhere where there are lots of hotel rooms available.  Perhaps if one were a multi-billionaire one could even build a series of lodges to house bigwigs forced to land in flyover country.
 
2014-05-02 05:00:40 PM  

Darth_Lukecash: This is gouging.


Not when you consider the means of the people attending.  I wouldn't call it gouging unless at least one high end room went empty.
 
2014-05-02 05:31:06 PM  

Darth_Lukecash: There's supply and demand. Then there is outright gouging.

This is gouging.


Yeah, but you are wrong.
 
2014-05-02 05:40:54 PM  
I see that impaler has already addressed Subby's ignorance of what TFA actually says.

But really, I don't imagine that many people who are going to the BRK shareholder meeting are going to worry about a few hundred bucks.
 
2014-05-02 05:44:15 PM  

Darth_Lukecash: There's supply and demand. Then there is outright gouging.

This is gouging.


If people are willing to pay for it, it's still supply and demand.  "Gouging" just happens when demand is much higher than supply, as in this case.

Besides, it's not like the people who own Berkshire Hathaway stock aren't dirty filthy stinking rich; they can afford it.  This is a bit different than, say, rising the price of gasoline after a storm destroys every other gas station in a 100 mile radius or something.
 
2014-05-02 05:57:38 PM  
Uhm.... I hate to have to be the one to tell you this crymitter but Buffet actually runs a business. It was on the news a few times.
 
2014-05-02 05:57:38 PM  

jst3p: Darth_Lukecash: There's supply and demand. Then there is outright gouging.

This is gouging.

Yeah, but you are wrong.


I can prove I'm right. They only have a 98 percent fill up rate. If the demand was above 100, then the market should kick in. Otherwise, the people would spend more money on other things like bars, restaurants, gift shop crap. Or they'd spend more money around town, dust abutting capital more.
 
2014-05-02 06:06:48 PM  
Gouging? It's luxury hotels. Gouging is what happens during a disaster or something, not a Berkshire Hathaway shareholder convention.
 
2014-05-02 06:13:45 PM  
What are the cheap hotels charging? You don't HAVE to stay in a farking penthouse suite.
 
2014-05-02 06:45:18 PM  

Fubegra: What are the cheap hotels charging? You don't HAVE to stay in a farking penthouse suite.


I've found a La Quinta at 144, Holiday Inn Express at $235, Comfort Suites at $210 tonight, all approx. 8 miles from downtown.  hotels.com has all the 1 stars sold out and 66 two stars sold out.
 
2014-05-02 06:56:30 PM  
Crony Capitalism's days are numbered.   it's not sustainable in the long run.
 
2014-05-02 07:00:09 PM  

Geotpf: Besides, it's not like the people who own Berkshire Hathaway stock aren't dirty filthy stinking rich; they can afford it.


There are hundreds of employees there, and hundreds of employees of the companies Berkshire owns. He's not worried about the shareholders, probably, but is just bummed that thousands of expense reports are being inflated.
 
2014-05-02 07:04:40 PM  

Geotpf: Besides, it's not like the people who own Berkshire Hathaway stock aren't dirty filthy stinking rich; they can afford it.


That only applies to class A shares. You can get a class B share for about $128, cheaper than several of the big-name tech stocks.
 
2014-05-02 07:08:59 PM  
Man those 1%ers are in a tight spot thanks to those other 1%ers. Too bad Buffett is super poor and couldn't just buy the hotels.
 
2014-05-02 07:14:45 PM  
I figured this would be a story on refusing to pay your taxes, like Buffet has for at least a decade.
 
2014-05-02 07:17:24 PM  
I like & approve of gouging, especially when the wealthy are involved. Suck as much cash from their wallets as possible.
 
2014-05-02 07:25:20 PM  
Subby feels that Fark Headline Writin' is fine when he does it,  but not so much when  literate, thinking adults do it.
 
2014-05-02 07:32:37 PM  
Say "fair market rate" in front of any American. They'll look at you like you just spoke Dothraki.
 
2014-05-02 07:52:27 PM  
I'm not going to defend "crony capitalism" but I do want to point out that all economic systems will run up against the problem of people favouring those closest to them, and those best positioned to benefit them back. Quid pro quo and all that. Which is why communism inevitably devolved into dictatorship.
 
2014-05-02 08:08:30 PM  
This happens every weekend around the country when NASCAR comes to town.  The $40 a night flop motel goes for $200 a night, with a multiple night minimum.
 
2014-05-02 08:16:27 PM  

War and Buffet
The John Pinette Story

 
2014-05-02 08:30:37 PM  
The free market in action. What's not to like?
 
2014-05-02 08:38:03 PM  

Nurglitch: I'm not going to defend "crony capitalism" but I do want to point out that all economic systems will run up against the problem of people favouring those closest to them, and those best positioned to benefit them back. Quid pro quo and all that. Which is why communism inevitably devolved into dictatorship.


That's why anyone not stuck in offshoots of feudal oppression knows that a mixed economy with basic income is the next step for humanity.
 
2014-05-02 08:40:15 PM  

Nurglitch: I'm not going to defend "crony capitalism" but I do want to point out that all economic systems will run up against the problem of people favouring those closest to them, and those best positioned to benefit them back. Quid pro quo and all that. Which is why communism inevitably devolved into dictatorship.


Perhaps the entire idea of elevating useful tools like socialism and capitalism to the level of "social systems" is flawed in and of itself. I don't think either one provides an overall blueprint for running society.
 
2014-05-02 08:43:58 PM  

Phil Moskowitz: Nurglitch: I'm not going to defend "crony capitalism" but I do want to point out that all economic systems will run up against the problem of people favouring those closest to them, and those best positioned to benefit them back. Quid pro quo and all that. Which is why communism inevitably devolved into dictatorship.

That's why anyone not stuck in offshoots of feudal oppression knows that a mixed economy with basic income is the next step for humanity.


The trouble begins when people observe that things like socialism and capitalism are useful, and conclude that they should be turned into "systems" for running society.
 
2014-05-02 08:52:30 PM  

jso2897: The trouble begins when people observe that things like socialism and capitalism are useful, and conclude that they should be turned into "systems" for running society.


We're all watched over by machines of loving grace.

http://topdocumentaryfilms.com/all-watched-over-by-machines-of-lovin g- grace/
 
2014-05-02 08:57:35 PM  
Fins to the left, fins to the right, indeed.
 
2014-05-02 09:16:04 PM  

Nemo's Brother: I figured this would be a story on refusing to pay your taxes, like Buffet has for at least a decade.

Lie much?
 
2014-05-02 10:21:13 PM  

impaler: Nemo's Brother: I figured this would be a story on refusing to pay your taxes, like Buffet has for at least a decade.
Lie much?


http://www.newsmax.com/Headline/buffett-irs-back-taxes/2011/09/01/id /4 09520/

Nope. But I don't get all of my news from comedians and cartoons like you obviously do.
 
2014-05-02 10:31:28 PM  

Scrotastic Method: There are hundreds of employees there, and hundreds of employees of the companies Berkshire owns. He's not worried about the shareholders, probably, but is just bummed that thousands of expense reports are being inflated.


I believe Berkshire Hathaway has 24 employees.  That would include Buffett.  And as far as I know, there aren't any significant number of employees of the subsidiaries who attend as a job function.
 
2014-05-02 10:41:08 PM  

Nemo's Brother: impaler: Nemo's Brother: I figured this would be a story on refusing to pay your taxes, like Buffet has for at least a decade.
Lie much?

http://www.newsmax.com/Headline/buffett-irs-back-taxes/2011/09/01/id /4 09520/

Nope. But I don't get all of my news from comedians and cartoons like you obviously do.


What a lying sack of shiat you are. For one news max is full of shiat. 2, Berkshire isn't buffet. 3, Notice What Sparked The Lying scum? Anyway, I'll hand you your ass when the wild game is done and I'm off my phone
 
2014-05-02 10:56:30 PM  
Local businesses are charging exorbitant prices because of unusual demand. Buffett is encouraging the use of another business to reduce those costs for his shareholders, and noting that he can turn off the unusual-demand tap any time he wants. To suggest some of this is "capitalism" and the rest isn't would be nonsensical.

Also, Buffett is known for concern with long-term profitability, and reminding his local dipshiats not to kill their golden goose is entirely consistent with that.

Berkshire B shares are not particularly expensive. No one buying them  right now needs to be "wealthy," let alone anyone who has owned them for any length of time.
 
2014-05-02 11:00:59 PM  
s3.amazonaws.com
 
2014-05-02 11:03:57 PM  
THANKS, OMAHA
 
2014-05-03 12:09:18 AM  

Darth_Lukecash: There's supply and demand. Then there is outright gouging.

This is gouging.


No gouging is when you have no choice but to pay, like extreme local price hikes after natural disasters. This is not the case.
 
2014-05-03 12:19:26 AM  

impaler: Mr. Buffett urged his acolytes to consider saving a few bucks by booking rooms through Airbnb Inc., the online startup that has become a scourge of the hospitality industry.

Nope. Seems he's just fine with capitalism when businesses do it.


Oh, wow, awesome.  Way didn't anyone tell me this site existed?

I'd much rather pay locals for a decent room than the big chains, anyway.

I GUESS THAT'S SOCIALISM.
 
2014-05-03 12:39:45 AM  

phlegmmo: THANKS, OMAHA


+funny
 
2014-05-03 01:04:10 AM  
front.moveon.org
 
2014-05-03 01:22:11 AM  
Obviously no one involved has priced rooms in Las Vegas or around Disneyland.  Vegas prices at one of the regular casinos can change from $29 a night to $150 a night in the span of a couple days.  On a weekend with a couple major conventions/events the cost on that same single bed room can jump to over $200.  A hotel around Disneyland can change from $59 to $200 depending on what events are happening in the area.
This is normal capitalism, he is just used to getting favorable rates because he is a rich white guy.
 
2014-05-03 02:35:02 AM  

haknudsen: Obviously no one involved has priced rooms in Las Vegas or around Disneyland.  Vegas prices at one of the regular casinos can change from $29 a night to $150 a night in the span of a couple days.  On a weekend with a couple major conventions/events the cost on that same single bed room can jump to over $200.  A hotel around Disneyland can change from $59 to $200 depending on what events are happening in the area.
This is normal capitalism, he is just used to getting favorable rates because he is a rich white guy.



Sure, it is "normal capitalism" to turn the screws to the max the golden goose will bear (and presumably to use that to subsidise the rest of a tragic tourism year in farking Omaha), but that is foolishly short-sighted beyond a certain point. Because it is also normal capitalism for the Berkshire people to negotiate with them or work around them to get better rates, perhaps including depriving them of the business entirely if that's what it takes.
 
2014-05-03 03:36:50 AM  
Didn't one of his oil trains just crash and burn again.  Yay Keystone Hippy's!
 
2014-05-03 03:39:02 AM  

Brainsick: [front.moveon.org image 480x408]


Yeah, it sucks that the rich have so much power and money.

We should give it away to the poor in China, India, South America, and Africa.  Fair is fair, they don't deserve to live worse lives than Americans just because they happened to be born in the wrong country.

Rich is relative.
 
2014-05-03 03:45:25 AM  

sendtodave: Brainsick: [front.moveon.org image 480x408]

Yeah, it sucks that the rich have so much power and money.

We should give it away to the poor in China, India, South America, and Africa.  Fair is fair, they don't deserve to live worse lives than Americans just because they happened to be born in the wrong country.

Rich is relative.


Nobody's listening this late, so I'll tell you a story.  I just got finished drinking with a friend of mine, the Persian Cowboy, and I pee in every squeegee receptacle I can at the gas stations.  My windshield is a mess.
 
2014-05-03 03:47:06 AM  

kaduh: sendtodave: Brainsick: [front.moveon.org image 480x408]

Yeah, it sucks that the rich have so much power and money.

We should give it away to the poor in China, India, South America, and Africa.  Fair is fair, they don't deserve to live worse lives than Americans just because they happened to be born in the wrong country.

Rich is relative.

Nobody's listening this late, so I'll tell you a story.  I just got finished drinking with a friend of mine, the Persian Cowboy, and I pee in every squeegee receptacle I can at the gas stations.  My windshield is a mess.


I know the feel.
 
2014-05-03 04:08:48 AM  

sendtodave: kaduh: sendtodave: Brainsick: [front.moveon.org image 480x408]

Yeah, it sucks that the rich have so much power and money.

We should give it away to the poor in China, India, South America, and Africa.  Fair is fair, they don't deserve to live worse lives than Americans just because they happened to be born in the wrong country.

Rich is relative.

Nobody's listening this late, so I'll tell you a story.  I just got finished drinking with a friend of mine, the Persian Cowboy, and I pee in every squeegee receptacle I can at the gas stations.  My windshield is a mess.

I know the feel.


Brilliant!
 
2014-05-03 04:16:44 AM  

Brainsick: sendtodave: kaduh: sendtodave: Brainsick: [front.moveon.org image 480x408]

Yeah, it sucks that the rich have so much power and money.

We should give it away to the poor in China, India, South America, and Africa.  Fair is fair, they don't deserve to live worse lives than Americans just because they happened to be born in the wrong country.

Rich is relative.

Nobody's listening this late, so I'll tell you a story.  I just got finished drinking with a friend of mine, the Persian Cowboy, and I pee in every squeegee receptacle I can at the gas stations.  My windshield is a mess.

I know the feel.

Brilliant!


Brilliant!

/Also, why does liberalism end at a country's borders?
//Anyone?  Bueller?
 
2014-05-03 04:35:14 AM  

sendtodave: Brainsick: sendtodave: kaduh: sendtodave: Brainsick: [front.moveon.org image 480x408]

Yeah, it sucks that the rich have so much power and money.

We should give it away to the poor in China, India, South America, and Africa.  Fair is fair, they don't deserve to live worse lives than Americans just because they happened to be born in the wrong country.

Rich is relative.

Nobody's listening this late, so I'll tell you a story.  I just got finished drinking with a friend of mine, the Persian Cowboy, and I pee in every squeegee receptacle I can at the gas stations.  My windshield is a mess.

I know the feel.

Brilliant!

Brilliant!

/Also, why does liberalism end at a country's borders?
//Anyone?  Bueller?


The answer to your question depends on what you mean by "liberalism" but is probably, "It doesn't."

/my best friend's sister's boyfriend's brother's girlfriend heard from this guy who knows this kid who's going with the girl who saw a liberal pass out at 31 Flavors last night
 
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