An Investor Sent A Hilarious Letter Ripping Warren Buffett To Berkshire Hathaway's Board For April Fool's Day


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When we stumbled on this letter to Berkshire Hathaway's board of directors from Vadim Perelman, a managing member of Baker Street Capital, we were shocked...

Perelman's letter sounds like something an activist investor like Dan Loeb would write to Yahoo! — it's a long tirade about all the things that absolutely must change at Berkshire. The letter touches on everything from Warren Buffett's compensation (too high), to succession issues (tell us now!) and the company's share price (we want dividends).

Finally, at the end of the letter, Perelman recommends that Charlie Munger take the helm of Berkshire and that Warren Buffett step down.

Then we noticed that the letter was date April 1st. Oh... got it.

Business Insider got in touch with Perelman and he told us that he and his partner planned this letter months ago. They told Buffett about their idea, and he said he would be happy to run it on Business Wire, which he owns.

"We have nothing but respect for Warren," said Perelman. "It should be fairly obvious to an informed reader that it's satire."

Well, we had our suspicions...

We've embedded the letter below. Tell us whether or not you'd be taken in.

Letter to Berkshire Board

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Source: http://feedproxy.google.com/~r/businessinsider/~3/Vf8ILFbOIgQ/an-investor-sent-a-hilarious-letter-ripping-warren-buffett-to-berkshire-hathways-board-for-april-fools-day-2012-4

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REPORT: The Third Mega Millions Winner Is A Single Mother Of Seven Who Works At McDonald's


Mcdonalds

The New York Post is reporting that the third winning ticket in the record Mega Millions jackpot belongs to McDonald's employee Mirlande Wilson.

Wilson, a single mother of seven, says she bought the ticket independently, while her coworkers say she bought it in a pool with them and must share the prize, reports the Post.

Maryland's winning ticket was purchased at a 7-Eleven convenience store in Baltimore County, according to The Baltimore Sun.

The winners in Illinois and Kansas, who each hold a ticket worth about $218 million, remain anonymous.   

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Source: http://feedproxy.google.com/~r/businessinsider/~3/zwrOGCoXdkI/mirlande-wilson-2012-4

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Shares Of Sina Are Tanking After China Goes On Weekend Censorship Rampage


Netizens in China continue to chatter about a coup, so over the weekend, users of Twitter-like sites run by Sina.com and Tencent were prevented from commenting on each other's posts, according to FT.

It's a reminder that a major risk to these companies is the fact that the government can come in anytime and censor or shut down the whole thing.

Anyway, that's hurting Sina this morning.

As you can see here, it's off over 4% in the pre-market.

Click to enlarge.

chart

(Via @stocktwits and @trending123)

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Source: http://www.legaldebthelponline.com/2012/04/01/car-loans-right-after-bankruptcy/

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Is Keith Olbermann Seriously This Much Of A Prima-Donna?


Keith Olbermann

We read the details of Keith Olbermann's complaints about Current TV expecting to see that Olbermann had a legitimate beef.

After all, after getting fired, Olbermann took to Twitter to blast the "ethics" of Current TV bosses Al Gore and Joel Hyatt and promising that the "truth" about said ethics would soon come out.

Olbermann's folks then apparently walked The Daily Beast's Howard Kurtz through this truth, showing Kurtz emails to bolster the case.

Per Kurtz, here's what Olbermann found appalling and unacceptable about Current TV:

  • He was unhappy with the show's technical production--for example, the lights once cut out during one show
  • He was annoyed that he had to promote other Current TV shows during his show
  • He was angry that he was occasionally given incorrect information about other Current TV shows to promote during his show
  • He was annoyed that he had to participate in Current TV marketing events, even though he was contractually obligated to do so
  • He viewed Current TV's production capabilities as those of a "cable access" show rather than a cable news network--and blamed his crappy ratings on that.
  • He was annoyed that the network once cut away from him in mid-sentence to promote another show.
  • He was annoyed that the drivers for the car companies Current TV hired tried to talk to him. He fired 8 car companies during his short tenure at the network.

The limo drivers tried to talk to him? How awful. No wonder he was so furious.

The network once cut away from his show when he was in the middle of a sentence? Goodness--Current TV is lucky he didn't just storm out and torch the place.

We liked Keith Olbermann's show, and we thought we liked Keith Olbermann. But if these really are the worst things that happened to Keith Olbermann over the past year, it's no wonder that Current TV tossed him.

No one's worth that prima-donna crap. Especially someone who's making $10 million a year and drawing fewer than 200,000 viewers.

SEE ALSO: OLBERMANN ATTACKS: Al Gore's Network Is A Penny-Pinching Incompetent Clown Show

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Source: http://www.legaldebthelponline.com/2012/03/30/business-secrets-and-techniques-for-corporate-credit-card-debt/

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Procter & Gamble Has Big Plans For China And Emerging Markets Growth

P&G has set a target to acquire one billion new customers by 2014-15 and plans to add around 20 more manufacturing facilities in emerging markets such as Brazil, China and Eastern Europe.

Source: http://www.forbes.com/sites/greatspeculations/2012/03/30/procter-gamble-has-big-plans-for-china-and-emerging-markets-growth/

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Andy Andrews Discusses the Power of Storytelling


Ask author Andy Andrews about failure, and you might be surprised by his answer.

He loves it, which is a funny thing coming from a guy who has written numerous best-sellers and is anything but a flop. But it wasn?t always this way. Andy pitched his first book to 51 publishers before he actually received a yes nearly four years later.

For Andy, it was an experience he wouldn?t trade for all the books on Amazon. ?There have been many times in the past eight or nine years I have been able to use that story to lead somebody to a success of their own,? he says.

Besides being an author, Andy just happens to be a great friend to the Ramsey organization and one of EntreLeadership Podcast host Chris LoCurto?s favorite people on the planet. Andy recently stopped by to discuss his books and the power of telling a story for our latest podcast. Here is a summary of some of the great things he shared with us.

Chris: Dave says you are no ordinary author but more of a life whisperer. And you are not only one of my favorite authors but a great storyteller. Do you think of yourself that way?

Andy: I get labeled an author or a speaker, but people forget the essence of that is storytelling. That?s how I grew up. My favorite teachers in school were storytellers. My dad was a storyteller. When I was learning something, I was told a story. When I was trying to be taught something, I was told a story. When I got into trouble, I was told a story.

Chris: When did you realize how powerful a story can be?

Andy: I started out as a traditional standup comic. At that time, the only comedians I had ever seen were on The Tonight Show, so I was doing it like them. Then, I started taking that material and turned it into, ?Let me tell you what happened when I was 11 years old.? All of a sudden, the audience was responding to the same material in an entirely different way.

Chris: Why is storytelling so important for leaders to master?

Andy: Until someone is moved emotionally, it rarely sticks with them. How many times in your life did you study something or hear something in a business presentation and it just goes right out of your head? But when you watch a movie that moves you emotionally, you wake up the next day and you are still feeling it?maybe it never left you and you talked about it for weeks. The same thing is true of a story. To tell people stories really connects you with them emotionally.

Chris: Is there a secret to telling a good story?

Andy: When you pour your heart into a story with authenticity, the listener will tear up when you do, even when they?ve never been in that position. When you smile, they?ll smile. When you laugh, they?ll brighten up. So that?s what I would urge business leaders to do. When they are communicating, understand their life experiences are more compelling than anything they could possibly make up.

Chris: Your first book, The Traveler?s Gift, was very successful, but it didn?t start out that way. It was considered a failure, which you say is a good thing. How is failure important, especially as it concerns leadership?

Andy: You should never look at your own failures or shortcomings as horrible. They can actually define you as a leader. Think about it. If someone is going through something, you can say, ?You know what, I know exactly what you are talking about because I had the same thing happen to me. Let me tell you how I felt and what I did about it. I know you are in a horrible place. But it?s going to be okay, because I?ve already traveled that road. I know the ruts and how we are going to get through them.?

For more of Chris LoCurto?s interview with Andy Andrews, including their discussion on Andy?s latest book, How Do You Kill 11 Million People?, download our latest EntreLeadership Podcast. Each podcast also includes a lesson from Dave.

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Source: http://www.daveramsey.com/article/andy-andrews-discusses-the-power-of-storytelling/lifeandmoney_business

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