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Wednesday, March 12, 2014

Heinz Co, Warren Buffett's Never-Ending Profit and A Small Request

We at A&G abhor corporations..

Very few to none in existence can we say much positive about..

Politicians of every political stripe in every nation, region and city cater to their every need and whim as they offer one financial break after another including paying near zero corporate or property taxes to lure them to their specific geographical den of iniquity..

And the courts bend over backwards to ensure that no jury verdict found against a corporation is too stringent that it could cause them to file for bankruptcy so awards are always capped.  And of course a corporation can pay out a zillion dollars to a plaintiff and never be legally bound to acknowledge malice or guilt..
~ A 2012 lawsuit complaint against Heinz Co. for patent infringement

They colonize, monopolize and then sterilize local competitors out of existence..

Which brings us to Heinz Co..  Can't stand them

Perhaps it has something to do with many years ago a Pennsylvania Republican Senator named John Heinz tragically died in a helicopter crash back in 1991 and his foreign born whore of a wife Teresa inherited a vast fortune worth between $750 million and $1.2 billion.

Then a year later she dated a very vile and egotistical know-nothing Democratic Senator named John Kerry (who is our current know-nothing Secretary of State) and a couple years they got married.

She stayed a registered Republican until Kerry ran for President in 2004 then gave up her political affiliation as well as her personal and political beliefs to support her man as thoughtlessly as one gives their marker to a coat check girl..
~ John:  "I love her Money"     Teresa:  "I love his political power"
    To each other:  "I love you so much.. Muah"

Now Kerry gets to live in a six-floor, $7 million town home in Boston's Beacon Hill neighborhood, a $9 million ocean-front home on Nantucket, a $5 million ski retreat in Idaho, a $4 million estate in Fox Chapel, Pennsylvania, near Pittsburgh, and a $5 million home in the Georgetown neighborhood of Washington, D.C

All while trying to bully Russian President Putin while ignoring the double standards of US foreign policy and pretending he gives a fig about the everyday person.

Guess what one can't earn through hard work or skill, one acquires through marriage or death of that spouse.
The super wealthy are abhorrent creatures aren't they?

Speaking of abhorrent..

Heinz Co. was bought by Warren Buffett's Berkshire Hathaway (and 3G Capital) in February 2013 for $28 billion.  Since then the firm has cut 3,400 jobs and closed factories on two continents as they pay current boss Bernardo Hees $9.2 million

They also paid a staggering $110.5 million to their former CEO William Johnson for the final eight months of 2013
~ Former Heinz CEO William Johnson

You take the total of those two payouts ($119,700,000) and divide by the 3200 jobs Heinz Co. scuttled to come up with the $$ to pay two people...

$119.7M divided by 3200 equals...   average salary of $37,406.25

Ehh.. its not like those worker bees needed it to survive or anything..

But that's how business is isn't it, especially with corporations.
~ Heinz Factory, Pittsburgh PA

Buffett certainly feels no guilt or remorse..

He's got $60 billion dollars in his bank account and still needing to make more even though he's a decrepit cadaver with not much time left on earth, no interests or hobbies outside of making $$ and no one to leave his fortune to...

 He even said the acquisition could serve as a model for future buys; "With the Heinz purchase we created a partnership template that may be used by Berkshire in future acquisitions of size,"

Yep.. sweep in.. buy on the cheap. close factories and distribution centers.. fire employees.. do whatever must be done to generate the revenue to pay out former CEOs  without it coming out of Buffett's pocket, then turn a quick profit and re-sell in pieces..
And Heinz Co. isn't worried about bad reputation...

They know few to no one knows of how they do business and they know their thick as plasma ketchup and flatulence-secreting baked beans will still sell in droves even though generic tastes the same and is 20% less expensive

And they know people will still open up doors in the frozen food section and buy SmartOnes, TGI Fridays and Boston Market brand frozen dinners and OreIda brand potato products and Classico brand pasta sauces
Because we know its so morally wrong and so disgusting on so many levels what corporations do and yet..

As Homer Simpson and all the Simpson wanna-bes around the world would shrug and say, "Ehh.. Whatcha Gonna Do?"

So with some admitted exasperation, respectfully Mr Buffett a small request if you please...

Could you be a lamb and just please pass on already?

Remember, we asked respectfully..