Berkshire Hathaway (Warren Buffett) buying Omaha's Oriental Trading

[Omaha Steve]

Source: Omaha World Herald

By Steve Jordon

Warren Buffett is bringing ownership of a longtime Omaha company back to town.

Oriental Trading Co. would become part of Berkshire Hathaway Inc. of Omaha by the end of November under a cash purchase agreement being announced today, ending a dozen years of shifting ownership by out-of-town investors.

“The stability that Berkshire Hathaway offers Oriental Trading cannot be overstated,” said Sam Taylor, who became president and CEO of Oriental Trading in 2008 and guided the company through a financial reorganization in U.S. Bankruptcy Court in 2010.

For Buffett, the chairman and CEO of Berkshire, the purchase reflects the viability of Oriental Trading's underlying business. It's the nation's largest direct retailer of low-priced gifts, school and party supplies, arts and crafts, toys and novelties, selling more than $500 million a year online and from catalogs. The company employs 2,000 people in Omaha during its peak Christmas holiday season.

FULL story at link.


Read more: http://www.omaha.com/article/20121102/NEWS/711029911/1718

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http://www.omaha.com/apps/pbcsi.dll/bilde?Site=OW&Date=20121102&Category=NEWS&ArtNo=711029911&Ref=H2&maxw=598&maxh=400
RYAN SODERLIN/THE WORLD-HERALD
Felicia Schmitz packs orders for shipment at the warehouse of Oriental Trading Co., which would be acquired by Berkshire Hathaway Inc. under a purchase agreement being announced today.

[Ian David]

1. All your skill crane prizes are belong to us! n/t

[tanyev]

2. Here's a tip, Mr. Buffett.

You can cut costs by cutting back catalog mailings to once a month instead of three times a week.


You're welcome.

[Lars77]

3. Am i the only one who thought it said "Obama's oriental trading"?

[FiveGoodMen]

6. Nope. I misread it the same way.

[dotymed]

4. Since our elections have been privatized

and are a lucrative business, I wish that Mr. Buffet would buy these election machine companies. At least until Americans demand an end to their privatization and complete transparency to the electoral process.

[JDPriestly]

5. Sorry. They handle junk made by slave labor in third-world countries.

What would you prefer? Eking a living out of the soil in the fresh air or eking a living out in a crowded, enclosed room full of sweaty bodies and plastic? Personally, if I'm going to have to eke out my living, I'd rather be outside for a good part of the sunny hours.

We really don't need all those junky gifts, etc. That's materialism to its ugly extreme.

Hate to be a spoilsport, and people need jobs, but really???

[progressoid]

7. They treat their employees here in the states like shit too.