"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Thursday, September 25, 2008

A "Modest proposal"

It would be fair and reasonable to assume that the Sage of Omaha has more public trust than the "experts" whom Hank the Bank is about to draft in to squander the US taxpayers billions.

We suggets therefore that the money be handed to Warren immediately, without delay.

The urgency is, Warren is an old guy and he might die before the weekend.

It is impossible to predict what he will do with the money but US$5 Bn of his shareholders funds in Sacks of Gold worked wonders so heaven knows how US$700 (and rising) might be applied.

Failing that ..... we start feeding babies to the Hogs in, starting with eirther Alabama or Kentucky.

PS : Or maybe the chicken Farmers could be approached first ....Chicken producer Pilgrim's Pride (PPC) warned it expects a significant Q4 loss, and said it may go into default with its lenders unless they waive or amend its current debt covenant. PPC has been hurt by surging grain and energy costs, weak pricing and demand for chicken, and by its debt load following a 2006 $1B purchase of Gold Kist who had debts of US$144 Mn.

The company announced idling processing facilities in Clinton, Arkansas and another in Bossier City, Louisiana and long term layoffs of 2,300 staff on 11th August.Shares fell 38% Wednesday and slid a further 40% today - now trading at US$3.51. (52 week high US$36)

Clint Rivers, president and chief executive officer in July said Market breast prices averaged about US$1.33 per pound, Rivers said. Market prices should be at least US$2.15 for the industry to break even.

The company also reported in a (now) bitter sweet report at the end of July, that they had sold 7.5 million shares of its common stock for $177 million (US$23 per share - ish) to underwriter Lehman Brothers Inc., to provide the company with more funds. The market price May / June was around US$25.

Maybe, looking at those chickens coming off the PP production line we could cut out the farmer/meat packer and suitably packed distribute processed babies direct - disemblowelled of course, who want's all those mucky intrenal bits?

1 comment:

paul said...

The avuncular, cherry coke and burger guzzling oligarch could teach mr branson a thing or two about image management.

Though there's somthing funny about a man who hosts a charity event at a military air base on the 11th of september 2001

Coincidentally, Omaha-resident Warren Buffett was on the base meeting that morning in a charity event which was attended by several financial services executives whose offices were in the World Trade Center. Among the executives was Anne Tatlock of Fiduciary Trust Co. International, who likely would have died had it not been for the meeting. [19] There is no record if Buffett or any of the executives met or even saw Bush.

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish