Bill Wexler's Profits of DOOM Message Board

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Strategies & Market Trends : Bill Wexler's Profits of DOOM

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To: Bill Wexler who wrote (3128)	9/29/1998 10:44:00 PM
From: Yamakita	Read Replies (1) of 4634

Bill, check out what Dale Wettlaufer of the Fools had to say about Costco and Charlie Munger: "To wit, California lawyer and businessman Charlie Munger, Vice-Chairman of Berkshire Hathaway, effuses with praise for Costco. Telling Forbes that he broke his rules about sitting on outside boards of directors, Munger said, "It's hard to think of people who've done more in my lifetime to change the world of retailing for good, for added human happiness for the customer." "Including Sam Walton," the magazine asked. "Munger nods." In an article in Discount Store News earlier this year, Costco Chief Financial Officer Richard Galanti summed it up pretty neatly: "If we can't save customers money, we're not going to sell an item." Read the whole thing if you haven't, it's excellent: fnews.yahoo.com I didn't realize that Munger felt that way. I am definitely a buyer starting tomorrow.

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