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| Name: |
roswellric
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| Subject: |
Here's something to chew on
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Date:
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4/18/2006 8:04:04 AM
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Berkshire Hathaway to Acquire Russell
The Associated Press
Monday, April 17, 2006; 6:55 PM
NEW YORK -- Russell Corp., which makes sweat shirts, workout clothes and sporting goods, on Monday said it agreed to be acquired by billionaire investor Warren Buffett's Berkshire Hathaway Inc. for nearly $600 million.
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| Name: |
Osms
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| Subject: |
Here's something to chew on
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Date:
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4/18/2006 8:16:39 AM
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Do the local Russell businesses--real estate, property, Do It centers, etc., have any connection to the Russell Corp.? Or are these businesses family owned?
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| Name: |
Island Camper
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| Subject: |
Here's something to chew on
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Date:
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4/18/2006 8:42:13 AM
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Russell Lands is a completely separate company from Russell Corp. This will not affect Russell Lands directly.
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| Name: |
roswellric
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| Subject: |
Here's something to chew on
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Date:
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4/18/2006 8:47:22 AM
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I read up on some of that. The Russell family is somewhat disconnected from Russell Corp which was sold to the public around 1980 (?) I don't think Ben Russell is even on the board.
Russell Lands owns the real estate, the do-it's, the marinas, misc pulp operations etc.
The big question is what will Warren Buffett do. I noticed he bought Fruit of the Loom too and likes the CEO. Maybe he's consolidating some "branded" textiles. He has something up his sleeve. Hope he doesn't close down the whole shooting match and transfer it to China.
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| Name: |
Feb
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| Subject: |
Here's something to chew on
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Date:
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4/18/2006 9:09:34 AM
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I imagine the purchase was for "trademark and name only" which would be of great value as an established name in its class. Maybe the last USA name in its market place for this type product. Most of us could see this coming years ago, but we did not know the source for new ownership. We should see much more of the trademark name Russell. Kind of makes you wonder if Auburn will now change sponsorship or not in sports wear. Maybe the University of Alabama will change over.
Question; does it not bode well for Alexander City? From my understanding the mill work is mostly off shore. There could and will become a new wealth for this fine old city, but probably not in textiles. It could be years to come but there will be a revitaliztion if not already in the works.
I would assume the name only and purchase would not apply to other Russsell holdings which goes back to Osms' question. Since I am not familar with the transactions, it is hard to surmise. The above is only an educated guess on my part.
I am only offering the following as a personal observation and opinion of forth coming changes to the American market place and where a wise man or woman indeed Buffett is going with his manipulations.
The price of fuel is spiraling out of sight and is going to drive the economy of every nation. The question becomes whether the cost of energy is going to overcome the cost of labor. I suspect so. America currently has possibly the cheapest energy cost of most developed Nations. Our labor rates are high. So, where will this take us? Possibly full circle since we see foreign investors in heavy manufacturing moving their car industry and other similar industry back to the USA. That is because they recognize the USA market for their product and the current fact it will be cheaper to manufacture and sell than transport.
This does and does not bode well for the deep South. Our labor market is cheaper and mostly without Unions. In fact, energy cost are less to a minor degree. This means more growth and developement. It also mean the raping of the South for its resources and changing to a different type and quality of life
Once again, this is simply my opinion.
It is something to think about. It certainly is on my mind and the way I invest. Don't go by my advise since I am not qualified to advise, but I am only educated in such matters.
"alscn" you are welcome to use any of the above in your homework. I will only say you may very well get an F for my opinion. Since it is a psycology course you could claim it is the statement of a "mad man". LOL
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| Name: |
Lakeman
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| Subject: |
Here's something to chew on
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Date:
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4/18/2006 9:15:15 AM
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Auburn has already changed from Russell last year or the year before. It was in most of the local papers. I can't remember who wingnut went with but there was a lot said about the change.
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| Name: |
lamont
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| Subject: |
Here's something to chew on
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Date:
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4/18/2006 9:42:31 AM
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I thought they just recently changed to Under Armour (sp?)
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| Name: |
roswellric
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| Subject: |
Here's something to chew on
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Date:
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4/18/2006 9:49:07 AM
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I think the auto thing is two-fold; political and the cost to ship the completed auto. I think the textile thing is purely labor. But this is good for AL. $10/hr textile vs $20/hr auto. No-brainer
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| Name: |
Island Camper
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| Subject: |
Here's something to chew on
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Date:
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4/18/2006 10:28:30 AM
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Auburn will be wearing Under Armour in 2006. They wore Russell in 2005 and many years before.
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