Topic
6 facts from 2 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
1968
In 1968, Blue Chip Stamps agreed to a consent decree with the Department of Justice requiring the stores that owned it to sell 45% of the company.
“In 1968, Blue Chip agrees to a consent decree with the DOJ where the stores have to sell off 45% of the company.”
1970s
Blue Chip Stamps' core business declined by about 90% during the 1970s as consumers lost interest in trading stamps.
“the core business declines 90% over the decade because consumers are just not that interested in stamps anymore.”
1972
Blue Chip Stamps bought See's Candies for $25 million, and the company went on to deliver over $2 billion in free cash flow.
“Blue Chip buys See's for $25 million. And over the ensuing years, this little candy company delivers over $2 billion in free cash flow”
1983
Blue Chip Stamps was merged into Berkshire Hathaway in 1983, after legal matters from the SEC investigation were resolved.
“make it a goal to merge blue chip into Berkshire as soon as all of the remaining kind of legal suits wind up and settle here. That actually takes a while, but it finally does happen in 1983.”
Undated
Charlie Munger said a roughly $20 million savings and loan purchase let Blue Chip Stamps take out over $2 billion in marketable securities.
“We bought a little pissant savings loan company for maybe $20 million. And when we left that thing, we had taken out of our little $20 million investment over $2 billion in marketable securities”
Undated
Charlie Munger said See's Candies earned only about $4 million pre-tax when Blue Chip Stamps bought it.
“And it seemed it was only making $4 million in pre-tax when we bought it.”
Episodes