The Oracle of Omaha

April 2014

Berkshire Hathaway shareholders are entitled to attend the annual meeting held the first weekend in May in Omaha, Nebraska.  The three-day event is almost more of a non-stop party than a business meeting.  Clearly, it is a must-do for stockholders.

Things kick off Friday evening with an open house at Borsheim's.  Borsheim's Fine Jewelry was founded in Omaha in 1870 and has been a subsidiary of Berkshire Hathaway for almost 30 years.  Free booze flows freely, and appetizer stations are everywhere.  Outside tents offer a dinner buffet, live music, and dancing.  The place is packed and the mood is, needless to say, festive.

Throughout the weekend, Borsheim's offers storewide discounts on a wide variety of upscale merchandise.  Attendees can also buy exclusive Berkshire Hathaway-labeled merchandise - perfect for Christmas gifts.

 

One year Borsheim's featured Sticks - a nationally acclaimed Iowa-based company that sells beautifully crafted art and furniture.  I have been a longtime fan of Sticks, so I was thrilled to meet artist-founder Sarah Grant.  With Sarah's guidance, Tom and I ordered a custom-designed Lazy Susan for Becky's medical school graduation.  

The annual meeting is held at the huge CenturyLink Center because the meeting attracts thousands of stockholders along with others who are lucky enough to get meeting credentials.

The party resumes on Saturday with entrance to a trade show featuring all the companies in which Berkshire Hathaway has ownership.  Among the companies that Berkshire Hathaway fully owns are Geico, Clayton Homes, Duracell, Fruit of the Loom, Dairy Queen, Pampered Chef, See's Candies, and BNSF Railway.  In addition, Berkshire holds large positions in Wells Fargo, Apple, Coca-Cola, and Bank of America.  Fundamentally, Warren Buffet invests in strong companies that demonstrate consistent earning power.  He likes "simple" companies that you can understand, and he holds on to them for a long time.

The trade show is an absolute hoot.  Essentially, all the Berkshire Hathaway companies have large booths or displays with generous giveaways.  You'll see the Fruit of the Loom guys attracting visitors to sweet deals on underwear, Dilly Bars sold for a dollar, and scads of freebies from companies like Heinz and Coke - just to name a few.  People walk out with huge sacks of See's Candies products because you'll never find more offerings at such sweet prices.

Warren Buffet always makes an appearance at the trade show before entering the arena's annual meeting spot.  He typically shows Board Director Bill Gates how to land a newspaper on the porch of a Clayton Homes porch - much to the delight of the crowd.

There actually is a business meeting, but it begins with a humorous video of Warren and featured Berkshire Hathaway companies.  You can count on the Geico gecko having a starring role, and you wish you could see the video all over again because it is so entertaining and clever.



Alas, the lights go down and the stage is lit with Buffet and his partner Charlie Munger seated at a long table, ready to field questions from anyone and everyone.  They do this for hours but keep up their energy with Coke, See's Candies and Dilly Bars along the way.  It's the ultimate product placement.  Buffet's Board of Directors are seated in the front row - a virtual Who's Who in the business world.  One year Bono sat with the Board who were as star struck as I was from the cheap seats in the arena.

Stockholders come and go from the arena all day, but Buffet and Munger hold fast, cleverly and clearly addressing a wide variety of questions and issues.  Many are concerned about the succession plan for the day when the brilliant 88-year old investor no longer heads the business.

Sunday finds people back at Borsheim's where Warren plays bridge Bill Gates and others in front of an adoring crowd.

Cranberry Picking - Formerly North Idaho's Best-Kept Secret

September 2013

During one of his early fall waterfowl hunts in the 1990's, Tom discovered a pristine cranberry bog in beautiful Hidden Lake.  Since finding this North Idaho treasure, Tom has mounted multiple cranberry picking expeditions for family and friends.

Getting to the bog is no easy task.  The adventure begins with launching the Boston Whaler into Killarney Lake and towing a canoe.  Crossing the lake is easy; finding the channel that leads to Hidden Lake and negotiating wild rice fields presents challenges and a watchful eye.

Sam, Megan and I participated in the September 2013 cranberry harvest.  We were properly outfitted with waterproof jackets, waders and boots.

After finding the channel, we abandoned the Whaler and paddled through the channel to Hidden Lake.  Spotting the bog is almost magical.  Bright red pearls of cranberries lay along the shore of the lake - stunning!

You feel like you are in the middle of a treasure hunt - with nature in every direction.

The outing yielded nine gallons of cranberries, and we left tons of berries behind.

 Over the years the bog has been discovered by many berry pickers - unfortunately commercial pickers included.

Paddling the canoe and picking cranberries works up an appetite, so we rewarded ourselves with a post-hunt picnic. 

Cranberries freeze beautifully. Needless to say, we were ready for Thanksgiving - arguably for the next four years.

S

Colonel Bud Day - An American Patriot

June 2013

Senator John McCain was a true American hero, and he led an inspirational life.  His death in August 2018 reminded me of meeting another American hero - Bud Day.  Day was a fellow prisoner and McCain's cellmate at the Hanoi Hilton during the Viet Nam war.   Both American military officers endured unimaginable torture during their 5+ years in captivity; both came through this horrific experience and went on to lead amazing careers for the greater good.

Bud Day was a childhood friend of Tom's dad - Bob Thilo.  They grew up together in Sioux City, Iowa, and worked as caddies at the Boat Club.  Bob always encouraged us to look up Bud Day if we ever had a chance, and I certainly came to understand why.

One of the nation's most decorated servicemen, Day received the Medal of Honor from President Gerald Ford in 1976.  After his military service, Colonel Day went to law school and built a practice in Fort Walton Beach.  He became a champion of veterans' rights, and wrote a stunning book about his Viet Nam experience -  American Patriot: The Life and Wars of Colonel Bud Day.  This unforgettable book taught me more about the Viet Nam war years than any American History textbook.

For several years, our daughter Sarah and husband Paul were Air Force pilots stationed at Hurlburt Field near Fort Walton Beach, Florida.  During one of our visits, Tom took a chance and called Bud Day's law office to see if he'd be willing to meet with Bob Thilo's son.   His secretary informed us that Bud Day was gravely ill and that they were in the process of closing his practice.  Nonetheless, she offered to pass on the message to Bud Day at his home.

Within hours, Bud returned Tom's call and invited us to visit him at his home.  Tom, Sarah, Paul, and I, were thrilled with the opportunity to meet this hero and his wife Doris.

Upon arriving at his home, we quickly learned that Colonel Day was indeed very ill, and it was no small effort for him to dress and then visit with us.  He fondly recalled his friendship with Bob Thilo and swapped Iowa pheasant hunting stories with Tom.  Needless to say, we brought our copy of his book which he proudly signed, noting his Medal of Honor recipient designation. At this writing, there are only 72 living Medal of Honor winners - members of the armed forces distinguished "conspicuously by gallantry and intrepidity at the risk of his life above and beyond the call of duty while engaged in action against an enemy of the United States."

 

As we were leaving the Day home, Doris graciously offered us a Bing Bar - popular treats from the Palmer Candy Store in Sioux City.  Doris had quite a stash of  Twin Bings which I suspect were gifts from their hometown friends.

Bud Day died about a month after we visited him.  Sarah attended his funeral and talked about how the streets of Fort Walton Beach were lined with United States flags and people paying respects to this American Patriot.

Upon his death, John McCain said, "I owe my life to Bud and much of what I know about character and patriotism."

Go West, Young Family, Go West

April 2014

As Air Force pilots, Sarah and Paul are ever on the move - from one Special Operations assignment to another.   I was invited to help Sarah make their move from Hurlburt Field in Florida to Cannon Air Force Base in  Clovis, New Mexico.  What a treat to have time alone in the car for two days with my daughter and 4-month old grandson.  Road trip!  

Before hitting the road, this proud Mom got to see a very special fond farewell Sarah received from fellow officers based at Hurlburt - flowers, cake, a plaque, etc.  I'd be hard-pressed to believe this kind of a personal send-off is typical.

After sending off the movers, we took one last photo in front of their lovely home in Navarre.

We hit the road, aiming to join Paul in New Mexico in a timely fashion.  Nonetheless, we found time for a pit stop in the French Quarter of New Orleans.  It seemed only appropriate to have lunch at Central Grocery - famous for originating Muffalettas.

Final stop - Walmart in Clovis, New Mexico - to stock up for the next chapter in the Brehm household.

Likin' LACMA

April 2014

My whirlwind trip to visit Becky in Los Angeles included a stop at LACMA - Los Angeles County Museum of Art.  My Art Study Club would have been proud of me - and jealous.  We could have spent two days studying the beautiful, famous works of art.  Two hours wasn't nearly long enough. 

Jackson Pollock's "Number 1" - 1949

And because I started my career with AT & T, I have to include Andy Warhol's "Telephone" - 1961.

I didn't note the artist, but I love mixed media and Easter was right around the corner.

Pablo Picasso's "Portrait of Sebastian Juner Vidal" - 1903

Andy Warhol's "Campell Soup Can" -  1964

"The Dancers" by Edgar Degas, 1898

"Still Life with Bread and Fruit" by Diego Rivera, 1917

Auguste Rodin's "Eve" - 1881

And then there was an installation of dresses by designer icon Diane Von Furstenberg.  The collection featured her infamous wrap dress.

Her designs ARE works of art, and I was thrilled to see them...

until I was overtaken with grief.  I spotted my all-time favorite dress...a dress I wore to its death and miss to this day.  

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