Tuesday, September 4, 2012

Billionaire Warren Buffet Gives $3 Billion Away For His Birthday

OMAHA, Aug. 31 (UPI)



U.S. billionaire Warren Buffett says he has pledged an additional $3 billion of Berkshire Hathaway stock to foundations operated by his children.

In 1996, Buffett pledged 17.5 million Class B shares of his firm's stock to each of his children's foundations. Buffett, who turned 82 Thursday, said in an open letter how proud he is of the work they've accomplished with the funds and increased the pledge by 12.2 million shares each, Berkshire Hathaway said in a release.

"I knew you would apply your considerable brains and energies in order to make the most of the funds from my gift," Buffett said in


Read more: http://www.upi.com/Business_News/2012/08/31/Buffett-gives-away-3-billion-on-birthday/UPI-43191346441511/#ixzz25Xp1vZH5

Costco Caters to Ultra-affluent

STEVENS, Pa., Aug. 30 (UPI)


It's not surprising Mitt and Ann Romney enjoy shopping at Costco, because it is the only discount retailer that attracts the affluent, a U.S. expert says.
Pamela Danziger, president of Unity Marketing and luxury market expert, said Costco was the only discount chain that attracted more ultra-affluent -- consumers with more than $250,000 income a year -- than lower-income shoppers, with income ranging from $100,000 to $249,900 a year.


Read more: http://www.upi.com/Business_News/2012/08/30/Expert-Costco-caters-to-ultra-affluent/UPI-73981346361254/#ixzz25XnLPWy2

Affluent people less likely to reach out to others in times of trouble?

Crises are said to bring people closer together. But a new study from UC Berkeley suggests that while the have-nots reach out to one another in times of trouble, the wealthy are more apt to find comfort in material possessions.

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Affluent people less likely to reach out to others in times of trouble?

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