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WARREN BUFFETT: 'I don't see smiles on the faces of people at Whole Foods'
Yahoo Finance ^ | May 6,2015 | Rick Wilking/

Posted on 05/07/2015 4:36:26 AM PDT by Hojczyk

Whole Foods shares are getting crushed after earnings. The company reported record second quarter sales that still were below investors' expectations, and shares were down as much as 10% in after hours trade on Wednesday.

This past weekend at the Berkshire Hathaway annual shareholders' meeting this past weekend, CEO Warren Buffett singled out the company, saying that that the customers there simply don't seem like a happy bunch.

Here's some more color on what Buffett said, according to Time:

"Food and beverage companies will adjust to the expressed preferences of consumers. No company does well ignoring its consumers.

"It’s amazing how durable [consumer brands are]. Berkshire Hathaway was the largest shareholder of General Foods from 1981 to 1984 — that’s 30-plus years ago. It was bought by Philip Morris and spun out as Kraft. Those same brands are popular today. Heinz goes back to 1869. The ketchup came out in the 1870s. Coca-Cola dates to 1886. It’s a pretty good bet that a lot of people will like the same things."

Whole Foods is popular for its fresh and organic food options.

But Buffett is unapologetic for his junk food habits and the amount of coke he drinks.

He recently added Kraft Foods to his portfolio, the maker of Velveeta cheese, Oreos, and others.

And as his vice chairman and long time business partner Charlie Munger quipped: "Sugar is an enormously helpful substance. It prevents premature softening of the arteries."

In response to questions about holding investments in companies that make foods high in sugar (like Coca-Cola,) while consumers' diets shift towards healthier options, Buffett said (via Bloomberg): "I don’t see smiles on the faces of people at Whole Foods."

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: berkshirehathaway; charliemunger; kraftfoods; oreos; velveeta; warrenbuffett; wholefoods
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1 posted on 05/07/2015 4:36:26 AM PDT by Hojczyk
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To: Hojczyk

They don’t have smiles on their faces because they’re a bunch of tatted-up, liberal hippies with drug problems stuck in an existential dilemma.


2 posted on 05/07/2015 4:38:30 AM PDT by struggle
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To: Hojczyk

I see pure evil in the face of Warren Buffett. His “charities” are all about abortion. In the past ten years, he’s bought 2-3 million abortions.


3 posted on 05/07/2015 4:39:35 AM PDT by Mamzelle
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To: Hojczyk
"I don’t see smiles on the faces of people at Whole Foods."

I've noticed that about liberals in general, not just liberals who are customers of Whole Foods.

4 posted on 05/07/2015 4:40:31 AM PDT by Sooth2222 ("In a democracy people get the leaders they deserve." - Joseph de Maistre, 1753-1821)
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To: Hojczyk

This amuses me. Whole Foods bought out the entire first floor of a two-story Sears at a local mall. They have an entire restaurant inside. The prices are outlandish. I go to local farmer’s markets and get better food for lower prices. The only reason I go in there is to buy bulk grains such as quinoa, barley, sesame, and basmati rice.


5 posted on 05/07/2015 4:41:13 AM PDT by rarestia (It's time to water the Tree of Liberty.)
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To: Hojczyk

What do Leftists have to look forward to? They are a self-hating bunch who are trying to change the world to accommodate their deformed ideals.


6 posted on 05/07/2015 4:42:00 AM PDT by txrefugee
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To: Hojczyk

They sell luxury food items.
Under Obamacare Americans don’t have jobs.
Who is really surprised?


7 posted on 05/07/2015 4:42:40 AM PDT by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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To: Mamzelle

Most billionaires are liberal if there is profit in it.

Foster Friess is probably the most consistently conservative in my opinion and he has weak points.


8 posted on 05/07/2015 4:44:18 AM PDT by cripplecreek ("For by wise guidance you can wage your war")
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To: Mamzelle

I’d appreciate some facts to go along with the accusations.


9 posted on 05/07/2015 4:47:24 AM PDT by wita
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To: struggle
They don’t have smiles on their faces because they’re a bunch of tatted-up, liberal hippies with drug problems stuck in an existential dilemma.

On the other hand, Whole Foods CEO John Mackey likened Obamacare to fascism, and Warren Buffett plan on leaving his immense fortune to Planned Parenthood type organizations.

Yes, Whole Foods does invite limousine liberals in places like Madison, WI. The tattoo rate is lower, much lower than the local Walmart, however.

Our local store that shares some aspects of Whole Foods is Fresh Market. Less gimmicky, a large candy aisle and a REAL butcher with ground beef that looks like it wasn't ground two weeks ago at a plant outside Des Plaines, IL.

For certain items, these places are worth patronizing.
10 posted on 05/07/2015 4:47:58 AM PDT by Dr. Sivana (There is no salvation in politics)
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To: rarestia
More grocery stores and restaurants are providing pure food options. As those products become more mainstream, Whole Foods prices will have to return to earth. It will lower profits somewhat, and probably volume when there are other healthy food options.

Buffet's remark is childish. There's still a market for poisoned foods, for sure. But ignoring the trend toward healthy food does not seem like something the wisest investor on earth should be promoting.

JMHO

11 posted on 05/07/2015 4:48:17 AM PDT by grania
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To: grania

Do you believe that the general (fresh) food supply from your local grocer is spoiled, poisoned, or otherwise inedible compared to foods available at stores such as Whole Foods?

I’m genuinely curious. The opinions vary widely.


12 posted on 05/07/2015 4:49:39 AM PDT by rarestia (It's time to water the Tree of Liberty.)
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To: MrEdd
They sell luxury food items.

When money is tight, or job's future is uncertain, people are more likely to look at cheaper alternatives.

13 posted on 05/07/2015 4:53:10 AM PDT by PapaBear3625 (You don't notice it's a police state until the police come for you.)
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To: Hojczyk
Kraft does not make Oreos Oreos are made by Mondelēz International
14 posted on 05/07/2015 4:57:05 AM PDT by bert ((K.E.; N.P.; GOPc.;+12, 73, ..... Obama is public enemy #1)
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To: Hojczyk
Love it! So-called "healthy foods" are near universally flavorless and unappealing. Whatever Buffet's other issues, appreciate hearings someone point this out. Who smiles eating Kashi? Give me Fruit Loops or Trix or something. A boring whole wheat roll? No way! I'll take a Twinkie.

Tasty food may not be healthy and politically-correct, but it does taste good and we'll all die eventually so why not enjoy the trip?

15 posted on 05/07/2015 4:57:11 AM PDT by Reno89519 (For every illegal or H1B with a job, there's an American without one. Muslim = Nazi = Evil)
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To: rarestia
re: local food supply

Fresh foods, local, organic, etc doesn't assure healthier foods. You have to look at the ingredients and sources. For me personally, I'd rather have canned foods that were fully ripened when harvested, without additives. Some of the stuff sold as "fresh" is treated for the market and harvested before it's ripened.

This is my personal approach, not the one others use. I shop by ingredients and only purchase foods from countries that have strict food standards and from US sources that are reputable for quality.

16 posted on 05/07/2015 4:58:22 AM PDT by grania
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To: grania

Understood. My question came from your comment about “poisoned” food, as I like to discuss the idea of “whole” and “organic” foods in general. Seems like hooey to me, but that’s just personal.

I don’t eat anything from a box or a bag save a very few exceptions such as frozen fruit and veggies in bags and the occasional bowl of cereal. We don’t buy much canned food, but with proper preparation, it tastes the same as fresh.


17 posted on 05/07/2015 5:04:44 AM PDT by rarestia (It's time to water the Tree of Liberty.)
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To: Mamzelle

Yes, Warren Buffet is the worst. He plays a good game of being just a homespun investor, but he is the consummate insider.

I can’t stand the bastard—he was instrumental in the housing collapse, and now he has been buying thousands of homes for pennies on the dollar. Welcome to the New American Dream: Slumlord America.

And, yes, he supports abortion and Obama—nice heartland values!


18 posted on 05/07/2015 5:05:13 AM PDT by antidisestablishment (#Draw, Mohammed!)
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To: struggle

‘________tatted up, liberal hippies________’

I go to Whole Foods here in Calif. about once a month because of a few items I cannot get elsewhere. I resent having to look at tattoos because I don’t know what I’m libel to see. How can I avoid seeing people’s uncovered arms, tatted, packing my groceries, etc.??? Or nose, eyebrow, tongue rings? YECH.
I don’t like having my young grandkids seeing that ap-cray, either.
We do frequent our local family-owned health food store - probably twice a week. We’ve been with them since they opened in the early 1970’s.

Back in the day, my spouse, a Field Base Personnel Administrator (yeah - before ‘human resources’ - bah - would not have hired anyone looking like a creature from the depths. Spouse would know how to do that without getting in trouble - - - so would plenty of others, and probably still do.
On the other hand, the company always scored great in Affirmative Action.
A hiring person hopefully advices the rejected applicant just how to dress and maybe other things, like speak - - - before they next apply for employment.


19 posted on 05/07/2015 5:07:24 AM PDT by USARightSide (S U P P O R T I N G OUR T R O O P S)
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To: USARightSide; struggle

‘advices/adviSes’ Sorry - - -


20 posted on 05/07/2015 5:10:36 AM PDT by USARightSide (S U P P O R T I N G OUR T R O O P S)
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