Ray Kroc first opened a McDonald's franchise in 1955, from the McDonald brothers, then purchased the remaining McDonald's chain in 1961 and built it into the most successful fast food operation in the world.
By Money & Finance
When Microsoft went public in March of 1986, co-founders Bill Gates and Paul Allen, two friends from high school who bonded over their mutual love of computer science, became multi-millionaires.
Gates, then 30, remained CEO and rose to prominence as one of the richest people in the U.S. The shares he sold made him $1.6 million, and the 45 percent stake he retained gained a market value of $350 million.
The young CEO celebrated his newfound wealth by making a very sensible decision: He paid off his $150,000 mortgage, he told Fortune in 1986.
"I bought one thing that was a tiny bit of a splurge," Gates told David Rubenstein during a 2016 Bloomberg interview. "It was used, but it was an incredible car."
Gates first purchased a Porsche 911 Turbo in 1979 and rumor has it that he was pulled over quite a few times in the blue sports car. This 911 has since been auctioned off for $80,000.
Gates didn't let the car sit around gathering dust: The CEO loved to put its speed to the test in drives around the New Mexico desert, near where Microsoft was headquartered at the time. After one particularly raucous night, he even had to call Allen to bail him out of jail, according to a Time profile from 1997.
"Sometimes when I would want to think at night, I would just go out and drive around at high speed," Gates told Rubenstein. "Fortunately, I didn't kill myself doing that."
Gates's wealth continued to balloon after Microsoft's IPO and he became a billionaire in 1987 at age 31. At the time, he was the youngest person ever to reach the milestone. And by 1995, his fortune had grown to $12.9 billion, making the then 39-year-old the world's richest man, a title he held for years afterward.
By Guest Nicole
Everyone who has a PC knows how the key shortcut Ctrl+Alt+Delete is used. It is usually used to access the computer’s task manager when something doesn’t seem right. While you need to use two hands two press all three keys on the keyboard to make this function work, it’s not usually a problem for Windows users. However, the founder of the mentioned computer company, Bill Gates regrets having the Ctrl+Alt+Delete command. He prefers if it were just a single button.
Read more at: https://gineersnow.com/industries/bill-gates-regrets-creating-ctrlaltdel-command
via .ORGWorld News
Por qué Bill Gates dice que crear el comando "Ctrl + Alt + Supr" para reiniciar las computadoras fue un errorBy Guest Nicole
Cada vez que un programa se bloquea, la computadora no responde o necesitamos cambiar la contraseña o cerrar sesión, recurrimos a las tres teclas "mágicas": "Ctrl + Alt + Supr" (o "Delete").
Es uno de los atajos de teclado más usados en todo el mundo para reiniciar la computadora o como último recurso cuando la PC no funciona.
Sin embargo, Bill Gates, el hombre que fundó Microsoft, dice que fue un error.
Así lo afirmó este miércoles el magnate tecnológico durante el Bloomberg Global Business Forum, un evento que reunió a los mayores líderes de grandes organizaciones mundiales en Nueva York, Estados Unidos.
En una tertulia sobre los cambios tecnológicos de los últimos años, David Rubenstein, director del fondo de inversiones Carlyle, le preguntó a Gates por qué había creado un comando que requiriera usar tres dedos para ejecutarlo.
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Financial Weapons Of Mass Destruction: Top 25 US Banks Have 222 Trillion Dollars Derivatives ExposureBy Guest
Authored by Michael Snyder via The Economic Collapse blog,
The recklessness of the “too big to fail” banks almost doomed them the last time around, but apparently they still haven’t learned from their past mistakes. Today, the top 25 U.S. banks have 222 trillion dollars of exposure to derivatives. In other words, the exposure that these banks have to derivatives contracts is approximately equivalent to the gross domestic product of the United States times twelve. As long as stock prices continue to rise and the U.S. economy stays fairly stable, these extremely risky financial weapons of mass destruction will probably not take down our entire financial system. But someday another major crisis will inevitably happen, and when that day arrives the devastation that these financial instruments will cause will be absolutely unprecedented.
During the great financial crisis of 2008, derivatives played a starring role, and U.S. taxpayers were forced to step in and bail out companies such as AIG that were on the verge of collapse because the risks that they took were just too great.
But now it is happening again, and nobody is really talking very much about it. In a desperate search for higher profits, all of the “too big to fail” banks are gambling like crazy, and at some point a lot of these bets are going to go really bad. The following numbers regarding exposure to derivatives contracts come directly from the OCC’s most recent quarterly report (see Table 2), and as you can see the level of recklessness that we are currently witnessing is more than just a little bit alarming…
Total Assets: $1,792,077,000,000 (slightly less than 1.8 trillion dollars)
Total Exposure To Derivatives: $47,092,584,000,000 (more than 47 trillion dollars)
Total Assets: $2,490,972,000,000 (just under 2.5 trillion dollars)
Total Exposure To Derivatives: $46,992,293,000,000 (nearly 47 trillion dollars)
Total Assets: $860,185,000,000 (less than a trillion dollars)
Total Exposure To Derivatives: $41,227,878,000,000 (more than 41 trillion dollars)
Bank Of America
Total Assets: $2,189,266,000,000 (a little bit more than 2.1 trillion dollars)
Total Exposure To Derivatives: $33,132,582,000,000 (more than 33 trillion dollars)
Total Assets: $814,949,000,000 (less than a trillion dollars)
Total Exposure To Derivatives: $28,569,553,000,000 (more than 28 trillion dollars)
Total Assets: $1,930,115,000,000 (more than 1.9 trillion dollars)
Total Exposure To Derivatives: $7,098,952,000,000 (more than 7 trillion dollars)
Collectively, the top 25 banks have a total of 222 trillion dollars of exposure to derivatives.
If you are new to all of this, you might be wondering what a “derivative” actually is.
When you buy a stock you are purchasing an ownership interest in a company, and when you buy a bond you are purchasing the debt of a company. But when you buy a derivative, you are not actually getting anything tangible. Instead, you are simply making a side bet about whether something will or will not happen in the future. These side bets can be extraordinarily complex, but at their core they are basically just wagers. The following is a pretty good definition of derivatives that comes from Investopedia…
A derivative is a security with a price that is dependent upon or derived from one or more underlying assets. The derivative itself is a contract between two or more parties based upon the asset or assets. Its value is determined by fluctuations in the underlying asset. The most common underlying assets include stocks, bonds, commodities, currencies, interest rates and market indexes.
Those that trade derivatives are essentially engaged in a form of legalized gambling, and some of the brightest names in the financial world have been warning about the potentially destructive nature of these financial instruments for a very long time.
In a letter that he wrote to shareholders of Berkshire Hathaway in 2003, Warren Buffett actually referred to derivatives as “financial weapons of mass destruction”
The derivatives genie is now well out of the bottle, and these instruments will almost certainly multiply in variety and number until some event makes their toxicity clear. Central banks and governments have so far found no effective way to control, or even monitor, the risks posed by these contracts. In my view, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal. Warren Buffett was right on the money when he made that statement, and of course the derivatives bubble is far larger today than it was back then.
In fact, the total notional value of derivatives contracts globally is in excess of 500 trillion dollars.
This is a disaster that is just waiting to happen, and investors such as Buffett are quietly positioning themselves to take advantage of the giant crash that is inevitably coming.
According to financial expert Jim Rickards, Buffett’s Berkshire Hathaway Inc. is hoarding 86 billion dollars in cash because he is likely anticipating a major stock market downturn…
Far from a bullish sign, Buffett’s cash hoard could mean he’s preparing for a market crash. When the crash comes, Buffett can walk through the wreckage with his checkbook open and buy great companies for a fraction of their current value.
That’s the real Buffett style, but you won’t hear that from your broker or wealth manager. If Buffett has a huge cash allocation, shouldn’t you?
He knows what’s coming. Now you do too.
Warren Buffett didn’t become one of the wealthiest men in the entire world by being stupid. He knows that stocks are ridiculously overvalued at this point, and he is poised to make his move after the pendulum swings in the other direction.
And he might not have too long to wait. In recent weeks I have been writing about many of the signs that the U.S. economy is slowing down substantially, and today we received even more bad news…
Despite high levels of economic confidence expressed by business owners and consumers, one key indicator shows that it has not translated into much action yet.
Loan issuance declined in the first quarter from the previous three-month period, the first time that has happened in four years, according to an SNL Financial analysis of bank earnings reports filed for the period. The total of recorded loans and leases fell to $9.297 trillion from $9.305 trillion in the fourth quarter of 2016.
This is precisely what we would expect to see if a new economic downturn was beginning. Our economy is very highly dependent on the flow of credit, and when that flow begins to diminish that is a very bad sign.
For the moment, financial markets continue to remain completely disconnected from the hard economic data, but as we saw in 2008 the markets can plunge very rapidly once they start catching up with the real economy.
Warren Buffett is clearly getting prepared for the crisis that is ahead.
Do you want to know how to stay out of debt? In this video, Warren Buffett gives you timeless tips on how you can stay out of debt.
Who is Warren Buffett?
Warren Edward Buffett (born August 30, 1930) is an American investor, business magnate, and philanthropist. He is considered by some to be one of the most successful investors in the world, and as of February 2017 is the second wealthiest person in the United States with a total net worth of $76.9 billion.Born in Omaha, Buffet developed an interest in investing in his youth, eventually entering the Wharton School of the University of Pennsylvania in 1947 before transferring and graduating from University of Nebraska–Lincoln. After graduating at 19, Buffet enrolled at Columbia Business School of Columbia University, learning and eventually creating his investment philosophy around a concept pioneered by Benjamin Graham–value investing. He attended New York Institute of Finance to specialize his economics background and soon after began various business partnerships, including one with Graham. After meeting Charlie Munger, Buffet created the Buffett Partnership. His firm would eventually acquire a textile manufacturing firm called Berkshire Hathaway and assume its name to create a diversified holding company.Buffet has been the chairman and largest shareholder of Berkshire Hathaway since 1970, and his business exploits have had him referred to as the "Wizard", "Oracle" or "Sage" of Omaha by global media outlets. He is noted for his adherence to value investing and for his personal frugality despite his immense wealth.
Albert Einstein once said:
Warren Buffett understood it. It's how he built his fortune. He produced consistently great returns for a long period of time while spending very little. He made his money work for him.
As you can see, his average return over 50 years is 21.6%. If you add in expenses and taxes, that return falls just a bit. But, because Buffett is very frugal, he's kept that number high - about 20%.
a 1.20^50 -1 = 909940% return.
So, if Buffett started off with $1,000,000.00 in 1965, he would have $91B in 2015. However, if you add in his donations and personal taxes, that number falls to his current net worth of $66.7B.
By Guest Nicole
When Warren Buffett offers investing advice, everyone listens. The world’s greatest investor has never been shy about the strategies that have helped him amass a $72 billion net worth and grow his company, Berkshire Hathaway, into a juggernaut valued at over $212 billion.
But one thing he doesn’t do is encourage the average individual investor to try to mimic his success. The best advice he can give those investors, Buffett has said, is to do exactly the opposite. We’ve parsed through some of Buffett’s more popular insights on investing to come up with a few that apply to the average worker looking simply to invest for long-term, steady growth.
1. The worst investment you can make over time: cash.
We always keep enough cash around so I feel very comfortable and don't worry about sleeping at night. But it's not because I like cash as an investment. Cash is a bad investment over time. But you always want to have enough so that nobody else can determine your future essentially.
2. Invest in a broad-based index fund that tracks the S&P 500.
If you are a professional and have confidence, then I would advocate lots of concentration. For everyone else, if it’s not your game, participate in total diversification. The economy will do fine over time. Make sure you don’t buy at the wrong price or the wrong time. That’s what most people should do, buy a cheap index fund, and slowly dollar cost average into it. If you try to be just a little bit smart, spending an hour a week investing, you’re liable to be really dumb.
Recommended reading: “Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor” by Vanguard founder Jack Bogle. Any investor in funds should read [Bogle’s books]. They have all you need to know.
3. Invest in yourself.
“The best investment you can make is in your own abilities. Anything you can do to develop your own abilities or business is likely to be more productive.”
4. If you’re determined to pick stocks, don’t buy into a business you don’t understand.
[Individual investors] ought to think about what he or she understands. Let's just say they were going to put their whole family's net worth in a single business. Would that be a business they would consider? Or would they say, "Gee, I don't know enough about that business to go into it?" If so, they should go on to something else.... There are all kinds of businesses that [longtime partner and vice chairman of Berkshire Hathaway Charlie Munger] and I don't understand, but that doesn't cause us to stay up at night. It just means we go on to the next one, and that's what the individual investor should do.
5. Focus on the competition as well.
[Buying stock in a company is] buying a piece of a business. If they were going to buy into a local service station or convenience store, what would they think about? They would think about the competition, the competitive position both of the industry and the specific location, the person they have running it and all that.
6. Invest for the long haul.
“If you aren’t willing to own a stock for 10 years, don’t even think about owning it for ten minutes”
7. The hardest part about investing: trusting yourself.
You need to divorce your mind from the crowd. The herd mentality causes all these IQ's to become paralyzed. I don't think investors are now acting more intelligently, despite the intelligence. Smart doesn't always equal rational. To be a successful investor you must divorce yourself from the fears and greed of the people around you, although it is almost impossible.
By Guest Nicole
NEW YORK (AP) — Like the indestructible Twinkie, Chicken McNuggets are practically a culinary punchline, a symbol of hyper-processed fast food with a list of ingredients that reads like a chemistry exam. But now McDonald's wants to take at least some of the mystery substances out.
The world's biggest hamburger chain says it is testing a version without artificial preservatives.
It's the latest move by McDonald's to try to catch up with changing tastes and turn around its business, which has lost customers in recent years.
The new McNugget recipe is "simpler," and "parents can feel good" about it, the fast-food company said.
While McDonald's did not give full details about what is or isn't in the test recipe, it said the new McNuggets do not have sodium phosphates, widely used food additives that the company has said can keep chicken moist. Also, the McNuggets will not be fried in oil containing the artificial preservative TBHQ.
Chicken McNuggets have become an often-mocked symbol of heavily processed fast food since they were introduced in the 1980s. The breaded and fried nuggets are made of ground-up chicken rather than intact chunks of meat and are delivered to stores frozen.
The company said it began testing the new recipe in about 140 stores in Oregon and Washington in March. The test was first reported by Crain's Chicago Business.
As people pay closer attention to food labels, companies across the food and drink industry have adjusted recipes to remove ingredients that may sound unappetizing.
Last year, for instance, McDonald's changed its grilled chicken recipe to replace sodium phosphates with vegetable starch and to remove maltodextrin, which was used to increase browning.
The McNugget test reflects the sensitivities of parents of young children in particular. McDonald's has long targeted families, with its Happy Meals and Ronald McDonald mascot.
McDonald's said it is getting feedback from customers with the McNugget test, and did not say when it might launch the new recipe nationally.
Last week, McDonald's said sales rose 5.4 percent at established U.S. locations during the first three months of the year. The results were boosted at least in part by higher prices and the closing of underperforming stores.
McDonald's Corp., based in Oak Brook, Illinois, has more than 14,000 locations in the U.S.
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