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Santiago
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The New Yorker profiles Carlos Slim
http://www.newyorker.com/reporting/2009/06/01/090601fa_fact_...
The above link takes you to very short recap of a long profile piece of Carlos Slim in the June 1 issue of the New Yorker. Unfortunately, you need to
be a subscriber to read the entire piece but maybe you can find a copy from someone who is or use their log-in info. It's worth the effort as the
writer spent a lot of time following Mr Slim around, with Mr Slim's permission, and you get a good feel for how the man operates. You also get a
glimpse into how Telecel works. Worth the effort.
Couple of things I learned about Carlos is that he was driven to accumulate from an early age, he is very frugal (his headquarters is still in the
same basic drab building it's always been in) and he always waits for bad times to buy whole companies on the cheap.
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flyfishinPam
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| Quote: | Originally posted by Santiago
and he always waits for bad times to buy whole companies on the cheap. |
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Bajahowodd
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I think there's an envy factor at work here. Slim's parents were merchants, but not really wealthy. Slim, himself, actually earned money driving a cab
in Mexico City. Not saying that Carlos Slim Helu should be nominated for the Nobel prize, but one must admire how he has flourished, given relatively
modest beginnings. And yes. He is behind a slew of charitable operations. Frankly, I wonder sometimes if gringos don't begrudge him of his success
because he is both someome of Middle Eastern descent and a citizen of Mexico. And, he is certainly not infallible. Among other failures, think Comp
USA. What he is, is a person willing to take a risk. Seems to me to be the personification of a US/ world capitalist.
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flyfishinPam
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no its the concentration of wealth and how easy it is in these times that angers me.
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Bajahowodd
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Slim has no monopoly. There's way too much concentration of wealth NOB. And sadly, it appears no one has grown a soul since the financial debacle.
Case in point. I have a relative who is a commodities trader for a major Wall Street firm. His specialty is energy. If anyone hasn't noticed, the
price of a barrel of crude is now over $70, despite OPEC keeping production constant. What's driving the increase? Speculators who are buying future
deliveries betting on the economy recovering. Gas at the pump went up over 50 cents per gallon in CA in the last month. It's not supply and demand.
It's speculators.
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flyfishinPam
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well your position may be different from the average Mexican who is trying like hell to keep their head above water right now. what telephone choices
do we have? Telmex is our only choice for a landline and Telcel is the only reasonable choice for wireless.
technically America Movil does not have a monopoly on the wireless but in MOST areas of Mexico outside DF they certainly do. recently the head of SCT
resigned in disgrace over disclosure that favors were being performed in the telecommunications sector. when you have to run a business or are an
average worker trying to keep up with the high costs of telcel and telmex here in Mexico (and the low value of the peso), then come back and talk to
me.
I did a google search with the following words, carlos+slim+monopolista
http://www.google.com.mx/search?hl=en&q=carlos+slim+mono...
if you read Spanish you may come to a different conclusion. keep in mind he owns much of the media in Mexico and an increasing amount in the USA.
there are countless search key words you can use, do some Spanish searches from Mexican sources and consider the source when flipping the switch on
the BS meter. we should always have our BS meter running when seeing, reading or hearing any "news" and "information" sources.
sorry if I sound harsh maybe I need more caffeine.
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flyfishinPam
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| Quote: | Originally posted by Bajahowodd
If anyone hasn't noticed, the price of a barrel of crude is now over $70, despite OPEC keeping production constant. What's driving the increase?
Speculators who are buying future deliveries betting on the economy recovering. Gas at the pump went up over 50 cents per gallon in CA in the last
month. It's not supply and demand. It's speculators. |
wow what a way to jumpstart the economy! no wonder we're in the trouble we're in I don't think I would send him to bet with my money 
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capt. mike
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yur right on!
| Quote: | Originally posted by Bajahowodd
Slim has no monopoly. There's way too much concentration of wealth NOB. And sadly, it appears no one has grown a soul since the financial debacle.
Case in point. I have a relative who is a commodities trader for a major Wall Street firm. His specialty is energy. If anyone hasn't noticed, the
price of a barrel of crude is now over $70, despite OPEC keeping production constant. What's driving the increase? Speculators who are buying future
deliveries betting on the economy recovering. Gas at the pump went up over 50 cents per gallon in CA in the last month. It's not supply and demand.
It's speculators. |
it's what drove it to $150 a BBL last year! frickin speculators gambling on arbitrage.
i am SOOOO glad many of those human tirds got burned on their calls when they came due. basturos!
i have to buy avgas today....none too happy about it either! headed towards $6 a gal again......
formerly Ordained in Rev. Ewing\'s Church by Mail - busted on tax fraud.......
Now joined L. Ron Hoover\'s church of Appliantology
\"Remember there is a big difference between kneeling down and bending over....\"
www.facebook.com/michael.l.goering |
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Bajahowodd
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Just maybe, Slim will have to deal. But not until after the next election. With what has happened with Calderone's drug war, I think the PAN is
vulnerable. If the PRD gains traction, there just may be a movement similar to what happened NOB. Remember when Ma Bell was forced to break up by the
government?
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mtgoat666
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| Quote: | Originally posted by capt. mike
| Quote: | Originally posted by Bajahowodd
Slim has no monopoly. There's way too much concentration of wealth NOB. And sadly, it appears no one has grown a soul since the financial debacle.
Case in point. I have a relative who is a commodities trader for a major Wall Street firm. His specialty is energy. If anyone hasn't noticed, the
price of a barrel of crude is now over $70, despite OPEC keeping production constant. What's driving the increase? Speculators who are buying future
deliveries betting on the economy recovering. Gas at the pump went up over 50 cents per gallon in CA in the last month. It's not supply and demand.
It's speculators. |
it's what drove it to $150 a BBL last year! frickin speculators gambling on arbitrage.
i am SOOOO glad many of those human tirds got burned on their calls when they came due. basturos!
i have to buy avgas today....none too happy about it either! headed towards $6 a gal again...... |
exxonmobil has been very, very good to me. keep on driving those V-8s -- in need the dividends
with peoples addictions to energy, you can hardly ever go wrong buying stock in well run utilities and fossil fuel producers and transporters.
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Bajahowodd
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Thanks for the investment tip.
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longhairedbeatnik
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I will only invest in energy companies when they are really energy companies. They should invest in all areas of green energy and deliver energy
through many avenues.
50% oil and the rest alternative resources.
Can you imagine the stock of any company that did this as their business model.
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tripledigitken
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The rise of the price of oil recently has followed the drop in the value of the dollar. As big a reason for the rise in oil, as is speculation in the
commodities market. The drop in the dollar for the most part is the result of our current financial policies out of Washington. Policies which the
world has no faith in, sorry to say.
Ken
[Edited on 6-6-2009 by tripledigitken]
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BajaGringo
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I lost the faith several years ago...
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mtgoat666
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| Quote: | Originally posted by longhairedbeatnik
I will only invest in energy companies when they are really energy companies. They should invest in all areas of green energy and deliver energy
through many avenues.
50% oil and the rest alternative resources.
Can you imagine the stock of any company that did this as their business model. |
yes. don't need to imagine, 100s already out there, most not showing a profit despite heavy tax credits. need another cheney/enron to raise
wholesale electric prices so alt powe generation is profitable.
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woody with a view
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ATW
PBR
TC
FSUMF
V
we've been buying on the ride up,down and back up. but who's counting? see me in 20 years when i need the $.
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Bajahowodd
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Day trader in ob?
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woody with a view
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negative.
long - 2 roth's, 1 401k.
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flyfishinPam
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so the speculator comment from above (first I think) stated that the price of oil is $70 and rising and that rise is counting on the economy looking
better in the near future, which dictates an increased demand?
later on in the thread the price of oil is being driven up due to the decreasing value of the dollar??
fisherwoman confused here.
these two reasons seem almost polar opposites but the second one sounds more realistic
avgas $6 bucks a gal? holy #^@%!
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arrowhead
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If you want some perspective on the US attitude to charity vs Mexico, there is probably none better than Carlos Slim. The three richest people in the
world, in order, are (1) Bill Gates, (2) Carlos Slim, and (3) Warren Buffett.
Bill Gates has endowed a charitable trust with over $40 Billion. That is Billion, with a capital "B". And Microsoft gives additional $ billions in
computers and software to schools. Warren Buffett has already given away billions and has made no secret that he is leaving his entire estate (over
$60 Billion now) to charities when he dies. Carlos Slim has contributed about $7 Billion to charities...a distant third.
People were talking about the street children in Mexico who are not in school because their parents cannot afford uniforms and books. Well, Carlos
Slim could buy uniforms and books for every poor child in Mexico out of his pocket change, if he so desired.
[Edited on 6-7-2009 by arrowhead]
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