Why Warren Buffett Took Out an Ad on the Same Page as One for a Strip Club

https://www.bloomberg.com/news/articles/2017-05-22/buffett-plan-revealed-amid-ads-for-co-op-strippers-old-honda?cmpid=BBD052217_BIZ&utm_medium=email&utm_source=newsletter&utm_term=170522&utm_campaign=bloombergdaily

by JumpCrisscross • 9 years ago

38 16 9 years ago

bloomberg.com

baldeagle• 9 years ago

TLDR: because the law says he has to announce some stock changes in a print paper. Lol, how vintage is that law.

Animats2• 9 years ago

Where do you put a notice that will be reliably available 20-30 years from now?

rm_-rf_slash• 9 years ago

I read in the Economist a while back that some historians speculate that the constant format changes of Information Age media could mean that historians of the 22nd century would have more primary and secondary source material from the early 20th century than the early 21st.

justinmk• 9 years ago

IPFS https://ipfs.io/

jfktrey• 9 years ago

Does the internet archive not suffice? That's the most coordinated, well known long-term preservation effort I know of.

You can upload media, the foundation isn't just for archiving websites.

dxhdr• 9 years ago

You have to do the same thing to get a Fictitious Business Name in California:

"Within 30 days of filing the Fictitious Business Statement, you are required to have the DBA statement published once a week for four (4) successive weeks in a paper of general circulation in the county where the business is operating."

There are services you can pay $30 that will print your statement in some random paper that no one reads to satisfy the requirement. It's a racket for sure.

objclxt• 9 years ago

Not just for business names! If you're a company that wants to sponsor an employee for a green card as part of the certification process you must advertise for the job in two Sunday newspapers of general circulation in the area of intended employment.

You can bet the local newspapers in Cupertino / Mountain View / Palo Alto etc have a lot of tech job ads on a Sunday.

austinjp• 9 years ago

In the UK (no idea about elsewhere) it's a requirement of planning law that certain changes to your property are advertised publicly. This means laminated A4 printouts are cable-tied to lampposts if your neighbour is planning building works. It's outdated but I quite enjoy the quaintness -- provided that I can enquire about things by current technology , not laminated notices, or faxes or postcards.

It occurs to me that I actually mean "whatever is convenient to me". Of course, what is convenient for one person might be ridiculous to someone else.

totallynotcool• 9 years ago

Vintage !== Broken

Animats2• 9 years ago

The "newspaper publication" requirement for legal notices has become a lifeline for small papers. They have a lobby trying to keep it from going away.[1] Of course, nobody reads those things; they look up the info online.

[1] https://apnews.com/7c871e1cae4f481db7ca1326a729a38c/fight-ag...

amerine• 9 years ago

I can confirm this. It was/has been a major source of revenue since the recession around '07-'08.

vit05• 9 years ago

I have a friend who works exclusively on reducing the size of such publications, finding newspapers that charge less, etc. It is funny that his business is still growing when there are so many newspapers closing the doors

cylinder• 9 years ago

New York, don't fall into this scam trap. You don't need to publish unless you want your LLC to sue or defend itself in a suit. If you're bootstrapping, don't waste money publishing, you can always publish before suing or defending

JumpCrisscross• 9 years ago

You don't need to publish [in New York State] unless you want your LLC to sue or defend itself in a suit

"The Limited Liability Company Law and Partnership Law include provisions regarding the publication required upon the formation or authorization of domestic and foreign limited liability companies, limited partnerships and limited liability partnerships (hereinafter referred to as 'limited liability entities'). The applicable statutory provisions should be consulted prior to publishing.

...

Limited liability entities that are formed or authorized to do business in New York after June 1, 2006, which fail to comply with the publication requirements within 120 days after their formation or qualification will have their authority to carry on, conduct or transact any business suspended. [1]"

TL; DR Do not violate the publication requirement. When suing a New York LLC, a common tactic is to show this requirement was not met. That then retroactively dissolves the LLC and lets you pierce through to the owner's assets.

[1] https://www.dos.ny.gov/corps/llcfaq.asp#pubreq

Disclaimer: I am not a lawyer. Do not take legal advice from my Internet comments.

Why Warren Buffett Took Out an Ad on the Same Page as One for a Strip Club

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