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Fortune:The wrath of Warren Buffett: How Benjamin Moore almost broke his promise


dcollon
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Interesting article. Thanks.

 

Buffett is quoted as saying this: "If you go back to the mid-1930s, Packard was an aspirational auto brand. It was above Cadillac. Around 1936 they came out with a considerably lower-priced model. It did wonders for them immediately, but they destroyed the brand over time. If you’re a high-end brand, you can always pick up a lot of sales by dropping down. I’m not saying that’s what Valspar does; they probably have a bunch of different brands that are doing that. But it would be a big mistake for Benjamin Moore to try and take the Benjamin Moore name downscale and have a cheaper paint.”

 

Hmm, I wonder if there is some company that is often discussed on this forum to which this quote applies... :-)

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I thought it amusing that the guy picked to run Benjamin Moore was said to pass Buffett's test of being someone you want your daughter to marry.  Yet, he missed part of his son's wedding to fly out to Omaha because of course he couldn't wait even one more day.  Is that who you want your daughter to marry?

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