Top Trending News For The Week (8 June 2015)

Here is what’s been happening this week!

 

1) China’s Dalian Zeus Bids $2.35 Million to Win Lunch With Warren Buffett

 

A Chinese gaming company – Da Lian Zeus Entertainment Co. won this year’s charity auction for lunch with Warren Buffett with a curious bid of $2,345,678 for an opportunity to dine at New York City’s Smith & Wollensky Steakhouse! Interestingly this was not the record bid with an anonymous individual contributing $3,456,789 back in 2012!

During this lunch it is said that Warren Buffett was willing to discuss any and every topic with the exception of what he’s buying and selling.

Taken from Bloomberg, this was the result of the Glide Lunch With Warren Buffett Results over the past 15 years:
Year   Winner                                    Winning Bid
2000 Anonymous                                      $25,000
2001 Anonymous                                      $18,000
2002 Anonymous                                      $25,000
2003 David Einhorn, Greenlight Capital             $250,100
2004 Jason Choo, Singapore                         $202,100
2005 Anonymous                                     $351,100
2006 Yongping Duan, California                     $620,100
2007 Mohnish Pabrai, Guy Spier, Harina Kapoor      $650,100
2008 Zhao Danyang, Pure Heart Asset Management   $2,110,100
2009 Salida Capital, Canada                      $1,680,300
2010 Ted Weschler                                $2,626,311
2011 Ted Weschler                                $2,626,411
2012 Anonymous                                   $3,456,789
2013 Anonymous                                   $1,000,100
2014 Andy Chua, Singapore                        $2,166,766

The winner of 2010 and 2011 Ted Weschler is currently one of the two fund managers of Berkshire Hathaway’s investment arm. Looks like he really made an impression during the lunch 🙂

 

2) Nestle’s Maggi Instant Noodle Situation

 

A BBC headline read Maggi Noodles From Nestle ‘hazardous’ – India Regulator

If you haven’t heard, Nestle – the market leader of instant noodles in India, withdrew their Maggi brand from stores after regulators found higher than allowed levels of lead in some packets.

You know things are really bad when the Chief Executive of Nestle Paul Bulcke personally came all the way from Switzerland to New Delhi to hold a news conference.

Nestle – the world’s largest food maker by revenue said that its own tests had shown no elevated lead levels and was confident that the instant noodles were safe to eat and their intent for the recall was to calm consumers concerns and to give it time to figure out the source of this issue.

 

3) Greece Once Again!

With both sides still unable to get to an agreement even after a four-month standoff, the proverbial light at the end of the tunnel appears to be nowhere in sight!

 

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