Poor People

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  • 20 Jan 2010 at 10:35 AM

The Oracle Is Cranky and Poor

warrenbuffett.jpgWe knew that Warren Buffett wasn’t too happy with Kraft’s planned acquisition of Cadbury – he’s been firing shots for a while now – but today, he’s saying that he “feels poorer” because of it. The deal doesn’t need to be approved by shareholders, which is good news for the Kraft/Cadbury people, because Buffett told CNBC this morning that if he could, he’d “vote no.”

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College isn’t worth it and you should stay out of corporate America, Michelle Obama, the Princeton graduate who went to Harvard Law School before joining the white shoe Chicago law firm Sidley & Austin, told an audience of working mothers at a daycare center in Zanesville, Ohio.
After speaking of the burdens of student loans from her upper-crust education, the wife of Democratic presidential hopeful Barak Obama told the women at the day-care center that she’d prefer they not follow in her upwardly mobile footsteps. Better if they stay in their place, back in “the community.”
“We left corporate America, which is a lot of what we’re asking young people to do,” Byron York reports Michelle told the women. “Don’t go into corporate America. You know, become teachers. Work for the community. Be social workers. Be a nurse. Those are the careers that we need, and we’re encouraging our young people to do that. But if you make that choice, as we did, to move out of the money-making industry into the helping industry, then your salaries respond.” Faced with that reality, she adds, “many of our bright stars are going into corporate law or hedge-fund management.”
York points out that spending too much on college and getting too involved with bank-account enriching and presumably soul-sucking corporate America is not too much of a problem for the people of Zanesville. “According to the U.S. Census, Muskingum County, where Zanesville is located, had a median household income of $37,192 in 2004, below both the Ohio and national averages. Just 12.2 percent of adults in the county have a bachelor’s degree or higher, also well below the state and national averages. About 20 percent don’t have a high school degree,” York writes.
Well, at least she wasn’t telling grade school kids in the Bronx that they were studying too hard.

Michelle Obama: “Don’t Go Into Corporate America”
[The Corner]