The Furniture Business
Berkshire's furniture business consists of the following companies:
The Nebraska Furniture Market
Purchased in 1983 for $60 million (90%), 3 stores in 2003, operates in Nebraska, Iowa, Kansas and Missouri. Total Sales in 2001 were $350 million.
August 2003 opened new 450,000 square foot store in Kansas City.
R. C. Willey
Purchased in 1994 for approximately $250 million. There were 12 stores in 2003 and it operates in Utah, Idaho, and Nevada. Total sales in 2001 were $200 million.
The Star Furniture Company
Purchased in 1997 for approximately $100 Million. It operates in Texas and total sales in 2001 were $200 million.
Jordan's Furniture
Purchased in 1999 for about $250 million. It has four stores and operates in Massachusetts and New Hampshire. Total sales in 1999 were approximately $250 million.
Cort Furniture
Purchased in 2000 for $354 million.
The Principle of Intermediate Fragmentation
On the list of Charlie's favorite books is Guns Germs, and Steel written by professor Jared Diamond. It is a book about human systems and the impact they have on history. Professor Diamond discusses the economic implications of his theories in "How to Get Rich." Professor Diamond is attempting to use history as a laboratory to identify optimal methods for business organizations, and his theories generate two fundamental conclusions.