Thank you Warren Buffet for doing the right thing.......dumping ownership of J & J stockCTA wrote this posting back in May 2008:
Just a heads up Warren Buffet, you might want to dump your stock ownership of J & J now while you can still make a profit. Because answering RICO charges may be J & J / RWJF's next appearance in court. Yes smoking bans help increase Nicoderm and Nicoderm CQ sales and J & J's 1st quarter '08 profits by 40%, but the results of their foundation's (RWJF) rent seeking lobbying efforts is massive business closings and tens of thousands of job losses.
Today 2/17/09 I found this Forbes article:
Berkshire Hathaway sheds half of J&J stake
Associated Press, 02.17.09, 06:55 PM EST
Billionaire investor Warren Buffett's company sold more than half of its stake in Johnson & Johnson in the last three months of 2008.Thank you Mr. Buffet......I doubt we at CTA had anything to do with your decision; but we appreciate it nonetheless. Hopefully you made a profit.
Is Berkshire Hathaway interested in exposing the worldwide economic damages to business and jobs caused by smoking bans?