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  1. Warren Buffett's conglomerate interrupted a beautiful Saturday by reporting quarterly earnings.

    But we'll forgive him. Because Buffett's empire touches, well, just about every aspect of the U.S. business landscape (okay, maybe not esports...yet), checking out Berkshire's quarterly reports gives us a window into the health of the economy.

    • Quick timeout: If you've never been to Berkshire's website before...here's a taste of what you can expect. Web developers, you might want to submit a résumé.

    berkshire.png

    So...how'd it do?

    At a high level—really darn well. Net income almost tripled, but per Buffett, chalk that up to a new accounting rule that requires you to include unrealized investment gains/losses in net income. Because Berkshire has so many investments, that number can fluctuate wildly.

    Where you should be looking, he says, is operating income, which jumped 67% (topping expectations).

    Let's dive a little deeper:

    • Its freight rail business (BNSF Railway) surged due to "general economic growth" generating higher demand for consumer and industrial goods (sand, fertilizer, grain).
    • Insurance (GEICO and others) also rebounded. Underwriting profit came in at $943 million, up from a loss of $22 million last year.
    • One catalyst for all this growth was the corporate tax cut. In Q2, Berkshire paid an effective income tax rate of 20%, down from 28.9% last year.

    And then there's tech: Tech? Buffett? You bet. Buffett has been steadily increasing his position in Apple. Which, you may have heard, hit $1 trillion in market cap last week. Now, $47.2 billion of Berkshire's ~$180 billion stock portfolio is invested in Apple.

    • Berkshire's other top holdings? American Express, Bank of America, Coca-Cola, and Wells Fargo.

    Bottom line, courtesy of one analyst: "Strength in Berkshire's portfolio of energy, transportation, service, retailing, and manufacturing businesses...reflect(s) broad U.S. economic strength."

  2. When did Pharmaceuticals first realize that they were better off producing a drug with the "Medicine-as-a-Service" (MaaS) model rather than trying to cure or 100% eliminate certain diseases?

     

  3. The McDonald's McGold Card is a food-redemption ticket that provides the owner with free, unlimited McDonald's for life. The existence of the card gained international attention after actor Rob Lowe flashed his on Jimmy Kimmel Live in 2015. Since then, it has been revealed that a range of VIPs and celebrities have their own version of the card - from Bill Gates to Warren Buffett. So how do 'normal' people go about getting one? Here are the details.

    When Rob Lowe appeared on Jimmy Kimmel Live with a golden McDonald's card last year, one big question remained: How could the Average Joe get his own card that granted him access to unlimited McDonald's? Not easily, a little sleuthing revealed.

    The first complication: Rob Lowe's Gold Card was not issued by McDonald's corporate office. Instead, it is from the owner of, and can only be used at, McDonald's franchises in Santa Barbara or Goleta, California.

    While Lowe says he received the Gold Card because his buddy's dad created the McMuffin, McDonald's confirmed to Business Insider that he in fact received the card from David Peterson — the buddy in question, who is now a McDonald's franchisee himself.

    Herb Peterson, who passed away in 2008, was a legendary force in the fast-food world. He debuted the first Egg McMuffin at the Santa Barbara McDonald's he co-owned with David in 1972. Peterson started his work with McDonald's as the vice president of the company's advertising firm, D'Arcy Advertising, and went on to become a franchisee and operator of six McDonald's locations.

    Today, David Peterson has carried on his father's legacy with the chain. Earlier this year, the franchises he runs in the Santa Barbara and Goleta areas became some of the first to launch "taste-crafted" sandwiches as part of the McDonald's turnaround plan, reports local news station KEYT.

    Peterson also wields the power to give out Gold Cards, granting the recipient free McDonald's at the locations he owns and operates. While Lowe is quite likely the most high-profile person to be awarded the card, he is not the first — just the first to brag about it on late-night TV.

    For example, Larry Crandell was awarded a Gold Card by Peterson on his 90th birthday, reports SantaBarbara.com. While the cards are nearly identical, unlike Lowe's card, Crandell's awarded him free McDonald's for life.

    Crandell is a bit of a celebrity in Santa Barbara, having reportedly helped raise millions of dollars for the community as a volunteer and expert emcee.

    In fact, McDonald's franchisees across the country appear to be more than happy to give local heroes free food with their own versions of the "Gold Card."  

    Warren Buffett told CNBC he had a McDonald's card that allowed him to order unlimited food for free in Omaha.

    Charles Ramsey, who ditched his half-eaten Big Mac to help rescue three kidnapped women in May 2013, was awarded free McDonald's at all locations for a year and unlimited McDonald's for the rest of his life at local Ohio restaurants.

    In March, Ottawa Senators goalie Andrew Hammond, nicknamed the Hamburglar, received a card that gave him free McDonald's for life from an Ottawa franchisee who, coincidentally, was also the father of Hammond's former coach.

    However, there are only two major confirmed stories of people in possession of cards granting them free, unlimited McDonald's anywhere in the country, or even the world.

    While on the campaign trail in 2012, Mitt Romney told a story of how his father had a "little pink card" that awarded him free McDonald's for life. McDonald's confirmed that founder Ray Kroc had given Romney the card, but did not have any record of the reason for the gift. However, the chain noted that Kroc was known to informally gift these Lifetime "Be Our Guest" cards to various people throughout the years.  

    https://www.lifehacker.com.au/2018/07/the-true-story-behind-mcdonalds-mysterious-mcgold-cards/?utm_source=quora&utm_medium=referral

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