GM's Mark Stielow Admits the OBVIOUS about CAFE -- We're Gonna Get Screwed

[SuperBuickGuy]

They've got more costs than "paper" wealth for sure. But then you've got the enjoyment of ownership while you're the custodian of them.

Really? walk next to their car with an ice cream cone in one hand, a hot dog in the other, and a big old belt buckle on your jeans.... let me know how that enjoyment is going for them.

Cars are an awesome way to take a large fortune and make it a small one.


heck, the Seattle Tucker sold for 300k - granted, it was a fixer, but even so, that's maybe a 200k profit at 1m when done.... maybe.... and you're still driving a car with a helicopter motor.


oh and Walmart. How do you make money in retail? by investing in banks.

[Gateclyve Photographic]

heck, the Seattle Tucker sold for 300k - granted, it was a fixer, but even so, that's maybe a 200k profit at 1m when done.... maybe.... and you're still driving a car with a helicopter motor.


oh and Walmart. How do you make money in retail? by investing in banks.

You might be a few stacks below market on your Tucker basket case calculations.

As for making money in retail . . . the traditional way that it's been done for at least the past 140 years or so is by exploiting some change in delivery, assortment, convenience, or order filling technology. (and the way to lose money is by missing the big changes)

Aaron Montgomery Ward in 1872: Shipping goods to rural customers by rail.

Frank Winfield Woolworth in 1878: Chain "five and dime" stores.

S.F. Bowser and Jake Gumper in 1885: kerosene pumps and service stations

Richard Warren Sears in 1887: Shipping goods by mail.

James Cash Penney in 1898: Chain department stores in small towns

George Pepperdine in 1909: Auto parts in retail stores

Gulf Refining Company in 1913: drive-in service station

John Jefferson Green in 1927: Selling convenience items (bread, milk, eggs) out of ice houses (genesis of the convenience store)

Roy Warshawky in 1934: Mail order sales of obsolete OEM inventory and used auto parts.

Ed Almquist in 1946: Mail order hot rod parts.

Harry Cunningham and S.S. Kresge in 1962: Discount department stores.

Sam Walton, later in 1962: Discount stores in small towns.

Jeff Bezos in 1995: Internet retailing.


The foregoing list is not exhaustive. But it is informative. While many of the these retail pioneers eventually got into banking and financial services, it typically wasn't the cornerstone of their fortunes.