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Blue Chip Stamps started as a trading stamps company called "Blue Chip Stamp Co." Trading stamps are small paper coupons given to customers by merchants. ...
In 1963, the United States government began an antitrust action against Blue Chip Stamp. In 1967, the parties agreed to a consent decree which led to the creation of a new company "Blue Chip Stamps". Antitrust laws, or competition laws, are laws which prohibit anti-competitive behavior and unfair business practices. ...
DECREE - The judgment or sentence of a court of equity which corresponds to the judgment of a court of law. ...
In 1975, a lawsuit filed by Blue Chip Stamps was decided by the Supreme Court in the opinion Blue Chip Stamps v. Manor Drug Stores. This ruling helped establish the precedent that only buyers or sellers of securities can file suit for damages due to deceptive practices.
Berkshire Hathaway, the investment vehicle of Warren Buffett, began investing in Blue Chip Stamps sometime before 1977. Berkshire's investment in Blue Chip went from 36.5% in 1977, to 60% in 1979, to the 80.1% it is today. Berkshire Hathaway (NYSE: BRKA, NYSE: BRKB) is a massive holding company headquartered in Omaha, Nebraska, USA, that oversees and manages a number of subsidiary companies. ...
Warren Edward Buffett (b. ...
Trading stamp sales of Blue Chip dropped from $102.5 million in 1972 to $1.2 million in 1991.
Acquisitions
On January 3, 1972, Blue Chip obtained a controlling interest in See's Candy Shops. Blue Chip later acquired 100% of See's for an overall price of $25 million. A typical Sees Candies store. ...
Blue Chip Stamps is a wholly owned subsidiary of Wesco Financial Corporation. Wesco Financial Coproration (AMEX:WSC) is a diversified financial corporation headquartered in Pasadena, California. ...
External links - Blue Chip Stamps v. Manor Drug Stores text
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