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MONDAY, NOVEMBER 23, 2009
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6

For Buffett, Best Suits Are Made in China

Obscure clothier outfits Omaha sage, Bill Gates—and Hu Jintao

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(Newser) – One is America's most famous capitalist, the other leads China's Communist Party. But Warren Buffett and Hu Jintao have something in common—they both get their suits from Trands, an obscure northern Chinese menswear company not open to the public. Buffett, who recently recorded a promotional video for Trands' owners, tells the Wall Street Journal: "I went 78 years before I got a compliment on my appearance."

Shares in the company that owns Trands have jumped 70% on the Shanghai stock market since Buffett recorded the video. He got his first of nine suits during a visit to the city of Dalian; he's since invited the company's founder to his annual shareholders' meeting in Omaha—and given his old suits to charity. Bill Gates is another satisfied Trands customer—but while the clothier is proud of its American billionaire customers, it's quieter about its affiliation with President Hu. "It's a bit sensitive," the company's press officer admitted.

Bill Gates plays bridge opposite Berkshire Hathaway CEO Warren Buffett at the annual Berkshire Hathaway shareholders meeting in Omaha, Neb., Sunday, May 3, 2009.
Bill Gates plays bridge opposite Berkshire Hathaway CEO Warren Buffett at the annual Berkshire Hathaway shareholders meeting in Omaha, Neb., Sunday, May 3, 2009.   (AP Photo/Nati Harnik)
Chinese President Hu Jintao waits to address the 64th session of the United Nations General Assembly at United Nations headquarters, Wednesday, Sept. 23, 2009.
Chinese President Hu Jintao waits to address the 64th session of the United Nations General Assembly at United Nations headquarters, Wednesday, Sept. 23, 2009.   (AP Photo/Frank Franklin II)
Berkshire Hathaway CEO Warren Buffett plays bridge with shareholders at the annual Berkshire Hathaway shareholders meeting in Omaha, Neb., Sunday, May 3, 2009.
Berkshire Hathaway CEO Warren Buffett plays bridge with shareholders at the annual Berkshire Hathaway shareholders meeting in Omaha, Neb., Sunday, May 3, 2009.   (AP Photo/Nati Harnik)
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Five minutes after I got into the hotel room these guys came bursting into the room and before I knew it, the two of them were sticking measuring tape around my thigh. It seemed a little personal to me. - Warren Buffett

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6 comments
VIEWING:
 
ezrider
Sep 24, 09 9:29 AM CDT
just don't buy toys,electronics,household goods etc. ,etc. Reply
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+1
IN RESPONSE:
WallyEFunk
Sep 24, 09 10:34 AM CDT
Had to buy tie rods for the car, 15.00 or 60.00, like most PPL bought the cheaper. Thing I don't get it all the PPL saying buy America, IF they did the one, high quailty,TV ,VCR American company company would still be in business. Where were they ?
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0
Snarfeh
Sep 24, 09 10:21 AM CDT
Actually, China is quite capable of making quality products. The real problem is that American and other foreign companies that sent their manufacturing to China don't want to pay for the higher quality. The very reason they sent the work there in the first place, i.e. profit, is defeated if they pay more for quality. Reply
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IN RESPONSE:
schmidtkoff
Sep 24, 09 12:08 PM CDT
at the loss of american jobs. that's the tragedy.
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+1
IN RESPONSE:
radnip
Sep 25, 09 4:15 AM CDT
Look around: There's plenty of riches to go around, all around the world. Name one country without a rich class...Oh, there isn't one? It's too bad poor workers are convinced that they compete for resources only with other poor workers.
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