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Time mags influential people issue is out and it lists Koch as one of them. It has recruited Karl Rove to write the fawning piece.

By grit persistence and hard work they built a 100 billion -a-year business that employs thousands.
Nary a mention of the inheritance with which they started. I tried to find out exactly what how much they inherited and when. The wiki piece just says they have grown their inheritance by 2000%, an annual compounding rate of 18%. So they must be some super duper managers, right?

I looked up S&P 500 in, it went from 55 in 1960 to 1526 in 2006. A growth of 2774%. Found historical data on Dow Jones too. It went from 615 in 1960 to 12463 in 2006. Growth of 2026%.

So basically for all that "management" these guys did, they might as well put the whole thing in an index fund and realized better gains. Basic truth is, they got where they are due to their inheritance, not because of grit, determination or hard work. Nor are they above average in performance.

Rove will do his best to mythologize about the Kochs. His pay check depends on it. We need to counter this.

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Comment Preferences

  •  Back in Bush Yrs Someone Pointed Out Trump (9+ / 0-)

    would've done far better putting his inheritance in index funds and spending his entire career playing amateur golf.

    Don't know how to search on that but someone might know.

    I think Thom Hartmann calculates that the lobbying money of the top end returns 10,000 fold. So if the Kochs were investing in politicians --and we know they've sunk a fortune in them-- that would probably account for all their growth.

    We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

    by Gooserock on Sat Apr 26, 2014 at 07:00:24 PM PDT

  •  Old Edgar Bronfman Quote (13+ / 0-)

    To turn $100 into $110 is work. To turn $100 million into $110 million is inevitable.

  •  Fred Koch and Hitler. Look it up. (1+ / 0-)
    Recommended by:

    "Nothing in all the world is more dangerous than sincere ignorance and conscientious stupidity." --M. L. King "You can't fix stupid" --Ron White -6.00, -5.18

    by zenbassoon on Sat Apr 26, 2014 at 07:39:23 PM PDT

  •  Henry Luce's rightwing legacy (7+ / 0-)

    still cranking out anti-New Deal propaganda after all these years???

    Not surprised. Of COURSE Time's editorial board handed the keys to the printing presses to Karl Rove.

    Darling, you didn't use canned salmon, did you?

    by JrCrone on Sat Apr 26, 2014 at 08:21:59 PM PDT

    •  This is a special Time's issue: 100 most (3+ / 0-)
      Recommended by:
      NancyWH, a2nite, xaxnar

      influential in the world.

      Each short entry is written by an admirer. There are scientists, politicians, entertainers, etc.

      Kristen Gilliabrand is praised by of all people Al DeMato.

      What I found interesting is that except for Gilliabrand, there are no up and comers on the D side.

      When you look at all of the Rs that are getting press, you have to wonder where are the younger Dems?

      The Rs have Paul, Cruz, Paul Ryan, several governors, etc who are constantly in the news. The only Dems I hear about are Hillary, Sen. Bernie Sanders and a few other older pols. That's about it.

      Where is our future? Where are the younger Dem pols? Why aren't they making news - getting the name recognition they will need to get elected to more powerful positions.?

      It’s the Supreme Court, stupid! Followed by: It's always the Supreme Court! Progressives will win only when we convince a majority that they, too, are Progressive.

      by auapplemac on Sun Apr 27, 2014 at 01:36:10 AM PDT

      [ Parent ]

      •  Short Answer (0+ / 0-)

        Up and Coming Democrats are a threat to here and invested Democrats who don't want to ruin a good thing. Must Not Rock DNC boat...

        "No special skill, no standard attitude, no technology, and no organization - no matter how valuable - can safely replace thought itself."

        by xaxnar on Sun Apr 27, 2014 at 11:22:16 AM PDT

        [ Parent ]

      •  Martin O'Malley, Corey Booker, Allison Grimes (0+ / 0-)

        to name a few.

        Free: The Authoritarians - all about those who follow strong leaders.

        by kbman on Sun Apr 27, 2014 at 01:20:35 PM PDT

        [ Parent ]

        •  Aside from Booker and Warren, the others you (0+ / 0-)

          mention may be on our radar, but have vertually no general public recognition. Not like the Rs I listed.

          It’s the Supreme Court, stupid! Followed by: It's always the Supreme Court! Progressives will win only when we convince a majority that they, too, are Progressive.

          by auapplemac on Sun Apr 27, 2014 at 02:56:55 PM PDT

          [ Parent ]

  •  I suppose (4+ / 0-)
    Recommended by:
    JeffW, ColoTim, RamblinDave, ranton

    this is the link to the brief piece in Time in which Rove, having disgraced himself totally in the last election, tries to suck money out of the Kochs. A snip:

    David and Charles Koch are patriots. By grit, persistence and hard work, they built a $100 billion-a-year business that employs tens of thousands. ....  [LOL!] ....

    The Kochs have answered abuse with courage, giving encouragement to others on the center-right [!!] to get into the fight. Bless them for all they do and all the liberals they send into orbit.

    Rove sounds profoundly pathetic, and the fact that corporate media conglomerate Time-Warner gives him space should cost it any credibility it might have hoped to have.

    Is it just me, or is this hilarious?

    "Let each unique song be sung and the spell of differentiation be broken" - Winter Rabbit

    by cotterperson on Sat Apr 26, 2014 at 09:15:26 PM PDT

  •  It's TIME. What do you expect? (3+ / 0-)
    Recommended by:
    NancyWH, a2nite, Roadbed Guy

    Years ago my parents subscribed to TIME. After they had let their subscription lapse, a telemarketer called my mother and tried in vain to persuade her to renew. When he asked why she wouldn't, she replied "Because it's a magazine for semi-literate Republicans!"

    Certaines personnes disent qu'il y a une femme à blâmer, Mais je sais que c'est ma faute sacrément.

    by RamblinDave on Sun Apr 27, 2014 at 01:33:45 AM PDT

  •  This publication also listed Snott Walker in the (0+ / 0-)

    most 100 influential people in the world ranking...yup, right up there with Ghandi!

    Too bad Christie used false economic data in his "fan" article on Snotty.  Gad...the Kochs and like-minded Corporatists want to make Walker a contender. I know they want another Reagan they can control but slimy, oily, vacant-eyed Walker?!

    Robber Baron "ReTHUGisms": John D. Rockefeller -"The way to make money is to buy when blood is running in the streets"; Jay Gould -"I can hire one half of the working class to kill the other half."

    by ranton on Sun Apr 27, 2014 at 10:47:10 AM PDT

  •  It's one reason I don't read TIME any more (0+ / 0-)

    I get more information, better information, faster information here than TIME ever could manage.

    "No special skill, no standard attitude, no technology, and no organization - no matter how valuable - can safely replace thought itself."

    by xaxnar on Sun Apr 27, 2014 at 11:19:56 AM PDT

  •  And their various grifts (0+ / 0-)

    like the skimming of oil off their Osage Nation clients.

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