Blue Chip Stamps

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Blue Chip Stamps started as a trading stamps company called "Blue Chip Stamp Co."

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".

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.

Trading stamp sales of Blue Chip dropped from $102.5 million in 1972 to $1.2 million in 1991.

[edit] 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.

Wesco Financial Corporation is a wholly owned subsidiary of Blue Chip Stamps.