Vending Machine Mania
Welcome to Episode 1 of the Preferred Shares Podcast.
In this episode
The origin story of automated vending
The mechanics of the vending business
Warren Buffett’s foray into coin-operated machines
How vending machine companies turned into growth stocks
Technological innovations in the vending industry
The vending machine company stock bubble
Transformation of the industry
Parallels and lessons learned
Resources & additional reading
A Review of the Vending Industry, James J. O'Brien, Financial Analysts Journal
Vol. 18, No. 6 (Nov. - Dec., 1962), pp. 81-87 (7 pages) Published By: Taylor & Francis, Ltd.
Selecting Growth Stocks, Nicholas Molodovsky, Financial Analysts Journal
Vol. 24, No. 5 (Sep. - Oct., 1968), pp. 103-106 (4 pages), Published By: Taylor & Francis, Ltd.
Vendo & Coke Sales Pitch Video, 1960, (excerpt of audio played in intro)
Fastenal FASTVend program Video, 3/17/2023, Modern industrial vending
Business Week 1955-11-19: Iss 1368, 11/19/1955, Vending machine sales up 13% y/y
Business Week 1956-04-07: Iss 1388, 4/7/1956, "Vending Machines Dish Up Your Dinner or Even Fetch the Week's Groceries"
Business Week 1956-10-27: Iss 1417, 10/27/1957, FTC alleges Vendo acted illegally by acquiring Vendorlator
Business Week 1956-12-15: Iss 1424, 12/15/1956, Longer article about vending machine industry: "From Nuts to Soup—Literally"
Business Week 1957-06-29: Iss 1452, 6/29/1957, "FTC Sees Monopoly Peril in Merger Of Vending Machine Makers, Operators"
Business Week 1957-09-28: Iss 1465, 9/28/1957, "Settlement Ends Antitrust Action With Vendo Co. the Apparent Winner"
Business Week 1960-01-16: Iss 1585, 1/16/1960, Seeburg (jukeboxes) acquires Choice Vend Corp. to get into vending machine game; lots of good commentary on the industry
Business Week 1960-11-12: Iss 1628, 11/12/1960, "Vending Machines Get Savvier"; article about the recent industry trade show and all the new stuff going on with vending machines
Business Week 1961-01-07: Iss 1636, 1/7/1961, "Department Stores Test Robot Salesman"
Business Week 1961-10-07: Iss 1675, 10/7/1961, "Glamor stocks take a serious tumble"; sectors include electronics, vending, and publishing
Metal Products Manufacturing 1960-07: Vol 17 Iss 7, “Unified fronts’ for full line vending
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