3M

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Subject:	Miscellaneous
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Date:	June 29, 2002
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Length:	6 / 1565
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Also 3Ms' consistency can be measured by its' longevity in the fact that 3M was established over 100 years ago in 1902. The last of the business tenets is favorable long term prospects. Favorable long term prospects can be generalized into whether or not the firm can not only sustain its market share but also if the firm has products being developed that can increase its' market share...
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3M can be characterized as what Buffett refers to as a "franchise" or a company that provides a product that is needed, has no close substitutes, and is not regulated. 3M's core products are household products that are perpetually in demand with substitutes that are considered inferior by many because of the strength of the 3M brand name...
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