Honey Infused Whole-Wheat Sunflower Seed Bread

How do you eat so much, do so little physical work, and stay fit? Great looking bread, Joshua! 🙂

Heaven knows I could be in better shape but we don't eat all of it; we give obscene amounts of food away. Back when I was on my apple pie kick to find the best recipes I could, I can't even remember how many full pies I gave to friends, family, and acquaintances. When I was testing jam reduction methods and cinnamon breads, I would take the extra loaves and jars to my parents' factory and give them away in exchange for critical reviews to improve the final product.

Maybe it's a Midwestern thing. My grandmother has shown up at the door with an entire hams, industrial size jars of maraschino cherries, lemon cakes, and cornbread because she was in the mood to cook or got a good deal. People tend to show up in our kitchen, pull up a barstool, and ask what is on the stove. We go through a lot that way.

As a nerdy flour connoisseur my wife and i have been experimenting with different flours for years and have switched to only baking with Canadian flour. The bread seems to be more consistent, and tastes better. Canadian flour is made up of 100% hard wheat while the American wheat has soft wheat mixed in, the result is a more gluten rich flour. I'd encourage you to give it a try.
Cheers,
Scott

That sounds interesting; thanks for the suggestion! Do you have any recommended brands or sources?

We usually get the Robin Hood brand flour, however other brands seem to have the same consistent quality.

Is it a realistic possibility that the Walton family could take Wal-Mart private within the next twenty years?

They could do it now. They have more than enough ownership, and it would require nothing more than a huge syndicate of major banks or a private bond issue to pull it off. The firm itself is so profitable it would pay for itself before long. It's not far fetched.

It would probably produce some political headaches for them, though. Right now, you have millions of people who own shares of Walmart in their retirement, pension, and brokerage accounts. When issues like Walmart's profitability and minimum wage come up, they are likely to realize that it affects them and, even if subtly, guard the firm's interest to some degree in the way they vote and behave. Were the company entirely private, that incentive system would go away so it would result in a much greater "Big Bad Walton" problem, I would think.

Personally, I wouldn't take it private. I'd be more inclined to use the dividends like they are through the Walton Enterprises holding company and buy up other, diversified assets that could be hidden or kept out of the public eye.

On the subject of Walmart, given that you have it in KRIP and have added it to various relative's portfolios - do you have concerns about the short-term (recently reduced 2013 outlook) and about the longer-term (competitors like Amazon)?

Best, Al

I don't have it in the KRIP and haven't for awhile. I do have some of my family still holding their shares because they were acquired back when it was cheap in the upper 40's and lower 50's, which they continue to hold and have dividends reinvested. That's a different calculation from someone analyzing the business at today's market price.

It's on the "watch closely" list because the operational skills of the business are beginning to become concerning to me. It is now a constant source of conversation in my part of the country about the ineptitude of Walmart's inventory department as they never have the same product in stock, they are always rotating brands, and only one or two checkout lines are ever opened. When I bought 1 of every one of the McCormick gourmet line of spices, Walmart didn't have a huge percentage of them in stock - they were sitting there, empty spots open on the shelf. They've taken inventory management too far. They also have an absolutely God-awful website experience and fulfillment process (I get 6% cash back through the Upromise program if I shop on the website, and I can barely stand it so it's not worth the free money to me sometimes).

If Walmart fails, it won't be because of competition, it will be because they forgot their "moat" and tried to financially engineer the business (e.g., reducing inventory investment to raise ROE) so that it ultimately drives away customers. I know people who stopped shopping there entirely, and you're talking about $2,000 or $3,000 per year, per family.

I'm coming back to this late. You note that you are comparing your different bread pans? How would you rate/compare the two pans you used for this bread, or your bread pans in general?