Bill Gross "PIMCO BOND KING" 9 Million Proceeds of Stamp Auction to Doctors Without Borders!

[KoKo]

http://www.nytimes.com/2007/06/12/business/12stamp.html?partner=rssnyt&emc=rss&pagewanted=print

June 12, 2007
Rare Stamps Fetch $9 Million
By MATTHEW HEALEY

William H. Gross, the bond investor and chief investment officer of Pimco, confirmed his prowess in another area yesterday when his collection of 19th- and early 20th-century British stamps was auctioned in New York for $9.1 million.

The proceeds were donated to Doctors Without Borders, the international humanitarian charity. Bidding took place live, by telephone and over the Internet.

Shortly after the auction ended, Mr. Gross said that he was gratified by the amount raised. He said that he had acquired some of the stamps within the past decade for as little as one-tenth to one-quarter the amounts they brought yesterday.

The top item — a reconstructed mint block of 24 of the world’s first stamp, the Penny Black of Britain, issued in 1840 — sold for $1 million.

Another item — an envelope mailed from England to Malta in 1841, bearing five Penny Blacks and three Two-Penny Blues — sold for $650,000 to a buyer from Britain.

It brought the highest amount ever bid over the Internet for a philatelic item, according to Charles Shreve, the president of Shreves Philatelic Galleries, which handled the auction. Mr. Shreve and his wife, Tracy, had assisted Mr. Gross in building the collection over more than a decade.

Dr. Darin Portnoy, president of the United States section of Doctors Without Borders, said that the donation was the largest from the United States in the charity’s 36-year history, and would be used to improve rapid response around the world.

He said priorities were in areas like Jordan and the Kurdish area of northern Iraq, where war refugees with drastic injuries needed urgent and extensive surgery; and Chad and Sudan, where refugees from fighting in Darfur and related conflicts suffered from serious malnutrition.

Mr. Gross said that he intended to continue building and exhibiting his collections of stamps.

http://www.nytimes.com/2007/06/12/business/12stamp.html?partner=rssnyt&emc=rss&pagewanted=print

[midnight]

1. Finally some good news.... Thanks for sharing this. And thanks

to Mr. Gross for sharing his talents, and money.

[pinto]

2. That's great. Thanks for passing this on.

[KoKo]

3. Well it made me feel that "Not ALL IS EVIL" in our world today ....

and unless the RW finds that Gross has "Sex Slaves living in his House" I will be happy that a HIGH ROLLER like Bill Gross could think of giving to "Doctors without Borders." If I was Rich and Famous..."Doctors without Borders" would be one of MY OWN TOP CHARITIES to give to.

But, alas...I'm not Rich or Famous...so, I'm glad that Gross gave for those of us who don't have the resources.

BTW: Bill Gross was AGAINST THE IRAQ INVASION and wrote an impassioned article about it when all of WALL ST. was MARCHING TO BUSH/GIULIANI DRUMS!

I've watched Bill Gross for years...and hope and pray he's the GOOD GUY that he seems to be...

But..it's a great story...while it lasts, isn't it?

[KoKo]

4. A kick for a good Wall ST. GUY...who wrote Editorial Against Iraq Invasion way back!