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View Full Version : Warren Buffet buying Iscar of Israel



cuemaker
05-08-2006, 10:40 AM
OMAHA (CNN/Money) - If every year you had more cash than the year before, would you have a problem with that? If every year you had a lot more cash than the year before, would you have a problem with that? And if, at last count, your cash had piled up to $37 billion, would you have a problem with that?

You would if you were Warren Buffett -- and this embarrassment of riches has been bothering the chairman of Berkshire Hathaway (Research) Inc. for years.


That's why his announcement this week that he is spending $4 billion in cash to buy Iscar, an Israeli-based machine-tool maker, is so important. "It's the first business we've purchased that's based outside the US," Buffett said on Saturday in his remarks to 24,000 shareholders assembled at Berkshire's annual meeting in Omaha. "I think we'll look back on this in five or ten years and see this as a very significant event in Berkshire's history."

lynnl
05-08-2006, 11:12 AM
<quote> You would if you were Warren Buffett -- and this embarrassment of riches has been bothering the chairman of Berkshire Hathaway (Research) Inc. for years. <end quote>

And we think we have a tough life...!

PTSideshow
05-08-2006, 11:51 AM
If it bothered him that much why doesn't he start doing some good by sending kids thru college or passing out a mill here and there to see what people can do with it.:D

IOWOLF
05-08-2006, 11:53 AM
Yep ,I was there when he said it, Omaha hosted Warren and the stock holders at the annual meeting last week.
I wish I would have took pics.
Got my stock (1 share) in 1977 as a graduation present.Cost grandma about $100.00. GOD REST HER SOUL.

cuemaker
05-08-2006, 01:04 PM
Wolfe, of course you know what that share is worth right?????

Also, its Berkshire (the company) that has the money. Not Warren himself (I think). Mr. Buffet is the 2nd richest man in the world next to Bill Gates.

I am not sure, but I think that the companies cash is different that Mr. Buffetts net worth(36million)



Edit. Ment to say 36 BILLION. small difference

Peter N
05-08-2006, 01:33 PM
That is some share price.
At $89,705 per share is the next party at Mr Wolf's house? Where do we write the begging letters to? :D :D

Peter

Evan
05-08-2006, 01:36 PM
Warren Buffett's net worth is about 44 billion, nipping on Billy's heels. His company Berkshire Hathaway is worth around 120 billion. He still lives in the house he paid $31,000 for in 1957 and only takes a salary of 100k per year.

IOWOLF
05-08-2006, 02:19 PM
Yep, Omahan all through it all.he is just right across the river.Though I have never talked to the man.;)

Cue,As i get a letter every quarter or so, Yes.Perhaps thats why My wife Married me.

gundog
05-08-2006, 04:46 PM
Mr. Bufffet bought the Power company I work for about 2 months ago. I am not sure what will hapen in the long term but so far nothing has changed. Mid America is the company that now owns us which is owned by Warren Buffet at least that is what I was told.
GD

IOWOLF
05-08-2006, 06:11 PM
Mid America is correct , it is here also.

Your Old Dog
05-08-2006, 09:40 PM
Sounds like a good fit to me. A machine company for a man who owns who knows how many newspapers all using humongous printing presses. The Buffal News just installed an enormours printing press built by the Germains. Now Buffet can do his own building. Kind of like one of us buying a Drill Doctor so we can sharpen our own drill bits !

JCHannum
05-08-2006, 10:26 PM
The good news is that an American company is buying a foreign company. Lately it has been too much the other way.

rollin45
05-08-2006, 10:38 PM
Apparently he bought the power company around here as well, it was Pacificorp. They've been spending some money here on repairs and upgrades to a couple of coal fired powerhouses, very badly needed I might add.

I did read where Mr.Buffet was buying overseas as he suspects the dollar is in for some bad times. Hard to say, but he has had some insight in the past.

rollin'