OK, imagine this, it's a Monday night, I'm putting new shelf paper in my kitchen cabinets and I'm listening to the news. I hear and General Electric and Iraq all in the same sentence. I start to thinking, wasn't it the RICH Warren Buffet who pumped $3 BILLION of his own money into GE to keep them afloat during the economic crisis! Well after a little research, here's what I found. Sounds like Mr. Buffet might have had a personal interest in keeping them afloat since GE has a big contract with the government of IRAQ. Oh and I might add that Warren Buffet is a "big" supporter of Senator Barack Hussein Obama. Sounds like a greedy Democrat to me folks! Oops, I meant to say sounds like a very philanthropic Democrat! LOL
"GE is the symbol of American business to the world," Buffett said. "They have strong global brands and businesses with which I am quite familiar. I am confident that GE will continue to be successful in the years to come." Warren Buffet
Yep, I'm sure they will Mr. Buffet. Hope you make a nice tidy profit! I sincerely do! VN8
10/06/08 -- Researched by Industrial Info Resources(Sugar Land, Texas) -- Iraq recently entered into several preliminaryagreements worth $7 billion to $8 billion with General Electric Company(NYSE:GE) (GE) (Fairfield, Connecticut), Siemens AG (Munich, Germany), andan undisclosed third company to procure equipment to double its powergeneration. The three agreements will enable war-torn Iraq to upgrade itspower grid and add about 10,000 megawatts of power generation capacity by2012. The country was also in talks with Hyundai Heavy Industries CompanyLimited (SEO:009540) (Ulsan, South Korea) for the supply of dieselgenerators.
Warren Buffett's Berkshire Hathaway Inc. is pumping $3 billion into General Electric (GE) as part of a $15 billion fundraising effort by the industrial conglomerate, anxious to calm nerves about the health of its financial services arm.