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.
3 comments:
I don't understand the premise of your post. Isn't the Bush administration pushing American companies to do business in Iraq? We've got American oil companies, and industries across the spectrum involved in rebuilding Iraq. As for Buffett, John McCain was singing his praises the other day and said if elected that he would rely on Warren Buffett's advice.
Jim, there isn't anything wrong with doing business in Iraq. There isn't anything wrong with Uncle Buffet investing in GE. But I believe his premise at the time was that he was investing in a "National Treasure" and oh what a philanthropic thing for him to do with his billions. I'm not knocking him for his billions, I'm knocking him for not being honest about why he infused his billions into GE that he was protecting his personal interests. He knew when he pumped that 3 Billion into GE that they had been awarded a contract. I'm no even knocking him for protecting his personal interests, but come clean. Don't bullshit the American people. I think we have just about had more BS than we can take. Oh and let's not forget the scandal with GE and their cozy relationship with IRAN. Sometimes I think peoples minds are as short as their appendages! VN8
VN8, you are right on. The Dems go into a swoon over Buffet, but for him, it's just business. And that's OK. In fact, that's great. Good thing he isn't a Republican associated with Halliburton!
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