• 01 Oct 2008 at 2:15 PM

Investing In The Buff: Warren Endorses GE

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warren_buffett-1.jpgGeneral Electric announced some abysmal results last week but it’s okay because once again, Warren Buffett to the rescue! GE is selling $3 billion of perpetual preferred stock* to Buff’s Berkshire Hathaway, in a transaction that is “almost identical to the Goldman deal,” and was proposed to the Oracle of O by his main man at GS, Byron Trott. Buffett put his thick stamp of approval on the company in a press release today, saying, “GE is the symbol of American business to the world,” and went so far as to add, “I have been a friend and admirer of GE and its leaders for decades.” As we all know, O Cubed drives a hard bargain and is also a lovah of the ladies. So, let us determine conclusively, here and now– did GE offer unfettered access to Hayden Panettiere, and did WB hold out until a guaranteed menage was agreed upon starring the cast of 30 Rock? Cause that’s what we’re hearing.
Buffett also told gal-pal Becky Quick, in a phone interview (from an airplane), “The cheaper things get, the more I like them.” Make of that what you will.
*And plans to sell at least $12 billion of stock to the public.

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Comments (29)

  1. 1
    Posted by guest | October 1, 2008 at 2:16 PM

    becky quick: still sultry
    erin burnett: looking older today, no? where’s the doe-eyed intern look…?
    and 1st!

  2. 2
    Posted by guest | October 1, 2008 at 2:17 PM

    Warren has the simplest business model in the world and has more money to show for it. Simple is good.

  3. 3
    Posted by cheesedog | October 1, 2008 at 2:20 PM

    Interesting….GE CDS is widening out again

  4. 4
    Posted by MarshallStack | October 1, 2008 at 2:23 PM

    Really?
    I saw offers pulled.
    Warren has prison sex with any company that wants his seal of approval.
    Wow. That’s a sweet spot.

  5. 5
    Posted by Investorcluzo | October 1, 2008 at 2:23 PM

    if ge has to go all the way to omaha to get credit, we’re all fk’d! batten down the hatches, go long on spam futures – his is going to get ugly.

  6. 6
    Posted by guest | October 1, 2008 at 2:24 PM

    He must have repeated to Quickie three times that you need to be buying with cash. Not credit. Why did she have so much trouble understanding this simple concept?

  7. 7
    Posted by guest | October 1, 2008 at 2:26 PM

    I’m seeing the scene from “The Godfather” where they all line up to see him. Buffet in this case being the Godfather. Wonder who is next.

  8. 8
    Posted by MarshallStack | October 1, 2008 at 2:28 PM

    5yr GE is 530-550

  9. 9
    Posted by guest | October 1, 2008 at 2:28 PM

    Crap. This screws up the September Madness bracket… GE needs to be added to the list.
    Still have BRK crushing Citi in the next round..

  10. 10
    Posted by guest | October 1, 2008 at 2:29 PM

    Now where are guys like Gates and Jobs and that Oracle CEO?

  11. 11
    Posted by guest | October 1, 2008 at 2:35 PM

    Mr. Lovah Lovah….O Cube is value/vulture investor if I ever saw one…
    Homey is gonna be worth 100+ billion when things turn around and he has his hands up the skirts of GE/GS…
    Bravo Mr. Buffet. Bravo.

  12. 12
    Posted by guest | October 1, 2008 at 2:37 PM

    great tag

  13. 13
    Posted by guest | October 1, 2008 at 2:38 PM

    MUST SEE:
    http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MESELX:IT&item=320306090254

  14. 14
    Posted by Master of None | October 1, 2008 at 2:38 PM

    I propose more use of the word “thick” in conjunction with WB.
    Also “hard” and “gentle but assertive”.

  15. 15
    Posted by MarshallStack | October 1, 2008 at 2:42 PM

    @13 wasn’t that offered at 1300 last week?

  16. 16
    Posted by guest | October 1, 2008 at 2:43 PM

    What is an Omaha?

  17. 17
    Posted by guest | October 1, 2008 at 2:45 PM

    @12…agreed. Bess, you never cease to please.

  18. 18
    Posted by guest | October 1, 2008 at 2:49 PM

    It always amazes me that at his age he’s still a patient investor.

  19. 19
    Posted by guest | October 1, 2008 at 2:54 PM

    It should be Warren “The Master of the Universe” Buffet, instead of Hank Paulson. He sure seems to be vying for that spot, anyway.

  20. 20
    Posted by guest | October 1, 2008 at 2:56 PM

    Is warren a friend of george?

  21. 21
    Posted by guest | October 1, 2008 at 2:58 PM

    is GE on the no short list?

  22. 22
    Posted by guest | October 1, 2008 at 2:59 PM

    @ 21 – yes.

  23. 23
    Posted by guest | October 1, 2008 at 3:50 PM

    I thought Byron was retiring from GS? The guy is a banking machine.
    Anyways, could Buffet’s recent (and massive) penchant for philanthropy be clouding his judgement…Probably not.

  24. 24
    Posted by guest | October 1, 2008 at 4:04 PM

    Hey, you you hear about this new book on Buffett? “Snowball” something.
    I hear that when Charlie Munger wanted to read this book he tried to borrow it from the library. However, it was out on loan to Warren Buffett at the time.

  25. 25
    Posted by guest | October 1, 2008 at 4:19 PM

    Buffett had sex with Becky at Sheraton Omaha with assist to the Viagra.
    A friend of a friend of Becky told me.

  26. 26
    Posted by guest | October 1, 2008 at 4:37 PM

    @25 – not true. By Buffett’s own admission, he enjoys muching on mixed nuts.

  27. 27
    Posted by guest | October 1, 2008 at 4:41 PM

    @26 – yes, true.
    After he was done, I heard he plonked down a $100 bill on the dresser and mumbled something like “treat yourself to some mixed nuts and Cherry Coke”. Then he left.

  28. 28
    Posted by guest | October 1, 2008 at 5:15 PM

    What’s the over/under on Mr. Cherry Nuts not living to seeing a rebound and pac rims storming the beaches of San Diego?
    It will be the opposite of Inchon… peoples republic secures mcmansions via TJ…

  29. 29
    Posted by diablo | October 1, 2008 at 5:34 PM

    All I want to know is whether after this deal Welch will stop chasing Immelt with a gun.
    http://www.msnbc.msn.com/id/24163368/

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