Dow Jones: Schwarzenegger signs Buffet as his economic advisor.

[Julien Sorel]

Sorry, no link yet; I get these things in-house. Story should be out on the wires soon.

More star power for Arnie.

[Newsjock]

1. Link here

http://sfgate.com/cgi-bin/article.cgi?f=/news/archive/2003/08/13/financial1529EDT0203.DTL

LOS ANGELES (AP) --

Arnold Schwarzenegger has hired Warren Buffett as his senior financial and economic adviser in his bid to replace Gray Davis if the governor loses the recall vote, the Republican actor's campaign announced Wednesday.

Buffett, chairman of Berkshire Hathaway, is a billionaire investor legendary for his financial prowess. He is also a Democrat.

"What he will be doing is assembling other prominent business leaders and economists and setting up a team to address the issues facing California," said Schwarzenegger spokesman Sean Walsh.

Buffett said in a statement: "I have known Arnold for years and know he'll be a great governor. It is critical to the rest of the nation that California's economic crisis be solved, and I think Arnold will get that job done."

more

[Johnyawl]

6. A good example of how stupid we Dems have gotten

How come we can have a guy like this on OUR team, and not be utilizing his expertize?

[Democat]

23. Because we have no plan and no leadership?

Just a guess. :)

[piece sine]

2. Jimmy Buffet?!

Wasted away in Sacramento-ville?!

[arikara]

3. I thought they meant Jimmy Buffet

wastin' away in Margaritaville

[Rainbowreflect]

9. My first thought as well.

Some people say there's a woman to blame, but I know, it's my own damn fault.

[Maple]

4. And meantime George Soros

is trying to oust Bush.

Battle of the Billionaires here or what?

[PROGRESSIVE1]

5. As a FORMER FAN OF Mr. Buffett, I have much more respect for...

Mr. George Soros!!! I cannot believe that Warren B. of all people is going to assist the right wingers in their takeover of California. He is a liberal who bashed Bush all the way on his economic and tax policies. He's not fond of his social policies either!!! :wtf: is up with this. Why is he now supporting this ASS?? Unless this is all just a big mistake, some rumor that some idiot made up, I find myself, being as idealistic as I am, no longer a fan of the Mr. B!!! Mr. Soros and I would agree on many aspects of policy both foreign and domestic!!! Bless you Mr. Soros!!!

I should mention that Mr. Buffett grew up in a very, VERY conservative Republican house hold. His father was a rabid right wing congressmanw who was also a member of the John Birch Society (cousin of the Federalist Society)! He overtly hated our hero FDR!!!


:kick:

[slappypan]

8. I feel the same way

I can't understand why someone of Warren Buffet's stature would lend support to that whole circus and a buffoon like Schwarzenegger.

[Democat]

7. Buffet is a Democrat and has been critical of some of Bush's tax cuts

I'm not sure what to make of this move.

[OzarkDem]

37. Any Proof Buffet is a Dem?

I always thought he was an Independent. He's given to Dem campaigns, but I don't think he's a Dem. The story is probably being spun this way to garner bipartisan support.

[hedda_foil]

10. Please change your Clark banner to something less militarist!!

Every time I see it I positively shudder. If you are actually interested in getting him elected, I suggest something that looks a lot like the Martians are invading and he is getting ready to call out the troops on the American people.

PLEASE. It's really not inspiring ... particularly to women, but I suspect to many men as well.

[piece sine]

13. I know what to make of it....

BIG BOY Arnold wins unless we mobilize fast and furious! This is masterstroke that shows the power of money! What's Arnold's biggest disadvantage? NO PLANS, NO IDEAS! Buffet's official advisory capacity is both a big plan and a big idea.

Meanwhile, back at the ranch, Soros can only fund generic get-out-the-vote activities. Jokes about Jimmy Buffet aside, this does not bode well at all! If true, this is biggest shock since Arnold announced.

A messy mess just got messier.

[ignatius]

11. And remeber as another 9-11 oddity, Buffett and other CEOs

were in a bunker in Omaha on that day. I believe the very base that our esteemed monkey in chief flew to. I seem to recall Buffett yapping about a nuclear bomb most certainly hitting us as a means to push up defense stock.

Facist alert!!

[WhoCountsTheVotes]

25. yes! I remember that

A lot of CEOs weren't at the WTC, they were meeting with Buffet for a "charity event" at 6:00 am. wtf is going on? "fascist alert" may be right.

[shanti]

42. then he's no dem

he's one of the favored few....like willie brown. he was warned too.

hmmmmm.......

[hang a left]

38. And in the company of

George Soros as well that day. Sorry folks, I don't buy Soros as the good guy. He is one of "them" He was at an economic conference in Europe with Kissinger this past summer. He is an owner of one of the laboratories that has seen the recent murder of it's top microbiologists. I have read all of this just recently. If you want to call me on it, I will go look up sources.

[shanti]

43. oh lord

they are "disguising" themselves...

[shanti]

44. oh lord

they are "disguising" themselves...

[private_ryan]

46. he is rich, so he must be bad

confiscate all his money and spread it even to all our comrades who are too dumb, to unlucky, or too lazy to make Soros' billions.

[Character Assassin]

12. Uh-oh! Big cracks starting in the Schwarzenegger/Bush conspiracy theories

Warren Buffet is a self-described liberal, fought to preserve the estate tax and has contributed to Senator Clinton's campaign.

He also was/is a severe critic of Bush's budget, and took a lot of criticism from the right-wing media and financial community. He was quoted back in May:

"We are going to spend $2.2 trillion this year; it's just a question of where it comes from. And, frankly, I don't think enough of it comes from people like me and too much comes from people who work in our shoe factories."

He commented further that Bush "is not changing the amount the American public sends the government, just changing who does it," and unfairly to the benefit of rich people. "

Buffet has a long history of condemning stock options as corrosive incentive compensation for management and publically complained of inadequate corporate governance. He predicted the dangers of the bubble economy well before it happened, and has been the country's most prominent critic of unearned CEO compensation and the glaring conflicts of interest on Wall Street.

Not only that, he's the single most successful investor in the history of man.

The Rove/Arnold connection is starting to look a little more dubious.

[piece sine]

14. yeah but....

he's on the payroll of Arnold now. What does THAT tell you?! I hopethey use a condom because we're F****D!

[Character Assassin]

16. He is far, far wealthier than Arnold. By magnitudes.

As far as 'payment' from Schwarzenegger somehow tempting to change his tune, I don't see that happening.

[Julien Sorel]

17. Politics is personal.

Buffet is known to choose his friends and associates carefully, and be loyal to them. This would likely be a case of that. I like and admire Buffet a great deal; I will admit to being sorry he signed on with Arnold. I think it essentially ends any meaningful campaign, because Arnold can pull a Bush from here on out. Yes, he has no clue what he's doing, but the people around him do. Buffet, by the way, is highly unlikely to do actual advising; his inclusion is for PR, and it's powerful PR.

[shanti]

45. stop

you're scaring me :scared:

[diplomats]

19. I hope you're right

This is a great move on Arnold's part, no doubt. What a coup to bring someone of Buffett's stature on board.

[jab105]

34. I don't know what to think....

you know...well, I like Buffet, it might be better for CA, and that's a good thing...you know...

BUT, one thing is for sure, this can't possibly be part of the Bush adgenda...cause buffet was openly critical of bush's tax policy...remember, he's married to a Kennedy...

[Kolesar]

15. this is like pin-head Bush naming Colon Powell to get some credibility

I wonder is Buffet will have any real position of authority? Maybe he is just there to tutor Mr. Steroids.

[PROGRESSIVE1]

18. One Possibility as to why Warren is Backing Arnie.

Warren Buffett's company, Berkshire Hathaway is a holding company. This means that this company owns many other companies. I read on another thread about how Gray Davis is trying to fill appointments for all of the states Judgeships.
It is my understanding that the Governor also appoints the "Offshore Commitee" which oversees oil drilling off of the California coast. One of Mr. Buffett's holdings also include a company called MidAmerican Energy Holdings which has major HOLDINGS IN CALIFORNIA! Could there possibly be a conflict of interest or just plain old self serving opportunism which Mr. Soros does not believe in? Could Warren be supporting the Repugs to further his Energy Business????????
Why does he not see what Bush has done to our economy???

(1)see this link to see all of the subsidiaries
http://www.berkshirehathaway.com/subs/sublinks.html

(2)see this link to see the energy company("MidAmerican Energy Holdings")
http://www.midamerican.com/

If this is so then I say shame on you sir. You are a disgrace!!!

[Tempest]

28. You're on to something here

Arnold's secret meeting with Kenny Boy

When Arnold Schwarzenegger gets around to attacking Gov. Gray Davis for the state's energy fiasco, someone should ask why he appointed Pete Wilson his campaign chairman.

http://www.salon.com/opinion/conason/2003/08/11/enron/

[shanti]

48. omg, i read the joe conasen story

this is BIG.

[Character Assassin]

30. Perhaps if you'd actually bother to read about those holdings....

One of Mr. Buffett's holdings also include a company called MidAmerican Energy Holdings which has major HOLDINGS IN CALIFORNIA!

Oh my gosh!

The Kern River Gas Transmission Company pipes natural gas into Utah, Nevada and California. It zero to do with offshore oil platforms.

Cal Energy Company has 10 geothermal generating plant's in California's Imperial Valley, it mines for zinc there as well.

In short, they have no relation to offshore oil.

Could there possibly be a conflict of interest or just plain old self serving opportunism which Mr. Soros does not believe in?

Not from any informaton you've supplied.

Could Warren be supporting the Repugs to further his Energy Business????????

No.

Why does he not see what Bush has done to our economy???

Quite clearly he does, and he has often, publically and loudly condemned his budget and fiscal policies.

[PROGRESSIVE1]

32. To Character Assassin...

if you haven't noticed the disaster in the California energy market, YOU SHOULD!!! Many DUers have argued that the right wing wants a Republican in California to their bidding for them! Warren does still have many other Energy Ventures in California!!! With Arnie there, he could help Warren with some deregulation and government contracts!!!! You should remember that Mr. Buffett purchased many energy assets on the cheap last year after ENRON collapsed!!! Also, Arnie did have a meeting with Kenny Boy Lay in 2001!!! There is a possibility that something is up here. Think about it!!!

[Character Assassin]

33. Yes, I've noticed. I am a native Californian and live here as well.

Many DUers have argued that the right wing wants a Republican in California to their bidding for them!

Yes, they have.

Warren does still have many other Energy Ventures in California!!!

If you'd check out the webpages of every single on of those energy holdings his company own in CA, you'll notice not one of them is involved in anything to do with offshore drilling, platforms or lobbying to increase the current amount.

With Arnie there, he could help Warren with some deregulation and government contracts!!!!

Buffet wouldn't need Arnie, as governor or not, to assist him in that if that's what he were after. He is the world's second wealthiest man, after all.

You should remember that Mr. Buffett purchased many energy assets on the cheap last year after ENRON collapsed!!!

That's called taking advantage of a good business opportunity, and it happens every day in every industry.

Also, Arnie did have a meeting with Kenny Boy Lay in 2001!!! There is a possibility that something is up here. Think about it!!!

Sure, anything's possible.

But this, barring any solid evidence, is extremely dubious.

[PROGRESSIVE1]

35. All I'm going to say is to read...

Zan_Of_Texas's POST!!!!!!

[Zan_of_Texas]

20. Billionnaires are not necessarily your buddies, folks.

I don't care who they say they vote for.

Warren B., when the nation had its five minute spasm of fighting corporate corruption last summer, said, no, he couldn't possibly support expensing options (a crucial although annoyingly technical part of fighting corporate corruption). No, he said, lil ole me doesn't have any clout, and he wouldn't take a position on that.

Horsefeathers.

Warren B. also scooped up a shitload of pipelines in the aftermath of the energy debacle. He's been discount shopping, and he is still assembling quite an energy portfolio. Just bought another company that analyzes drilling data, I believe it was last week.

What's he gonna do with all that stuff?

And hmmm, which is still one of the largest states, that still needs to import a lot of its energy?

And hmmm, should we be paying more attention to Nebraska anyway? Senator Hegel of Nebraska, voted in on voting machines compliments of ES&S, partially owned by ..... Senator Hegel?!!!! ES&S is based right there in Nebraska.
Where did Bush finally land on 9-11? Omaha.
And, where were a bunch of corporate leaders having breakfast on 9-11? Omaha.

Maybe there's more than corn there? More than meets the eye?

[hunter]

39. Arnold just called you a girly boy, Mr. President...

Oh my. Oh my.

[shanti]

47. exactly!, it's class warfare

people get ready.

[JaneQPublic]

21. Buffet knows Wall St. and the corporate world like nobody's business, but

...does that mean he knows beans about state fiscal problems?

[Snellius]

22. Are they underestimating the Hulk like they did the Dolt?

Arnold may not be who he appears to be. If he didn't call himself "Republican" or if he called himself an independent, would that change things? Assuming he's not just using Buffet for appearance's sake, this may not be the kind of business friendly frontman that the Bush Republicans would like. Note that in both of his last 2 press conferences, Bush seems to see Arnold as more of a rival than a friend. Bush sounds almost jealous of the attention he's getting.

[WhoCountsTheVotes]

24. Warren Buffet, the supposed Democrat?

what the he-- is going on?

[PROGRESSIVE1]

26. Please see my first post Number 18!

.

[damnraddem]

27. Well, JImmy Buffet may know music, ...

but what does he know about economics? ;-)

[samsingh]

29. gotta admit

that's a good move

[Democat]

31. Very smart move

As someone already said, why didn't a Democrat ask Buffet to advise them?

[maryallen]

40. Maybe a Democrat DID ask Buffet to help Arnie:

Maria Shriver, with her Kennedy connections, very possibly could have influenced Buffet to get involved.

[Chomskyite]

36. This suggests Arnold is going to try to look like a moderate

. . . and it's a not-so-subtle attempt to look like he's going to separate himself from Bush's economic policies right at the start.

We'll see whether it's real or Hollywood or not.

[SharonAnn]

41. Sure, just like Bush, campaign from center but govern from right

Works every time.

Voters think they elected a "moderate" but what they get is a serious, hard-core right-winger.

[VolcanoJen]

49. Kick

:dem:

[NoKingGeorge]

50. Because it will work

Maybe just maybe its a good thing to ask a financial expert ,who cares about citizens and the quality of life, to help .

There are good people in the world who care.