....and we'll find that lost shaker of salt if it kills us!
Posted on 05/10/2006 5:19:51 AM PDT by SJackson
Buffet: We're here for the long haul "If it gives Israel a shot in the arm, that's great," he tells Post.
While strategists continued to project good things for Israel Tuesday in the wake of Warren Buffett's $4 billion investment in Iscar Ltd., the man at the center of the euphoria was thrilled to have found a place in the country.
"We're going to be in Israel way beyond my lifetime," the chief executive officer of Berkshire Hathaway Inc. told The Jerusalem Post in a telephone interview late Monday night from the company's Omaha, Nebraska headquarters.
"There was enormous enthusiasm at our board meeting today," he said.
Always on the lookout for good companies, the Iscar purchase was Buffett's first outside the US but the company was typical of the "old economy" companies the man known as the "Oracle of Omaha" favors.
By now, most everyone following the deal that has brought renewed pride to the Israeli business community and country at large, knows that Buffett was approached with a simple letter by Iscar's chairman, Eitan Wertheimer.
"It's amazing but both his character and feelings about his business and why it's special came through to me. I get a lot of letters and not many have an impact on me but this one.... We hit it off," Buffett said. "They're remarkable people and a remarkable business."
Although he has no immediate plans to do so, Buffett said he may take the investment, which now stands at 80 percent, further at some point.
"When we get hooked up with this sort of company and this sort of people, who knows what the potential is?" he said.
He said he's also open to the possibility of further investments in other other Israeli enterprises.
Merrill Lynch, meanwhile, added its praise to the deal telling clients the move was "hugely positive" for Israeli assets as it should boost both domestic and international investor confidence in the country.
The expected $1 billion in tax revenue, which amounts to 0.8% of gross domestic product, that the deal was expected to generate was also extremely important, according to the firm.
"On the back of this deal and the government's commitment to fiscal discipline, we now think that Israel may end the year with a balance budget. This would be a significant achievement," Merrill strategist Mehmet Simsek wrote in a research report.
As for Buffett, "If this gives [the country] an extra shot in the arm, that's just great," he said.
Warren Buffet Buys Second Israeli Company in a Week
13:05 May 10, '06 / 12 Iyar 5766
by Israel National News Staff
Warren Buffet, the world second wealthiest man, has bought a second Israeli company in less than a week.
CTP, a subsidiary of Buffet's Berkshire Hathaway, purchased 60 percent of Israel's Agro-Logic agricultural manufacturing company, according to Globes. The company produces climate control systems, as well as weighing systems for feed and poultry.
Agrologic, started by Israelis Jan Lichten and Yochanan Hershtik in 1998, has 20 employees and is based in Netanya.
Last week, Buffet invested $4 billion in Iscar, a metalworks company based in Israel.
CTB president and CEO Victor A. Mancinelli told Globes, “Agrologic is recognized for its innovative and cost-efficient designs…We are also impressed with how Agrologic has used cellular technology in some of their systems.”
Agro-Logic CEO Lichten said that the development will "make available all [CTB's] global marketing network and broad economic backing, that will enable us to grow. It’s the biggest company in the world in its field.”
Articles on Israel can also be found by clicking on the Topic or Keyword Israel.
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....and we'll find that lost shaker of salt if it kills us!
So then Johnny Depp was doing a spot on impersonation. No wonder Hawkins and Morgan raped and pillaged. People would have started talking otherwise.
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