Warren Buffett to Run Schwarzenegger Race
8/13/2003 3:29:00 PM
LOS ANGELES, Aug 13, 2003-- Arnold Schwarzenegger has hired Warren Buffett as his senior financial and economic adviser, his campaign announced Wednesday.
Buffett is a billionaire investor legendary for his financial prowess. The chairman of Berkshire Hathaway 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.
"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," Buffett said in a statement.
Buying at low prices into well-known, solid companies, Buffett built Omaha, Neb.-based Berkshire into a huge conglomerate with a market value of more than $80 billion that owns insurance, restaurant, furniture and shoe companies. Buffett generally avoids high-tech companies, arguing he cannot tell which will be usurped by advances in technology. |
