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Warren Buffett Joins Schwarzenegger's Team
Reuters ^ | Wed August 13, 2003 03:35 PM ET | Adam Tanner

Posted on 08/13/2003 6:33:16 PM PDT by ckilmer

Warren Buffett Joins Schwarzenegger's Team Wed August 13, 2003 03:35 PM ET

By Adam Tanner SAN FRANCISCO (Reuters) - Arnold Schwarzenegger added financial heavyweight Warren Buffett to his team on Wednesday as California officials set about finalizing the longest-ever list of candidates in the state's recall election.

"I have known Arnold for years and know he'll be a great governor," Buffett, one of America's best-known and most respected investors, said in a statement. "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."

Democrat Gray Davis, unpopular because of the state's record budget deficit, faces the first recall vote against a California governor in the state's history on Oct. 7. Should voters recall him, the alternative candidate with the most votes will take over the richest U.S. state.

After a blast of publicity following his surprise announcement a week ago Wednesday, actor Schwarzenegger has in recent days concentrated on putting together his team, many of whom are veterans of former Republican Gov. Pete Wilson's administration.

In a move that could add gravitas to the campaign, Berkshire Hathaway chairman Buffett will help Schwarzenegger assemble top experts to advise him on the economy, the campaign said.

Schwarzenegger "has been meeting with advisers, talking with individuals who will be joining his campaign and laying out goals and priorities for his proposals he will be laying out as the campaign moves forward," spokesman Sean Walsh said.

Earlier on Wednesday, a report in the Los Angeles Times said Schwarzenegger had "shaken up" his campaign team, but Walsh denied that characterization.

"We are simply adding people to this campaign to make sure this campaign can operate as fully and as effectively as possible. There is no staff shake up, there is just the addition of people to make sure this campaign is world class."

Responding to criticism that the star of the "Terminator" films has avoided taking positions on tough issues, Walsh said Schwarzenegger would detail his proposals in the coming weeks.

CALLS TO CLINTON

Meanwhile, the final list of candidates was due later on Wednesday, but state election officials said they had already rejected several dozen applications as incomplete.

Among the 171 pending or certified candidates were Hustler publisher Larry Flynt and diminutive television actor Gary Coleman. Porn actress Mary Carey (real name Mary Cook) also made the ballot, pledging to wire every room of the governor's mansion with live Web cams if she wins.

More conventional candidates include Republican Bill Simon, who ran against Davis last November and lost, and California's No. 2 state executive, Lt. Gov Cruz Bustamante, a Democrat.

Gov. Davis has adopted a "rose garden" strategy of trying to stay above the political fray and show voters he was doing his job rather than campaigning.

"The governor is focused on governing," a top aide said. "He is not running against Arnold Schwarzenegger."

The aide said Davis has often sought advice in recent days from Bill Clinton, one of only two U.S. presidents impeached by the House of Representatives. Clinton was later acquitted by the Senate over the Monica Lewinsky sex scandal.

The Davis aide said the former president advised his fellow Democrat to stay above the fray, focus on the recall process rather than make it a personality contest and avoid sparring with Schwarzenegger.

An aide to Clinton at his New York office said he had previously scheduled a visit to California in September, although no rallies with Davis have yet been announced.


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections; US: Arkansas; US: California
KEYWORDS: 1eternalvignotincali; biomass; buffett; calgov2002; converter; duplicate; schwarzenegger; schwazenegger; searchbuffetjoins; usethesearchfunction; warrenbuffett
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there's an article on a new biomass converter that going through trials in arkansas that can convert garbage, human, industrial and agricultural wastes into oil for 8-15 dollars a barrel. Anyone who can turn these government agricultural and industrial cost centers into profit centers plus clean up the environment is going to be a conquering hero. ////////////////////// The company raised another $50 million from investors including Howard Buffet, the son of Warren Buffet, and James Woolsey, former director of the Central Intelligence Agency.

http://www.planetark.org/dailynewsstory.cfm/newsid/21583/story.htm http://stacks.msnbc.com/news/940151.asp?0sl=-42 Garbage to oil? Company tests idea MSNBC - Jul 18, 2003 ... $50 million from investors including Howard Buffet, the son of Warren Buffet ... Changing World Technologies said the advantages of making oil from garbage is ...

Company Seeks Fortune Turning Garbage into Oil Planet Ark, NY - Jul 21, 2003 ... The government and private industry are betting that the garbage-into-oil ... The company raised another $50 million from investors including Howard Buffet ...

1 posted on 08/13/2003 6:33:16 PM PDT by ckilmer
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To: ckilmer
http://www.freerepublic.com/focus/f-campaign2002/962280/posts
2 posted on 08/13/2003 6:38:14 PM PDT by Commander8 (Am I therefore become your enemy, because I tell you the truth? Galatians 4:16)
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To: ckilmer
You can bet that Buffett has his own agenda.
3 posted on 08/13/2003 7:05:43 PM PDT by hgro
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To: hgro
This is the SAME Buffett who said the Bush tax cuts are bad....so, will he advise Arnold to cut taxes?
4 posted on 08/13/2003 7:06:57 PM PDT by Moby Grape
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To: Impeach the Boy
no he'll advise him to turn biomass into oil for ten dollars a barrel, cut insurance premiums on small businesses and cut government saleries.

meanwhile monetary and fiscal policies will grow the economy and the tech sector will come out of hibernation to refuel the california economy and refill government coffers.

the deficit will be gone in 3 years max but likely much less.
5 posted on 08/13/2003 7:12:39 PM PDT by ckilmer
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To: ckilmer
Are you on DRUGS?...Buffet supported Hillary Clinton. He says tax cuts are bad (a STUPID thing to assert)....Buffet is probable evidence that Arnold will be little more than democrat-lite....I will SAVE your post, and feed it back to you in crow pie.
6 posted on 08/13/2003 7:15:22 PM PDT by Moby Grape
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To: ckilmer
You are such an optimist.
7 posted on 08/13/2003 7:15:58 PM PDT by EternalVigilance
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To: ckilmer
Considering the wag-the-dog advise Bubba is going to give Davis, if I lived in any state bordering California, I would be worried about cruise missiles.
8 posted on 08/13/2003 7:15:58 PM PDT by Ronin (Qui tacet consentit!)
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To: ckilmer
" Warren Buffett Joins Schwarzenegger's Team "

Huh? Isn't Warren Buffet a Socialist?

9 posted on 08/13/2003 7:19:09 PM PDT by NH Liberty
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To: NH Liberty
Flaming.
10 posted on 08/13/2003 7:20:54 PM PDT by EternalVigilance
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To: EternalVigilance
Steve Forbes and Arthur Laffer also joined the Schwarzenegger team today.

Are they leftists?

11 posted on 08/13/2003 7:25:23 PM PDT by sinkspur (Get a dog! He'll change your life!)
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To: sinkspur
No, just dumb.
12 posted on 08/13/2003 7:27:14 PM PDT by EternalVigilance
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To: EternalVigilance
No, just dumb.

You're funny, EV. And increasingly irrelevant to this entire discussion.

13 posted on 08/13/2003 7:31:47 PM PDT by sinkspur (Get a dog! He'll change your life!)
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To: hgro
And Buffet's agenda is a liberal one. That's where the lion's share of his contributions goes. Not three months ago, he was Koppel's sole guest, arguing against Bush's tax cuts. The liberal media fawns over him constantly.
14 posted on 08/13/2003 7:33:58 PM PDT by Bonaparte
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To: sinkspur
"...also joined the Schwarzenegger team today."

In what capacities?

15 posted on 08/13/2003 7:41:20 PM PDT by Bonaparte
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To: Bonaparte
In what capacities?

I dunno. Heard it on the radio.

Maybe Arnold's just looking for guys who will work for free.

16 posted on 08/13/2003 7:43:14 PM PDT by sinkspur (Get a dog! He'll change your life!)
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To: Bonaparte
"Not three months ago, he was Koppel's sole guest, arguing against Bush's tax cuts."

Buffet has a pile of dollars. He wants the value of those dollars to go up. Cutting taxes has made the dollar go down. Clinton/Rubin raising taxes made the dollar go up. This is the way it always is. Look at the advice the IMF gives to Argentina or Russia when their currency is declining. Raise taxes. Each and every time.

Lowering the value of the dollar as Bush did was exactly the right policy. A sky high dollar was killing American manufacturing, mining, and agriculture. It was the only way. There is a time and place for every style of fiscal policy. In this time and place, Bush was 100% correct and Buffett 100% wrong.

Nonetheless I bet he will give Arnold good advice. The Governator of Cali has nothing to do with the level of the dollar. Buffett will tell Arnold to do what he has done to every business he has managed or advised. When you are in financial trouble, cut expenses as a first step.

17 posted on 08/13/2003 7:44:33 PM PDT by ImpeachandRemove (impeach and remove dennis the menace:))
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To: sinkspur
You're funny, EV. And increasingly irrelevant to this entire discussion.

Yeah?

I think the facts I have brought to the debate are very relevent.

Schwarzenegger is surrounding himself with liberals and hacks...confirming everything I've warned about for the last week.

18 posted on 08/13/2003 7:44:47 PM PDT by EternalVigilance
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To: EternalVigilance
Schwarzenegger is surrounding himself with liberals and hacks...confirming everything I've warned about for the last week.

Forbes is a hack? Arthur Laffer, father of Reagan's supply-side tax cut, is a hack?

Your warnings have me literally quaking, EV.

You're a very funny man.

19 posted on 08/13/2003 7:47:42 PM PDT by sinkspur (Get a dog! He'll change your life!)
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To: sinkspur
Steve Forbes and Arthur Laffer also joined the Schwarzenegger team today.

I shouldn't have to remind you that Art Laffer, in spite of his credentials as one of the original supply-siders, campaigned for Slick in 1992.

20 posted on 08/13/2003 7:50:18 PM PDT by logician2u
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To: ckilmer
Buffet is an avowed RAT. He and Schriver (Kennedy) are making sure that RINO-RAT Termite the Terminator stays the RAT agenda and keeps CA in RAT hands.
21 posted on 08/13/2003 7:51:41 PM PDT by lilylangtree
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To: logician2u
I shouldn't have to remind you that Art Laffer, in spite of his credentials as one of the original supply-siders, campaigned for Slick in 1992.

Yeah. And Reagan supported the Brady Bill in 1994. So?

22 posted on 08/13/2003 7:52:45 PM PDT by sinkspur (Get a dog! He'll change your life!)
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To: sinkspur
My 'warnings' are not designed to make anyone 'quake'. They are intended to make people think.

Actions have consequences. Beliefs, or lack of beliefs, bear fruit somewhere down the road.

But I understand you don't care about those things.

You like it when the party goes left.
23 posted on 08/13/2003 7:54:00 PM PDT by EternalVigilance
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To: sinkspur
I picked up the following quote from this thread by one of Arnold's advisors. What do you make of it in light of Warren Buffett and his aversion to cutting taxes?

"Arnold likes paying taxes," said his chief financial adviser, Paul Wachter. "He always says if I'm paying a lot of taxes, I must be making a lot of money."

24 posted on 08/13/2003 7:55:23 PM PDT by Shethink13
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To: sinkspur
Thanks, sink. It's hard to get this info. Both of AS's websites have nothing but "volunteer," "contribute," and a few news articles. No positions on issues, no plan, no list of endorsements, and certainly no listing of who is on his campaign staff/committee.
25 posted on 08/13/2003 7:55:58 PM PDT by Bonaparte
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To: EternalVigilance
You like it when the party goes left.

Nah. I like it when the GOP wins, and it has the chance to CHANGE THINGS.

26 posted on 08/13/2003 7:57:04 PM PDT by sinkspur (Get a dog! He'll change your life!)
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To: sinkspur
Nah. I like it when the GOP wins, and it has the chance to CHANGE THINGS.

Again, you describe putting even more leftists into power as a win. I don't. I consider it a loss to our republic.

Clinton changed things. Yippee!

27 posted on 08/13/2003 8:00:20 PM PDT by EternalVigilance
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To: Shethink13
"Arnold likes paying taxes," said his chief financial adviser, Paul Wachter. "He always says if I'm paying a lot of taxes, I must be making a lot of money."

Rich people are always going to pay lots of taxes. Even in a flat tax environment, rich people would pay and pay and pay.

28 posted on 08/13/2003 8:00:24 PM PDT by sinkspur (Get a dog! He'll change your life!)
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To: Shethink13
"Arnold likes paying taxes," said his chief financial adviser, Paul Wachter. "He always says if I'm paying a lot of taxes, I must be making a lot of money."

Rich people are always going to pay lots of taxes. Even in a flat tax environment, rich people would pay and pay and pay.

29 posted on 08/13/2003 8:01:05 PM PDT by sinkspur (Get a dog! He'll change your life!)
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To: EternalVigilance
Is Steve Forbes a lefty?

Who are McClintock's advisers? Would anybody know? Would anybody care?

30 posted on 08/13/2003 8:02:21 PM PDT by sinkspur (Get a dog! He'll change your life!)
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To: sinkspur
Obviously McClintock doesn't need people to tell him what to think. He's been in the arena fighting to implement actual conservative economic solutions.

The difference between him and AS on substance is as wide as the Grand Canyon.
31 posted on 08/13/2003 8:04:29 PM PDT by EternalVigilance
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To: sinkspur
By the way, just so you know--I consider Forbes to be nothing more than an opportunist and a phony.

This further confirms it.

I watched his pro-life position morph between 1995 and 2000, up close and personal. He decided he needed to be a strong pro-lifer to win the Iowa Caucus', and changed and crafted his message and persona accordingly. By the time he was done, you'd have thought he was Jerry Falwell.

Thank God he didn't succeed.

Supporting Schwarzenegger is just more proof that it wasn't real.
32 posted on 08/13/2003 8:13:34 PM PDT by EternalVigilance
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To: Impeach the Boy
This is the SAME Buffett who said the Bush tax cuts are bad....

Yeah, Buffett is a "tax the successful producers" kind of guy. Worked hard all your life? Taken risks, paid your dues, and finally made it big? Congratulations, pay even more in taxes.
I do not trust Buffett at all.

33 posted on 08/13/2003 8:22:36 PM PDT by Lancey Howard
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To: EternalVigilance; sinkspur; RonDog; Dog Gone; HowToRunForPublicOfficeAndWin
Calm down, guys.

I'm not part of Arnold's campaign, but I've already learned the First Law of Arnold.

Release information when it will have the most impact.

He will have a press conference in 1-2 weeks.

Every news reporter, TV camera and space alien will be there. We will probably discover a few new planets since their news organizations are seen at the press conference for the first time.

"No new taxes," he will say. "And we're going to roll back that awful car tax increase."

"Mr Schwarzenegger," says a reporter, "How are you going to pull off the spending cuts needed for this?"

"Call me Arnold. I'm still checking my options, so I'll let you know in next week's press conference."

"Arnold won't increase taxes!" will blare on the front page of every news organ and TV show existing in this universe, all parallel universes and even a few stray solar systems.

In the mean time, the story about new planets will be relegated to Page G-22 of the Science section.

What's on G-1? "Arnold's Car: How Arnold helped develop the Civilian Hummer", together with pictures of all five of his Hummers and interviews with his full time driver and mechanic. Arnold: "GM Haz been good for me, but I've helped save GM. Ha ha!"

(You may laugh at this pathetic excuse for journalistic judgment -- except for one thing. Which story would be more widely read?)

Next week, once again, every news organization in the known universe, and yet more in universes et to be discovered, will be there. The newly discovered universes will land on page 21 of the science section(*). A few senient amoebae will have accelerated their evolution just to be there.

"Guys," he will say, "It's like this. Californians are sick and tired of too high taxes and of government that doesn't serve the people. So it's time for government to tighten their belts, just like private industry has had to. We're going to roll back spending to the levels of three years ago, adjusted for inflation and population growth. That will eliminate our deficit and stabilize the situation."

"Arnold," says the reporter, "What are you going to do about illegal aliens?"

"That's a tough one. Join us next week."

Do you understand what this does?

It creates suspense.

It makes people hungry for more.

We probably won't know his complete plan until a week or two before the election.

But remember, we don't need to decide to vote for him until election day. I tentatively support him because I believe he'll do the right thing, and I believe he will be most effective in making sure the right thing is done. I'll know if I'm right by election day. Then I'll vote accordingly.

Fair enough?

D

34 posted on 08/13/2003 9:09:24 PM PDT by daviddennis
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To: ckilmer
"The governor is focused on governing," a top aide said. "He is not running against Arnold Schwarzenegger."

That's what he thinks...
35 posted on 08/13/2003 9:10:46 PM PDT by Bush2000
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To: daviddennis
Yep. Gotta love that PR ability. It's almost Clintonesque.
36 posted on 08/13/2003 9:13:24 PM PDT by EternalVigilance
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To: daviddennis
Fair enough?

Fair enought, and a brilliant analysis.

Arnold can suck the air out of every other campaign with a drip-drip strategy.

37 posted on 08/13/2003 9:14:25 PM PDT by sinkspur (Get a dog! He'll change your life!)
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To: EternalVigilance; sinkspur; RonDog; Bob J; kellynla; Dog Gone; Ernest_at_the_Beach; Bonaparte
Calm down, guys.

I'm not part of Arnold's campaign, but I've already learned the First Law of Arnold.

Release information when it will have the most impact.

He will have a press conference in 1-2 weeks.

Every news reporter, TV camera and space alien will be there. We will probably discover a few new planets since their news organizations are seen at the press conference for the first time.

"No new taxes," he will say. "And we're going to roll back that awful car tax increase."

"Mr Schwarzenegger," says a reporter, "How are you going to pull off the spending cuts needed for this?"

"Call me Arnold. I'm still checking my options, so I'll let you know in next week's press conference."

"Arnold won't increase taxes!" will blare on the front page of every news organ and TV show existing in this universe, all parallel universes and even a few stray solar systems.

In the mean time, the story about new planets will be relegated to Page G-22 of the Science section.

What's on G-1? "Arnold's Car: How Arnold helped develop the Civilian Hummer", together with pictures of all five of his Hummers and interviews with his full time driver and mechanic. Arnold: "GM Haz been good for me, but I've helped save GM. Ha ha!"

(You may laugh at this pathetic excuse for journalistic judgment -- except for one thing. Which story would be more widely read?)

Next week, once again, every news organization in the known universe, and yet more in universes et to be discovered, will be there. A few senient amoebae will have accelerated their evolution just to be there.

"Guys," he will say, "It's like this. Californians are sick and tired of too high taxes and of government that doesn't serve the people. So it's time for government to tighten their belts, just like private industry has had to. We're going to roll back spending to the levels of three years ago, adjusted for inflation and population growth. That will eliminate our deficit and stabilize the situation."

"Arnold," says the reporter, "What are you going to do about illegal aliens?"

"That's a tough one. Join us next week."

Do you understand what this does?

It creates suspense.

It makes people hungry for more.

We probably won't know his complete plan until a week or two before the election.

But remember, we don't need to decide to vote for him until election day. I tentatively support him because I believe he'll do the right thing, and I believe he will be most effective in making sure the right thing is done. I'll know if I'm right by election day. Then I'll vote accordingly.

Fair enough?

D

38 posted on 08/13/2003 9:15:14 PM PDT by daviddennis
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To: daviddennis
Darn a double hitter..... so good the first time around it deserved an encore.....
39 posted on 08/13/2003 9:18:47 PM PDT by deport
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To: EternalVigilance; sinkspur; RonDog; Bob J; kellynla; Dog Gone; Ernest_at_the_Beach; Bonaparte
My apologies; it looks like I wrote too many drafts and got the FR software confused. The last version saved is, of course, the right one :-(.

D
40 posted on 08/13/2003 9:24:17 PM PDT by daviddennis
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To: daviddennis
Oh, it happens to everyone now and again.

Have a good evening.
41 posted on 08/13/2003 9:28:03 PM PDT by EternalVigilance
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To: daviddennis
A very well written and most enjoyable script. Would that it be true. Things will move much faster than in a weekly cycle in this election. Still, if Arnold sounds intelligent and composed, and admits that on some things he just doesn't know yet, but when he is ready to intelligently opine, he will, and stay tuned, or say that after reflection, it depends on this or that, and we will have to just watch and wait, I suspect, that will favor with voters. What they are looking for is candor here, and maybe Arnold's advisors are smart enough to make candor job one.
42 posted on 08/13/2003 9:30:04 PM PDT by Torie
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To: sinkspur
My nose says Buffett is on board to figure out the energy contracts.
43 posted on 08/13/2003 9:30:49 PM PDT by habs4ever
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To: habs4ever
Lawyers are needed for that. After getting some help around here, and doing a Westlaw search, it does appear assuming the facts are right, that the contracts may be voidable per a statute in the state law. I found the dealing with the remedy for financial conflict of interests that had the word "avoidable," which I think is Valleytalk for "voidable."
44 posted on 08/13/2003 9:33:55 PM PDT by Torie
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To: EternalVigilance
Has The Good Doctor paid off his campaign debts yet,EV?

You really shouldn't be casting asperions about Steve Forbes, besmirching his character,considering your association and compensation, from a professional gadfly and grifter.

You have run around FR the past two days publicy whining about having your name abused, yet what did you just do to Steve Forbes, for no reason whatsoever? You are such a small man,EV, but you living proof why Keyes picked you for his team.Birds of a feather.
45 posted on 08/13/2003 9:34:59 PM PDT by habs4ever
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To: Torie
No.

Buffett also is the largest owner of private electric utilities in the West.
46 posted on 08/13/2003 9:37:09 PM PDT by habs4ever
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To: habs4ever
What does "no" mean here?
47 posted on 08/13/2003 9:39:22 PM PDT by Torie
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To: Torie
You assumed this was a legal matter, on the mention of contracts.Buffett brings an understanding of the actual business and trading of energy contracts and the delivery of energy.The people of your state have not been well served by those charged with such tasks.
48 posted on 08/13/2003 9:42:05 PM PDT by habs4ever
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To: habs4ever
Clearly, but the issue now is getting out of these contracts. Maybe Buffet is there to opine that Davis was a nutter for signing them, but I doubt it. I think Buffet is there for his name (which I admit is significant), and will say nothing. But we shall see.
49 posted on 08/13/2003 9:44:42 PM PDT by Torie
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To: Torie
I disagree, which I why I posted what I did.
50 posted on 08/13/2003 9:48:14 PM PDT by habs4ever
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