Warren Buffett Joins Schwarzenegger's Team

Reuters ^ | Wed August 13, 2003 03:35 PM ET | Adam Tanner

[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.

[lilylangtree]

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.

[sinkspur]

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?

[EternalVigilance]

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.

[Shethink13]

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."

[Bonaparte]

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.

[sinkspur]

You like it when the party goes left.

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

[EternalVigilance]

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!

[sinkspur]

"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.

[sinkspur]

"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.

[sinkspur]

Is Steve Forbes a lefty?

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

[EternalVigilance]

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.

[EternalVigilance]

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.

[Lancey Howard]

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.

[daviddennis]

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

[Bush2000]

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

That's what he thinks...

[EternalVigilance]

Yep. Gotta love that PR ability. It's almost Clintonesque.

[sinkspur]

Fair enough?

Fair enought, and a brilliant analysis.

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

[daviddennis]

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

[deport]

Darn a double hitter..... so good the first time around it deserved an encore.....

[daviddennis]

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