OMAHA, Nebraska - two icons of American Affairs - Warren Buffett and Jack Welch - said Monday the death of Osama bin Laden was a thrill, but not put an end to the threat of terrorism, and yet the economy continues to improve.
Two businessmen venerated appear together Monday on CNBC. Buffett interview had been scheduled to discuss the economy and the Assembly of the shareholders of Berkshire Hathaway last weekend, but international relations have become a subject important due to the news of bin Laden. Buffet and other Berkshire officials later has also had an interview on the Fox business network.
Buffett said that he felt good when he heard about the death of Osama bin Laden, but it is still concerned about terrorist attacks.
"The desire to harm exist in too many people around the world,"Buffett said. ".
But Buffett does not wait for the new Ben Laden to affect business much.
Buffett, "I do not think that it is a factor of market", said on the Fox business network. "The American people feel wonderful today - we all - but in terms of power of American companies, I do not think that the factor should change significantly because of this.".
Buffett said that the fact that the United States has not suffered another major terrorist attack since September 11, 2001, shows that the Government probably did many things right. Buffett, whose company owns several large insurers, said that he expected to receive another attack in 2001.
"It has always been a mistake to bet against the United States since 1776," Buffett said on CNBC.
Welch said seeing the video of the Americans United at Ground Zero, reciting the pledge of allegiance gives him chills. He said he hoped that the new will be reviving the American spirit.
"I hope that this is the beginning of kindling wood from burning the American spirit," said Welch.
Over the weekend, Buffett met approximately 40 000 shareholders Berkshire and spend hours answering their questions.
Buffett and Welch, both, has said Monday the economy improves, but rising gas and food prices could reduce economic growth by harmful consumption on other things.
Buffett said reports he gets 80 - odd business of Berkshire show that the economy is still improving slowly except for the US housing market-related businesses.
Welch, explains the increase in the price of gas sucked the economy of $ 100 billion in the first quarter.
"There is no doubt that the dollars were sucked out of the economy", said Welch.
Buffett said that an increase in the price of gas affects the economy as a tax increase, except that revenue is oil nations instead of the Federal Government.
"The economy is improving." "I think that you will see significant progress when U.S. housing picks up," said Buffett.
On Fox Business, co-founder of Microsoft Bill Gates, who sits on the Board of Directors of Berkshire, said he is optimistic for the future because new ideas in development.
"Innovation is moving," said Gates. "We will get many excellent tools to solve problems."
Welch and Buffett said that they were looking for before the end of the program of bond-buying by the Federal Reserve called "quantitative easing" this summer.
"Money in the hands of very smart people for too long is likely to create something unpleasant," said Welch.
Buffet and Berkshire officials have also requested once more on the actions of an Executive single Berkshire, who resigned last month after details have emerged on a dubious investment that he made.
Former Weather energy Chairman David Sokol has denied any wrongdoing, but Berkshire said Sokol violated ethical company and policies initiated by investing approximately 10 million dollars in stock Lubrizol while it assessed the chemical company as an acquisition. Berkshire said that Sokol also failed to disclose all the details of his investment as Berkshire finalized a $ 9 billion agreement to buy Lubrizol.
Buffett called the Sokol inexcusable behavior, but said he thinks not many changes necessary for Berkshire. His friend, Gates, supported this view.
"Berkshire has very good compliance rules," said Gates. "The fact is that no rule of compliance are stop someone to make a mistake."
Buffett and Berkshire Vice Chairman Charlie Munger, stated that the Sokol situation is a sad for him and Berkshire as Sokol did so many good things for the company over the years.
"I saw it instantly as a tragedy," said Munger.
Buffett told shareholders he wants with hindsight that the press release, published in March on the resignation of the Sokol was more severe, and he wants to, he asked more questions about the game of Lubrizol of Sokol when Sokol first mention in January.
Berkshire has approximately 80 subsidiaries, including clothing, furniture and jewelry business, but his insurance and utility companies typically represent more than half of the net income of the company. He also has major investments in companies such as Coca-Cola Co. and Wells Fargo & Co.
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