Saturday, July 9, 2011

Buffett predicts job growth when housing rebounds -


By Josh Funk, Associated Press

OMAHA, Neb. — Billionaire investor Warren Buffett said Friday the nation's employment picture will improve significantly once residential housing construction rebounds.


Buffett spoke to Bloomberg Television on Friday morning as the Labor Department released a weaker-than-expected monthly jobs report. He said the report shows the economy is still a long way off from where it should be, but Buffett remains optimistic about the recovery and sees no danger of a second recession.

"I would bet very heavily against that," Buffett said. "How fast the recovery will come I don't know, but I see nothing that indicates any kind of a double dip."

Most of Buffett's comments were focused on the long-term outlook. Buffett said he expects unemployment to fall to about 6% within a few years, and the 2.5 million jobs lost in the recession will be replaced. The June unemployment rate rose to 9.2%.

The chairman and CEO of the conglomerate Berkshire Hathaway said he thinks people will be surprised how quickly employment improves once the excess houses are bought and normal levels of construction resume.

"We will come back big-time on employment when residential construction comes back," Buffett said.

For a time, Buffett said the housing industry was building about 2 million homes a year while roughly 1 million households were being formed, and the nation is still working off that excess created during the housing bubble.

Buffett said an increase in housing construction will prompt a variety of businesses to hire more workers, including such Berkshire units as Shaw Carpet, Acme Brick and the Burlington Northern Santa Fe railroad.

Buffett was in Sun Valley, Idaho, attending the annual conference hosted by investment bank Allen & Co. that attracts Wall Street and media moguls.

Buffett's Omaha-based Berkshire owns roughly 80 subsidiaries, including railroad, clothing, furniture and jewelry firms, but its insurance and utility businesses typically account for more than half of the company's net income. It also has major investments in such companies as Coca-Cola and Wells Fargo.



I only need to raise $7500..... every little dime helps.


Gear up for the ride... I will never forget! This once-in-a-lifetime experience allows ME  to explore all aspects of the racetrack- from a pit and garage tour at Charlotte Motor Speedway to riding 3 laps in a real NASCAR race car! Get in the passenger seat with Dale Earnhardt, Jr. in this exclusive Ride-Along and VIP experience package. This package includes:

  • Three heart-racing laps around Charlotte Motor Speedway driven by Most Popular and Championship Driver Dale Earnhardt, Jr. on Monday, October 17, 2011 YAHOO BOOGIE BOOGIE LETS GO RACING LORI
  • A three-night stay at the Hampton Inn and Suites in nearby Huntersville. Near the banks of beautiful Lake Norman, the charming area that surrounds the hotel boasts a mild climate, shopping, championship golf course and more If I can stay in one place with all the excitement AHHHHHH
  • The ride along experience will feature a closed question and answer session for the rider and one guest with Dale Jr., including hors d’oeuvres and beverages Now remember I will need to be able to speak last time I saw him I was like a little school girl and cound not even talk
  • A personal opportunity to meet Dale Jr. for the LORI  and one guest and get your photograph with him and autograph on your favorite memorabilia
  • Take home a piece of your experience; LORI  will receive one pair of Dale Jr.’s custom Skeleton racing Gloves, autographed by Dale Jr. and worn by him during your ride. A DVD of the experience, including footage from an in-car camera and your time with Dale Jr. will be created by Hammerhead Entertainment and mailed to her.... She may pee alittle
  • Leave in style! LORI and one guest will each receive a SWAG Bag including a pair of SPY sunglasses in Dale Jr.’s favorite, “Dirty Mo” style
  • Before taking on the track LORI  will enjoy the Charlotte Race Weekend with Two (2) grandstand tickets to the Nationwide Series Dollar General 300 and Sprint Cup Series Bank of America 500 at Charlotte Motor Speedway on Friday, October 14 and Saturday, October 1, including a behind-the-scenes Pit and Garage tour at Charlotte Motor Speedway prior to Friday’s Race
  • Walk through NASCAR's most memorable personalities and moments with two tickets to the NASCAR Hall of Fame in Charlotte, NC

HOLY COW that would be a trip of a life time and would make a dream come true .... PS I can always wish.... But if you would like to help you can send your donation to 2609 N Main Sunset Utah 84015 or stop by my office and drop the coins in the DALE JR Can.