Warren Buffett is going to be appearing live on CNBC’s Squawk Box on Wednesday, October 24, 2012. He’ll be settling in for a two-hour interview being conducted by Becky Quick. The interview starts at seven a.m. Eastern time.
He will also be speaking later on during the day, when he appears at GE Capital’s National Middle Market Summit. This event is taking place at Ohio State’s Fisher College of Business.
This is going to be the first time Warren Buffett sat down for an interview since he completed his prostate cancer related radiation treatments. He had to undergo a series of these treatments in order to heal himself of this form of cancer.
Becky Quick mentioned that she is going to ask Warren Buffett if Berkshire Hathaway is seeing their global economic growth slow down. Many other companies have been talking about slow growth this week, such as 3M, DuPont and United Technologies.
But that’s not all… Some of the other topics that will most likely be on the agenda are the presidential debates, the controversial remark he made in regards to the rich paying higher taxes, the overall health of the US economy, his thoughts on the financial markets… as well as next month’s presidential election.
Berkshire Hathaway reduced 36 percent of their stake in General Electric, who is the owner of CNBC. They currently have 5,000,000 shares of GE, and if they kept the full amount of their previous shares, it would currently be worth $106 million dollars at this time.
Warren Buffett also cut a deal with General Electric during the height of the credit crisis in 2008. Berkshire Hathaway actually loaned General Electric $3 billion dollars at the time. GE repaid the loan the last year, and it brought Berkshire Hathaway a profit of $1.2 billion dollars. Not only that, Berkshire Hathaway also holds warrants that would allow them to buy shares of GE common stock at $22.25 cents a share. The agreement they made would allow them to buy $3 billion dollars worth of the stock at that price.