Warren Buffett of Berkshire Hathaway Inc. (NYSE: BRK-A) will be appearing on Fox Business News around the close of the market today, and we have been permissioned on some of the data which will be covered.  Mr. Buffett noted issues such as his shot at being Treasury Secretary, the future of Goldman Sachs Group (NYSE: GS), unemployment, Autos, the price of Berkshire Hathaway, and more.

First and foremost, the Oracle of Omaha told Fox Business News one person for sure who he knows will not be the treasury Secretary... HIMSELF.

On the economy and unemployment, Buffett said that he thinks unemployment is going to be far higher than what the Fed gave as projections. “There are going to be more people unemployed…but I'm not worried about how we come out in the end. I mean, I'm not worried about five years from now. Five months from now, can be very painful…it will be considerably higher…It will happen eventually [surpassing 8%], and we will go on to new heights, but it will not turn around by mid-year next year.”

Buffett also noted his position on the price drop seen in Berkshire Hathaway shares.  Shares have traded north of $150,000 per "A" share this year, and shares were briefly under $80,000 today and this week. But as far as this worrying the billionaire after seeing roughly a 50% haircut, he did not seem worried about it. “No, it doesn’t make any difference. I mean, if you don’t own it on margin, you own a business… I look to the business to determine my results. I'll say it's happened to me three other times in my life, too.  It happened when it went from 90 to 40 back in 1974, and it happened in 1987.  It went down 50 percent in 1998 to 2000. I mean, I hope I live long enough so it happens a couple more times to me.”

As far as ramifications to auto bailouts, he has a couple ideas which really fall on the executive teams themselves.  “I would drive a deal like I would drive myself if I were buying a business.  And I think, I would say there's plan A or plan B.  And if you don't want to do it this way, you know, then...take bankruptcy.  I would make the CEOs buy in.  I would say, you know, the United States government is willing to put in X dollars, but we're going to have you put in a certain percentage of your net worth right along with us.  We'll give you more upside, but you're going to lose if we lose.”

Buffett is also still talking up his investment in Goldman Sachs group (NYSE: GS). “Their businesses are all tough now, but they're going to get around it…This time, the institutions got very, very leveraged, and when the whole world tries to be leveraged at one time, I mean, there is a lot of pain that goes around.  But you know, the Goldman’s of the world, they're going to be around.  Some of them needed, I mean, not Goldman specifically, but some of them needed the help of the TARP.”

There are other circumstances and situations that are equally as important.  He discussed the current president's role, the future of a President Obama, Hank Paulson, his next investment picks, and selling investments.  For the rest of what he will say, he'll be on Fox Business News right around the close today.

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Jon C. Ogg

November 21, 2008