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Warren Buffett says people who lose their jobs have become 'roadkill'

14 May 2017, 03:16 | Vickie Mathis

Warren Buffett says people who lose their jobs have become 'roadkill'

Warren Buffett says people who lose their jobs have become 'roadkill'

"I think it's absolutely essential to America that we become more productive, because that's the only way we increase consumption per capita".

Another Democratic senator who has been a vocal critic of the new bill said it would just make the rich wealthier while taking away basic healthcare from those in need. Still, the analysts said that based on Buffett's investing record and a review of prior reinsurance transactions, the "total projected benefit" is about US$8 billion.

Asked why Berkshire Hathaway bought Apple stock, Buffett said, "The shares when we bought them at least were much more reasonable in relation to current earnings".

Buffett defended 3G Capital, its partner on purchases including Kraft Heinz Co KHC.O and an unsuccessful bid to merge it with Unilever NV ULVR.L UNc.AS , and which is known for slashing thousands of jobs to make companies more efficient.

OMAHA, Neb. (AP) - Berkshire Hathaway shareholders are attending several events around Omaha this weekend after the company's annual meeting on Saturday.

Apple has ticked all of Mr. Buffett's boxes of late, and with an iconic brand and ever-improving product portfolio, Berkshire Hathaway Inc.

Buffett said he still believes in the long-term prospects of the bank even though Wells Fargo mishandled the scandal.

"Bonds are a bad choice against stocks", he said. "It would be no fun to go through life and say I'm doing this for the greater good, and so that shoes or underwear was all for 5 percent less". But he told the meeting that he is now confident it will not resort to "suicidally competitive" pricing strategies that could spell doom.

Buffet also said that people should remain invested in strong businesses and that it was easier to invest in 1950 than today as there was less competition.

The slowdown in oil & gas effected a lot of sectors.

Buffett also argued that when Wells Fargo turned the other way when fraudulent accounts had been created, it only continued to contribute to the toxic culture, according to the Times.

If Berkshire does decide to pay dividends, it would have to commit to maintaining that payout over time, Buffett said, as cutting it could have disastrous consequences for the company's share price.

Despite softer sales in the most recent quarter, consumer loyalty to the iPhone is "huge", Buffett said.

Shareholders overwhelmingly rejected a proposal that would have required Berkshire to disclose its political contributions twice a year.

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