Aug 16, 2007 1:55 am US/Eastern
Warren Buffett Speaks At Obama Fundraiser
OMAHA, Neb (AP) ―
Billionaire investor Warren Buffett says it can get a little lonely being a Democrat in Nebraska. But he had plenty of company Wednesday night at a fundraiser for Democratic presidential candidate Barack Obama -- and organizers say Obama made a valuable investment.
"I think his stock in Nebraska goes up from here," said Omaha businessman Harley Schrager, who co-hosted the event with Buffet and others.
The total raised wasn't immediately available, but the minimum price to get into the event was $500 a person, and organizers estimated the crowd at about 200. About 40 people attended an earlier reception, and each donated at least $2,300 for admission.
Obama called Buffett "one of those people I listen to," but said that while the support from the so-called Oracle of Omaha is great, it's not enough to get elected, and he appealed to the gathered business people, lawyers and local politicians for their help.
Buffett hasn't endorsed a presidential candidate yet, but he said Wednesday that Obama "is going to bring outstanding ideas to a new administration."
He's said previously he'd be happy with either Hillary Rodham Clinton or Obama and has also spoken favorably about the presidential prospects of New York Mayor Michael Bloomberg, who recently left the Republican Party to become an independent.
Buffett, 76, who runs Omaha-based Berkshire Hathaway Inc., helped Clinton raise at least $1 million for her campaign at a June event in New York.
Obama took questions from the crowd, and was asked: "Why you and not Mrs. Clinton?"
"I think very highly of Senator Clinton," Obama responded. "I think she is tough. I think she is capable."
But he said while Clinton is capable of being president, he can not only win but also get things done in Washington.
Berkshire Hathaway, Buffett's investment vehicle, has assets of more than $260 billion and owns more than 60 subsidiary businesses including insurance, clothing, candy and furniture.
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