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Warren Buffett Buying Stake in G.E.
By
Jen Chung
Published Oct 1, 2008
Modified Oct 1, 2008
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By
Jen Chung
Published Oct 1, 2008
Modified Oct 1, 2008
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Billionaire investor Warren Buffett announced he will buy $3 billion in G.E. preferred stock, "G.E. is the symbol of American business to the world... They have strong global brands and businesses with which I am quite familiar. I am confident that GE will continue to be successful in the years to come.” G.E.'s stocks dropped this morning. Eight days ago, he invested $5 billion in Goldman Sachs. In the meantime, the Senate will vote on bailout legislation tonight and stocks are basically unchanged from yesterday.
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bailout
economy
ge
warren buffett
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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