Wednesday, December 10, 2008

$15B down the oil drain

Warren Buffet put $230M in for 10% of BYD (leading cell phone battery manufacturer rolling out electric cars.) For $25B you could start 10 of those companies in the US (and invest the remainder in Tesla). The govt could get warrant coverage on the investments so we could convert to stock if anyone ever IPOs again. We could use the profits to pay a portion of the lost pension benefits. The government already operates several venture funds for military purposes, so it's legally sound. These 3 Detroit behemoths aren't going to be competing on the world stage.

No comments: