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Billionaire investor Warren Buffett touted his
plan to acquire PacifiCorp — a six-state utility
with 1.6 million customers in the western United
States, including 60,000 in Idaho — during an
appearance Monday in Boise.
Buffett joked that Monday's audience members
should urge people to visit the R.C. Willey Home
Furnishings store his company owns at the
intersection of Franklin and Eagle roads in
Buffett assured his audience that he views the
acquisition of PacifiCorp as a long-term investment,
not a cash cow to be milked before being sold off.
Regulators, while generally receptive to Buffett's
homey approach, said they would reserve judgment
until they see an official filing on the proposed
"But then, I didn't expect it to," Beyer said.
He said Oregon regulators recently scuttled a
proposed acquisition of Portland General Electric by
Texas Pacific Group because of fears that the deal
was too highly leveraged.
"I call that 'gin rummy management,' " he said,
"where you pick up one business, and get rid of
"We're going to put every dime into the company that's needed," he said.
Buffett touched on a number of topics — from a possible bubble in the real estate market to his company's long-term investment strategy — during his talk Monday to the Western Conference of Public Service Commissioners at the DoubleTree Riverside Hotel in Boise.
The world according to Warren Buffett
On the benefits of the PacifiCorp acquisition to
Page Updated: Thursday May 07, 2009 09:14 AM Pacific
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