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Weekend With Warren: Iscar Chairman Eitan Wertheimer on the business’ record earnings in 2011 and sustainability in a volatile economy.
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Why live.
David you know what Warren Buffett over the years has -- close -- eighty businesses only one business.
That wasn't based in America and that is is car out of Israel I had a chance in a box this is exclusive to sit down -- the chairman Eitan Wertheimer his father founded it in a garage behind their house years ago.
To talk about -- you sell to the aviation in the auto industry the hard hit industries.
How do you stay successful during tough economic times.
It's a whole story.
We have -- wonderful customers.
They're wonderful people on this and we have to receive its own out together.
That's so ago.
In realistic -- we have to put.
Would -- all the time Mednax solution -- custom because all of them want to be more competitive tomorrow morning -- the next day the next day.
And if we get -- and good solution -- be competitive -- be successful and that's our job.
OK so you are executing you do a good job that's all very nice -- Tom but the fact is.
We have big troubles in the -- -- -- the global economy has started to weaken China in which you do business as well is showing a little sign of stress and strain.
So how is it that you had record earnings last year in what you do and by the way he does cutting tools.
For heavy metal industries like aviation and the -- and it's.
History.
We found long time ago that we do not simply -- moment.
-- -- -- We think we have thousands of people please get up polluted earlier and find another customer all get get the same -- -- -- products and our customer.
I see balance sheet recession -- -- countries in the housing in the financial markets on the other hand people like eating and drinking and driving -- going over the life and have some.
Stay -- life and that local successes in spite of the balance you.
Should these.
Economy which -- just operational month.
It doesn't look to do you had dinner with Warren -- last night.
How to look.
-- -- Mode is.
Has got all that'd be you know.
Its old level follows.
And you don't find teachers around.
It may be run out of review in the one out of a hundred PS comes from the -- of.
For -- especially loan is a great great future.
And the island from him live perfect balance between you'll -- from -- positive profit.
And those things every time that we talk could you learn something new and this looks like the -- The song -- -- -- song -- the auto in the -- how does -- look for your company because he worked -- it and as you know some people disagreed with bailing out General Motors and Chrysler a couple of years ago during the crisis.
President Bush and what's -- -- President Obama follow through with it.
Mitt Romney who's running for president has said he wouldn't have done -- I know very little about the politics.
Dealers say I know that the right thing to bail out the US -- IC GM came out you models.
And his winning market and an amazing job.
Than I have all the respect -- -- didn't -- -- -- For the best idea that at this.
An investor like and think about politically I don't know but.
Did you also can -- that there may GM.
And so you can go through rough weather you can go through rain but you're still have to you can -- -- -- I think the lesson is very important may have some bad times.
-- -- Wertheimer the chairman of its guard David it's almost 5 PM here we are at the bar but I'm too busy I'm gonna be working on my newspaper throwing efforts like our have a drink and I think it'll make -- better show.
