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As your food company.
And speaking of what's in the past and what's in the future looking at the economy right now.
I always look at -- as as being this conglomerate that has a huge chunk in the housing business with acme brick with Shaw carpet.
Benjamin Moore paint a lot of people don't know yes Berkshire owns Benjamin Moore paint not to mention Nebraska furniture mart.
What are those companies telegraphing to you right now about the housing market and hence the economy.
Well the housing market is getting better both in terms.
-- -- -- structure and and in terms of the resale old existing -- that we're actually they also the second largest real estate brokerage -- and the United States.
Don't like I get the figures every month but every one of our.
Brokerage units from you know reporting fiber -- different cities and I get median prices like -- -- spending all kinds of big.
All the signs are pointing upward and and and in the home deals.
What are you seeing from -- carpet they're the largest industrial carpet company it's just a massive housing and development play.
Gallo -- where it.
Whether -- -- -- whether it's whether it's and in the brick business.
It's getting better it's getting better from a low base -- that I -- in Italy where.
We're not remotely back you know the war -- and then in 2005 consecutive benefactor but it is getting better every month -- I can -- -- -- terms of port shipments in terms of average prices for you name it.
The business is getting better.
Of Jamie Dimon had told me it that in Davos quote housing.
Is totally back and then Gary -- of Goldman Sachs told us to step on -- same think he feels it is very strong.
He also said that you know what you can't outsource house it's gotta be done here in the US -- -- -- how do you feel the same way.
Well -- that's true and housing.
People say well construction workers are only 4% or something of -- labor force but.
It extends -- way beyond that because you just -- did you know whether it's container Berger.
People -- -- construction workers but but -- Our activity in the steel does that deeds off construction so I think construction coming back is a very important force in the economy.
How sure your railroad looking because -- look at that always as also sending a signal about a strengthening economy Howard that the cargo loads the envelopes.
Last week we -- 495000.
Like all of the other -- so called -- but 795000.
Plus and and that was -- our percentage over all the the year before.
Big -- -- big gains keep coming.
We're not back to the peak bias by a long shot right but they keep coming in they'd been coming pretty consistently since the -- that late summer of 2009.
So we've had a rather assistant.
But not robust.
Recovery to this point but then and I think it'll continue.
This this just jumped into my head hurricane sandy of course of a lot of insurance companies a six that I think 65000 cars were lost here in the tristate area.
That -- -- any any meaningful addition to to a bottom line about what happened there.
How we we we are number one and an auto insurance and the metropolitan New York market so.
Update of the cars that were were destroyed.
We we're the leader -- That's right we're you don't wanna be has I -- okay you have -- -- -- big we love big number one at a Euro area -- W -- -- there what we've got to also got a lot but we love bacon -- there are.
-- -- over the you're you're definitely affected me every week we got our share advocate OK all right -- let me get to Bank of America because again to revisit a couple of things -- I've been fascinated watching the stock.
Ever since she put five billion dollars in preferred I -- exercisable at seven dollars and fourteen cents back in 2011 look at this stock now.
Is triple your money enough for -- still staying in.
We will hopefully will be around -- in all likelihood that can't guarantee -- -- but.
We originally got tenure orange and I would expect that -- with exercise those very closely the tenure period out of I will highlight the long term prospects that debt so there's no reason to exercise them until just.
Probably shortly before expiration.
It and -- told me back them that you that you felt very comfortable with the management of Bank of America.
Yeah I've I don't comparable that I've really been -- -- Well he's -- So I a lot of people don't understand -- you don't.
Sit there and constantly call anybody -- in whom you have the stake.
-- -- -- -- -- I probably postponed.
Bryan white and -- it did the time -- dealer couple calls and I've had probably a couple calls since then and I did.
But they invited -- from the Charlotte.
Final few weeks ago and that was the first time I've ever talked to a group of.
Did you get a trainer Dickie flat -- -- American Express -- a big a big stake there there was a moment where people were actually floating can channel's name.
As Treasury Secretary and an obviously that's not the case Jack -- is the guy right now who's being.
Going through the confirmation process do you know heaven and you know what you know what him do you think that he would make a good Treasury Secretary I ask you this because the day it was announced that.
Timothy Geithner would be the Treasury Secretary we were in all of -- -- you commented on him.
Hi yeah I'd -- and Tim there's been a true -- treasury -- their country owes them a lot.
And I do not know Jack Lou I've ever met in my never -- don't tension all incidentally would've been a -- -- treasury -- but I am very glad he's made in America which present.
-- -- -- -- You'll -- love and and then you love the way he but he marks brands.
Your newspaper business has been growing pretty exponentially lately you believe in print I'm glad to do because we're all journalists here we got -- -- -- into this building here.
It News Corp.
but as as you know there's been -- discussion about timing possibly floating some of its magazines.
You're telling me because this I would say People Magazine fits into your metrics of about competitive but at this and this ability to have a great brand you know People Magazine.
Well I read are newspapers and I don't rape people.
But you can't put yourself on the cover of the so it's a minute see our own -- and about what expecting it would have a swimsuit issue or something.
All right Warren thank you very much and our -- -- it's it's a huge purchase.
Let us know if -- -- the purple ketchup idea again because and you don't wanna catch a fellow Seattle -- -- to help it I'm all right thank you very much harder to talk to -- here on Fox Business Warren Buffett.
Berkshire Hathaway chairman and CEO again specifically he set.
This while it looks like parts of it is a private equity deal.
It is not not what he believes to be that classic private equity deal where they take a company.
-- -- -- telling Fox Business -- for the take a company shot it up and put it back out there's a publicly traded company he absolutely believes that three G and he will continue to be partners in the steel for many years to come right.
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