Buffett: All 2,000 Iscar employees will keep jobs

May 6, 2006 17:24


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Warren Buffett, the legendary investor from Omaha, Nebraska, who purchased 80 percent of the Israeli company Iscar for some $4 billion, has decided not to make any changes in the corporation or its management, and vowed that none of the 2,000 Israelis working for Iscar in Israel would lose their jobs. In an interview to Israel Radio on Saturday, Buffett said it was the first time since 1965, when he bought the first of his dozens of companies, that he could make that promise. Buffett said that he agreed to the deal because Iscar is an "excellent" company with "wonderful" people. Asked if Israel's strong economic showing as of late influenced his decision, Buffett said, "I believe in Israel."

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