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Warren Buffett was impressed after watching CEO Rick Wagoner's performance on CBS's "Face the Nation" a couple of months ago. So, the Oracle of Omaha faxed a note to Wagoner praising him for his work in front of the TV cameras, and promised that his next vehicle would be a Cadillac. Buffett apparently has kept his promise, recently sending out his daughter to pick up a new DTS - a sign that he's "behind GM 100%".  

Now, we admire Buffett and his investment savvy, and we understand that one doesn't earn $42B by spending irresponsibly (he's said to still live in the house he bought back in 1957). But let us make it very clear that if we ever have an eleven-figure bank balance and find the urge to buy a Cadillac, we will skip right past the DTS and find ourselves zipping around Nebraska in a nice Cadillac STS-V.

[Source: Money/CNN]



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    • 1 Second Ago
  • 18 Comments
      • 9 Years Ago
      I suspect Buffett bought the best car for him. Not long ago I test drove the DTS and STS (non V, but V8 AWD) with my father. While the old man isn't much younger than Buffett, his two current cars are a Lexus GS 400 and Mazda RX-8, and he mostly drives the Mazda.

      He vastly preferred the smoother, quieter ride and roomier, more nicely finished interior of the DTS.

      The full review of the two:

      http://www.epinions.com/content_209422093956
      • 9 Years Ago
      I might be more impressed if Mr. Buffett bought shares of GM. But I would REALLY BE IMPRESSED if he bought a Chevy Impala or a Pontiac G6. In other words, if he really thought the "AVERAGE" GM product was terrific.
      Greg A.
      • 9 Years Ago
      Does Warren Buffett have bodyguards? I'd like to know what kind of cars *they* drive.
      • 9 Years Ago
      This is a genius move by Buffet. You're right #5, it would be impressive if he bought GM stock.

      I believe he will eventually.

      Remember, Buffet is America's greatest pure investor in history. He's incredibly shrewd and very patient. He's wanting to generate a buzz that will help not only investors' confidence in GM, but for GM itself. He wants GM to succeed royally. However, he himself isn't ready to purchase their stock just yet. He doesn't have enough confidence in GM at this point. However, he wants to, because he knows that if he can purchase stock at a price just a hair above rock bottom level right at the time the other investors are starting to steamroll the increase in GM's stock value, he can make out either like a bandit if GM rebounds like a champion Phoenix or sell just as thinks they've peaked and pocket some profit.

      His little PR move is his little way of artificially priming the pump for Wall Street's interest in GM.

      Smart move Warren
      • 9 Years Ago
      If it is good enough for Warren Buffet, than sign me up.

      I'm getting rid of my Bently GT Continental and getting a DTS!
      • 9 Years Ago
      He's 74 years old and looks every day of it!! What other Cadillac do you think he would buy?? Maybe a V or SuperV version of the DTS, any other car would probably not suit him. Hell, the Z06 would probably scare him to death......literally!!
      It's good to see the public support for GM though.
      • 9 Years Ago
      I don't know if I would send my daughter out to buy an STS-V; a DTS might make more sense for her :-)
      • 9 Years Ago
      gbh: GM is worth less than 15 billion in market cap. Considering debt, legacy costs, profitless cost structure, etc., you could probably buy GM for a lot less than 50-75 billion.

      The only things left of any real worth in GM is the brand and plants/real estate. Management? Nope. Workers? Nope (because of unions that think it's 1955).

      Berkshire could buy GM today if it wanted to.
      • 9 Years Ago
      YES, I PUT IN A COUPLE OF POSTS MYSELF, BUT IT DOESN'T SOUND NEARLY AS GOOD FROM ME
      gbh
      • 9 Years Ago
      ooops, "Berkshire" as in "Berkshire Hathaway"

      • 9 Years Ago
      Why not support GM with a new Z06! It is such a waste when someone has big bucks but chooses to drive a lame car. OK OK... I know that not everyone cares as much about cars as my fellow autoblog readers do, and I know that most millionaires are actually quite frugal and that's a VERY good thing in an age of credit card debt and adjustable loans. Likewise I couldn't be more turned off by the blatent materialism showcased by MTV's My Super Sweet 16- so a story about someone with money who isn't completly engrossed by flagrant materialism is refreshing. But back to cars, I hear that Bill Gates drives a pretty basic car (not sure which one) to work everyday, but at least he has a 959 for weekends....
      • 9 Years Ago
      Warren Buffet always drove unflashy big American cars -- I remember hearing about a Town Car, a Buick, and a Taurus through the years. The DTS is a step up on the flash meter.

      Guys who are smart and wealthy don't always drive expensive or fast cars.

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