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Everyone's broke. Gas prices keep rising and falling. America's three largest manufacturers of recreational vehicles are losing money like their pockets are full of holes. Perfect time to invest.

Well, it is if you're Warren Buffett, the richest man in the world, who has made an art out of "buy low, sell high." Through his holding company Berkshire Hathaway, the Texas-based legendary Omaha investor has invested some $40 million in Middlebury, Indiana's Coachmen Industries, makers of the Viking line of motor homes. The move is diametrically opposed to that of fellow American investor Kirk Kerkorian, who is rapidly divesting from America's automakers. Prospects in the RV market hardly look any better than Detroit's - projections place sales next year at their lowest in 18 years - but sooner or later, they'll recuperate. You can bank on that...Warren Buffett certainly is.

[Source: Edmunds Auto Observer | Image: Alex Wong/Getty]

World's Richest Man invests in RVs originally appeared on Autoblog on Tue, 06 Jan 2009 08:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buffettcoachmencoachmen industriesCoachmenIndustriesrecreational vehicleRecreationalVehiclervRVsvikingwarren buffettwarren buffett coachmen industrieswarren buffett vikingWarrenBuffettWarrenBuffettCoachmenIndustriesWarrenBuffettVikingTue, 06 Jan 2009 08:31:00 EST<![CDATA[What do billionaires drive? Same cars as the rest of us...]]>http://www.autoblog.com/2006/09/19/what-do-billionaires-drive-same-cars-as-the-rest-of-us/http://www.autoblog.com/2006/09/19/what-do-billionaires-drive-same-cars-as-the-rest-of-us/http://www.autoblog.com/2006/09/19/what-do-billionaires-drive-same-cars-as-the-rest-of-us/#commentsFiled under:

If you had a net worth in the billions of dollars, what would you drive? A bright red Ferrari? The million-dollar Bugatti Veyron? The super-luxurious Maybach 62? How about one of each? You may be surprised to find out what Forbes' Top Ten richest people in the world are driving. Not an exotic Italian supercar among them.

  • Bill Gates drives a '99 Porsche 911 cabrio. He's also got a rare Porsche 959, for which he got President Clinton to sign a law legalizing it for road use. Now that's some serious clout, but with $50 billion at his disposal and a taste for Stuttgart's finest, wouldn't a Carrera GT or a new 911 Turbo have found a way into his garage?
  • Billionaire investor Warren Buffett drives a Lincoln Town Car Signature Series, complete with landau roof.
  • IKEA founder Ingvar Kamprad has a '93 Volvo 240 GL, but prefers taking the bus. Seriously. And he uses his senior-citizen's card, too.
  • Like his pal Bill, Mircosoft co-founder Paul Allen has a Porsche 959 (how original), but drives around Washington State mostly in an '88 Mazda B-Series pickup.
  • Saudi Prince Alwaleed Bin Talal Alsaud, meanwhile, has got the Infiniti FX45, Hummer H1, Volvo XC90, Rolls Royce Phantom and Daewoo Matiz in his garage. Two of each, so that his entourage can follow in identical wheels. (If the Daewoo seems out of place, it's because the prince is part owner of the company.)
  • Michael Dell (whose name is probably emblazoned on the computer you're using to read this) alternates between a 2004 Porsche Boxster and a 2005 Hummer H2.
  • Larry "the Oracle" Ellison has got wheels with some style: a pair of new Bentley Continentals, a GT coupe and a Flying Spur sedan. (They go well with his fighter jet and America's Cup racing yacht.)
  • Jim Walton, owner of Wal-Mart, has for a garage what you'll probably find at the local used car lot: a 2002 Dodge Dakota, '99 Chevy Silverado, '98 Mitsubishi Montero Sport and 2000 Acura Integra, all available at everyday low prices. (His '59 Cadillac is probably a sweet ride, though.)
  • Jim's sister Alice Walton walked after killing a woman in '89 behind the wheel of a Porsche. Now she drives an F-150 King Ranch pickup. (More carefuly, we hope.)
  • Like his colleagues Bill and Paul, Steven Ballmer made his billions at Microsoft, but he stays true to his motown roots at the wheel of a '98 Lincoln Continental.

We know what you're thinking. "If I had that kinda money...". But you don't. Neither do we. So we'll all just keep on dreaming. Follow the link to Forbes for pics of these millionaire-mobiles (not the actual ones owned by wealthy, just stock shots).

[Source: Forbes Auto]

Continue reading What do billionaires drive? Same cars as the rest of us...

What do billionaires drive? Same cars as the rest of us... originally appeared on Autoblog on Tue, 19 Sep 2006 20:32:00 EST. Please see our terms for use of feeds.

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