that's personal pricing. >>> investor warren buffet is bullish on america. t since the financial crisis began, but that's when buffet actually spent $20 buying stocks. poppy harlow joining us live from new york with the details. poppy? >> this is classic buffet. you've got the u.s. downgraded by standard & poors. you have a huge crisis in europe concerning their debt. what does warren buffet do? he decides this is a good time to spend $20 billion. that is exactly what the oracle of omaha did in the last quarter over that three-month period. this is what a value investor does. they invest when the market is fearful. when other people pull out. take a look at what he spent the company's money on that $5 billion investment in bank of america. huge injection of confidence there into one of the country's troubled banks. an $8.7 billion investment in a huge chemical company in this country lubrizol and $6.9 billion in other stocks from banks to insurance companies to consumer confidence companies. we don't know exactly what the companies are but will in about a wee

to take a little field trip from omaha the tokyo looking for bargains is this a good idea of warren buffet's to go look for bargains in this area or is this economy because it's dependency on oil and the changes in. macroeconomic really not that the bargain of the fukushima disaster revealed. in is really running on what's known as a very tightly coupled energy system and tightly coupled systems tend to collapse when you break off just one little part of them and when the fukushima and other nuclear complexes went down you had tremendous strains on the rest of the japanese energy system and of course japan's manufacturing a lot of its goods through the electrical grid and through the importation of liquefied natural gas so japan i think has been a bit of a value trap or value oriented investors for two decades yes they do have productive capacity and a very high world class productive capacity but that hand is not bringing any other advantage for the table in terms of energy and they're having to pay the highest prices in the world for liquefied natural gas in fact i was just looking at liqu

. >> and warren buffet couldn't hold back, investing megabucks in ibm but kindel fire gets shipped out ahead of schedule. and that is today's after the bell report. >> it's an early delivery for the kindel fire today. amazon starting shipping ahead of schedule but not lighting under fire under the ipad yet. reviews are lackluster to lukewarm, one thing everyone does agree on is that price is unbeatable, just $200 less than half of the ipad. so price may be right for millions of customers but sit right for amazon? bloomberg west discovered today even sek zpiz exchange commission would like to know and wrote a letter to amazon telling them to please explain significance of the rev zmuz gross profits. amazon been put on notice to notify when the gross profits reach 5%. ama son does not release sales numbers for kindel. that is why there are many questions about it wech know is that amazon is betting big on this one. you may recall kindel fire is so cheap amazon is selling it at a loss. and big blue has a new big investor. warren above yai. cording to filings, purchased $10 kbrinl worth of

it's owned by warren buffet.ama and said yeah, people -- rich people like me should pay more in taxes and president obama goes around saying the millionaires, billionaires, fat cats and corporate jet owners you should be paying more. well, warren buffet owns the largest private jet company in the world and the irs says hey, you owe us $642.7 million. you should have been charging those fat cats ticket taxes. you didn't. there's irony here. >> who is suing here? the irs is suing buffet? >> the irs says to net jets warren buffet you owe us $642 million. net jets says wait a minute, we're going it sue you because you're falsely accusing us of not with holding taxes. >> essentially, they will go under if they pay these taxes. >> yes, they will. if you pay that tax, you're out of business. >> let's talk about the super committee and what it's going to mean for all of us if they say we don't have a framework and wednesday, we don't have a deal. what -- you know, we saw mark zandi yesterday with chris wallace saying we'

warren buffet's secretary. has become the most sympathetic woman in the world because warren buffet himself is a cheapskate. just because he can't figure out a way to pay her without putting her into this higher tax bracket, he's changing our entire tax system. just so he and obama can make a political point. here's the advice, warren buffet, pay your secretary with stock options and then she can pay the capital gains tax rate which is lower. >> so she fits into a different tax bracket. >> why can't he figure that out? >> suddenly to keep talking about her on a regular basis. number three on your list, of course, this is timely in the headlines this week, the super committee. >> yeah, the super committee. first of all, doomed from the start. patty murray, senator patty murray was on this committee. she's a wonderful woman but not the president of the senate's mensa club, if you know what i mean. this was not going to be any kind of success and who named it the super committee by the way? whoever named this the

. >> warren buffet is 80 and he's still working. age is just a number when it comes to retirement.i will talk more about that coming up. boeing added business sales kickoff today. >> uses place me in the same category as warren buffett. thank you, jane. >> 56 degrees on tv hill. details on a device that saved a doctor's life. ♪ [ female announcer ] we know you've got a lot on your plate at thanksgiving. which is why safeway has everything you need to get it all done. right now, get a safeway frozen turkey 8 to 24 lbs, for just 58 cents a pound. cook your thanksgiving turkey perfectly with our free chef assistant app. it's foolproof. safeway. ingredients for life. >> a local doctor has an amazing story to tell. >> donna hamilton spoke with him and his wife. she has a preview. >> after open heart surgery, this doctor and his wife worked every day at the mall. this past december, they finished two miles when something unexpected happened. >> i felt -- i didn't feel anything. the only thing i felt -- i was feeling a little lightheaded. >> we were just finishing up and we are right over

and warren buffet revealed he bought ibm stock. >> and four years ago san francisco was the first cityin the nation and use of plastic bags in grocery stores, legislation introduced today that would impose a 10 cent charge on the use of a bag at retailers throughout the city, increasing to 25 cents by 2014. and customers seem to understand the message behind the proposal, bring your own. >> i think it's right. it's not a big deal. i can bring my own bag. >> the board is scheduled to vote next week. >> and getting your car repaired can be chal yempblging. how do you know what is reasonable? now there is an app for that. and there is some services to help you it's frustrating we know what we should pay for the items and when it comes to car repairs? well, we're often in the dark. this is good part of car ownership for amarino. bad part? getting it fixed. >> we got in there, expected it to be $299, left the car. they said they'd give us a call. we got back and they said it was $500 you may have a story like that. how do you protect yourself? >> we call this a repair cost calculator. >> ja

. >> i've said it before, i'd rather talk about movies but when i hear warren buffet willing to give up some of his income and i'm women willing to give up some of mine. >> bill: what do you think would be fair for you? what percentage of your income would you hand washington? >> i haven't thought about percentage. i haven't. but what i will say if warren above skbrai people like myself who get tax breaks and helping the person down the street you've got to give back. >> i don't mind giving back. doesn't it give you pause. >> people say we want to volunteer and help. give it back. >> bill: you can do that now. >>you do give way a lot of money. i'm not down on you on that. but this is a hire taxation on 1% is the government saying i'm going take your success and give it to solyndra, which goes bankrupt. and people like me go wait a minute. i don't trust you to do the right thing with my money. you've been so incompetent. it's chaos. you can't control borders and can't do much other than collect taxes and yet we have a great military other than it's just not working. why doi want to gi

. >>> warren buffet is warned to buy and that's a surprise since they have long stayed away from tech stocks because it is too difficult to predict which businesses will process but he should have known ibm's core business is no longer it's hard way. >>> we will tell you why fewer people are coming from the u.s. and the reaction of a south bay man, after a mechanic finds cocaine hidden in his mini-van. >>> golden gate bridge commute looks good, we will tell you more about the morning commute straight ahead. introducing htc rezound. get studio quality sound for music and hd video at verizon 4g lte speed. the first smartphone with beats audio™ and beats™ headphones included. exclusively at verizon. . >>> new information shows the slumping economy is also slowing down immigration from mexico. tougher border enforcement and tougher gangs on the border are all discouraging illegal immigrants. it is showing fewer mexican are setting out and many more are returning. san mateo counties board of supervisors is considering new regulations on massage parlors. they recommended banning massage the

. >> bill: warren buffet. >> capital is not always available. >> bill: buffet has a lot of capital. >> this is l. spread to other creating a manufacturing base we now don't have. creating jobs. it's doing a whole number of things that you are in denial about. >> bill: we're in denial. >> i'm a free marketeer. >> that hasn't worked so well. i have a -- >> bill: she is your sister-in-law. 18,000 people in south africa just collapsed. they are related. >> next to my mother-in-law, monica is a liberal. >> bill: your mother-in-law. >> very conservative. >> she has been trying to get me out of the family for many years. >> far left end of the table. >> bill: that's where alan could be. >> under the kiddy chair. >> bill: i hope happy thanksgiving dinner subsidized for colmes. what should the cable networks do if a moderator or guest lies on the air? bernie goldb >> bill: thanks for staying with us. i'm bill o'reilly. you may remember barkin telling joy behar that i verbally attacked her. >> i'm very flattered that i'm on bill o'reilly's radar. >> did he call you a pinhead, probably? >> i tho

a unit of warren buffet's berkshire hathaway is suing the irs.y the irs fined them for not collect ago ticket tax which only applies to commercial and charter airlines and not personal aircraft. >>> and more big box stores expected to open thanksgiving night this year. but the early openings are prompting a backlash by consumers and store workers who say thanksgiving should be a day reserved for time with the family. >> arthel: well, despite all the doom and gloom we've heard about debt problems in europe and the see saw stock market, there are new signs of life in our nation's economy. according to the commerce department, new housing starts are up by more than 10%. unemployment claims fell to their lowest rate since april this week. a sign that the pace layoffs could be slowing down. and a positive surprise from america's retailers, better than expected retail sales pretty much across the board as consumers head back to the shopping malls. the question is, is the economy truly on the rebound? joining me now, fox news business contributor, gary.

this morning warren buffet is in japan.touring a factory that was badly damaged after the earthquake and tsunami. those disasters happened days after buffet was scheduled to visit japan. in may he said he would be delighted to invest in japan. there's no word yet if he will make good on that promise now. >>> national association of realtors will release its october report on existing home sales. most expect sales slipped. >>> you know how great you feel when you walk out of your hair salon? that feeling is turning into big business. blow dry bars seem to be a splurge that women are willing to do even during a recession. revenue from hair salons has dropped 3% every year in five years. salons that specialize in styling rather than cutting are booming. >> we started with just our one store in palo alto. after only three months in business it was clear we needed to expand our business. >> within a year she opened another salon. this year eight more are in the works. the owner says at $35 it's a guilty pleasure that doesn't bre

. >> warren buffet is in japan today where they took part in a new factory. tsunami disaster has not changed its view that japan is a great place to invest. >>> despite an increase in crude oil prices last week the cost of a gallon of gas fell about a nickel across the country. the national average is $3.35. here in the bay area @st it's about four sents more. it's five cents cheaper in the east and south bays. >>> checking in on the numbers. a live look at the big board. unfortunately dow jones off more than 200 points. it was expected as we have been reporting all morning long a lot of that having to do with that deadlock in congress. uncertainty never a friend of wall street. dow jones off 200 points. >>> you know how great you feel when you walk out of the hair salon. that feeling is turn into big business. blow dry bars is a splurge. women are paying for even during a recession. revenue from traditional hair salons are down. those who specialize in styling are booming. >> we started with just our one store? palo alto. after three months in business it wa

. >> here at home though the billionaire investor warren buffet injecting confidence in the market. >ying a lot of stocks. he doesn't buy one or two. he buys millions of dollars worth of stocks. look it starts with intel and ibm. what's interesting about this is that warren doesn't typically buy technology companies. he thinks they are too volatile. ibm more now of a service company in the technology space. that may be why is he drawn to it. but spending millions and millions and millions of dollars for this. >> spend away dr. buffet. >> you betcha. >> gerri willis part of the best team in business. her program airs 4 central on the fox business network. president obama is heading to australia nine day trip across the pacific. a week in hawaii with leaders. the president emphasizing the region's critical role in shaping the future of the united states. not everybody is getting behind the trade policies is he pushing. and tonight word of growing tension with an asian super power. the chief white house correspondent ed henry is live in honolulu tonight. ed on the heels of this economic

i know we warren buffet says be agreedy and look for values but i am saying, well, now is in the time. >>shepard: one too many times we have seen this. thank you, from washington, dc, in congressional office is safe. the debt is fast approaching, now, $15 trillion. just as the senate approved another mini spending bill. democrats claim it will cut spending by $1 billion, $1 billion and republicans charge, though, the but the voters wante of this. >> how many of you are frustrated about the gamics and accounting tricks in washington? >>neil: you saw the happened, and we have the guy asking the question, frank luntz. you would think politicians know how we family but they continue doing this. >>guest: the segment that comes after that was so interesting. we tested senator sessions new legislation, honesty in budgeting and you would think you would not actually need something like that. of all the things i have done this year the concept of restoring honesty in what washington and, and ending the accounting tricks and empty promises, it was the number one tested item i have done in terms

there's a myth out there for people like warren buffet who benefit from higher taxes and the outrageouseatures of the death tax. he buys up family businesses destitute out of probate, and he has his money in a trust, and he dodges taxes. overwhelmingly, higher income people pay higher taxes. there's a myth it's a lower tax, but the capital gains tax is a surtax on already taxed income. have if it's 1%, it's a higher tax than ordinary income because it's an additional tax on income already taxed, and so if you look at the actual tax from the irs, they don't bear out the claim, and moreover, if you look at the -- if you look at the tax treatment of capital for what it is, a punitive additional layer of taxation on already taxed income, it's already more clear the rich are paying lower taxes is not accurate. >> host: patty, indiana, democrat. >> caller: yes, i think we desperately need campaign finance reform for one thing. we're not a democracy anymore. anybody that knows what that means, i think, would agree with me. >> guest: i wouldn't. >> caller: maybe you don't. >> guest: i don't. >>

. >> "the wall street journal" says warren buffet who famously avoided technology stocks in the pastisclosed the purchase of 64 million shares of ibm at a price of more than $10 billion. buffet said he admires ibm in part because of its five-year road map and its record of meeting long-term goals. >> the "new york times" says an old rival pays his last respects. muhammad ali was among those who attended the funeral of former heavyweight boxing champion joe frazier yesterday in philadelphia where reverend jesse jackson gave the eulogy. >> great photograph. to our parade of papers "the dallas morning news" says king abdul of jordan is turning up the pressure on syria and becomes the first arab leader to urge president asad to step down. >> and those hoping to force republican scott walk near a recall election next year are angry over his move last spring that effectively ended collective bargaining rights for most public workers. they are hoping to build on momentum from ohio voters who rejected a similar law last week. that's a quick look at the papers. let's move on to politico with

. >> steve: his proposal kind of sounds like what warren buffet suggested a couple of months ago.tion at any time in which there is a federal budget deficit. one of mr. perry's suggestions is that you cut congressional pay in half and then cut congressional pay in half again, they don't balance the budget by 2020. >> brian: we'll see. for governor perry to pretend like he's not a career politician, which is a little disingenuous, because he's been a career politician. >> steve: maybe if they worked half as much they would spend half as much. >> brian: james writes, surely the founding fathers didn't want them to vote on their own salaries. >> gretchen: if congress performed as badly in the private sector, they would be fired. >> steve: a twitter comment, absolutely agree. cut benefits and time in d.c if representatives are home, they can do no harm. good point. >> gretchen: interesting thing is you can vote to put somebody out of office. in effect, we have term limits, but is that really the way it ends up working out? you be the judge. >> brian: next up, how would president obama

. >> tom: that was warren buffett, and he has now embraced the 21st century by purchasing a big investment in one of the oldest technology firms. i.b.m. is one of buffet's largest investments yet. darren gersh reports. >> reporter: warren buffett says he likes companies that are surrounded by a competitive moat, meaning other companies can't easily find a way into the fortress. the motley fool's eric bleeker says that is a good way to think of i.b.m. >> buffett said today no one's ever been fired for picking i.b.m., and if you move away from i.b.m., you're endangering your job and your entire organization. remember, i.t. is built on 99.9% always working, and once you have i.b.m. in your organization, to move it? that's a risk that you're not going to have that same reliability. >> reporter: that competitive moat must also come at a fair price. buffett disciples point out their guru won't buy a stock unless the price offers a margin of safety of around 20% to 25%. >> that's where i come back and say, "gee, if he is buying at $170 and that's the average price he bought at," then he's obviously thinking there has to got to be at least $35 or $40 more in th

remember the buffet rule, calling for a new minimum tax rate on millionaires, it's name a reference to billionaire warrent. in california a plan like the buffet rule is now in place. oh, from what we know, how very well. william la jeunesse on the story for us in los angeles. tell us about it. >> reporter: harris, right now, 51% of u.s. households pay zero income tax compared to the top 1% which pays 40% of all federal income tax. and yet senate democrats want more and proposing taxing investment income, money made on stocks, the same as ordinary income, but california already has the so-called buffet rule and it's a bugetary nightmare. state revenues dramatically rising and falling with the markets. >> it is true that capital gains income is much more volatile, it goes up and down a lot faster than ordinary income. but it's not hard to forecast that, now where the markets are, you pretty much have a sense of realization. >> well, california more than any other state depends on the rich, those earnings 5 million dollars pay almost 10% of their income state taxes. 1 million, 8.4, versus those making less