The "Oracle of Omaha" (no relation to the "Oracle of Delphi") granted an exclusive interview to CNBC yesterday where he gave Liz Claman a ringing endorsement of the General's General, Rick Wagoner. Buffett told Claman that "...you've got the right person running General Motors." But despite the man at the helm, he's still not entirely certain the US auto industry can be saved. He thinks "it will require a lot of cooperation from the union...and I can understand their viewpoint, they have promises that were made to them in the past...so it's going to take some real understanding on both sides, and maybe it'll be accomplished and maybe it won't." So, since he's giving survival 50-50 odds, we're kinda guessing Buffett's not going to be sinking a whole heck of a lot of his ducats into that bet.

Buffett's Pearls Of Wisdom [CNBC.com]

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