They ought to have played Benny and the Jets, Elton John’s energetic ode to — well it doesn’t matter what the song’s really about (Berkshire Hathaway doesn’t deal much with pharmaceuticals). No, the Elton John song would be perfect to celebrate the richest deal of Warren Buffett’s career because the deal is “so spaced out” like the song says.
In buying Precision Castparts (PCC) for $37 billion, Buffett specifically cited the companies high-flying aspect: “it is the supplier of choice for the world’s aerospace industry, one of the largest sources of American exports.” PCC, a massive manufacturer in Portland, Oregaon, makes components not just for aerospace but oil and gas and other sectors.
