WHEN: Today, Tuesday, April 17, 2012
WHERE: CNBC’s “Fast Money”
Following is the unofficial transcript of breaking news from CNBC’s Becky Quick on CNBC's "Fast Money." All references must be sourced to CNBC.
Video: Becky Speaks With Buffett
MELISSA LEE: WE’VE GOT BECKY QUICK WHO OF COURSE, KNOWS WARREN BUFFETT VERY WELL, HAS DEALT WITH HIM MANY TIMES, GOING OUT TO OMAHA MANY TIMES. BECKY, YOU JUST GOT OFF THE PHONE WITH WARREN. WHAT DOES HE SAY?
BECKY QUICK: MELISSA, I JUST GOT OFF THE PHONE WITH HIM. I TALKED TO HIM ONLY VERY BRIEFLY, BUT HE REITERATES WHAT HE SAYS IN HIS PRESS RELEASE. HE SAYS HE FEELS VERY GOOD RIGHT NOW, AND AGAIN THERE WAS NOTHING OUT OF THE ORDINARY. IT WAS ONLY HIS ELEVATED PSA LEVEL THAT IS ROUTINELY CHECKED THAT CAUSED THEM TO GO IN TO LOOK FOR ANY OF THIS. HE REITERATED AGAIN THAT THIS IS A VERY TREATABLE POSITION. HIS DOCTOR’S DIAGNOSIS IS ONE THAT HE FEELS VERY COMFORTABLE WITH. AND IN FACT, AS HE POINTS OUT, HE’S NOT GOING TO BE STARTING THIS TREATMENT UNTIL THE MIDDLE OF JULY. HE SAID HIS DOCTORS HAVE NO PROBLEMS WITH HIM WAITING A FEW MONTHS TO START THIS TREATMENT. IN FACT, HE SAID THEY WOULDN’T HAVE MINDED IF HE WAITED EVEN LONGER ON THIS SO THIS IS NOT AN URGENT SITUATION NECESSARILY AS YOU MIGHT THINK. YOU WANT SOMETHING TO CHANGE RIGHT AWAY. HE IS GOING TO BE STARTING THIS AGAIN IN THE MIDDLE OF JULY. AND PART OF THE REASON HE IS DOING THAT IS BECAUSE DURING THE TREATMENT HE WILL BE REQUIRED TO NOT TRAVEL. HE NEEDS TO BE THERE FOR THE TREATMENTS EVERYDAY. AND HE HAS SEVERAL COMMITMENTS HE HAS ALREADY MADE INCLUDING THINGS LIKE THE GIVING PLEDGE THAT HE IS VERY ACTIVE WITH, AND SUN VALLEY WHICH TAKES PLACE AT THE BEGINNING OF JULY AND HE IS PLANNING ON KEEPING ALL OF THOSE COMMITMENTS THAT HE HAS MADE TO THAT POINT BEFORE HE SITS DOWN WITH HIS TREATMENTS. SO AGAIN, HE SAID HIS DOCTORS FEEL VERY COMFORTABLE WITH THAT DECISION, HE FEELS VERY COMFORTABLE WITH THAT DECISION. AND THIS SHOULDN’T CHANGE HIS DAILY ACTIVITIES IN ANY WAY ASIDE FROM THAT. THE ANNUAL SHAREHOLDERS MEETING IS COMING UP IN THREE WEEKS NOW, AND HE’S NOT GOING TO BE LETTING THE SHAREHOLDERS DOWN. IT SHOULD BE BUSINESS AS USUAL THERE. HE KEEPS UP A VERY INCREDIBLE SCHEDULE AND INCREDIBLE PACE AT THAT SHAREHOLDER MEETING AND HE EXPECTS IT TO BE THE SAME AS HE ALWAYS DOES, SAYS HE FEELS VERY GOOD ABOUT THESE THINGS. ASKING HIM WHAT ELSE HE’S TALKING ABOUT. I DID ASK HIM IF THE SUCCESSION PLAN IS CHANGING BECAUSE OF THIS SITUATION AND HE SAID NO. THERE IS NO CHANGES TO THE SUCCESSION PLAN. WHEN WE WERE OUT, CNBC WAS OUT SPEAKING WITH HIM, IN OMAHA, I GUESS IT WAS THE END OF FEBRUARY. WE WERE OUT FOR A LIVE SHOW AND ONE OF THE QUESTIONS WE ASKED HIM AT THAT POINT WAS DOES THE SUCCESSOR KNOW WHO HE IS. AND AT THAT POINT HE TOLD US NO. JUST A FEW MINUTES AGO, I ASKED HIM IF THE SUCCESSOR NOW KNOW WHO HE IS, HE SAID NO. THE SUCCESSOR STILL DOES NOT KNOW WHO HE IS. THE BOARD HAS SETTLED ON ONE PERSON WHO DOES NOT KNOW WHO HE IS. THERE ARE THREE PEOPLE THAT THEY COULD GO WITH, AND NONE OF THE THREE PEOPLE KNOW ANYTHING. AND AGAIN, THIS IS JUST BUSINESS AS USUAL. THERE IS NO CHANGE TO THE SUCCESSION PLAN AND THE BOARD IS VERY CONFIDENT AND KNOWS WHAT THEY WILL BE DOING IN THIS SITUATION.
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