DON WALTON / Lincoln Journal Star | Posted: Sunday, March 12, 2006 6:00 pm
Warren Buffett has agreed to oversee Tom Osborne’s proposed performance audit of state government agencies and programs if Osborne is elected governor.
In addition, the legendary Omaha investor is “willing to take a look at how the state handles its investments, including pension funds,” Osborne said Monday in a telephone interview.
Earlier at a joint news conference in Omaha, Buffett said he plans to temporarily change his party registration from Democratic to Republican so he can vote for Osborne in this May’s GOP primary election.
Osborne, the 3rd District congressman and former Nebraska football coach, is locked in a three-man struggle with Gov. Dave Heineman and Omaha businessman Dave Nabity for the Republican nomination.
Buffett, the billionaire investor and CEO of Berkshire Hathaway, would coordinate and review performance audits of state government, Osborne said.
“I would pick people from the private sector with some knowledge of (various areas of) state government to help do the audits,” he said.
“Warren would take a look at reports from the various committees. He would help sort out what might be done, what could be done adminstratively, what may require legislative action.
“Some recommendations might sound good,” Osborne said, “but may not be doable.”
Osborne has said he’d launch a private-sector review of state government agencies to identify potential efficiencies and savings. That, in turn, would allow Nebraska to control the growth of state spending and sustain reduced taxes, Osborne has argued.
“I talked to Warren several months ago,” he said, “and he told me he’d be glad to help. He said he’d do whatever he could. He would bring a lot to the table.”
Buffett told the news conference he believes outsiders can help bring a fresh perspective to the performance of state government agencies.
“Don’t ask the barber whether you need a haircut,” he said. “You don’t ask people to audit themselves. Self-graded exams are not the best in the world.”
Buffett has contributed $1,000 to Osborne’s campaign. That’s the maximum contribution Osborne is willing to accept.
Reach Don Walton at 473-7248 or at dwalton@journalstar.com.
(The Associated Press contributed to this report.)