Omaha steakhouse owner on what Warren Buffett does for business

A U.S. T-bone steak seen during a food-tasting event. The official materials given out by Berkshire Hathaway recommend a few restaurants in Omaha.

Warren Buffett attends a basketball game in Las Vegas, Nevada. Many Berkshire Hathaway investors are in Omaha this week for a meeting, and the official materials suggested a few restaurants in the area.

David Brancaccio: People are arriving in Omaha now for that "Woodstock of Capitalism," the annual meeting of Berkshire Hathaway, billionaire Warren Buffett's conglomerate. Perhaps 40,000 shareholders will watch Warren himself hold forth on investments -- and life. The official materials recommend two steakhouses for visiting shareholders.

Unfortunately for Alfi Cascio, his famous Cascio Steakhouse is not among the two. Mr. Cascio, good morning.

Alfie Cascio: Good morning, how are you today?

Brancaccio: I’m doing okay. Mr. Cascio, I understand that a certain brand X steakhouse that Mr. Buffett tells his fans to go to, is on some kind of list and you’re not on the list. How does that work?

Cascio: We’re not on this year so we were a little disappointed, I’m going to have to maybe call his secretary to try to get us back on next year.

Brancaccio: Who, Warren Buffett’s secretary?

Cascio: Yeah, Warren Buffett’s secretary, yes.

Brancaccio: You can call him and go hi, it’s Alfie down at the other steakhouse—

Cascio: -- yes

Brancaccio: What’s the deal?

Cascio: --yes, help us out.

Brancaccio: Are you taking this personally?

Cascio: No, no, no, no, no, not at all. We love Warren.

Brancaccio: So what’s the town like this weekend? Why don’t you sketch it out for me -- kind of busy?

Cascio: It’s a good atmosphere because I mean, they’re here and they’re spending money and most of them can afford it since they are stockholders of his company.

Brancaccio: Dare I assume though that this crowd tips pretty well or, what do you think?

Cascio: Well, truthfully, you get some in and some out you know. A lot of them have money because they save money so sometimes you’ll get, you know you only get a 8 or 10 percent tip but there’s a lot that we’ve had -- I remember last year we had a table of six, their bill was about $400 and he matched the bill so he gave her $400, so you get your pluses and you get some minuses but overall, it’s a good weekend for all the girls.

Brancaccio: Well Alfie Cascio, at Cascio’s Steak House in Omaha. Thank you very much.

Cascio: Thank you.

About the author

David Brancaccio is the host of Marketplace Morning Report. Follow David on Twitter @DavidBrancaccio

Warren Buffett attends a basketball game in Las Vegas, Nevada. Many Berkshire Hathaway investors are in Omaha this week for a meeting, and the official materials suggested a few restaurants in the area.

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