Omaha steakhouse owner on what Warren Buffett does for business
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.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.