Subject: Re: Use up all our cash and some?
There remains the minor point of what's available to buy that's big enough to soak up that much cash and borrowing?

Among private US companies there are only Cargill and Mars. Among non-US companies there's the issue of different legal systems and government involvement. And really big guys would probably want stock, not cash. In the stock market, he doesn't do hostile takeovers and they would also want stock to minimize tax hits.

I don't have any suggestions - does anyone?

Just curious why you restrict your U.S. survey to private companies. Weren't the last three elephants -- BNSF, Lubrizol and Precision Castparts -- all public companies?

Given your background in the energy business, what do you think of the idea that Mr. Buffett and/or Greg Abel might pursue an elephant or two for BHE, particularly mid-stream companies with irreplaceable infrastructure assets carrying high debt loads made more problematic by the sudden rise in interest rates?