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VOL. 127 | NO. 40 | Tuesday, February 28, 2012

Warren Buffett Says Plan to Replace Him Unchanged

JOSH FUNK | AP Business Writer

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OMAHA, Neb. (AP) – Billionaire investor Warren Buffett says Berkshire Hathaway's plan to replace him eventually hasn't really changed.

Buffett said on CNBC Monday that the new language he used to describe the succession plan in his annual letter to Berkshire shareholders wasn't a sign of change. The 81-year-old says he was trying to clarify the plan.

He said in his letter released Saturday that Berkshire's board had chosen someone to succeed him as CEO someday, and it has two backup candidates. Previously, Buffett had said only that the company had three internal candidates. None of them have been identified.

Buffett says the board has always had a preferred candidate and two backups

He says last year's departure of a top executive, David Sokol, did not affect the board's choice for successor.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 70 125 13,455
MORTGAGES 119 192 17,541
FORECLOSURE NOTICES 19 51 3,442
BUILDING PERMITS 0 623 31,553
BANKRUPTCIES 62 128 12,823
BUSINESS LICENSES 40 51 4,648
UTILITY CONNECTIONS 80 233 19,690
MARRIAGE LICENSES 25 69 4,129

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