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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 This material may not be published, broadcast, rewritten or redistributed.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 57 307 5,073
MORTGAGES 101 483 6,709
FORECLOSURE NOTICES 0 55 1,534
BUILDING PERMITS 0 720 11,979
BANKRUPTCIES 77 334 5,293
BUSINESS LICENSES 36 125 2,061
UTILITY CONNECTIONS 152 594 7,058
MARRIAGE LICENSES 0 81 1,422

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