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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 This material may not be published, broadcast, rewritten or redistributed.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 73 391 11,120
MORTGAGES 88 481 13,903
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 198 969 24,034
BANKRUPTCIES 54 288 8,432
BUSINESS LICENSES 29 126 3,771
UTILITY CONNECTIONS 67 536 13,457
MARRIAGE LICENSES 17 103 3,031

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