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The Water Cooler
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Warren Buffett buys Tulsa World
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<blockquote data-quote="jej" data-source="post: 2117845" data-attributes="member: 5563"><p>Buffett's long time practice is that he buys businesses that he likes and leaves existing management in place. A large percentage of his buys are family owned and run businesses that must sell for estate planning purposes. You know - the business is worth $$$, the family has not got 50% of $$$ to pay the estate tax when the owner dies, so they sell. Buffett's support for high estate taxes is cynical good business.</p><p></p><p>I expect that Buffett's plan is to leave the Lortons in place.</p></blockquote><p></p>
[QUOTE="jej, post: 2117845, member: 5563"] Buffett's long time practice is that he buys businesses that he likes and leaves existing management in place. A large percentage of his buys are family owned and run businesses that must sell for estate planning purposes. You know - the business is worth $$$, the family has not got 50% of $$$ to pay the estate tax when the owner dies, so they sell. Buffett's support for high estate taxes is cynical good business. I expect that Buffett's plan is to leave the Lortons in place. [/QUOTE]
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Warren Buffett buys Tulsa World
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