<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/83207e2b-b0aa-4c47-ac05-c34eaa8dfb82/C7274AF0-0FF2-43D2-93AA-00F1072E332C/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.washingtonpost.com/wp-dyn/content/article/2007/03/02/AR2007030201278_pf.html" href="http://www.washingtonpost.com/wp-dyn/content/article/2007/03/02/AR2007030201278_pf.html" style="font-size: 11px;">www.washingtonpost.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.washingtonpost.com/wp-dyn/content/article/2007/03/02/AR2007030201278_pf.html"><B>Buffett Pessimistic About Newspapers</B></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.washingtonpost.com/wp-dyn/content/article/2007/03/02/AR2007030201278_pf.html"><P><FONT size="-1">By Frank Ahrens<BR />Washington Post Staff Writer<BR />Saturday, March 3, 2007; D05<BR /></FONT></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.washingtonpost.com/wp-dyn/content/article/2007/03/02/AR2007030201278_pf.html"><P>In his <A target="" href="http://www.berkshirehathaway.com/letters/2006.html">annual letter</A> to his company's shareholders, <A target="" href="http://www.forbes.com/lists/2006/10/C0R3.html">Warren E. Buffett</A>-- the world's second-richest person and the largest shareholder of The <A target="" href="http://financial.washingtonpost.com/custom/wpost/html-qcn.asp?dispnav=business&mwpage=qcn&symb=WPO&nav=el">Washington Post Co.</A> -- wrote that "fundamentals are definitely eroding in the newspaper industry" and warned that "the skid will almost certainly continue."</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.washingtonpost.com/wp-dyn/content/article/2007/03/02/AR2007030201278_pf.html"><P>Written in its typical folksy style, the letter is Buffett's 2006 overview of his company, Berkshire Hathaway, and its many holdings, which include Geico insurance, manufacturing units and utilities.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.washingtonpost.com/wp-dyn/content/article/2007/03/02/AR2007030201278_pf.html"><P>The company reported a $17 billion gain in net worth -- 18 percent growth -- in 2006, largely because "Mother Nature, bless her heart, went on vacation," Buffett wrote. His insurance companies made huge payouts after the hurricanes of 2004 and 2005.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/C7274AF0-0FF2-43D2-93AA-00F1072E332C/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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