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coin_in_fountain

11/13/07 8:48 PM

#903 RE: Cliffhucker #902

I'm going to stick with my statement that Rosier "is also Buffet's right hand man, one smart guy." He certainly is not the only guy that works for Buffet, but he definitely is the chief of one of Buffet's business units, so I think the title of "right hand man" is perfectly appropriate. (Buffet has a lot of "right hand" men.)

Read this, and you'll quickly realize the association between Buffet and Rosier is not something that I just dreamed up. Buffet seems to give Rosier a great deal of confidence in making business decisions:

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http://students.washington.edu/nwalcott/template/readings/WSJ.com%20-%20Warren%20Buffett,%20Unplugged.pdf

"Mr. Buffett tells the chiefs of his business units not to produce any special reports for him. When Berkshire
was acquiring wholesale food distributor McLane Co. in May 2003, for example, he told Chief Executive
Grady Rosier that whatever reports he was producing for its then-owner, Wal-Mart Stores Inc., would be
fine for Berkshire. Mr. Rosier says Mr. Buffett has never pushed for more detailed information. "Warren just
doesn't call," he says.

Mr. Rosier called Mr. Buffett recently to discuss two company jets. "Warren, I have two Learjets, a 1981
and a 1982," he says he told Mr. Buffett. "They are nearly 25 years old now, and I am thinking about getting
a new airplane. Is that an issue?"

"That is your decision," Mr. Rosier recalls Mr. Buffett
replying. "That is your company to run." Says Mr. Rosier:
"Wal-Mart left us alone, too. But not like this."

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http://phx.corporate-ir.net/phoenix.zhtml?c=80446&p=irol-govBio&ID=130389

W. Grady Rosier Director

President and CEO, McLane Company

W. Grady Rosier has served as President and Chief Executive Officer of McLane Company, Inc. for nearly 10 years during which time he has helped guide the evolution of the company into a leading distributor within the grocery and foodservice industry. Mr. Rosier, a 30-plus year operations management executive in the retail and distribution industries, joined McLane Company in 1984 as President, McLane/Sunwest and has since served in senior and executive management roles throughout the company’s value chain, including purchasing, distribution, marketing and customer service. In May 2003, McLane Company, which was a wholly owned subsidiary of Wal-Mart Stores, Inc., was acquired by Berkshire Hathaway Inc.

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You're right, I am not an insider. I just do my homework, and I do talk to investor relations frequently, which is probably something that 99% of the investors in this company don't do. I dig for as much information as I can, present it on these message boards, and then come to my own conclusions which you are free to accept or reject. I'm always looking for a good argument that disputes my conclusions, so feel free to challenge me with any facts/links that you might have. I'm usually fairly good at providing links whenever public information is available.

To tell you the truth I started writing on these message boards to document the facts I have found, for my own personal use. Posting my information and conclusions in public also allows others to challenge my thought process, which is good for everybody involved. Every once in a while somebody will find some flaw in my logic, which I usually gratefully acknowledge and accept, especially if it can be supported by a good link. Most of the time however I just run into a bunch of useless paid bashers, who really view me as the enemy, because they're afraid any good news I present is going to erode their monthly "performance bonuses". Earlier today one of the shorts tried to tell everybody that there should be a law against the insiders "popping up the stock price like this", I'm still laughing at that one.

I also agree with you that this stock is not going from $3 to $100 overnight, but the long term potential does exist. I also believe that any good news could initiate a serious short squeeze, given that somewhere in the area of 25% of the float is currently shorted. That's about a month's worth of normal trading. I can't wait.....