LYCOS RETRIEVER 
Warren Buffett: Business
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Buffett explained that in 1958, Sanborn sold at $45 per share when the value of the Sanborn investment portfolio was $65 per share. This meant buyers valued Sanborn at "minus $20" per share, and buyers were unwilling to pay more than 70 cents on the dollar for an investment portfolio with a map business thrown in for nothing.
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Maybe Mr Buffett's advisors hadn't heard of RSS and the fact that Business Wire has a customer (pissed-off) list--and that is all. A pissed-off customer list is not a defensible business model, (maybe he needed a fast depreciating asset for tax reasons?)
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In a letter to shareholders, Buffett announced that he was looking for a younger successor or perhaps successors to run his investment business.[24] Buffett had previously selected Lou Simpson, who runs investments at Geico, to fill that role. However, Simpson is only six years younger than Buffett.
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No less an authority than John F. Welch, CEO of General Electric Co., considers Buffett a superb judge of managerial talent. Buffett and Welch have gotten to know each other over the years as golf partners and as rivals in auto insurance and other businesses. ''Take 20 people you know quite well but Warren has just met casually,'' Welch says. ''If you ask Warren his opinion about them, he'll have each one nailed. He's a masterful evaluator of people, and that's the biggest job there is in running a company.''
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In the U.S., Buffett would likely be interested in consumer products like beer or candy companies, Tilson said. ``In places like Brazil or Israel or many parts of Europe, some enormously large attractive businesses are still private,'' he said.
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To create this powerhouse, Chief Executive Ronald J. Peltier has taken a page from Buffett's own value-investing playbook. Peltier typically buys four to six real estate chains a year, and like Buffett, he won't buy just anything with a "for sale" sign. He seeks out the No. 1 or No. 2 player in a region, and the firm's management team must be willing to stick around and keep running the show. Neither is he willing to pay a premium for these businesses, a value orientation that no doubt makes his boss in Omaha proud.
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