rogermunibond

http://www.longleafpartners.com/news/annual_presentation_09.cfm Video and transcript from May 7, 2009.

Live coverage from the hometown (Berkshire-owned) paper. http://www.omaha.com/index.php?u_page=1208&u_sid=10622671

http://www.bloomberg.com/apps/news?pid=20601087&sid=aRC2DR.cwZFs&refer=home Click on the Video tab. First set of interviews (Buffett, Gates, Sokol, Trott) is 21 minutes.

Because they need them and Astar to fly DHL international serving the U.S. Looks like any deal with UPS is dead.

A very good development for ATSG. Item 1.01. Entry into a Material Definitive Agreement On March 16, 2009, ABX Air, Inc. ("ABX"), a wholly-owned subsidiary of Air Transport Services Group, Inc. ("ATSG"), entered into a letter agreement (the "Letter Agreement") with DPWN Holdings (USA), Inc. and its subsidiaries (collectively, "DHL"), providing for the following: - ABX will make a principal payment in the amount of $15,000,000 under that certain Non-Negotiable Promissory Note, dated as of August 15, 2003, made by ABX in favor of Airborne, Inc. in the original principal amount of $92,948,714 and with a principal balance outstanding as of the date of the Letter Agreement of $92,275,656 (the "DHL Note"). As a result of such payment, the principal amount of the DHL Note will be reduced to $77,275,656. This payment will be made in cash concurrently with the receipt of cash from the "put" to DHL of certain Boeing 767 aircraft under the ACMI Service Agreement between DHL Network Operations (USA), Inc. and ABX, dated August 15, 2003 (the "ACMI Agreement"). - DHL will agree to amend the DHL Note to reduce the principal amount from $77,275,656 to $31,000,000 and to amend or eliminate various restrictive covenants in the DHL Note. Among other changes, the DHL Note will be revised to permit ATSG or its subsidiaries to purchase issued and outstanding shares of ATSG so long as ATSG concurrently prepays the DHL Note in the amount of $0.20 per dollar for each dollar that is expended by ATSG or its subsidiaries on such purchase of shares, and to permit ATSG to pay dividends to stockholders so long as ABX concurrently prepays the DHL Note in the amount of $0.20 per dollar for each dollar that ATSG pays to its stockholders. - ATSG will issue to DHL a written guarantee with respect to ABX's obligations under the DHL Note, as amended. - DHL will agree to continue to reimburse ABX for interest under the DHL Note, as amended, until the later to occur of December 31, 2012 or the date upon which ABX and its affiliates are no longer providing aircraft ACMI/leasing services to DHL and its affiliates involving five or more 767 aircraft in total. - DHL has agreed that it will not renew its previous demand for payment of the DHL Note arising out of the acquisition by ATSG of Cargo Holdings International Inc. and the financing of that transaction (the "CHI Acquisition"). Further, DHL agreed to release any claims it may have based upon the CHI Acquisition against ABX, ATSG and their affiliates. The parties have agreed to act in good faith in seeking to effectuate the terms of the Letter Agreement. ATSG anticipates that the transactions contemplated by the Letter Agreement will be completed prior to March 31, 2009.

There already is such a creature... https://www.irexshop.com/product_info.php?cPath=22_35&products_id=69&osCsid=da8958780eeee3476978a3f5a6055df7 Plus, there's Plastic Logic's product due out in 2010. That's the game changer IMO. http://www.plasticlogic.com/product.html

Bit of background on Elsztain. IRC Cresud has in the past few months increased its holding of IRSA so that it's reported on Cresud's books. From Business Week 1998 ENTREPRENEUR: EDUARDO ELSZTAIN (int'l edition) Eduardo Elsztain, a third-generation Argentine property developer, has a bargain hunter's eye and a long view of the opportunities created by Latin America's new economic model. Those talents have attracted backers willing to invest for the long term despite Argentina's ups and downs. In 1991, seeing that depressed Argentine property values would rise swiftly with the end of hyperinflation, Elsztain got George Soros to back him in buying control of real estate company Inversiones y Representaciones (IRSA). Since then, Elsztain, 38, has assembled $1 billion worth of properties under IRSA management. His projects, including a $400 million plan to build a waterfront financial center, are changing the face of Buenos Aires. And an agricultural real estate company, Cresud, which IRSA and Soros bought in 1994, has become Argentina's No.1 rural landowner and cattle raiser. IRSA, in which Elsztain owns less than 5%, is buffered against the global credit crunch by partners like Soros, who owns 17%. Last December, despite the Asian meltdown, IRSA raised $236 million by issuing new shares, 90% of them bought by existing shareholders.

Before they became professionalized as journalists aka keepers of a "civic trust," newspapermen or hacks twisted with the wind. They wrote stories that publishers would pay for and that the public wanted to read. If the stories meant that you portray hedge fund managers as gods then those were the stories you wrote. Why not? The times were good. Money was plentiful, and those with the most were the most interesting. But just as quickly, when the wind changes, hacks are perfectly happy to tear down those that they spent time building up. The mood has changed the former masters of the universe are vilified by the public. So what's a hack to do? Well you turn on your old masters. You get to write the story on the way up and on the way down. http://www.vanityfair.com/politics/features/2009/04/fortress-group200904?currentPage=1

http://www.sec.gov/Archives/edgar/data/1173334/000095013709001091/0000950137-09-001091-index.htm In addition to Horsehead, he added Cresud, Teck Cominco, Potash, Goldman, and Leucadia.

HOFFMAN ESTATES, Ill., Feb. 6 /PRNewswire-FirstCall/ -- Sears Holdings Corporation (Nasdaq: SHLD - News) announced today that the 2009 annual meeting of stockholders will be held at the Company's headquarters in Hoffman Estates, Ill., on Monday, May 4, 2009. In addition, the company announced that March 6, 2009 has been fixed as the record date for determination of the stockholders of the Company entitled to notice of and to vote at the annual meeting of stockholders. The company also announced that it currently plans to release financial results for its fiscal 2008 fourth quarter and full year on February 26, 2009, before the market opens. In addition, the company plans to file with the SEC its Annual Report on Form 10-K for the year ended January 31, 2009 on or before April 1, 2009.