id sid tid token lemma pos cblr-1731 1 1 microsoft microsoft PROPN cblr-1731 1 2 word word NOUN cblr-1731 1 3 1_2016.1_cunningham_final4 1_2016.1_cunningham_final4 NUM cblr-1731 1 4 cunningham cunningham PROPN cblr-1731 1 5 – – PUNCT cblr-1731 1 6 final final ADJ cblr-1731 1 7 berkshire berkshire NOUN cblr-1731 1 8 ’s ’s PART cblr-1731 1 9 blemishes blemish NOUN cblr-1731 1 10 : : PUNCT cblr-1731 1 11 lessons lesson NOUN cblr-1731 1 12 for for ADP cblr-1731 1 13 buffett buffett PROPN cblr-1731 1 14 ’s ’s PART cblr-1731 1 15 successors successor NOUN cblr-1731 1 16 , , PUNCT cblr-1731 1 17 peers peer NOUN cblr-1731 1 18 , , PUNCT cblr-1731 1 19 and and CCONJ cblr-1731 1 20 policy policy NOUN cblr-1731 1 21 lawrence lawrence PROPN cblr-1731 1 22 a. a. PROPN cblr-1731 1 23 cunningham cunningham PROPN cblr-1731 1 24 berkshire berkshire PROPN cblr-1731 1 25 hathaway hathaway PROPN cblr-1731 1 26 ’s ’s PART cblr-1731 1 27 unique unique ADJ cblr-1731 1 28 managerial managerial ADJ cblr-1731 1 29 model model NOUN cblr-1731 1 30 is be AUX cblr-1731 1 31 lauded laud VERB cblr-1731 1 32 for for ADP cblr-1731 1 33 its its PRON cblr-1731 1 34 great great ADJ cblr-1731 1 35 value value NOUN cblr-1731 1 36 ; ; PUNCT cblr-1731 1 37 this this DET cblr-1731 1 38 article article NOUN cblr-1731 1 39 highlights highlight VERB cblr-1731 1 40 its its PRON cblr-1731 1 41 costs cost NOUN cblr-1731 1 42 . . PUNCT cblr-1731 2 1 most most ADJ cblr-1731 2 2 costs cost NOUN cblr-1731 2 3 stem stem VERB cblr-1731 2 4 from from ADP cblr-1731 2 5 the the DET cblr-1731 2 6 same same ADJ cblr-1731 2 7 features feature NOUN cblr-1731 2 8 that that PRON cblr-1731 2 9 yield yield VERB cblr-1731 2 10 such such ADJ cblr-1731 2 11 great great ADJ cblr-1731 2 12 value value NOUN cblr-1731 2 13 , , PUNCT cblr-1731 2 14 which which PRON cblr-1731 2 15 boil boil VERB cblr-1731 2 16 down down ADP cblr-1731 2 17 , , PUNCT cblr-1731 2 18 ironically ironically ADV cblr-1731 2 19 , , PUNCT cblr-1731 2 20 to to PART cblr-1731 2 21 berkshire berkshire VERB cblr-1731 2 22 trying try VERB cblr-1731 2 23 to to PART cblr-1731 2 24 be be AUX cblr-1731 2 25 something something PRON cblr-1731 2 26 it it PRON cblr-1731 2 27 is be AUX cblr-1731 2 28 n’t n’t ADJ cblr-1731 2 29 : : PUNCT cblr-1731 2 30 it it PRON cblr-1731 2 31 is be AUX cblr-1731 2 32 a a DET cblr-1731 2 33 massive massive ADJ cblr-1731 2 34 industrial industrial ADJ cblr-1731 2 35 conglomerate conglomerate NOUN cblr-1731 2 36 run run VERB cblr-1731 2 37 as as ADP cblr-1731 2 38 an an DET cblr-1731 2 39 old old ADJ cblr-1731 2 40 - - PUNCT cblr-1731 2 41 fashioned fashioned ADJ cblr-1731 2 42 investment investment NOUN cblr-1731 2 43 partnership partnership NOUN cblr-1731 2 44 . . PUNCT cblr-1731 3 1 an an DET cblr-1731 3 2 advisory advisory ADJ cblr-1731 3 3 board board NOUN cblr-1731 3 4 gives give VERB cblr-1731 3 5 unchecked unchecked ADJ cblr-1731 3 6 power power NOUN cblr-1731 3 7 to to ADP cblr-1731 3 8 a a DET cblr-1731 3 9 single single ADJ cblr-1731 3 10 manager manager NOUN cblr-1731 3 11 ( ( PUNCT cblr-1731 3 12 warren warren PROPN cblr-1731 3 13 buffett buffett PROPN cblr-1731 3 14 ) ) PUNCT cblr-1731 3 15 ; ; PUNCT cblr-1731 3 16 buffett buffett PROPN cblr-1731 3 17 makes make VERB cblr-1731 3 18 huge huge ADJ cblr-1731 3 19 capital capital NOUN cblr-1731 3 20 allocations allocation NOUN cblr-1731 3 21 and and CCONJ cblr-1731 3 22 pivotal pivotal ADJ cblr-1731 3 23 executive executive ADJ cblr-1731 3 24 hiring hiring NOUN cblr-1731 3 25 - - PUNCT cblr-1731 3 26 and and CCONJ cblr-1731 3 27 - - PUNCT cblr-1731 3 28 firing firing NOUN cblr-1731 3 29 decisions decision NOUN cblr-1731 3 30 with with ADP cblr-1731 3 31 modest modest ADJ cblr-1731 3 32 investigation investigation NOUN cblr-1731 3 33 and and CCONJ cblr-1731 3 34 scant scant ADJ cblr-1731 3 35 oversight oversight NOUN cblr-1731 3 36 ; ; PUNCT cblr-1731 3 37 berkshire berkshire PROPN cblr-1731 3 38 ’s ’s PART cblr-1731 3 39 autonomous autonomous ADJ cblr-1731 3 40 and and CCONJ cblr-1731 3 41 decentralized decentralized ADJ cblr-1731 3 42 structure structure NOUN cblr-1731 3 43 grants grant NOUN cblr-1731 3 44 operating operating NOUN cblr-1731 3 45 managers manager NOUN cblr-1731 3 46 enormous enormous ADJ cblr-1731 3 47 discretion discretion NOUN cblr-1731 3 48 with with ADP cblr-1731 3 49 limited limited ADJ cblr-1731 3 50 second second ADV cblr-1731 3 51 - - PUNCT cblr-1731 3 52 guessing guessing NOUN cblr-1731 3 53 ; ; PUNCT cblr-1731 3 54 its its PRON cblr-1731 3 55 trustbased trustbase VERB cblr-1731 3 56 culture culture NOUN cblr-1731 3 57 relies rely VERB cblr-1731 3 58 on on ADP cblr-1731 3 59 a a DET cblr-1731 3 60 cultivated cultivate VERB cblr-1731 3 61 vision vision NOUN cblr-1731 3 62 of of ADP cblr-1731 3 63 integrity integrity NOUN cblr-1731 3 64 more more ADJ cblr-1731 3 65 than than ADP cblr-1731 3 66 internal internal ADJ cblr-1731 3 67 controls control NOUN cblr-1731 3 68 ; ; PUNCT cblr-1731 3 69 and and CCONJ cblr-1731 3 70 its its PRON cblr-1731 3 71 thrifty thrifty ADJ cblr-1731 3 72 anti anti ADJ cblr-1731 3 73 - - ADJ cblr-1731 3 74 bureaucracy bureaucracy NOUN cblr-1731 3 75 means mean VERB cblr-1731 3 76 no no DET cblr-1731 3 77 central central ADJ cblr-1731 3 78 departments department NOUN cblr-1731 3 79 , , PUNCT cblr-1731 3 80 such such ADJ cblr-1731 3 81 as as ADP cblr-1731 3 82 public public ADJ cblr-1731 3 83 relations relation NOUN cblr-1731 3 84 or or CCONJ cblr-1731 3 85 general general ADJ cblr-1731 3 86 counsel counsel NOUN cblr-1731 3 87 . . PUNCT cblr-1731 4 1 delineating delineate VERB cblr-1731 4 2 the the DET cblr-1731 4 3 visible visible ADJ cblr-1731 4 4 costs cost NOUN cblr-1731 4 5 of of ADP cblr-1731 4 6 berkshire berkshire NOUN cblr-1731 4 7 ’s ’s PART cblr-1731 4 8 model model NOUN cblr-1731 4 9 confirms confirm VERB cblr-1731 4 10 the the DET cblr-1731 4 11 desirability desirability NOUN cblr-1731 4 12 of of ADP cblr-1731 4 13 tolerating tolerate VERB cblr-1731 4 14 many many ADJ cblr-1731 4 15 of of ADP cblr-1731 4 16 them they PRON cblr-1731 4 17 , , PUNCT cblr-1731 4 18 given give VERB cblr-1731 4 19 the the DET cblr-1731 4 20 value value NOUN cblr-1731 4 21 concurrently concurrently ADV cblr-1731 4 22 generated generate VERB cblr-1731 4 23 , , PUNCT cblr-1731 4 24 but but CCONJ cblr-1731 4 25 also also ADV cblr-1731 4 26 reveals reveal VERB cblr-1731 4 27 ways way NOUN cblr-1731 4 28 to to PART cblr-1731 4 29 improve improve VERB cblr-1731 4 30 the the DET cblr-1731 4 31 model model NOUN cblr-1731 4 32 — — PUNCT cblr-1731 4 33 a a DET cblr-1731 4 34 few few ADJ cblr-1731 4 35 while while NOUN cblr-1731 4 36 buffett buffett PROPN cblr-1731 4 37 is be AUX cblr-1731 4 38 at at ADP cblr-1731 4 39 the the DET cblr-1731 4 40 helm helm NOUN cblr-1731 4 41 , , PUNCT cblr-1731 4 42 but but CCONJ cblr-1731 4 43 mostly mostly ADV cblr-1731 4 44 for for ADP cblr-1731 4 45 successors successor NOUN cblr-1731 4 46 . . PUNCT cblr-1731 5 1 current current ADJ cblr-1731 5 2 reform reform NOUN cblr-1731 5 3 suggestions suggestion NOUN cblr-1731 5 4 include include VERB cblr-1731 5 5 hiring hire VERB cblr-1731 5 6 a a DET cblr-1731 5 7 fulltime fulltime ADJ cblr-1731 5 8 public public ADJ cblr-1731 5 9 relations relation NOUN cblr-1731 5 10 professional professional ADJ cblr-1731 5 11 at at ADP cblr-1731 5 12 headquarters headquarters NOUN cblr-1731 5 13 and and CCONJ cblr-1731 5 14 more more ADV cblr-1731 5 15 systematically systematically ADV cblr-1731 5 16 developing develop VERB cblr-1731 5 17 senior senior ADJ cblr-1731 5 18 executives executive NOUN cblr-1731 5 19 ; ; PUNCT cblr-1731 5 20 suggestions suggestion NOUN cblr-1731 5 21 for for ADP cblr-1731 5 22 future future ADJ cblr-1731 5 23 reform reform NOUN cblr-1731 5 24 include include VERB cblr-1731 5 25 enhanced enhance VERB cblr-1731 5 26 subsidiary subsidiary NOUN cblr-1731 5 27 compliance compliance NOUN cblr-1731 5 28   PROPN cblr-1731 6 1 © © PROPN cblr-1731 6 2 2016 2016 NUM cblr-1731 6 3 . . PUNCT cblr-1731 7 1 all all DET cblr-1731 7 2 rights right NOUN cblr-1731 7 3 reserved reserve VERB cblr-1731 7 4 by by ADP cblr-1731 7 5 lawrence lawrence PROPN cblr-1731 7 6 a. a. PROPN cblr-1731 7 7 cunningham cunningham PROPN cblr-1731 7 8 , , PUNCT cblr-1731 7 9 henry henry PROPN cblr-1731 7 10 st st PROPN cblr-1731 7 11 . . PROPN cblr-1731 7 12 george george PROPN cblr-1731 7 13 tucker tucker PROPN cblr-1731 7 14 iii iii PROPN cblr-1731 7 15 research research PROPN cblr-1731 7 16 professor professor NOUN cblr-1731 7 17 , , PUNCT cblr-1731 7 18 george george PROPN cblr-1731 7 19 washington washington PROPN cblr-1731 7 20 university university PROPN cblr-1731 7 21 . . PUNCT cblr-1731 8 1 thanks thank NOUN cblr-1731 8 2 for for ADP cblr-1731 8 3 comments comment NOUN cblr-1731 8 4 to to ADP cblr-1731 8 5 stephanie stephanie PROPN cblr-1731 8 6 cuba cuba PROPN cblr-1731 8 7 , , PUNCT cblr-1731 8 8 anupreeta anupreeta PROPN cblr-1731 8 9 das das PROPN cblr-1731 8 10 , , PUNCT cblr-1731 8 11 chris chris PROPN cblr-1731 8 12 goulakos goulakos PROPN cblr-1731 8 13 , , PUNCT cblr-1731 8 14 brian brian PROPN cblr-1731 8 15 tayan tayan PROPN cblr-1731 8 16 , , PUNCT cblr-1731 8 17 and and CCONJ cblr-1731 8 18 jason jason PROPN cblr-1731 8 19 zweig zweig PROPN cblr-1731 8 20 ; ; PUNCT cblr-1731 8 21 for for ADP cblr-1731 8 22 research research NOUN cblr-1731 8 23 assistance assistance NOUN cblr-1731 8 24 to to ADP cblr-1731 8 25 gia gia PROPN cblr-1731 8 26 arney arney NOUN cblr-1731 8 27 ; ; PUNCT cblr-1731 8 28 and and CCONJ cblr-1731 8 29 to to ADP cblr-1731 8 30 the the DET cblr-1731 8 31 audience audience NOUN cblr-1731 8 32 at at ADP cblr-1731 8 33 the the DET cblr-1731 8 34 museum museum NOUN cblr-1731 8 35 of of ADP cblr-1731 8 36 american american ADJ cblr-1731 8 37 finance finance NOUN cblr-1731 8 38 where where SCONJ cblr-1731 8 39 i i PRON cblr-1731 8 40 delivered deliver VERB cblr-1731 8 41 this this DET cblr-1731 8 42 paper paper NOUN cblr-1731 8 43 as as ADP cblr-1731 8 44 the the DET cblr-1731 8 45 keynote keynote ADJ cblr-1731 8 46 address address NOUN cblr-1731 8 47 for for ADP cblr-1731 8 48 its its PRON cblr-1731 8 49 symposium symposium NOUN cblr-1731 8 50 on on ADP cblr-1731 8 51 the the DET cblr-1731 8 52 fiftieth fiftieth ADJ cblr-1731 8 53 anniversary anniversary NOUN cblr-1731 8 54 of of ADP cblr-1731 8 55 warren warren PROPN cblr-1731 8 56 buffett buffett PROPN cblr-1731 8 57 ’s ’s PART cblr-1731 8 58 berkshire berkshire PROPN cblr-1731 8 59 hathaway hathaway PROPN cblr-1731 8 60 . . PUNCT cblr-1731 9 1 cunningham cunningham PROPN cblr-1731 9 2 – – PUNCT cblr-1731 9 3 final final ADJ cblr-1731 9 4 2 2 NUM cblr-1731 9 5 columbia columbia PROPN cblr-1731 9 6 business business NOUN cblr-1731 9 7 law law PROPN cblr-1731 9 8 review review NOUN cblr-1731 10 1 [ [ X cblr-1731 10 2 vol vol NOUN cblr-1731 10 3 . . NOUN cblr-1731 10 4 2016 2016 NUM cblr-1731 10 5 resources resource NOUN cblr-1731 10 6 and and CCONJ cblr-1731 10 7 separating separate VERB cblr-1731 10 8 the the DET cblr-1731 10 9 identity identity NOUN cblr-1731 10 10 and and CCONJ cblr-1731 10 11 personal personal ADJ cblr-1731 10 12 opinions opinion NOUN cblr-1731 10 13 of of ADP cblr-1731 10 14 top top ADJ cblr-1731 10 15 executives executive NOUN cblr-1731 10 16 from from ADP cblr-1731 10 17 the the DET cblr-1731 10 18 corporation corporation NOUN cblr-1731 10 19 and and CCONJ cblr-1731 10 20 its its PRON cblr-1731 10 21 official official ADJ cblr-1731 10 22 policy policy NOUN cblr-1731 10 23 . . PUNCT cblr-1731 11 1 besides besides SCONJ cblr-1731 11 2 helping help VERB cblr-1731 11 3 berkshire berkshire NOUN cblr-1731 11 4 , , PUNCT cblr-1731 11 5 the the DET cblr-1731 11 6 review review NOUN cblr-1731 11 7 and and CCONJ cblr-1731 11 8 suggestions suggestion NOUN cblr-1731 11 9 will will AUX cblr-1731 11 10 help help VERB cblr-1731 11 11 managers manager NOUN cblr-1731 11 12 of of ADP cblr-1731 11 13 other other ADJ cblr-1731 11 14 companies company NOUN cblr-1731 11 15 inspired inspire VERB cblr-1731 11 16 by by ADP cblr-1731 11 17 buffett buffett PROPN cblr-1731 11 18 ’s ’s PART cblr-1731 11 19 unique unique ADJ cblr-1731 11 20 managerial managerial ADJ cblr-1731 11 21 model model NOUN cblr-1731 11 22 and and CCONJ cblr-1731 11 23 policymakers policymaker NOUN cblr-1731 11 24 who who PRON cblr-1731 11 25 should should AUX cblr-1731 11 26 study study VERB cblr-1731 11 27 it it PRON cblr-1731 11 28 . . PUNCT cblr-1731 12 1 implications implication NOUN cblr-1731 12 2 for for ADP cblr-1731 12 3 peers peer NOUN cblr-1731 12 4 and and CCONJ cblr-1731 12 5 policymakers policymaker NOUN cblr-1731 12 6 include include VERB cblr-1731 12 7 highlighting highlight VERB cblr-1731 12 8 flexibility flexibility NOUN cblr-1731 12 9 in in ADP cblr-1731 12 10 corporate corporate ADJ cblr-1731 12 11 governance governance NOUN cblr-1731 12 12 , , PUNCT cblr-1731 12 13 the the DET cblr-1731 12 14 efficacy efficacy NOUN cblr-1731 12 15 of of ADP cblr-1731 12 16 the the DET cblr-1731 12 17 conglomerate conglomerate NOUN cblr-1731 12 18 form form NOUN cblr-1731 12 19 , , PUNCT cblr-1731 12 20 and and CCONJ cblr-1731 12 21 especially especially ADV cblr-1731 12 22 the the DET cblr-1731 12 23 value value NOUN cblr-1731 12 24 of of ADP cblr-1731 12 25 strategies strategy NOUN cblr-1731 12 26 that that PRON cblr-1731 12 27 produce produce VERB cblr-1731 12 28 long long ADJ cblr-1731 12 29 - - PUNCT cblr-1731 12 30 term term NOUN cblr-1731 12 31 thinking thinking NOUN cblr-1731 12 32 among among ADP cblr-1731 12 33 shareholders shareholder NOUN cblr-1731 12 34 and and CCONJ cblr-1731 12 35 managers manager NOUN cblr-1731 12 36 alike alike ADV cblr-1731 12 37 . . PUNCT cblr-1731 13 1 i. i. PROPN cblr-1731 13 2     SPACE cblr-1731 13 3 introduction introduction NOUN cblr-1731 13 4 .................................................................... .................................................................... PUNCT cblr-1731 13 5 3 3 NUM cblr-1731 13 6     SPACE cblr-1731 13 7 ii ii NOUN cblr-1731 13 8 . . PUNCT cblr-1731 13 9     SPACE cblr-1731 13 10 issues issue NOUN cblr-1731 13 11 and and CCONJ cblr-1731 13 12 lessons lesson NOUN cblr-1731 13 13 for for ADP cblr-1731 13 14 berkshire berkshire NOUN cblr-1731 13 15 .................................. .................................. PUNCT cblr-1731 13 16 7 7 NUM cblr-1731 13 17     SPACE cblr-1731 13 18 table table NOUN cblr-1731 13 19 1 1 NUM cblr-1731 13 20 : : PUNCT cblr-1731 13 21 costs cost NOUN cblr-1731 13 22 of of ADP cblr-1731 13 23 berkshire berkshire NOUN cblr-1731 13 24 ’s ’s PART cblr-1731 13 25 blemishes blemish NOUN cblr-1731 13 26 vs. vs. ADP cblr-1731 13 27 modest modest ADJ cblr-1731 13 28 prescriptions prescription NOUN cblr-1731 13 29 ............................................................ ............................................................ PUNCT cblr-1731 13 30 8 8 NUM cblr-1731 13 31     SPACE cblr-1731 13 32 a. a. NOUN cblr-1731 13 33     SPACE cblr-1731 13 34 error error NOUN cblr-1731 13 35 risks risk NOUN cblr-1731 13 36 of of ADP cblr-1731 13 37 self self NOUN cblr-1731 13 38 - - PUNCT cblr-1731 13 39 reliance reliance NOUN cblr-1731 13 40 in in ADP cblr-1731 13 41 capital capital NOUN cblr-1731 13 42 allocation allocation NOUN cblr-1731 13 43 ................................................................. ................................................................. PUNCT cblr-1731 13 44 9 9 NUM cblr-1731 13 45     SPACE cblr-1731 13 46 b. b. NOUN cblr-1731 13 47     SPACE cblr-1731 13 48 crisis crisis NOUN cblr-1731 13 49 costs cost NOUN cblr-1731 13 50 in in ADP cblr-1731 13 51 severing sever VERB cblr-1731 13 52 autonomous autonomous ADJ cblr-1731 13 53 executives executive NOUN cblr-1731 13 54 .............................................................. .............................................................. PUNCT cblr-1731 14 1 14 14 NUM cblr-1731 14 2     SPACE cblr-1731 14 3 c. c. NOUN cblr-1731 14 4     SPACE cblr-1731 14 5 externalities externality NOUN cblr-1731 14 6 of of ADP cblr-1731 14 7 decentralization decentralization NOUN cblr-1731 14 8 : : PUNCT cblr-1731 14 9 consumers consumer NOUN cblr-1731 14 10 / / SYM cblr-1731 14 11 workers worker NOUN cblr-1731 14 12 .............................................. .............................................. PUNCT cblr-1731 14 13 18 18 NUM cblr-1731 14 14     SPACE cblr-1731 14 15 d. d. NOUN cblr-1731 14 16     SPACE cblr-1731 14 17 reputation reputation NOUN cblr-1731 14 18 risks risk NOUN cblr-1731 14 19 of of ADP cblr-1731 14 20 skimping skimp VERB cblr-1731 14 21 on on ADP cblr-1731 14 22 public public ADJ cblr-1731 14 23 relations relation NOUN cblr-1731 14 24 ................................................................ ................................................................ PUNCT cblr-1731 14 25 23 23 NUM cblr-1731 14 26     SPACE cblr-1731 14 27 e. e. PROPN cblr-1731 14 28     SPACE cblr-1731 14 29 hypocrisy hypocrisy NOUN cblr-1731 14 30 charges charge NOUN cblr-1731 14 31 and and CCONJ cblr-1731 14 32 uncertainty uncertainty NOUN cblr-1731 14 33 due due ADJ cblr-1731 14 34 to to PART cblr-1731 14 35 alter alter VERB cblr-1731 14 36 ego ego NOUN cblr-1731 14 37 ................................................................ ................................................................ PUNCT cblr-1731 14 38 34 34 NUM cblr-1731 14 39     SPACE cblr-1731 14 40 f. f. PROPN cblr-1731 14 41     SPACE cblr-1731 14 42 miscellaneous miscellaneous ADJ cblr-1731 14 43 : : PUNCT cblr-1731 14 44 public public ADJ cblr-1731 14 45 family family NOUN cblr-1731 14 46 firms firm NOUN cblr-1731 14 47 and and CCONJ cblr-1731 14 48 the the DET cblr-1731 14 49 tenure tenure NOUN cblr-1731 14 50 myth myth NOUN cblr-1731 14 51 .......................................................... .......................................................... PUNCT cblr-1731 14 52 39 39 NUM cblr-1731 14 53     SPACE cblr-1731 14 54 g. g. NOUN cblr-1731 14 55     SPACE cblr-1731 14 56 coda coda NOUN cblr-1731 14 57 : : PUNCT cblr-1731 14 58 partnership partnership NOUN cblr-1731 14 59 manqué manqué PROPN cblr-1731 14 60 ................................... ................................... PUNCT cblr-1731 14 61 42 42 NUM cblr-1731 14 62     SPACE cblr-1731 14 63 iii iii NOUN cblr-1731 14 64 . . PUNCT cblr-1731 14 65     SPACE cblr-1731 14 66 implications implication NOUN cblr-1731 14 67 for for ADP cblr-1731 14 68 peers peer NOUN cblr-1731 14 69 and and CCONJ cblr-1731 14 70 policy policy NOUN cblr-1731 14 71 ................................ ................................ PUNCT cblr-1731 14 72 43 43 NUM cblr-1731 14 73     SPACE cblr-1731 14 74 table table NOUN cblr-1731 14 75 2 2 NUM cblr-1731 14 76 : : PUNCT cblr-1731 14 77 value value NOUN cblr-1731 14 78 of of ADP cblr-1731 14 79 berkshire berkshire NOUN cblr-1731 14 80 ’s ’s PART cblr-1731 14 81 practices practice NOUN cblr-1731 14 82 vs. vs. ADP cblr-1731 14 83 corporate corporate PROPN cblr-1731 14 84 america america PROPN cblr-1731 14 85 ................................................. ................................................. PUNCT cblr-1731 15 1 43 43 NUM cblr-1731 15 2     SPACE cblr-1731 15 3 a. a. NOUN cblr-1731 15 4     SPACE cblr-1731 15 5 governance governance NOUN cblr-1731 15 6 and and CCONJ cblr-1731 15 7 culture culture NOUN cblr-1731 15 8 ....................................... ....................................... PUNCT cblr-1731 16 1 45 45 NUM cblr-1731 16 2     SPACE cblr-1731 16 3 1 1 NUM cblr-1731 16 4 . . PUNCT cblr-1731 16 5     SPACE cblr-1731 16 6 board board NOUN cblr-1731 16 7 role role NOUN cblr-1731 16 8 ......................................................... ......................................................... PUNCT cblr-1731 17 1 45 45 NUM cblr-1731 17 2     SPACE cblr-1731 17 3 2 2 NUM cblr-1731 17 4 . . PUNCT cblr-1731 17 5     SPACE cblr-1731 17 6 ceo ceo NOUN cblr-1731 17 7 power power NOUN cblr-1731 17 8 ........................................................ ........................................................ PUNCT cblr-1731 17 9 46 46 NUM cblr-1731 17 10     SPACE cblr-1731 17 11 3 3 NUM cblr-1731 17 12 . . PUNCT cblr-1731 17 13     SPACE cblr-1731 17 14 control control NOUN cblr-1731 17 15 versus versus ADP cblr-1731 17 16 trust trust PROPN cblr-1731 17 17 ........................................ ........................................ PUNCT cblr-1731 18 1 47 47 NUM cblr-1731 18 2     SPACE cblr-1731 18 3 b. b. NOUN cblr-1731 18 4     SPACE cblr-1731 18 5 the the DET cblr-1731 18 6 conglomerate conglomerate NOUN cblr-1731 18 7 form form NOUN cblr-1731 18 8 ........................................ ........................................ PUNCT cblr-1731 18 9 49 49 NUM cblr-1731 18 10     SPACE cblr-1731 18 11 c. c. NOUN cblr-1731 18 12     SPACE cblr-1731 18 13 activism activism NOUN cblr-1731 18 14 , , PUNCT cblr-1731 18 15 hostility hostility NOUN cblr-1731 18 16 , , PUNCT cblr-1731 18 17 and and CCONJ cblr-1731 18 18 defense defense NOUN cblr-1731 18 19 .......................... .......................... PUNCT cblr-1731 18 20 54 54 NUM cblr-1731 18 21     SPACE cblr-1731 18 22 d. d. PROPN cblr-1731 18 23     SPACE cblr-1731 18 24 emulation emulation NOUN cblr-1731 18 25 ............................................................... ............................................................... PUNCT cblr-1731 18 26 58 58 NUM cblr-1731 18 27     SPACE cblr-1731 18 28 iv iv NUM cblr-1731 18 29 . . PUNCT cblr-1731 18 30     SPACE cblr-1731 18 31 conclusion conclusion NOUN cblr-1731 18 32 .................................................................... .................................................................... PUNCT cblr-1731 18 33 59 59 NUM cblr-1731 18 34     SPACE cblr-1731 18 35 cunningham cunningham PROPN cblr-1731 18 36 – – PUNCT cblr-1731 18 37 final final ADJ cblr-1731 18 38 no no NOUN cblr-1731 18 39 . . NOUN cblr-1731 18 40 1:1 1:1 NUM cblr-1731 18 41 ] ] PUNCT cblr-1731 18 42 berkshire berkshire PROPN cblr-1731 18 43 ’s ’s PART cblr-1731 18 44 blemishes blemish NOUN cblr-1731 18 45 3 3 NUM cblr-1731 18 46 “ " PUNCT cblr-1731 18 47 we we PRON cblr-1731 18 48 would would AUX cblr-1731 18 49 rather rather ADV cblr-1731 18 50 suffer suffer VERB cblr-1731 18 51 the the DET cblr-1731 18 52 visible visible ADJ cblr-1731 18 53 costs cost NOUN cblr-1731 18 54 of of ADP cblr-1731 18 55 a a DET cblr-1731 18 56 few few ADJ cblr-1731 18 57 bad bad ADJ cblr-1731 18 58 decisions decision NOUN cblr-1731 18 59 than than SCONJ cblr-1731 18 60 incur incur VERB cblr-1731 18 61 the the DET cblr-1731 18 62 many many ADJ cblr-1731 18 63 invisible invisible ADJ cblr-1731 18 64 costs cost NOUN cblr-1731 18 65 that that PRON cblr-1731 18 66 come come VERB cblr-1731 18 67 from from ADP cblr-1731 18 68 decisions decision NOUN cblr-1731 18 69 made make VERB cblr-1731 18 70 too too ADV cblr-1731 18 71 slowly slowly ADV cblr-1731 18 72 — — PUNCT cblr-1731 18 73 or or CCONJ cblr-1731 18 74 not not PART cblr-1731 18 75 at at ADV cblr-1731 18 76 all all ADV cblr-1731 18 77 — — PUNCT cblr-1731 18 78 because because SCONJ cblr-1731 18 79 of of ADP cblr-1731 18 80 a a DET cblr-1731 18 81 stifling stifle VERB cblr-1731 18 82 bureaucracy bureaucracy NOUN cblr-1731 18 83 . . PUNCT cblr-1731 18 84 ” " PUNCT cblr-1731 19 1 — — PUNCT cblr-1731 19 2 warren warren PROPN cblr-1731 19 3 buffett buffett PROPN cblr-1731 19 4 , , PUNCT cblr-1731 19 5 2009 2009 NUM cblr-1731 19 6 letter letter NOUN cblr-1731 19 7 to to ADP cblr-1731 19 8 shareholders shareholders PROPN cblr-1731 19 9 i. i. PROPN cblr-1731 19 10 introduction introduction NOUN cblr-1731 19 11 this this DET cblr-1731 19 12 article article NOUN cblr-1731 19 13 examines examine VERB cblr-1731 19 14 the the DET cblr-1731 19 15 visible visible ADJ cblr-1731 19 16 costs cost NOUN cblr-1731 19 17 of of ADP cblr-1731 19 18 berkshire berkshire PROPN cblr-1731 19 19 hathaway hathaway PROPN cblr-1731 19 20 ’s ’s PART cblr-1731 19 21 ( ( PUNCT cblr-1731 19 22 “ " PUNCT cblr-1731 19 23 berkshire berkshire NOUN cblr-1731 19 24 ” " PUNCT cblr-1731 19 25 or or CCONJ cblr-1731 19 26 “ " PUNCT cblr-1731 19 27 brk brk PROPN cblr-1731 19 28 ” " PUNCT cblr-1731 19 29 ) ) PUNCT cblr-1731 19 30 unique unique ADJ cblr-1731 19 31 managerial managerial ADJ cblr-1731 19 32 model model NOUN cblr-1731 19 33 , , PUNCT cblr-1731 19 34 highlighting highlight VERB cblr-1731 19 35 the the DET cblr-1731 19 36 lessons lesson NOUN cblr-1731 19 37 for for ADP cblr-1731 19 38 berkshire berkshire NOUN cblr-1731 19 39 and and CCONJ cblr-1731 19 40 the the DET cblr-1731 19 41 implications implication NOUN cblr-1731 19 42 for for ADP cblr-1731 19 43 peers peer NOUN cblr-1731 19 44 and and CCONJ cblr-1731 19 45 policymakers policymaker NOUN cblr-1731 19 46 . . PUNCT cblr-1731 20 1 most most ADJ cblr-1731 20 2 such such ADJ cblr-1731 20 3 costs cost NOUN cblr-1731 20 4 derive derive VERB cblr-1731 20 5 from from ADP cblr-1731 20 6 the the DET cblr-1731 20 7 same same ADJ cblr-1731 20 8 features feature NOUN cblr-1731 20 9 that that PRON cblr-1731 20 10 have have AUX cblr-1731 20 11 produced produce VERB cblr-1731 20 12 substantial substantial ADJ cblr-1731 20 13 value value NOUN cblr-1731 20 14 at at ADP cblr-1731 20 15 berkshire berkshire NOUN cblr-1731 20 16 , , PUNCT cblr-1731 20 17 which which PRON cblr-1731 20 18 ironically ironically ADV cblr-1731 20 19 are be AUX cblr-1731 20 20 due due ADJ cblr-1731 20 21 to to PART cblr-1731 20 22 berkshire berkshire VERB cblr-1731 20 23 trying try VERB cblr-1731 20 24 to to PART cblr-1731 20 25 be be AUX cblr-1731 20 26 something something PRON cblr-1731 20 27 it it PRON cblr-1731 20 28 is be AUX cblr-1731 20 29 not not PART cblr-1731 20 30 : : PUNCT cblr-1731 20 31 warren warren PROPN cblr-1731 20 32 buffett buffett PROPN cblr-1731 20 33 ’s ’s PART cblr-1731 20 34 giant giant ADJ cblr-1731 20 35 industrial industrial ADJ cblr-1731 20 36 conglomerate conglomerate NOUN cblr-1731 20 37 is be AUX cblr-1731 20 38 organized organize VERB cblr-1731 20 39 and and CCONJ cblr-1731 20 40 operated operate VERB cblr-1731 20 41 as as SCONJ cblr-1731 20 42 if if SCONJ cblr-1731 20 43 it it PRON cblr-1731 20 44 were be AUX cblr-1731 20 45 still still ADV cblr-1731 20 46 the the DET cblr-1731 20 47 old old ADJ cblr-1731 20 48 - - PUNCT cblr-1731 20 49 fashioned fashioned ADJ cblr-1731 20 50 investment investment NOUN cblr-1731 20 51 partnership partnership NOUN cblr-1731 20 52 of of ADP cblr-1731 20 53 its its PRON cblr-1731 20 54 early early ADJ cblr-1731 20 55 years year NOUN cblr-1731 20 56 . . PUNCT cblr-1731 21 1 costs cost NOUN cblr-1731 21 2 arise arise VERB cblr-1731 21 3 from from ADP cblr-1731 21 4 the the DET cblr-1731 21 5 empowerment empowerment NOUN cblr-1731 21 6 of of ADP cblr-1731 21 7 a a DET cblr-1731 21 8 single single ADJ cblr-1731 21 9 individual individual NOUN cblr-1731 21 10 to to PART cblr-1731 21 11 make make VERB cblr-1731 21 12 multi multi ADJ cblr-1731 21 13 - - ADJ cblr-1731 21 14 billion billion NUM cblr-1731 21 15 dollar dollar NOUN cblr-1731 21 16 decisions decision NOUN cblr-1731 21 17 with with ADP cblr-1731 21 18 scant scant ADJ cblr-1731 21 19 oversight oversight NOUN cblr-1731 21 20 , , PUNCT cblr-1731 21 21 devolution devolution NOUN cblr-1731 21 22 of of ADP cblr-1731 21 23 operating operate VERB cblr-1731 21 24 decisions decision NOUN cblr-1731 21 25 to to PART cblr-1731 21 26 disparate disparate VERB cblr-1731 21 27 individuals individual NOUN cblr-1731 21 28 running run VERB cblr-1731 21 29 its its PRON cblr-1731 21 30 scores score NOUN cblr-1731 21 31 of of ADP cblr-1731 21 32 diverse diverse ADJ cblr-1731 21 33 subsidiaries subsidiary NOUN cblr-1731 21 34 , , PUNCT cblr-1731 21 35 and and CCONJ cblr-1731 21 36 a a DET cblr-1731 21 37 culture culture NOUN cblr-1731 21 38 based base VERB cblr-1731 21 39 on on ADP cblr-1731 21 40 a a DET cblr-1731 21 41 cultivated cultivate VERB cblr-1731 21 42 sense sense NOUN cblr-1731 21 43 of of ADP cblr-1731 21 44 integrity integrity NOUN cblr-1731 21 45 rather rather ADV cblr-1731 21 46 than than ADP cblr-1731 21 47 conventional conventional ADJ cblr-1731 21 48 internal internal ADJ cblr-1731 21 49 controls control NOUN cblr-1731 21 50 . . PUNCT cblr-1731 22 1 while while SCONJ cblr-1731 22 2 the the DET cblr-1731 22 3 net net ADJ cblr-1731 22 4 benefits benefit NOUN cblr-1731 22 5 are be AUX cblr-1731 22 6 vast vast ADJ cblr-1731 22 7 , , PUNCT cblr-1731 22 8 tallying tally VERB cblr-1731 22 9 the the DET cblr-1731 22 10 costs cost NOUN cblr-1731 22 11 illuminates illuminate VERB cblr-1731 22 12 how how SCONJ cblr-1731 22 13 the the DET cblr-1731 22 14 model model NOUN cblr-1731 22 15 might might AUX cblr-1731 22 16 be be AUX cblr-1731 22 17 improved improve VERB cblr-1731 22 18 , , PUNCT cblr-1731 22 19 especially especially ADV cblr-1731 22 20 after after SCONJ cblr-1731 22 21 buffett buffett PROPN cblr-1731 22 22 leaves leave VERB cblr-1731 22 23 the the DET cblr-1731 22 24 scene scene NOUN cblr-1731 22 25 in in ADP cblr-1731 22 26 the the DET cblr-1731 22 27 next next ADJ cblr-1731 22 28 decade decade NOUN cblr-1731 22 29 or or CCONJ cblr-1731 22 30 so so ADV cblr-1731 22 31 . . PUNCT cblr-1731 23 1 the the DET cblr-1731 23 2 most most ADV cblr-1731 23 3 visible visible ADJ cblr-1731 23 4 — — PUNCT cblr-1731 23 5 and and CCONJ cblr-1731 23 6 measurable measurable ADJ cblr-1731 23 7 — — PUNCT cblr-1731 23 8 costs cost NOUN cblr-1731 23 9 of of ADP cblr-1731 23 10 the the DET cblr-1731 23 11 berkshire berkshire PROPN cblr-1731 23 12 model model NOUN cblr-1731 23 13 appear appear VERB cblr-1731 23 14 in in ADP cblr-1731 23 15 capital capital NOUN cblr-1731 23 16 allocation allocation NOUN cblr-1731 23 17 , , PUNCT cblr-1731 23 18 principally principally ADV cblr-1731 23 19 acquisitions acquisition NOUN cblr-1731 23 20 and and CCONJ cblr-1731 23 21 investments investment NOUN cblr-1731 23 22 . . PUNCT cblr-1731 24 1 buffett buffett PROPN cblr-1731 24 2 relies rely VERB cblr-1731 24 3 on on ADP cblr-1731 24 4 himself himself PRON cblr-1731 24 5 in in ADP cblr-1731 24 6 making make VERB cblr-1731 24 7 these these DET cblr-1731 24 8 decisions decision NOUN cblr-1731 24 9 , , PUNCT cblr-1731 24 10 without without ADP cblr-1731 24 11 board board NOUN cblr-1731 24 12 or or CCONJ cblr-1731 24 13 executive executive ADJ cblr-1731 24 14 input input NOUN cblr-1731 24 15 or or CCONJ cblr-1731 24 16 oversight oversight NOUN cblr-1731 24 17 . . PUNCT cblr-1731 25 1 while while SCONJ cblr-1731 25 2 most most ADJ cblr-1731 25 3 such such ADJ cblr-1731 25 4 decisions decision NOUN cblr-1731 25 5 have have AUX cblr-1731 25 6 succeeded succeed VERB cblr-1731 25 7 , , PUNCT cblr-1731 25 8 many many ADJ cblr-1731 25 9 spectacularly spectacularly ADV cblr-1731 25 10 so so ADV cblr-1731 25 11 , , PUNCT cblr-1731 25 12 some some DET cblr-1731 25 13 bloopers blooper NOUN cblr-1731 25 14 have have AUX cblr-1731 25 15 appeared appear VERB cblr-1731 25 16 , , PUNCT cblr-1731 25 17 the the DET cblr-1731 25 18 bestknown bestknown NOUN cblr-1731 25 19 being be AUX cblr-1731 25 20 dexter dexter NOUN cblr-1731 25 21 shoe shoe NOUN cblr-1731 25 22 and and CCONJ cblr-1731 25 23 gen gen PROPN cblr-1731 25 24 re re PROPN cblr-1731 25 25 . . PUNCT cblr-1731 26 1 the the DET cblr-1731 26 2 costs cost NOUN cblr-1731 26 3 of of ADP cblr-1731 26 4 error error NOUN cblr-1731 26 5 from from ADP cblr-1731 26 6 such such ADJ cblr-1731 26 7 self self NOUN cblr-1731 26 8 - - PUNCT cblr-1731 26 9 reliance reliance NOUN cblr-1731 26 10 could could AUX cblr-1731 26 11 readily readily ADV cblr-1731 26 12 be be AUX cblr-1731 26 13 mitigated mitigate VERB cblr-1731 26 14 by by ADP cblr-1731 26 15 broader broad ADJ cblr-1731 26 16 distribution distribution NOUN cblr-1731 26 17 of of ADP cblr-1731 26 18 decision decision NOUN cblr-1731 26 19 - - PUNCT cblr-1731 26 20 making make VERB cblr-1731 26 21 power power NOUN cblr-1731 26 22 . . PUNCT cblr-1731 27 1 buffett buffett PROPN cblr-1731 27 2 does do VERB cblr-1731 27 3 so so ADV cblr-1731 27 4 by by ADP cblr-1731 27 5 periodically periodically ADV cblr-1731 27 6 consulting consult VERB cblr-1731 27 7 vice vice NOUN cblr-1731 27 8 chairman chairman PROPN cblr-1731 27 9 charles charles PROPN cblr-1731 27 10 munger munger PROPN cblr-1731 27 11 . . PUNCT cblr-1731 28 1 yet yet ADV cblr-1731 28 2 since since SCONJ cblr-1731 28 3 the the DET cblr-1731 28 4 net net ADJ cblr-1731 28 5 costs cost NOUN cblr-1731 28 6 of of ADP cblr-1731 28 7 this this DET cblr-1731 28 8 approach approach NOUN cblr-1731 28 9 have have AUX cblr-1731 28 10 been be AUX cblr-1731 28 11 modest modest ADJ cblr-1731 28 12 , , PUNCT cblr-1731 28 13 thanks thank NOUN cblr-1731 28 14 to to ADP cblr-1731 28 15 buffett buffett PROPN cblr-1731 28 16 ’s ’s PART cblr-1731 28 17 acumen acuman NOUN cblr-1731 28 18 and and CCONJ cblr-1731 28 19 stature stature NOUN cblr-1731 28 20 , , PUNCT cblr-1731 28 21 there there PRON cblr-1731 28 22 is be VERB cblr-1731 28 23 no no DET cblr-1731 28 24 reason reason NOUN cblr-1731 28 25 cunningham cunningham PROPN cblr-1731 28 26 – – PUNCT cblr-1731 28 27 final final ADJ cblr-1731 28 28 4 4 NUM cblr-1731 28 29 columbia columbia PROPN cblr-1731 28 30 business business NOUN cblr-1731 28 31 law law PROPN cblr-1731 28 32 review review NOUN cblr-1731 28 33 [ [ X cblr-1731 28 34 vol vol NOUN cblr-1731 28 35 . . NOUN cblr-1731 28 36 2016 2016 NUM cblr-1731 28 37 for for ADP cblr-1731 28 38 reform reform NOUN cblr-1731 28 39 while while SCONJ cblr-1731 28 40 buffett buffett PROPN cblr-1731 28 41 is be AUX cblr-1731 28 42 at at ADP cblr-1731 28 43 the the DET cblr-1731 28 44 helm helm NOUN cblr-1731 28 45 . . PUNCT cblr-1731 29 1 but but CCONJ cblr-1731 29 2 some some DET cblr-1731 29 3 additional additional ADJ cblr-1731 29 4 power power NOUN cblr-1731 29 5 - - PUNCT cblr-1731 29 6 sharing sharing NOUN cblr-1731 29 7 and and CCONJ cblr-1731 29 8 oversight oversight NOUN cblr-1731 29 9 would would AUX cblr-1731 29 10 be be AUX cblr-1731 29 11 appropriate appropriate ADJ cblr-1731 29 12 for for ADP cblr-1731 29 13 his his PRON cblr-1731 29 14 successors successor NOUN cblr-1731 29 15 , , PUNCT cblr-1731 29 16 as as SCONJ cblr-1731 29 17 berkshire berkshire NOUN cblr-1731 29 18 ’s ’s PART cblr-1731 29 19 succession succession NOUN cblr-1731 29 20 plan plan NOUN cblr-1731 29 21 contemplates contemplate VERB cblr-1731 29 22 . . PUNCT cblr-1731 30 1 the the DET cblr-1731 30 2 more more ADV cblr-1731 30 3 dramatic dramatic ADJ cblr-1731 30 4 costs cost NOUN cblr-1731 30 5 of of ADP cblr-1731 30 6 the the DET cblr-1731 30 7 berkshire berkshire NOUN cblr-1731 30 8 model model NOUN cblr-1731 30 9 arise arise VERB cblr-1731 30 10 from from ADP cblr-1731 30 11 executive executive ADJ cblr-1731 30 12 departures departure NOUN cblr-1731 30 13 and and CCONJ cblr-1731 30 14 succession succession NOUN cblr-1731 30 15 at at ADP cblr-1731 30 16 the the DET cblr-1731 30 17 subsidiaries subsidiary NOUN cblr-1731 30 18 . . PUNCT cblr-1731 31 1 while while SCONJ cblr-1731 31 2 most most ADJ cblr-1731 31 3 berkshire berkshire NOUN cblr-1731 31 4 managers manager NOUN cblr-1731 31 5 have have AUX cblr-1731 31 6 excelled excel VERB cblr-1731 31 7 and and CCONJ cblr-1731 31 8 the the DET cblr-1731 31 9 company company NOUN cblr-1731 31 10 generally generally ADV cblr-1731 31 11 retains retain VERB cblr-1731 31 12 managers manager NOUN cblr-1731 31 13 for for ADP cblr-1731 31 14 lengthy lengthy ADJ cblr-1731 31 15 tenures tenure NOUN cblr-1731 31 16 , , PUNCT cblr-1731 31 17 there there PRON cblr-1731 31 18 are be VERB cblr-1731 31 19 exceptions exception NOUN cblr-1731 31 20 that that PRON cblr-1731 31 21 become become VERB cblr-1731 31 22 costly costly ADJ cblr-1731 31 23 because because SCONJ cblr-1731 31 24 they they PRON cblr-1731 31 25 suggest suggest VERB cblr-1731 31 26 crisis crisis NOUN cblr-1731 31 27 . . PUNCT cblr-1731 32 1 the the DET cblr-1731 32 2 stakes stake NOUN cblr-1731 32 3 have have AUX cblr-1731 32 4 been be AUX cblr-1731 32 5 particularly particularly ADV cblr-1731 32 6 high high ADJ cblr-1731 32 7 on on ADP cblr-1731 32 8 the the DET cblr-1731 32 9 occasions occasion NOUN cblr-1731 32 10 involving involve VERB cblr-1731 32 11 executives executive NOUN cblr-1731 32 12 considered consider VERB cblr-1731 32 13 likely likely ADJ cblr-1731 32 14 successors successor NOUN cblr-1731 32 15 to to ADP cblr-1731 32 16 buffett buffett PROPN cblr-1731 32 17 , , PUNCT cblr-1731 32 18 such such ADJ cblr-1731 32 19 as as ADP cblr-1731 32 20 david david PROPN cblr-1731 32 21 sokol sokol PROPN cblr-1731 32 22 and and CCONJ cblr-1731 32 23 richard richard PROPN cblr-1731 32 24 santulli santulli PROPN cblr-1731 32 25 . . PUNCT cblr-1731 33 1 the the DET cblr-1731 33 2 drama drama NOUN cblr-1731 33 3 of of ADP cblr-1731 33 4 berkshire berkshire NOUN cblr-1731 33 5 executive executive ADJ cblr-1731 33 6 shuffles shuffle NOUN cblr-1731 33 7 arises arise VERB cblr-1731 33 8 in in ADP cblr-1731 33 9 part part NOUN cblr-1731 33 10 from from ADP cblr-1731 33 11 buffett buffett PROPN cblr-1731 33 12 being be AUX cblr-1731 33 13 the the DET cblr-1731 33 14 company company NOUN cblr-1731 33 15 ’s ’s PART cblr-1731 33 16 sole sole ADJ cblr-1731 33 17 decision decision NOUN cblr-1731 33 18 maker maker NOUN cblr-1731 33 19 , , PUNCT cblr-1731 33 20 but but CCONJ cblr-1731 33 21 it it PRON cblr-1731 33 22 is be AUX cblr-1731 33 23 magnified magnify VERB cblr-1731 33 24 by by ADP cblr-1731 33 25 berkshire berkshire NOUN cblr-1731 33 26 ’s ’s PART cblr-1731 33 27 lack lack NOUN cblr-1731 33 28 of of ADP cblr-1731 33 29 formal formal ADJ cblr-1731 33 30 vetting vetting NOUN cblr-1731 33 31 , , PUNCT cblr-1731 33 32 training training NOUN cblr-1731 33 33 , , PUNCT cblr-1731 33 34 grooming grooming NOUN cblr-1731 33 35 , , PUNCT cblr-1731 33 36 and and CCONJ cblr-1731 33 37 talent talent NOUN cblr-1731 33 38 review review NOUN cblr-1731 33 39 protocols protocol NOUN cblr-1731 33 40 . . PUNCT cblr-1731 34 1 this this DET cblr-1731 34 2 problem problem NOUN cblr-1731 34 3 should should AUX cblr-1731 34 4 be be AUX cblr-1731 34 5 remedied remedied ADJ cblr-1731 34 6 now now ADV cblr-1731 34 7 , , PUNCT cblr-1731 34 8 while while SCONJ cblr-1731 34 9 buffett buffett PROPN cblr-1731 34 10 is be AUX cblr-1731 34 11 at at ADP cblr-1731 34 12 the the DET cblr-1731 34 13 helm helm NOUN cblr-1731 34 14 , , PUNCT cblr-1731 34 15 and and CCONJ cblr-1731 34 16 there there PRON cblr-1731 34 17 is be VERB cblr-1731 34 18 evidence evidence NOUN cblr-1731 34 19 of of ADP cblr-1731 34 20 increased increase VERB cblr-1731 34 21 coordination coordination NOUN cblr-1731 34 22 and and CCONJ cblr-1731 34 23 discussion discussion NOUN cblr-1731 34 24 among among ADP cblr-1731 34 25 berkshire berkshire PROPN cblr-1731 34 26 subsidiary subsidiary NOUN cblr-1731 34 27 chief chief ADJ cblr-1731 34 28 executive executive ADJ cblr-1731 34 29 officers officer NOUN cblr-1731 34 30 ( ( PUNCT cblr-1731 34 31 “ " PUNCT cblr-1731 34 32 ceos ceo NOUN cblr-1731 34 33 ” " PUNCT cblr-1731 34 34 ) ) PUNCT cblr-1731 34 35 , , PUNCT cblr-1731 34 36 which which PRON cblr-1731 34 37 should should AUX cblr-1731 34 38 intensify intensify VERB cblr-1731 34 39 as as ADP cblr-1731 34 40 berkshire berkshire NOUN cblr-1731 34 41 moves move NOUN cblr-1731 34 42 beyond beyond ADP cblr-1731 34 43 buffett buffett PROPN cblr-1731 34 44 . . PUNCT cblr-1731 35 1 berkshire berkshire PROPN cblr-1731 35 2 ’s ’s PART cblr-1731 35 3 decentralized decentralize VERB cblr-1731 35 4 structure structure NOUN cblr-1731 35 5 produces produce VERB cblr-1731 35 6 a a DET cblr-1731 35 7 third third ADJ cblr-1731 35 8 category category NOUN cblr-1731 35 9 of of ADP cblr-1731 35 10 costs cost NOUN cblr-1731 35 11 , , PUNCT cblr-1731 35 12 those those PRON cblr-1731 35 13 inflicted inflict VERB cblr-1731 35 14 on on ADP cblr-1731 35 15 customers customer NOUN cblr-1731 35 16 or or CCONJ cblr-1731 35 17 employees employee NOUN cblr-1731 35 18 . . PUNCT cblr-1731 36 1 at at ADP cblr-1731 36 2 a a DET cblr-1731 36 3 sprawling sprawl VERB cblr-1731 36 4 business business NOUN cblr-1731 36 5 organization organization NOUN cblr-1731 36 6 with with ADP cblr-1731 36 7 hundreds hundred NOUN cblr-1731 36 8 of of ADP cblr-1731 36 9 units unit NOUN cblr-1731 36 10 and and CCONJ cblr-1731 36 11 hundreds hundred NOUN cblr-1731 36 12 of of ADP cblr-1731 36 13 thousands thousand NOUN cblr-1731 36 14 of of ADP cblr-1731 36 15 employees employee NOUN cblr-1731 36 16 , , PUNCT cblr-1731 36 17 such such ADJ cblr-1731 36 18 externalities externality NOUN cblr-1731 36 19 are be AUX cblr-1731 36 20 inevitable inevitable ADJ cblr-1731 36 21 . . PUNCT cblr-1731 37 1 known know VERB cblr-1731 37 2 historical historical ADJ cblr-1731 37 3 examples example NOUN cblr-1731 37 4 at at ADP cblr-1731 37 5 specific specific ADJ cblr-1731 37 6 berkshire berkshire NOUN cblr-1731 37 7 subsidiaries subsidiary NOUN cblr-1731 37 8 include include VERB cblr-1731 37 9 questionable questionable ADJ cblr-1731 37 10 practices practice NOUN cblr-1731 37 11 of of ADP cblr-1731 37 12 certain certain ADJ cblr-1731 37 13 distributors distributor NOUN cblr-1731 37 14 of of ADP cblr-1731 37 15 kirby kirby PROPN cblr-1731 37 16 vacuums vacuum NOUN cblr-1731 37 17 and and CCONJ cblr-1731 37 18 inhumane inhumane ADJ cblr-1731 37 19 conditions condition NOUN cblr-1731 37 20 at at ADP cblr-1731 37 21 fruit fruit NOUN cblr-1731 37 22 of of ADP cblr-1731 37 23 the the DET cblr-1731 37 24 loom loom NOUN cblr-1731 37 25 ’s ’s PART cblr-1731 37 26 overseas overseas ADJ cblr-1731 37 27 manufacturing manufacturing NOUN cblr-1731 37 28 facilities facility NOUN cblr-1731 37 29 . . PUNCT cblr-1731 38 1 more more ADV cblr-1731 38 2 generally generally ADV cblr-1731 38 3 , , PUNCT cblr-1731 38 4 consumer consumer NOUN cblr-1731 38 5 advocates advocate NOUN cblr-1731 38 6 critique critique VERB cblr-1731 38 7 some some DET cblr-1731 38 8 products product NOUN cblr-1731 38 9 that that PRON cblr-1731 38 10 berkshire berkshire VERB cblr-1731 38 11 companies company NOUN cblr-1731 38 12 and and CCONJ cblr-1731 38 13 investees investee VERB cblr-1731 38 14 market market NOUN cblr-1731 38 15 — — PUNCT cblr-1731 38 16 such such ADJ cblr-1731 38 17 as as ADP cblr-1731 38 18 see see VERB cblr-1731 38 19 ’s ’s PART cblr-1731 38 20 candies candy NOUN cblr-1731 38 21 , , PUNCT cblr-1731 38 22 coca coca PROPN cblr-1731 38 23 - - PUNCT cblr-1731 38 24 cola cola PROPN cblr-1731 38 25 ’s ’s PART cblr-1731 38 26 carbonated carbonated ADJ cblr-1731 38 27 beverages beverage NOUN cblr-1731 38 28 , , PUNCT cblr-1731 38 29 and and CCONJ cblr-1731 38 30 kraft kraft NOUN cblr-1731 38 31 ’s ’s PART cblr-1731 38 32 processed process VERB cblr-1731 38 33 foods.1 foods.1 PROPN cblr-1731 38 34 labor labor NOUN cblr-1731 38 35 advocates advocate NOUN cblr-1731 38 36 challenge challenge VERB cblr-1731 38 37 treatment treatment NOUN cblr-1731 38 38 of of ADP cblr-1731 38 39 the the DET cblr-1731 38 40 workforce workforce NOUN cblr-1731 38 41 by by ADP cblr-1731 38 42 co co NOUN cblr-1731 38 43 - - NOUN cblr-1731 38 44 investors investor NOUN cblr-1731 38 45 , , PUNCT cblr-1731 38 46 especially especially ADV cblr-1731 38 47 by by ADP cblr-1731 38 48 3 3 NUM cblr-1731 38 49 g g NOUN cblr-1731 38 50 , , PUNCT cblr-1731 38 51 1 1 NUM cblr-1731 38 52 see see VERB cblr-1731 38 53 , , PUNCT cblr-1731 38 54 e.g. e.g. ADV cblr-1731 38 55 , , PUNCT cblr-1731 38 56 zachary zachary PROPN cblr-1731 38 57 tracer tracer NOUN cblr-1731 38 58 , , PUNCT cblr-1731 38 59 kraft kraft VERB cblr-1731 38 60 a a DET cblr-1731 38 61 menu menu NOUN cblr-1731 38 62 at at ADP cblr-1731 38 63 the the DET cblr-1731 38 64 buffett buffett PROPN cblr-1731 38 65 buffet buffet PROPN cblr-1731 38 66 with with ADP cblr-1731 38 67 warren warren PROPN cblr-1731 38 68 ’s ’s PART cblr-1731 38 69 latest late ADJ cblr-1731 38 70 deal deal NOUN cblr-1731 38 71 , , PUNCT cblr-1731 38 72 bloomberg bloomberg NOUN cblr-1731 38 73 bus bus NOUN cblr-1731 38 74 . . PUNCT cblr-1731 39 1 ( ( PUNCT cblr-1731 39 2 mar mar PROPN cblr-1731 39 3 . . PROPN cblr-1731 39 4 25 25 NUM cblr-1731 39 5 , , PUNCT cblr-1731 39 6 2015 2015 NUM cblr-1731 39 7 ) ) PUNCT cblr-1731 39 8 , , PUNCT cblr-1731 39 9 http:// http:// PROPN cblr-1731 39 10 www.bloomberg.com/news/articles/2015-03-25/kraft-a-menu-at-the-buffettbuffet-with-warren-s-latest-deal www.bloomberg.com/news/articles/2015-03-25/kraft-a-menu-at-the-buffettbuffet-with-warren-s-latest-deal NOUN cblr-1731 40 1 [ [ X cblr-1731 40 2 http://perma.cc/lqu3-djpa http://perma.cc/lqu3-djpa X cblr-1731 40 3 ] ] X cblr-1731 40 4 ; ; PUNCT cblr-1731 40 5 kyle kyle PROPN cblr-1731 40 6 stock stock PROPN cblr-1731 40 7 , , PUNCT cblr-1731 40 8 warren warren PROPN cblr-1731 40 9 buffett buffett PROPN cblr-1731 40 10 is be AUX cblr-1731 40 11 bad bad ADJ cblr-1731 40 12 for for ADP cblr-1731 40 13 your your PRON cblr-1731 40 14 health health NOUN cblr-1731 40 15 , , PUNCT cblr-1731 40 16 bloomberg bloomberg NOUN cblr-1731 40 17 bus bus NOUN cblr-1731 40 18 . . PUNCT cblr-1731 41 1 ( ( PUNCT cblr-1731 41 2 mar mar PROPN cblr-1731 41 3 . . PROPN cblr-1731 41 4 25 25 NUM cblr-1731 41 5 , , PUNCT cblr-1731 41 6 2015 2015 NUM cblr-1731 41 7 ) ) PUNCT cblr-1731 41 8 , , PUNCT cblr-1731 41 9 http://www.bloomberg.com/news/articles/2015-03-25/warren-buffett-is-badfor-your-health http://www.bloomberg.com/news/articles/2015-03-25/warren-buffett-is-badfor-your-health PROPN cblr-1731 42 1 [ [ X cblr-1731 42 2 http://perma.cc/5658-hsqn http://perma.cc/5658-hsqn NOUN cblr-1731 42 3 ] ] X cblr-1731 42 4 . . PUNCT cblr-1731 43 1 cunningham cunningham PROPN cblr-1731 43 2 – – PUNCT cblr-1731 43 3 final final ADJ cblr-1731 43 4 no no NOUN cblr-1731 43 5 . . NOUN cblr-1731 43 6 1:1 1:1 NUM cblr-1731 43 7 ] ] PUNCT cblr-1731 43 8 berkshire berkshire NOUN cblr-1731 43 9 ’s ’s PART cblr-1731 43 10 blemishes blemish NOUN cblr-1731 43 11 5 5 NUM cblr-1731 43 12 the the DET cblr-1731 43 13 brazilian brazilian ADJ cblr-1731 43 14 private private ADJ cblr-1731 43 15 equity equity NOUN cblr-1731 43 16 firm firm NOUN cblr-1731 43 17 with with ADP cblr-1731 43 18 which which DET cblr-1731 43 19 berkshire berkshire NOUN cblr-1731 43 20 has have AUX cblr-1731 43 21 co co VERB cblr-1731 43 22 - - VERB cblr-1731 43 23 invested invest VERB cblr-1731 43 24 in in ADP cblr-1731 43 25 h.j h.j PROPN cblr-1731 43 26 . . PROPN cblr-1731 43 27 heinz heinz PROPN cblr-1731 43 28 and and CCONJ cblr-1731 43 29 kraft kraft NOUN cblr-1731 43 30 . . PUNCT cblr-1731 44 1 while while SCONJ cblr-1731 44 2 such such ADJ cblr-1731 44 3 costs cost NOUN cblr-1731 44 4 are be AUX cblr-1731 44 5 tolerable tolerable ADJ cblr-1731 44 6 with with ADP cblr-1731 44 7 buffett buffett PROPN cblr-1731 44 8 at at ADP cblr-1731 44 9 the the DET cblr-1731 44 10 helm helm NOUN cblr-1731 44 11 , , PUNCT cblr-1731 44 12 and and CCONJ cblr-1731 44 13 the the DET cblr-1731 44 14 benefits benefit NOUN cblr-1731 44 15 of of ADP cblr-1731 44 16 decentralization decentralization NOUN cblr-1731 44 17 should should AUX cblr-1731 44 18 be be AUX cblr-1731 44 19 sustained sustain VERB cblr-1731 44 20 once once SCONJ cblr-1731 44 21 he he PRON cblr-1731 44 22 ’s ’s AUX cblr-1731 44 23 gone go VERB cblr-1731 44 24 , , PUNCT cblr-1731 44 25 berkshire berkshire NOUN cblr-1731 44 26 will will AUX cblr-1731 44 27 need need VERB cblr-1731 44 28 to to PART cblr-1731 44 29 invest invest VERB cblr-1731 44 30 more more ADJ cblr-1731 44 31 resources resource NOUN cblr-1731 44 32 in in ADP cblr-1731 44 33 conglomerate conglomerate NOUN cblr-1731 44 34 - - PUNCT cblr-1731 44 35 wide wide ADJ cblr-1731 44 36 internal internal ADJ cblr-1731 44 37 control control NOUN cblr-1731 44 38 and and CCONJ cblr-1731 44 39 reporting reporting NOUN cblr-1731 44 40 in in ADP cblr-1731 44 41 the the DET cblr-1731 44 42 coming come VERB cblr-1731 44 43 years year NOUN cblr-1731 44 44 . . 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PUNCT cblr-1731 56 1 to to PART cblr-1731 56 2 summarize summarize VERB cblr-1731 56 3 , , PUNCT cblr-1731 56 4 the the DET cblr-1731 56 5 principal principal ADJ cblr-1731 56 6 sources source NOUN cblr-1731 56 7 of of ADP cblr-1731 56 8 the the DET cblr-1731 56 9 costs cost NOUN cblr-1731 56 10 of of ADP cblr-1731 56 11 berkshire berkshire NOUN cblr-1731 56 12 ’s ’s PART cblr-1731 56 13 model model NOUN cblr-1731 56 14 are be AUX cblr-1731 56 15 self self NOUN cblr-1731 56 16 - - PUNCT cblr-1731 56 17 reliance reliance NOUN cblr-1731 56 18 , , PUNCT cblr-1731 56 19 a a DET cblr-1731 56 20 culture culture NOUN cblr-1731 56 21 of of ADP cblr-1731 56 22 autonomy autonomy NOUN cblr-1731 56 23 and and CCONJ cblr-1731 56 24 trust trust NOUN cblr-1731 56 25 , , PUNCT cblr-1731 56 26 decentralization decentralization NOUN cblr-1731 56 27 , , PUNCT cblr-1731 56 28 thrift thrift NOUN cblr-1731 56 29 , , PUNCT cblr-1731 56 30 and and CCONJ cblr-1731 56 31 alter alter PROPN cblr-1731 56 32 ego ego PROPN cblr-1731 56 33 . . 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PUNCT cblr-1731 58 1 corrective corrective ADJ cblr-1731 58 2 measures measure NOUN cblr-1731 58 3 to to PART cblr-1731 58 4 enact enact VERB cblr-1731 58 5 now now ADV cblr-1731 58 6 are be AUX cblr-1731 58 7 incrementally incrementally ADV cblr-1731 58 8 greater great ADJ cblr-1731 58 9 leadership leadership NOUN cblr-1731 58 10 coordination coordination NOUN cblr-1731 58 11 , , PUNCT cblr-1731 58 12 increased increase VERB cblr-1731 58 13 grooming groom VERB cblr-1731 58 14 to to PART cblr-1731 58 15 minimize minimize VERB cblr-1731 58 16 the the DET cblr-1731 58 17 costs cost NOUN cblr-1731 58 18 of of ADP cblr-1731 58 19 succession succession NOUN cblr-1731 58 20 crises crisis NOUN cblr-1731 58 21 , , PUNCT cblr-1731 58 22 and and CCONJ cblr-1731 58 23 hiring hiring NOUN cblr-1731 58 24 of of ADP cblr-1731 58 25 a a DET cblr-1731 58 26 professional professional ADJ cblr-1731 58 27 public public ADJ cblr-1731 58 28 relations relation NOUN cblr-1731 58 29 expert expert NOUN cblr-1731 58 30 to to PART cblr-1731 58 31 protect protect VERB cblr-1731 58 32 reputation reputation NOUN cblr-1731 58 33 . . PUNCT cblr-1731 59 1 measures measure NOUN cblr-1731 59 2 to to PART cblr-1731 59 3 enact enact VERB cblr-1731 59 4 in in ADP cblr-1731 59 5 due due ADJ cblr-1731 59 6 course course NOUN cblr-1731 59 7 are be AUX cblr-1731 59 8 slightly slightly ADV cblr-1731 59 9 wider wide ADJ cblr-1731 59 10 sharing sharing NOUN cblr-1731 59 11 of of ADP cblr-1731 59 12 decision decision NOUN cblr-1731 59 13 - - PUNCT cblr-1731 59 14 making make VERB cblr-1731 59 15 power power NOUN cblr-1731 59 16 over over ADP cblr-1731 59 17 capital capital NOUN cblr-1731 59 18 allocation allocation NOUN cblr-1731 59 19 to to PART cblr-1731 59 20 neutralize neutralize VERB cblr-1731 59 21 error error NOUN cblr-1731 59 22 risk risk NOUN cblr-1731 59 23 ; ; PUNCT cblr-1731 59 24 modest modest ADJ cblr-1731 59 25 strengthening strengthening NOUN cblr-1731 59 26 of of ADP cblr-1731 59 27 internal internal ADJ cblr-1731 59 28 reporting reporting NOUN cblr-1731 59 29 controls control NOUN cblr-1731 59 30 to to ADP cblr-1731 59 31 police police NOUN cblr-1731 59 32 against against ADP cblr-1731 59 33 externalities externality NOUN cblr-1731 59 34 ; ; PUNCT cblr-1731 59 35 and and CCONJ cblr-1731 59 36 maintenance maintenance NOUN cblr-1731 59 37 of of ADP cblr-1731 59 38 executive executive ADJ cblr-1731 59 39 reticence reticence NOUN cblr-1731 59 40 on on ADP cblr-1731 59 41 matters matter NOUN cblr-1731 59 42 of of ADP cblr-1731 59 43 public public ADJ cblr-1731 59 44 policy policy NOUN cblr-1731 59 45 to to PART cblr-1731 59 46 avoid avoid VERB cblr-1731 59 47 the the DET cblr-1731 59 48 costs cost NOUN cblr-1731 59 49 of of ADP cblr-1731 59 50 treating treat VERB cblr-1731 59 51 berkshire berkshire NOUN cblr-1731 59 52 ’s ’s PART cblr-1731 59 53 leadership leadership NOUN cblr-1731 59 54 as as ADP cblr-1731 59 55 synonymous synonymous ADJ cblr-1731 59 56 with with ADP cblr-1731 59 57 the the DET cblr-1731 59 58 company company NOUN cblr-1731 59 59 . . PUNCT cblr-1731 60 1 latimes.com/business/la-fi-burger-king-tim-hortons-boyctott-warrenbuffett-20140826-story.html latimes.com/business/la-fi-burger-king-tim-hortons-boyctott-warrenbuffett-20140826-story.html PUNCT cblr-1731 61 1 [ [ X cblr-1731 61 2 http://perma.cc/pg8b-y8np http://perma.cc/pg8b-y8np PROPN cblr-1731 61 3 ] ] X cblr-1731 61 4 ; ; PUNCT cblr-1731 61 5 infra infra NOUN cblr-1731 61 6 text text NOUN cblr-1731 61 7 accompanying accompanying ADJ cblr-1731 61 8 notes note NOUN cblr-1731 61 9 100–15 100–15 NUM cblr-1731 61 10 . . PROPN cblr-1731 61 11 4 4 NUM cblr-1731 61 12 see see VERB cblr-1731 61 13 dale dale NOUN cblr-1731 61 14 a. a. NOUN cblr-1731 61 15 oesterle oesterle NOUN cblr-1731 61 16 , , PUNCT cblr-1731 61 17 revisiting revisit VERB cblr-1731 61 18 the the DET cblr-1731 61 19 anti anti ADJ cblr-1731 61 20 - - ADJ cblr-1731 61 21 takeover takeover ADJ cblr-1731 61 22 fervor fervor NOUN cblr-1731 61 23 of of ADP cblr-1731 61 24 the the DET cblr-1731 61 25 ’ ' PUNCT cblr-1731 61 26 80s 80 NOUN cblr-1731 61 27 through through ADP cblr-1731 61 28 the the DET cblr-1731 61 29 letters letter NOUN cblr-1731 61 30 of of ADP cblr-1731 61 31 warren warren PROPN cblr-1731 61 32 buffett buffett PROPN cblr-1731 61 33 , , PUNCT cblr-1731 61 34 19 19 NUM cblr-1731 61 35 cardozo cardozo PROPN cblr-1731 61 36 l. l. PROPN cblr-1731 61 37 rev rev PROPN cblr-1731 61 38 . . PROPN cblr-1731 61 39 565 565 NUM cblr-1731 61 40 , , PUNCT cblr-1731 61 41 573–77 573–77 NUM cblr-1731 61 42 ( ( PUNCT cblr-1731 61 43 1997 1997 NUM cblr-1731 61 44 ) ) PUNCT cblr-1731 61 45 ; ; PUNCT cblr-1731 61 46 see see VERB cblr-1731 61 47 also also ADV cblr-1731 61 48 infra infra NOUN cblr-1731 61 49 note note VERB cblr-1731 61 50 104 104 NUM cblr-1731 61 51 and and CCONJ cblr-1731 61 52 accompanying accompany VERB cblr-1731 61 53 text text NOUN cblr-1731 61 54 . . PUNCT cblr-1731 62 1 5 5 NUM cblr-1731 62 2 see see VERB cblr-1731 62 3 stephen stephen PROPN cblr-1731 62 4 gandel gandel PROPN cblr-1731 62 5 , , PUNCT cblr-1731 62 6 warren warren PROPN cblr-1731 62 7 buffett buffett PROPN cblr-1731 62 8 : : PUNCT cblr-1731 62 9 “ " PUNCT cblr-1731 62 10 i i PRON cblr-1731 62 11 would would AUX cblr-1731 62 12 have have AUX cblr-1731 62 13 passed pass VERB cblr-1731 62 14 keystone keystone PROPN cblr-1731 62 15 , , PUNCT cblr-1731 62 16 ” " PUNCT cblr-1731 62 17 fortune fortune NOUN cblr-1731 62 18 ( ( PUNCT cblr-1731 62 19 mar mar PROPN cblr-1731 62 20 . . PROPN cblr-1731 62 21 2 2 NUM cblr-1731 62 22 , , PUNCT cblr-1731 62 23 2015 2015 NUM cblr-1731 62 24 ) ) PUNCT cblr-1731 62 25 , , PUNCT cblr-1731 62 26 http://fortune.com/2015/03/02/warrenbuffett-i-would-have-passed-keystone/ http://fortune.com/2015/03/02/warrenbuffett-i-would-have-passed-keystone/ ADJ cblr-1731 62 27 [ [ X cblr-1731 62 28 https://perma.cc/wm9y-5zed https://perma.cc/wm9y-5ze VERB cblr-1731 62 29 ] ] X cblr-1731 62 30 ; ; PUNCT cblr-1731 62 31 jeremy jeremy PROPN cblr-1731 62 32 bowman bowman PROPN cblr-1731 62 33 , , PUNCT cblr-1731 62 34 did do AUX cblr-1731 62 35 obama obama PROPN cblr-1731 62 36 just just ADV cblr-1731 62 37 do do VERB cblr-1731 62 38 warren warren PROPN cblr-1731 62 39 buffett buffett PROPN cblr-1731 62 40 and and CCONJ cblr-1731 62 41 railroad railroad NOUN cblr-1731 62 42 stocks stock NOUN cblr-1731 62 43 a a DET cblr-1731 62 44 huge huge ADJ cblr-1731 62 45 favor favor NOUN cblr-1731 62 46 ? ? PUNCT cblr-1731 63 1 motley motley ADJ cblr-1731 63 2 fool fool NOUN cblr-1731 63 3 ( ( PUNCT cblr-1731 63 4 mar mar PROPN cblr-1731 63 5 . . PROPN cblr-1731 63 6 8 8 NUM cblr-1731 63 7 , , PUNCT cblr-1731 63 8 2015 2015 NUM cblr-1731 63 9 ) ) PUNCT cblr-1731 63 10 , , PUNCT cblr-1731 63 11 http://www.fool.com/ http://www.fool.com/ NOUN cblr-1731 63 12 investing investing PROPN cblr-1731 63 13 / / SYM cblr-1731 63 14 general/2015/03/08 general/2015/03/08 PROPN cblr-1731 63 15 / / SYM cblr-1731 63 16 obama obama NOUN cblr-1731 63 17 - - PUNCT cblr-1731 63 18 did do VERB cblr-1731 63 19 - - PUNCT cblr-1731 63 20 warren warren PROPN cblr-1731 63 21 - - PUNCT cblr-1731 63 22 buffett buffett PROPN cblr-1731 63 23 - - PUNCT cblr-1731 63 24 railroad railroad NOUN cblr-1731 63 25 - - PUNCT cblr-1731 63 26 stockshuge stockshuge NOUN cblr-1731 63 27 - - PUNCT cblr-1731 63 28 favo.aspx favo.aspx NUM cblr-1731 64 1 [ [ X cblr-1731 64 2 http://perma.cc/f6w9-47vh http://perma.cc/f6w9-47vh X cblr-1731 64 3 ] ] PUNCT cblr-1731 64 4 . . PUNCT cblr-1731 65 1 cunningham cunningham PROPN cblr-1731 65 2 – – PUNCT cblr-1731 65 3 final final ADJ cblr-1731 65 4 no no NOUN cblr-1731 65 5 . . NOUN cblr-1731 65 6 1:1 1:1 NUM cblr-1731 65 7 ] ] PUNCT cblr-1731 65 8 berkshire berkshire NOUN cblr-1731 65 9 ’s ’s PART cblr-1731 65 10 blemishes blemish NOUN cblr-1731 65 11 7 7 NUM cblr-1731 65 12 the the DET cblr-1731 65 13 berkshire berkshire PROPN cblr-1731 65 14 model model NOUN cblr-1731 65 15 offers offer VERB cblr-1731 65 16 lessons lesson NOUN cblr-1731 65 17 for for ADP cblr-1731 65 18 other other ADJ cblr-1731 65 19 companies company NOUN cblr-1731 65 20 and and CCONJ cblr-1731 65 21 policymakers policymaker NOUN cblr-1731 65 22 . . PUNCT cblr-1731 66 1 given give VERB cblr-1731 66 2 the the DET cblr-1731 66 3 model model NOUN cblr-1731 66 4 ’s ’s PART cblr-1731 66 5 substantial substantial ADJ cblr-1731 66 6 net net ADJ cblr-1731 66 7 success success NOUN cblr-1731 66 8 , , PUNCT cblr-1731 66 9 a a DET cblr-1731 66 10 fundamental fundamental ADJ cblr-1731 66 11 prescription prescription NOUN cblr-1731 66 12 is be AUX cblr-1731 66 13 to to PART cblr-1731 66 14 allow allow VERB cblr-1731 66 15 corporations corporation NOUN cblr-1731 66 16 broad broad ADJ cblr-1731 66 17 leeway leeway NOUN cblr-1731 66 18 in in ADP cblr-1731 66 19 governance governance NOUN cblr-1731 66 20 design design NOUN cblr-1731 66 21 and and CCONJ cblr-1731 66 22 organizational organizational ADJ cblr-1731 66 23 structure structure NOUN cblr-1731 66 24 . . PUNCT cblr-1731 67 1 in in ADP cblr-1731 67 2 their their PRON cblr-1731 67 3 modesty modesty NOUN cblr-1731 67 4 , , PUNCT cblr-1731 67 5 berkshire berkshire NOUN cblr-1731 67 6 ’s ’s PART cblr-1731 67 7 specific specific ADJ cblr-1731 67 8 blemishes blemish NOUN cblr-1731 67 9 reaffirm reaffirm VERB cblr-1731 67 10 the the DET cblr-1731 67 11 value value NOUN cblr-1731 67 12 of of ADP cblr-1731 67 13 such such ADJ cblr-1731 67 14 latitude latitude NOUN cblr-1731 67 15 while while SCONJ cblr-1731 67 16 attesting attest VERB cblr-1731 67 17 to to ADP cblr-1731 67 18 the the DET cblr-1731 67 19 general general ADJ cblr-1731 67 20 appeal appeal NOUN cblr-1731 67 21 of of ADP cblr-1731 67 22 the the DET cblr-1731 67 23 type type NOUN cblr-1731 67 24 — — PUNCT cblr-1731 67 25 but but CCONJ cblr-1731 67 26 not not PART cblr-1731 67 27 the the DET cblr-1731 67 28 degree degree NOUN cblr-1731 67 29 — — PUNCT cblr-1731 67 30 of of ADP cblr-1731 67 31 prevailing prevail VERB cblr-1731 67 32 governance governance NOUN cblr-1731 67 33 regulation regulation NOUN cblr-1731 67 34 or or CCONJ cblr-1731 67 35 practice practice NOUN cblr-1731 67 36 . . PUNCT cblr-1731 68 1 leading lead VERB cblr-1731 68 2 examples example NOUN cblr-1731 68 3 are be AUX cblr-1731 68 4 having have VERB cblr-1731 68 5 some some DET cblr-1731 68 6 deliberative deliberative ADJ cblr-1731 68 7 body body NOUN cblr-1731 68 8 such such ADJ cblr-1731 68 9 as as ADP cblr-1731 68 10 a a DET cblr-1731 68 11 board board NOUN cblr-1731 68 12 , , PUNCT cblr-1731 68 13 but but CCONJ cblr-1731 68 14 accepting accept VERB cblr-1731 68 15 the the DET cblr-1731 68 16 traditional traditional ADJ cblr-1731 68 17 advisory advisory ADJ cblr-1731 68 18 model model NOUN cblr-1731 68 19 rather rather ADV cblr-1731 68 20 than than ADP cblr-1731 68 21 insisting insist VERB cblr-1731 68 22 on on ADP cblr-1731 68 23 the the DET cblr-1731 68 24 contemporary contemporary ADJ cblr-1731 68 25 monitoring monitoring NOUN cblr-1731 68 26 model model NOUN cblr-1731 68 27 ; ; PUNCT cblr-1731 68 28 allowing allow VERB cblr-1731 68 29 even even ADV cblr-1731 68 30 iconic iconic ADJ cblr-1731 68 31 chief chief ADJ cblr-1731 68 32 executives executive NOUN cblr-1731 68 33 significant significant ADJ cblr-1731 68 34 , , PUNCT cblr-1731 68 35 if if SCONJ cblr-1731 68 36 restrained restrain VERB cblr-1731 68 37 , , PUNCT cblr-1731 68 38 autonomy autonomy NOUN cblr-1731 68 39 ; ; PUNCT cblr-1731 68 40 leaving leave VERB cblr-1731 68 41 substantial substantial ADJ cblr-1731 68 42 room room NOUN cblr-1731 68 43 for for ADP cblr-1731 68 44 trust trust NOUN cblr-1731 68 45 as as ADP cblr-1731 68 46 the the DET cblr-1731 68 47 basis basis NOUN cblr-1731 68 48 of of ADP cblr-1731 68 49 an an DET cblr-1731 68 50 organization organization NOUN cblr-1731 68 51 , , PUNCT cblr-1731 68 52 complemented complement VERB cblr-1731 68 53 by by ADP cblr-1731 68 54 controls control NOUN cblr-1731 68 55 tailored tailor VERB cblr-1731 68 56 to to ADP cblr-1731 68 57 internal internal ADJ cblr-1731 68 58 needs need NOUN cblr-1731 68 59 rather rather ADV cblr-1731 68 60 than than ADP cblr-1731 68 61 imposed impose VERB cblr-1731 68 62 by by ADP cblr-1731 68 63 general general ADJ cblr-1731 68 64 regulation regulation NOUN cblr-1731 68 65 ; ; PUNCT cblr-1731 68 66 and and CCONJ cblr-1731 68 67 permitting permit VERB cblr-1731 68 68 the the DET cblr-1731 68 69 conglomerate conglomerate NOUN cblr-1731 68 70 form form NOUN cblr-1731 68 71 of of ADP cblr-1731 68 72 organization organization NOUN cblr-1731 68 73 to to PART cblr-1731 68 74 flourish flourish VERB cblr-1731 68 75 under under ADP cblr-1731 68 76 conditions condition NOUN cblr-1731 68 77 such such ADJ cblr-1731 68 78 as as SCONJ cblr-1731 68 79 those those DET cblr-1731 68 80 berkshire berkshire NOUN cblr-1731 68 81 has have AUX cblr-1731 68 82 nurtured nurture VERB cblr-1731 68 83 while while SCONJ cblr-1731 68 84 assuring assure VERB cblr-1731 68 85 the the DET cblr-1731 68 86 capacity capacity NOUN cblr-1731 68 87 for for ADP cblr-1731 68 88 such such ADJ cblr-1731 68 89 institutions institution NOUN cblr-1731 68 90 to to PART cblr-1731 68 91 defend defend VERB cblr-1731 68 92 themselves themselves PRON cblr-1731 68 93 against against ADP cblr-1731 68 94 hostile hostile ADJ cblr-1731 68 95 onslaught onslaught NOUN cblr-1731 68 96 by by ADP cblr-1731 68 97 corporate corporate ADJ cblr-1731 68 98 raiders raider NOUN cblr-1731 68 99 or or CCONJ cblr-1731 68 100 shareholder shareholder NOUN cblr-1731 68 101 activists activist NOUN cblr-1731 68 102 . . PUNCT cblr-1731 69 1 ii ii PROPN cblr-1731 69 2 . . PUNCT cblr-1731 70 1 issues issue NOUN cblr-1731 70 2 and and CCONJ cblr-1731 70 3 lessons lesson NOUN cblr-1731 70 4 for for ADP cblr-1731 70 5 berkshire berkshire NOUN cblr-1731 70 6 as as ADP cblr-1731 70 7 the the DET cblr-1731 70 8 ensuing ensue VERB cblr-1731 70 9 chart chart NOUN cblr-1731 70 10 tabulates tabulate VERB cblr-1731 70 11 , , PUNCT cblr-1731 70 12 the the DET cblr-1731 70 13 following follow VERB cblr-1731 70 14 discussion discussion NOUN cblr-1731 70 15 catalogues catalogue VERB cblr-1731 70 16 the the DET cblr-1731 70 17 costs cost NOUN cblr-1731 70 18 of of ADP cblr-1731 70 19 berkshire berkshire NOUN cblr-1731 70 20 ’s ’s PART cblr-1731 70 21 model model NOUN cblr-1731 70 22 as as ADP cblr-1731 70 23 arising arise VERB cblr-1731 70 24 from from ADP cblr-1731 70 25 five five NUM cblr-1731 70 26 traits trait NOUN cblr-1731 70 27 — — PUNCT cblr-1731 70 28 self self NOUN cblr-1731 70 29 - - PUNCT cblr-1731 70 30 reliance reliance NOUN cblr-1731 70 31 , , PUNCT cblr-1731 70 32 autonomy autonomy NOUN cblr-1731 70 33 , , PUNCT cblr-1731 70 34 decentralization decentralization NOUN cblr-1731 70 35 , , PUNCT cblr-1731 70 36 thrift thrift NOUN cblr-1731 70 37 , , PUNCT cblr-1731 70 38 and and CCONJ cblr-1731 70 39 alter alter PROPN cblr-1731 70 40 ego ego PROPN cblr-1731 70 41 . . PUNCT cblr-1731 71 1 each each DET cblr-1731 71 2 trait trait NOUN cblr-1731 71 3 ’s ’s PART cblr-1731 71 4 costs cost NOUN cblr-1731 71 5 are be AUX cblr-1731 71 6 presented present VERB cblr-1731 71 7 in in ADP cblr-1731 71 8 the the DET cblr-1731 71 9 context context NOUN cblr-1731 71 10 where where SCONJ cblr-1731 71 11 they they PRON cblr-1731 71 12 manifest manifest VERB cblr-1731 71 13 most most ADV cblr-1731 71 14 saliently saliently ADV cblr-1731 71 15 and and CCONJ cblr-1731 71 16 are be AUX cblr-1731 71 17 accompanied accompany VERB cblr-1731 71 18 by by ADP cblr-1731 71 19 specific specific ADJ cblr-1731 71 20 illustrations illustration NOUN cblr-1731 71 21 . . PUNCT cblr-1731 72 1 a a DET cblr-1731 72 2 prescription prescription NOUN cblr-1731 72 3 concludes conclude VERB cblr-1731 72 4 each each DET cblr-1731 72 5 section section NOUN cblr-1731 72 6 , , PUNCT cblr-1731 72 7 principally principally ADV cblr-1731 72 8 discussing discuss VERB cblr-1731 72 9 whether whether SCONJ cblr-1731 72 10 to to PART cblr-1731 72 11 adjust adjust VERB cblr-1731 72 12 the the DET cblr-1731 72 13 trait trait NOUN cblr-1731 72 14 now now ADV cblr-1731 72 15 or or CCONJ cblr-1731 72 16 after after SCONJ cblr-1731 72 17 buffett buffett PROPN cblr-1731 72 18 leaves leave VERB cblr-1731 72 19 the the DET cblr-1731 72 20 scene scene NOUN cblr-1731 72 21 . . PUNCT cblr-1731 73 1 in in ADP cblr-1731 73 2 a a DET cblr-1731 73 3 couple couple NOUN cblr-1731 73 4 of of ADP cblr-1731 73 5 miscellaneous miscellaneous ADJ cblr-1731 73 6 settings setting NOUN cblr-1731 73 7 , , PUNCT cblr-1731 73 8 tolerance tolerance NOUN cblr-1731 73 9 is be AUX cblr-1731 73 10 the the DET cblr-1731 73 11 best good ADJ cblr-1731 73 12 prescription prescription NOUN cblr-1731 73 13 . . PUNCT cblr-1731 74 1 cunningham cunningham PROPN cblr-1731 74 2 – – PUNCT cblr-1731 74 3 final final ADJ cblr-1731 74 4 8 8 NUM cblr-1731 74 5 columbia columbia PROPN cblr-1731 74 6 business business NOUN cblr-1731 74 7 law law PROPN cblr-1731 74 8 review review NOUN cblr-1731 75 1 [ [ X cblr-1731 75 2 vol vol NOUN cblr-1731 75 3 . . NOUN cblr-1731 75 4 2016 2016 NUM cblr-1731 75 5 table table NOUN cblr-1731 75 6 1 1 NUM cblr-1731 75 7 : : PUNCT cblr-1731 75 8 costs cost NOUN cblr-1731 75 9 of of ADP cblr-1731 75 10 berkshire berkshire NOUN cblr-1731 75 11 ’s ’s PART cblr-1731 75 12 blemishes blemish NOUN cblr-1731 75 13 vs. vs. ADP cblr-1731 75 14 modest modest ADJ cblr-1731 75 15 prescriptions prescription NOUN cblr-1731 75 16 trait trait NOUN cblr-1731 75 17 cost cost NOUN cblr-1731 75 18 context context NOUN cblr-1731 75 19 examples example NOUN cblr-1731 75 20 prescription prescription NOUN cblr-1731 75 21 a. a. NOUN cblr-1731 75 22 selfreliance selfreliance NOUN cblr-1731 75 23 : : PUNCT cblr-1731 75 24 brk brk PROPN cblr-1731 75 25 ceo ceo PROPN cblr-1731 75 26 exercises exercise VERB cblr-1731 75 27 unbridled unbridle VERB cblr-1731 75 28 discretion discretion NOUN cblr-1731 75 29 error error NOUN cblr-1731 75 30 risk risk NOUN cblr-1731 75 31 capital capital NOUN cblr-1731 75 32 allocation allocation NOUN cblr-1731 75 33 ( ( PUNCT cblr-1731 75 34 acquisitions acquisition NOUN cblr-1731 75 35 and and CCONJ cblr-1731 75 36 investments investment NOUN cblr-1731 75 37 ) ) PUNCT cblr-1731 75 38 xtra xtra PROPN cblr-1731 75 39 dexter dexter PROPN cblr-1731 75 40 shoe shoe PROPN cblr-1731 75 41 gen gen PROPN cblr-1731 75 42 re re ADP cblr-1731 75 43 txu txu PROPN cblr-1731 75 44 adjust adjust VERB cblr-1731 75 45 postbuffett postbuffett PROPN cblr-1731 75 46 b. b. PROPN cblr-1731 75 47 autonomy autonomy PROPN cblr-1731 75 48 : : PUNCT cblr-1731 75 49 subsidiary subsidiary NOUN cblr-1731 75 50 ceos ceos NOUN cblr-1731 75 51 in in ADP cblr-1731 75 52 trustbased trustbase VERB cblr-1731 75 53 culture culture NOUN cblr-1731 75 54 with with ADP cblr-1731 75 55 hyperdelegation hyperdelegation NOUN cblr-1731 75 56 and and CCONJ cblr-1731 75 57 one one NUM cblr-1731 75 58 - - PUNCT cblr-1731 75 59 man man NOUN cblr-1731 75 60 oversight oversight NOUN cblr-1731 75 61 crisis crisis NOUN cblr-1731 75 62 executive executive NOUN cblr-1731 75 63 departures departure NOUN cblr-1731 75 64 netjets netjet NOUN cblr-1731 75 65 d. d. PROPN cblr-1731 75 66 sokol sokol PROPN cblr-1731 75 67 ben ben PROPN cblr-1731 75 68 . . PROPN cblr-1731 75 69 moore moore PROPN cblr-1731 75 70 gen gen PROPN cblr-1731 75 71 re re AUX cblr-1731 75 72 adjust adjust VERB cblr-1731 75 73 now now ADV cblr-1731 75 74 c. c. PROPN cblr-1731 75 75 decentralization decentralization NOUN cblr-1731 75 76 : : PUNCT cblr-1731 75 77 units unit NOUN cblr-1731 75 78 operate operate VERB cblr-1731 75 79 independently independently ADV cblr-1731 75 80 without without ADP cblr-1731 75 81 central central ADJ cblr-1731 75 82 control control NOUN cblr-1731 75 83 or or CCONJ cblr-1731 75 84 reporting report VERB cblr-1731 75 85 externalities externality NOUN cblr-1731 75 86 impositions imposition NOUN cblr-1731 75 87 on on ADP cblr-1731 75 88 customers/ customers/ NUM cblr-1731 75 89 workers worker NOUN cblr-1731 75 90 kirby kirby PROPN cblr-1731 75 91 company company NOUN cblr-1731 75 92 fruit fruit NOUN cblr-1731 75 93 of of ADP cblr-1731 75 94 the the DET cblr-1731 75 95 loom loom NOUN cblr-1731 75 96 3 3 NUM cblr-1731 75 97 g g NOUN cblr-1731 75 98 heinz heinz ADJ cblr-1731 75 99 / / SYM cblr-1731 75 100 kraft kraft NOUN cblr-1731 75 101 acme acme NOUN cblr-1731 75 102 brick brick NOUN cblr-1731 75 103 adjust adjust NOUN cblr-1731 75 104 postbuffett postbuffett PROPN cblr-1731 75 105 d. d. PROPN cblr-1731 75 106 thrift thrift PROPN cblr-1731 75 107 : : PUNCT cblr-1731 75 108 zealous zealous ADJ cblr-1731 75 109 antibureaucracy antibureaucracy NOUN cblr-1731 75 110 means mean VERB cblr-1731 75 111 no no DET cblr-1731 75 112 central central ADJ cblr-1731 75 113 departments department NOUN cblr-1731 75 114 , , PUNCT cblr-1731 75 115 incl incl NOUN cblr-1731 75 116 . . PUNCT cblr-1731 76 1 public public ADJ cblr-1731 76 2 relations relation NOUN cblr-1731 76 3 reputation reputation NOUN cblr-1731 76 4 risk risk VERB cblr-1731 76 5 investigative investigative ADJ cblr-1731 76 6 journalists journalist NOUN cblr-1731 76 7 attack attack VERB cblr-1731 76 8 flatfooted flatfooted ADJ cblr-1731 76 9 goliath goliath PROPN cblr-1731 76 10 nico nico PROPN cblr-1731 76 11 clayton clayton PROPN cblr-1731 76 12 homes homes PROPN cblr-1731 76 13 nv nv PROPN cblr-1731 76 14 energy energy NOUN cblr-1731 76 15 adjust adjust VERB cblr-1731 76 16 now now ADV cblr-1731 76 17 e. e. PROPN cblr-1731 76 18 alter alter PROPN cblr-1731 76 19 ego ego PROPN cblr-1731 76 20 : : PUNCT cblr-1731 76 21 widespread widespread ADJ cblr-1731 76 22 view view NOUN cblr-1731 76 23 of of ADP cblr-1731 76 24 buffett buffett NOUN cblr-1731 76 25 and and CCONJ cblr-1731 76 26 berkshire berkshire PROPN cblr-1731 76 27 as as ADP cblr-1731 76 28 synonymous synonymous ADJ cblr-1731 76 29 perceived perceive VERB cblr-1731 76 30 hypocrisy hypocrisy NOUN cblr-1731 76 31 uncertainty uncertainty NOUN cblr-1731 76 32 public public ADJ cblr-1731 76 33 debates debate VERB cblr-1731 76 34 succession succession NOUN cblr-1731 76 35 planning planning NOUN cblr-1731 76 36 tax tax NOUN cblr-1731 76 37 policy policy NOUN cblr-1731 76 38 financial financial ADJ cblr-1731 76 39 intermediaries intermediary NOUN cblr-1731 76 40 adjust adjust VERB cblr-1731 76 41 postbuffett postbuffett NOUN cblr-1731 76 42 cunningham cunningham PROPN cblr-1731 76 43 – – PUNCT cblr-1731 76 44 final final ADJ cblr-1731 76 45 no no NOUN cblr-1731 76 46 . . NOUN cblr-1731 76 47 1:1 1:1 NUM cblr-1731 76 48 ] ] PUNCT cblr-1731 76 49 berkshire berkshire NOUN cblr-1731 76 50 ’s ’s PART cblr-1731 76 51 blemishes blemish NOUN cblr-1731 76 52 9 9 NUM cblr-1731 76 53 trait trait NOUN cblr-1731 76 54 cost cost NOUN cblr-1731 76 55 context context NOUN cblr-1731 76 56 examples example NOUN cblr-1731 76 57 prescription prescription NOUN cblr-1731 76 58 f. f. PROPN cblr-1731 76 59 miscellaneous miscellaneous ADJ cblr-1731 76 60 opportunity opportunity NOUN cblr-1731 76 61 costs cost VERB cblr-1731 76 62 false false ADJ cblr-1731 76 63 expectations expectation NOUN cblr-1731 76 64 listed list VERB cblr-1731 76 65 family family NOUN cblr-1731 76 66 businesses business NOUN cblr-1731 76 67 executive executive ADJ cblr-1731 76 68 tenure tenure NOUN cblr-1731 76 69 myth myth PROPN cblr-1731 76 70 clayton clayton PROPN cblr-1731 76 71 homes home VERB cblr-1731 76 72 actual actual ADJ cblr-1731 76 73 departures departure NOUN cblr-1731 76 74 tolerate tolerate VERB cblr-1731 76 75 a. a. NOUN cblr-1731 76 76 error error NOUN cblr-1731 76 77 risks risk NOUN cblr-1731 76 78 of of ADP cblr-1731 76 79 self self NOUN cblr-1731 76 80 - - PUNCT cblr-1731 76 81 reliance reliance NOUN cblr-1731 76 82 in in ADP cblr-1731 76 83 capital capital NOUN cblr-1731 76 84 allocation allocation NOUN cblr-1731 76 85 buffett buffett PROPN cblr-1731 76 86 calls call VERB cblr-1731 76 87 all all DET cblr-1731 76 88 parent parent NOUN cblr-1731 76 89 - - PUNCT cblr-1731 76 90 level level NOUN cblr-1731 76 91 shots shot NOUN cblr-1731 76 92 at at ADP cblr-1731 76 93 berkshire berkshire NOUN cblr-1731 76 94 , , PUNCT cblr-1731 76 95 on on ADP cblr-1731 76 96 his his PRON cblr-1731 76 97 own own ADJ cblr-1731 76 98 , , PUNCT cblr-1731 76 99 with with ADP cblr-1731 76 100 limited limited ADJ cblr-1731 76 101 investigation investigation NOUN cblr-1731 76 102 and and CCONJ cblr-1731 76 103 no no DET cblr-1731 76 104 oversight oversight NOUN cblr-1731 76 105 , , PUNCT cblr-1731 76 106 especially especially ADV cblr-1731 76 107 concerning concern VERB cblr-1731 76 108 acquisitions acquisition NOUN cblr-1731 76 109 and and CCONJ cblr-1731 76 110 investments investment NOUN cblr-1731 76 111 . . PUNCT cblr-1731 77 1 unlike unlike ADP cblr-1731 77 2 most most ADV cblr-1731 77 3 sizable sizable ADJ cblr-1731 77 4 public public ADJ cblr-1731 77 5 companies company NOUN cblr-1731 77 6 , , PUNCT cblr-1731 77 7 berkshire berkshire NOUN cblr-1731 77 8 relies rely VERB cblr-1731 77 9 on on ADP cblr-1731 77 10 neither neither CCONJ cblr-1731 77 11 its its PRON cblr-1731 77 12 board board NOUN cblr-1731 77 13 of of ADP cblr-1731 77 14 directors director NOUN cblr-1731 77 15 nor nor CCONJ cblr-1731 77 16 senior senior ADJ cblr-1731 77 17 executives executive NOUN cblr-1731 77 18 to to PART cblr-1731 77 19 approve approve VERB cblr-1731 77 20 acquisitions acquisition NOUN cblr-1731 77 21 , , PUNCT cblr-1731 77 22 nor nor CCONJ cblr-1731 77 23 does do AUX cblr-1731 77 24 it it PRON cblr-1731 77 25 utilize utilize VERB cblr-1731 77 26 outside outside ADP cblr-1731 77 27 advisors advisor NOUN cblr-1731 77 28 to to ADP cblr-1731 77 29 vet vet NOUN cblr-1731 77 30 deals deal NOUN cblr-1731 77 31 . . PUNCT cblr-1731 78 1 buffett buffett PROPN cblr-1731 78 2 explains explain VERB cblr-1731 78 3 his his PRON cblr-1731 78 4 general general ADJ cblr-1731 78 5 philosophy philosophy NOUN cblr-1731 78 6 to to ADP cblr-1731 78 7 the the DET cblr-1731 78 8 board board NOUN cblr-1731 78 9 but but CCONJ cblr-1731 78 10 rarely rarely ADV cblr-1731 78 11 seeks seek VERB cblr-1731 78 12 its its PRON cblr-1731 78 13 advance advance NOUN cblr-1731 78 14 approval approval NOUN cblr-1731 78 15 ; ; PUNCT cblr-1731 78 16 he he PRON cblr-1731 78 17 occasionally occasionally ADV cblr-1731 78 18 consults consult VERB cblr-1731 78 19 with with ADP cblr-1731 78 20 vice vice NOUN cblr-1731 78 21 chairman chairman NOUN cblr-1731 78 22 charles charles PROPN cblr-1731 78 23 munger munger PROPN cblr-1731 78 24 ahead ahead ADV cblr-1731 78 25 of of ADP cblr-1731 78 26 time time NOUN cblr-1731 78 27 , , PUNCT cblr-1731 78 28 but but CCONJ cblr-1731 78 29 not not PART cblr-1731 78 30 always always ADV cblr-1731 78 31 , , PUNCT cblr-1731 78 32 and and CCONJ cblr-1731 78 33 he he PRON cblr-1731 78 34 does do AUX cblr-1731 78 35 not not PART cblr-1731 78 36 always always ADV cblr-1731 78 37 heed heed VERB cblr-1731 78 38 munger munger PROPN cblr-1731 78 39 ’s ’s PART cblr-1731 78 40 counsel.6 counsel.6 PROPN cblr-1731 78 41 berkshire berkshire NOUN cblr-1731 78 42 rarely rarely ADV cblr-1731 78 43 uses use VERB cblr-1731 78 44 business business NOUN cblr-1731 78 45 brokers broker NOUN cblr-1731 78 46 or or CCONJ cblr-1731 78 47 investment investment NOUN cblr-1731 78 48 bankers banker NOUN cblr-1731 78 49 to to PART cblr-1731 78 50 find find VERB cblr-1731 78 51 acquisition acquisition NOUN cblr-1731 78 52 targets target NOUN cblr-1731 78 53 , , PUNCT cblr-1731 78 54 but but CCONJ cblr-1731 78 55 rather rather ADV cblr-1731 78 56 relies rely VERB cblr-1731 78 57 on on ADP cblr-1731 78 58 an an DET cblr-1731 78 59 informal informal ADJ cblr-1731 78 60 network network NOUN cblr-1731 78 61 of of ADP cblr-1731 78 62 friends friend NOUN cblr-1731 78 63 and and CCONJ cblr-1731 78 64 business business NOUN cblr-1731 78 65 associates.7 associates.7 VERB cblr-1731 78 66 most most ADJ cblr-1731 78 67 suggestions suggestion NOUN cblr-1731 78 68 work work VERB cblr-1731 78 69 out out ADP cblr-1731 78 70 well well ADV cblr-1731 78 71 , , PUNCT cblr-1731 78 72 but but CCONJ cblr-1731 78 73 not not PART cblr-1731 78 74 all all PRON cblr-1731 78 75 , , PUNCT cblr-1731 78 76 entailing entail VERB cblr-1731 78 77 some some DET cblr-1731 78 78 costs cost NOUN cblr-1731 78 79 of of ADP cblr-1731 78 80 error error NOUN cblr-1731 78 81 . . PUNCT cblr-1731 79 1 one one NUM cblr-1731 79 2 of of ADP cblr-1731 79 3 berkshire berkshire NOUN cblr-1731 79 4 ’s ’s PART cblr-1731 79 5 most most ADV cblr-1731 79 6 unusual unusual ADJ cblr-1731 79 7 acquisitions acquisition NOUN cblr-1731 79 8 occurred occur VERB cblr-1731 79 9 in in ADP cblr-1731 79 10 2001 2001 NUM cblr-1731 79 11 , , PUNCT cblr-1731 79 12 when when SCONJ cblr-1731 79 13 buffett buffett PROPN cblr-1731 79 14 ’s ’s PART cblr-1731 79 15 friend friend NOUN cblr-1731 79 16 , , PUNCT cblr-1731 79 17 julian julian PROPN cblr-1731 79 18 robertson robertson PROPN cblr-1731 79 19 , , PUNCT cblr-1731 79 20 founder founder NOUN cblr-1731 79 21 of of ADP cblr-1731 79 22 the the DET cblr-1731 79 23 preeminent preeminent ADJ cblr-1731 79 24 tiger tiger NOUN cblr-1731 79 25 fund fund NOUN cblr-1731 79 26 , , PUNCT cblr-1731 79 27 signaled signal VERB cblr-1731 79 28 to to ADP cblr-1731 79 29 buffett buffett PROPN cblr-1731 79 30 his his PRON cblr-1731 79 31 willingness willingness NOUN cblr-1731 79 32 to to PART cblr-1731 79 33 sell sell VERB cblr-1731 79 34 a a DET cblr-1731 79 35 large large ADJ cblr-1731 79 36 stake stake NOUN cblr-1731 79 37 in in ADP cblr-1731 79 38 xtra xtra PROPN cblr-1731 79 39 , , PUNCT cblr-1731 79 40 the the DET cblr-1731 79 41 truck truck NOUN cblr-1731 79 42 leasing lease VERB cblr-1731 79 43 company.8 company.8 PRON cblr-1731 79 44 6 6 NUM cblr-1731 79 45 see see VERB cblr-1731 79 46 lawrence lawrence PROPN cblr-1731 79 47 a. a. PROPN cblr-1731 79 48 cunningham cunningham PROPN cblr-1731 79 49 , , PUNCT cblr-1731 79 50 berkshire berkshire PROPN cblr-1731 79 51 beyond beyond ADP cblr-1731 79 52 buffett buffett PROPN cblr-1731 79 53 : : PUNCT cblr-1731 79 54 the the DET cblr-1731 79 55 enduring endure VERB cblr-1731 79 56 value value NOUN cblr-1731 79 57 of of ADP cblr-1731 79 58 values value NOUN cblr-1731 79 59 213 213 NUM cblr-1731 79 60 ( ( PUNCT cblr-1731 79 61 2014 2014 NUM cblr-1731 79 62 ) ) PUNCT cblr-1731 80 1 [ [ X cblr-1731 80 2 hereinafter hereinafter NOUN cblr-1731 80 3 cunningham cunningham PROPN cblr-1731 80 4 , , PUNCT cblr-1731 80 5 berkshire berkshire PROPN cblr-1731 80 6 beyond beyond ADP cblr-1731 80 7 buffett buffett PROPN cblr-1731 80 8 ] ] X cblr-1731 80 9 ; ; PUNCT cblr-1731 80 10 lawrence lawrence PROPN cblr-1731 80 11 a. a. PROPN cblr-1731 80 12 cunningham cunningham PROPN cblr-1731 80 13 , , PUNCT cblr-1731 80 14 berkshire berkshire PROPN cblr-1731 80 15 ’s ’s PART cblr-1731 80 16 disintermediation disintermediation NOUN cblr-1731 80 17 : : PUNCT cblr-1731 80 18 buffett buffett PROPN cblr-1731 80 19 ’s ’s PART cblr-1731 80 20 new new ADJ cblr-1731 80 21 managerial managerial ADJ cblr-1731 80 22 model model NOUN cblr-1731 80 23 , , PUNCT cblr-1731 80 24 50 50 NUM cblr-1731 80 25 wake wake VERB cblr-1731 80 26 forest forest PROPN cblr-1731 80 27 l. l. PROPN cblr-1731 80 28 rev rev PROPN cblr-1731 80 29 . . PROPN cblr-1731 80 30 509 509 NUM cblr-1731 80 31 , , PUNCT cblr-1731 80 32 516 516 NUM cblr-1731 80 33 ( ( PUNCT cblr-1731 80 34 2015 2015 NUM cblr-1731 80 35 ) ) PUNCT cblr-1731 80 36 . . PUNCT cblr-1731 81 1 7 7 NUM cblr-1731 81 2 see see VERB cblr-1731 81 3 cunningham cunningham PROPN cblr-1731 81 4 , , PUNCT cblr-1731 81 5 berkshire berkshire PROPN cblr-1731 81 6 beyond beyond ADP cblr-1731 81 7 buffett buffett PROPN cblr-1731 81 8 , , PUNCT cblr-1731 81 9 supra supra PROPN cblr-1731 81 10 note note PROPN cblr-1731 81 11 6 6 NUM cblr-1731 81 12 , , PUNCT cblr-1731 81 13 at at ADP cblr-1731 81 14 213 213 NUM cblr-1731 81 15 . . NOUN cblr-1731 81 16 8 8 NUM cblr-1731 81 17 letter letter NOUN cblr-1731 81 18 from from ADP cblr-1731 81 19 warren warren PROPN cblr-1731 81 20 e. e. PROPN cblr-1731 81 21 buffett buffett PROPN cblr-1731 81 22 , , PUNCT cblr-1731 81 23 chairman chairman NOUN cblr-1731 81 24 , , PUNCT cblr-1731 81 25 berkshire berkshire PROPN cblr-1731 81 26 hathaway hathaway PROPN cblr-1731 81 27 , , PUNCT cblr-1731 81 28 inc inc PROPN cblr-1731 81 29 . . PROPN cblr-1731 81 30 , , PUNCT cblr-1731 81 31 to to ADP cblr-1731 81 32 shareholders shareholder NOUN cblr-1731 81 33 of of ADP cblr-1731 81 34 berkshire berkshire PROPN cblr-1731 81 35 hathaway hathaway PROPN cblr-1731 81 36 , , PUNCT cblr-1731 81 37 inc inc PROPN cblr-1731 81 38 . . PROPN cblr-1731 81 39 ( ( PUNCT cblr-1731 81 40 feb feb PROPN cblr-1731 81 41 . . PROPN cblr-1731 81 42 28 28 NUM cblr-1731 81 43 , , PUNCT cblr-1731 81 44 2002 2002 NUM cblr-1731 81 45 ) ) PUNCT cblr-1731 81 46 , , PUNCT cblr-1731 81 47 cunningham cunningham PROPN cblr-1731 81 48 – – PUNCT cblr-1731 81 49 final final ADJ cblr-1731 81 50 10 10 NUM cblr-1731 81 51 columbia columbia PROPN cblr-1731 81 52 business business NOUN cblr-1731 81 53 law law PROPN cblr-1731 81 54 review review NOUN cblr-1731 81 55 [ [ X cblr-1731 81 56 vol vol NOUN cblr-1731 81 57 . . PUNCT cblr-1731 81 58 2016 2016 NUM cblr-1731 81 59 buffett buffett PROPN cblr-1731 81 60 upped up VERB cblr-1731 81 61 the the DET cblr-1731 81 62 ante ante NOUN cblr-1731 81 63 , , PUNCT cblr-1731 81 64 proposing propose VERB cblr-1731 81 65 to to ADP cblr-1731 81 66 xtra xtra PROPN cblr-1731 81 67 ’s ’s PART cblr-1731 81 68 board board NOUN cblr-1731 81 69 the the DET cblr-1731 81 70 making making NOUN cblr-1731 81 71 of of ADP cblr-1731 81 72 a a DET cblr-1731 81 73 tender tender NOUN cblr-1731 81 74 offer offer NOUN cblr-1731 81 75 to to ADP cblr-1731 81 76 its its PRON cblr-1731 81 77 shareholders shareholder NOUN cblr-1731 81 78 , , PUNCT cblr-1731 81 79 which which PRON cblr-1731 81 80 it it PRON cblr-1731 81 81 endorsed endorse VERB cblr-1731 81 82 , , PUNCT cblr-1731 81 83 and and CCONJ cblr-1731 81 84 berkshire berkshire PROPN cblr-1731 81 85 soon soon ADV cblr-1731 81 86 closed close VERB cblr-1731 81 87 the the DET cblr-1731 81 88 deal deal NOUN cblr-1731 81 89 . . PUNCT cblr-1731 82 1 contrary contrary ADJ cblr-1731 82 2 to to ADP cblr-1731 82 3 berkshire berkshire VERB cblr-1731 82 4 ’s ’s PART cblr-1731 82 5 usual usual ADJ cblr-1731 82 6 practice practice NOUN cblr-1731 82 7 of of ADP cblr-1731 82 8 maintaining maintain VERB cblr-1731 82 9 both both CCONJ cblr-1731 82 10 management management NOUN cblr-1731 82 11 and and CCONJ cblr-1731 82 12 operations operation NOUN cblr-1731 82 13 after after ADP cblr-1731 82 14 an an DET cblr-1731 82 15 acquisition acquisition NOUN cblr-1731 82 16 , , PUNCT cblr-1731 82 17 within within ADP cblr-1731 82 18 three three NUM cblr-1731 82 19 years year NOUN cblr-1731 82 20 , , PUNCT cblr-1731 82 21 xtra xtra PROPN cblr-1731 82 22 replaced replace VERB cblr-1731 82 23 its its PRON cblr-1731 82 24 ceo ceo NOUN cblr-1731 82 25 , , PUNCT cblr-1731 82 26 relocated relocate VERB cblr-1731 82 27 its its PRON cblr-1731 82 28 headquarters headquarters NOUN cblr-1731 82 29 , , PUNCT cblr-1731 82 30 and and CCONJ cblr-1731 82 31 divested divest VERB cblr-1731 82 32 a a DET cblr-1731 82 33 large large ADJ cblr-1731 82 34 part part NOUN cblr-1731 82 35 of of ADP cblr-1731 82 36 its its PRON cblr-1731 82 37 asset asset NOUN cblr-1731 82 38 base.9 base.9 NOUN cblr-1731 82 39 while while SCONJ cblr-1731 82 40 such such ADJ cblr-1731 82 41 drastic drastic ADJ cblr-1731 82 42 steps step NOUN cblr-1731 82 43 are be AUX cblr-1731 82 44 commonly commonly ADV cblr-1731 82 45 part part NOUN cblr-1731 82 46 of of ADP cblr-1731 82 47 the the DET cblr-1731 82 48 plan plan NOUN cblr-1731 82 49 of of ADP cblr-1731 82 50 many many ADJ cblr-1731 82 51 corporate corporate ADJ cblr-1731 82 52 acquisitions acquisition NOUN cblr-1731 82 53 , , PUNCT cblr-1731 82 54 they they PRON cblr-1731 82 55 are be AUX cblr-1731 82 56 avoided avoid VERB cblr-1731 82 57 under under ADP cblr-1731 82 58 the the DET cblr-1731 82 59 berkshire berkshire PROPN cblr-1731 82 60 model model NOUN cblr-1731 82 61 . . PUNCT cblr-1731 83 1 so so ADV cblr-1731 83 2 when when SCONJ cblr-1731 83 3 such such ADJ cblr-1731 83 4 steps step NOUN cblr-1731 83 5 are be AUX cblr-1731 83 6 taken take VERB cblr-1731 83 7 at at ADP cblr-1731 83 8 berkshire berkshire NOUN cblr-1731 83 9 — — PUNCT cblr-1731 83 10 in in ADP cblr-1731 83 11 this this DET cblr-1731 83 12 case case NOUN cblr-1731 83 13 to to PART cblr-1731 83 14 reduce reduce VERB cblr-1731 83 15 overhead overhead ADV cblr-1731 83 16 , , PUNCT cblr-1731 83 17 improve improve VERB cblr-1731 83 18 asset asset NOUN cblr-1731 83 19 utilization utilization NOUN cblr-1731 83 20 , , PUNCT cblr-1731 83 21 and and CCONJ cblr-1731 83 22 boost boost VERB cblr-1731 83 23 profits profit NOUN cblr-1731 83 24 — — PUNCT cblr-1731 83 25 they they PRON cblr-1731 83 26 are be AUX cblr-1731 83 27 anomalies anomaly NOUN cblr-1731 83 28 that that PRON cblr-1731 83 29 can can AUX cblr-1731 83 30 prove prove VERB cblr-1731 83 31 costly costly ADJ cblr-1731 83 32 . . PUNCT cblr-1731 84 1 their their PRON cblr-1731 84 2 origin origin NOUN cblr-1731 84 3 is be AUX cblr-1731 84 4 in in ADP cblr-1731 84 5 the the DET cblr-1731 84 6 informality informality NOUN cblr-1731 84 7 of of ADP cblr-1731 84 8 berkshire berkshire NOUN cblr-1731 84 9 acquisitions acquisition NOUN cblr-1731 84 10 , , PUNCT cblr-1731 84 11 especially especially ADV cblr-1731 84 12 spontaneously spontaneously ADV cblr-1731 84 13 acting act VERB cblr-1731 84 14 on on ADP cblr-1731 84 15 tips tip NOUN cblr-1731 84 16 by by ADP cblr-1731 84 17 friends friend NOUN cblr-1731 84 18 and and CCONJ cblr-1731 84 19 associates associate NOUN cblr-1731 84 20 and and CCONJ cblr-1731 84 21 conducting conduct VERB cblr-1731 84 22 scant scant ADJ cblr-1731 84 23 due due ADJ cblr-1731 84 24 diligence diligence NOUN cblr-1731 84 25 . . PUNCT cblr-1731 85 1 while while SCONJ cblr-1731 85 2 xtra xtra PROPN cblr-1731 85 3 turned turn VERB cblr-1731 85 4 out out ADP cblr-1731 85 5 to to PART cblr-1731 85 6 be be AUX cblr-1731 85 7 a a DET cblr-1731 85 8 profitable profitable ADJ cblr-1731 85 9 acquisition acquisition NOUN cblr-1731 85 10 , , PUNCT cblr-1731 85 11 another another DET cblr-1731 85 12 unusual unusual ADJ cblr-1731 85 13 deal deal NOUN cblr-1731 85 14 posed pose VERB cblr-1731 85 15 disastrous disastrous ADJ cblr-1731 85 16 financial financial ADJ cblr-1731 85 17 results result NOUN cblr-1731 85 18 : : PUNCT cblr-1731 85 19 berkshire berkshire NOUN cblr-1731 85 20 ’s ’s PART cblr-1731 85 21 1993 1993 NUM cblr-1731 85 22 acquisition acquisition NOUN cblr-1731 85 23 of of ADP cblr-1731 85 24 dexter dexter PROPN cblr-1731 85 25 shoe shoe PROPN cblr-1731 85 26 . . PUNCT cblr-1731 86 1 berkshire berkshire PROPN cblr-1731 86 2 paid pay VERB cblr-1731 86 3 $ $ SYM cblr-1731 86 4 443 443 NUM cblr-1731 86 5 million million NUM cblr-1731 86 6 — — PUNCT cblr-1731 86 7 all all PRON cblr-1731 86 8 in in ADP cblr-1731 86 9 berkshire berkshire NOUN cblr-1731 86 10 stock stock NOUN cblr-1731 86 11 — — PUNCT cblr-1731 86 12 for for ADP cblr-1731 86 13 the the DET cblr-1731 86 14 dying die VERB cblr-1731 86 15 new new PROPN cblr-1731 86 16 england england PROPN cblr-1731 86 17 shoemaker.10 shoemaker.10 PROPN cblr-1731 86 18 the the DET cblr-1731 86 19 company company NOUN cblr-1731 86 20 had have AUX cblr-1731 86 21 been be AUX cblr-1731 86 22 a a DET cblr-1731 86 23 dynamo dynamo NOUN cblr-1731 86 24 , , PUNCT cblr-1731 86 25 producing produce VERB cblr-1731 86 26 millions million NOUN cblr-1731 86 27 of of ADP cblr-1731 86 28 shoes shoe NOUN cblr-1731 86 29 in in ADP cblr-1731 86 30 local local ADJ cblr-1731 86 31 factories factory NOUN cblr-1731 86 32 annually annually ADV cblr-1731 86 33 . . PUNCT cblr-1731 87 1 dexter dexter PROPN cblr-1731 87 2 maintained maintain VERB cblr-1731 87 3 production production NOUN cblr-1731 87 4 in in ADP cblr-1731 87 5 the the DET cblr-1731 87 6 united united PROPN cblr-1731 87 7 states states PROPN cblr-1731 87 8 , , PUNCT cblr-1731 87 9 paying pay VERB cblr-1731 87 10 higher high ADJ cblr-1731 87 11 wages wage NOUN cblr-1731 87 12 than than ADP cblr-1731 87 13 rivals rival NOUN cblr-1731 87 14 and and CCONJ cblr-1731 87 15 outdid outdo VERB cblr-1731 87 16 imports import NOUN cblr-1731 87 17 from from ADP cblr-1731 87 18 low low ADJ cblr-1731 87 19 - - PUNCT cblr-1731 87 20 wage wage NOUN cblr-1731 87 21 countries country NOUN cblr-1731 87 22 in in ADP cblr-1731 87 23 terms term NOUN cblr-1731 87 24 of of ADP cblr-1731 87 25 quality quality NOUN cblr-1731 87 26 and and CCONJ cblr-1731 87 27 style style NOUN cblr-1731 87 28 . . PUNCT cblr-1731 88 1 despite despite SCONJ cblr-1731 88 2 positive positive ADJ cblr-1731 88 3 traits trait NOUN cblr-1731 88 4 , , PUNCT cblr-1731 88 5 dexter dexter PROPN cblr-1731 88 6 had have VERB cblr-1731 88 7 a a DET cblr-1731 88 8 big big ADJ cblr-1731 88 9 latent latent NOUN cblr-1731 88 10 negative negative NOUN cblr-1731 88 11 : : PUNCT cblr-1731 88 12 manufacturing manufacturing NOUN cblr-1731 88 13 costs cost NOUN cblr-1731 88 14 in in ADP cblr-1731 88 15 the the DET cblr-1731 88 16 united united PROPN cblr-1731 88 17 states states PROPN cblr-1731 88 18 were be AUX cblr-1731 88 19 ten ten NUM cblr-1731 88 20 times times ADP cblr-1731 88 21 those those PRON cblr-1731 88 22 in in ADP cblr-1731 88 23 china.11 china.11 PROPN cblr-1731 88 24 eventually eventually ADV cblr-1731 88 25 , , PUNCT cblr-1731 88 26 rivals rival NOUN cblr-1731 88 27 produced produce VERB cblr-1731 88 28 shoes shoe NOUN cblr-1731 88 29 as as ADV cblr-1731 88 30 good good ADJ cblr-1731 88 31 as as ADP cblr-1731 88 32 dexter dexter NOUN cblr-1731 88 33 ’s ’s PART cblr-1731 89 1 but but CCONJ cblr-1731 89 2 at at ADP cblr-1731 89 3 one one NUM cblr-1731 89 4 - - PUNCT cblr-1731 89 5 tenth tenth NOUN cblr-1731 89 6 the the DET cblr-1731 89 7 cost cost NOUN cblr-1731 89 8 . . 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PUNCT cblr-1731 91 1 9 9 NUM cblr-1731 91 2 see see VERB cblr-1731 91 3 cunningham cunningham PROPN cblr-1731 91 4 , , PUNCT cblr-1731 91 5 berkshire berkshire PROPN cblr-1731 91 6 beyond beyond ADP cblr-1731 91 7 buffett buffett PROPN cblr-1731 91 8 , , PUNCT cblr-1731 91 9 supra supra PROPN cblr-1731 91 10 note note PROPN cblr-1731 91 11 6 6 NUM cblr-1731 91 12 , , PUNCT cblr-1731 91 13 at at ADP cblr-1731 91 14 212 212 NUM cblr-1731 91 15 . . PUNCT cblr-1731 92 1 10 10 NUM cblr-1731 92 2 jonathan jonathan PROPN cblr-1731 92 3 stempel stempel PROPN cblr-1731 92 4 , , PUNCT cblr-1731 92 5 buffett buffett PROPN cblr-1731 92 6 calls call VERB cblr-1731 92 7 dexter dexter PROPN cblr-1731 92 8 shoe shoe PROPN cblr-1731 92 9 his his PRON cblr-1731 92 10 worst bad ADJ cblr-1731 92 11 deal deal NOUN cblr-1731 92 12 ever ever ADV cblr-1731 92 13 , , PUNCT cblr-1731 92 14 reuters reuters PROPN cblr-1731 92 15 ( ( PUNCT cblr-1731 92 16 feb feb PROPN cblr-1731 92 17 . . PROPN cblr-1731 92 18 29 29 NUM cblr-1731 92 19 , , PUNCT cblr-1731 92 20 2008 2008 NUM cblr-1731 92 21 ) ) PUNCT cblr-1731 92 22 , , PUNCT cblr-1731 92 23 http://www.reuters.com/article/2008/03/01/usberkshire-buffett-failure-idusn2921504820080301 http://www.reuters.com/article/2008/03/01/usberkshire-buffett-failure-idusn2921504820080301 X cblr-1731 93 1 [ [ X cblr-1731 93 2 http://perma.cc/a99h4nhe http://perma.cc/a99h4nhe X cblr-1731 93 3 ] ] PUNCT cblr-1731 93 4 . . PUNCT cblr-1731 93 5 11 11 NUM cblr-1731 93 6 see see VERB cblr-1731 93 7 cunningham cunningham PROPN cblr-1731 93 8 , , PUNCT cblr-1731 93 9 berkshire berkshire PROPN cblr-1731 93 10 beyond beyond ADP cblr-1731 93 11 buffett buffett PROPN cblr-1731 93 12 , , PUNCT cblr-1731 93 13 supra supra PROPN cblr-1731 93 14 note note PROPN cblr-1731 93 15 6 6 NUM cblr-1731 93 16 , , PUNCT cblr-1731 93 17 at at ADP cblr-1731 93 18 29 29 NUM cblr-1731 93 19 . . PUNCT cblr-1731 93 20 12 12 NUM cblr-1731 93 21 stempel stempel NOUN cblr-1731 93 22 , , PUNCT cblr-1731 93 23 supra supra PROPN cblr-1731 93 24 note note NOUN cblr-1731 93 25 10 10 NUM cblr-1731 93 26 . . PUNCT cblr-1731 94 1 cunningham cunningham PROPN cblr-1731 94 2 – – PUNCT cblr-1731 94 3 final final ADJ cblr-1731 94 4 no no NOUN cblr-1731 94 5 . . NOUN cblr-1731 94 6 1:1 1:1 NUM cblr-1731 94 7 ] ] PUNCT cblr-1731 94 8 berkshire berkshire PROPN cblr-1731 94 9 ’s ’s PART cblr-1731 94 10 blemishes blemish NOUN cblr-1731 94 11 11 11 NUM cblr-1731 94 12 the the DET cblr-1731 94 13 berkshire berkshire PROPN cblr-1731 94 14 stock stock PROPN cblr-1731 94 15 surrendered surrender VERB cblr-1731 94 16 , , PUNCT cblr-1731 94 17 by by ADP cblr-1731 94 18 2015 2015 NUM cblr-1731 94 19 nearing near VERB cblr-1731 94 20 an an DET cblr-1731 94 21 eyepopping eyepoppe VERB cblr-1731 94 22 $ $ SYM cblr-1731 94 23 6 6 NUM cblr-1731 94 24 billion billion NUM cblr-1731 94 25 , , PUNCT cblr-1731 94 26 teaching teach VERB cblr-1731 94 27 the the DET cblr-1731 94 28 perils peril NOUN cblr-1731 94 29 of of ADP cblr-1731 94 30 using use VERB cblr-1731 94 31 a a DET cblr-1731 94 32 high high ADJ cblr-1731 94 33 quality quality NOUN cblr-1731 94 34 stock stock NOUN cblr-1731 94 35 like like ADP cblr-1731 94 36 berkshire berkshire NOUN cblr-1731 94 37 to to PART cblr-1731 94 38 acquire acquire VERB cblr-1731 94 39 businesses.13 businesses.13 PROPN cblr-1731 94 40 buffett buffett PROPN cblr-1731 94 41 alone alone ADV cblr-1731 94 42 made make VERB cblr-1731 94 43 the the DET cblr-1731 94 44 mistake mistake NOUN cblr-1731 94 45 — — PUNCT cblr-1731 94 46 without without ADP cblr-1731 94 47 input input NOUN cblr-1731 94 48 from from ADP cblr-1731 94 49 the the DET cblr-1731 94 50 berkshire berkshire PROPN cblr-1731 94 51 board board NOUN cblr-1731 94 52 or or CCONJ cblr-1731 94 53 his his PRON cblr-1731 94 54 inner inner ADJ cblr-1731 94 55 circle circle NOUN cblr-1731 94 56 . . 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PUNCT cblr-1731 97 1 but but CCONJ cblr-1731 97 2 while while SCONJ cblr-1731 97 3 buffett buffett PROPN cblr-1731 97 4 values values PROPN cblr-1731 97 5 munger munger PROPN cblr-1731 97 6 ’s ’s PART cblr-1731 97 7 counsel counsel NOUN cblr-1731 97 8 to to PART cblr-1731 97 9 veto veto VERB cblr-1731 97 10 a a DET cblr-1731 97 11 deal deal NOUN cblr-1731 97 12 — — PUNCT cblr-1731 97 13 earning earn VERB cblr-1731 97 14 munger munger NOUN cblr-1731 97 15 the the DET cblr-1731 97 16 nickname nickname NOUN cblr-1731 97 17 the the DET cblr-1731 97 18 “ " PUNCT cblr-1731 97 19 abominable abominable ADJ cblr-1731 97 20 no no DET cblr-1731 97 21 man”—buffett man”—buffett NOUN cblr-1731 97 22 has have AUX cblr-1731 97 23 not not PART cblr-1731 97 24 always always ADV cblr-1731 97 25 listened listen VERB cblr-1731 97 26 , , PUNCT cblr-1731 97 27 as as ADP cblr-1731 97 28 the the DET cblr-1731 97 29 even even ADV cblr-1731 97 30 more more ADV cblr-1731 97 31 costly costly ADJ cblr-1731 97 32 acquisition acquisition NOUN cblr-1731 97 33 of of ADP cblr-1731 97 34 gen gen PROPN cblr-1731 97 35 re re X cblr-1731 97 36 attests attest NOUN cblr-1731 97 37 . . PUNCT cblr-1731 98 1 in in ADP cblr-1731 98 2 1999 1999 NUM cblr-1731 98 3 , , PUNCT cblr-1731 98 4 berkshire berkshire NOUN cblr-1731 98 5 paid pay VERB cblr-1731 98 6 $ $ SYM cblr-1731 98 7 22 22 NUM cblr-1731 98 8 billion billion NUM cblr-1731 98 9 for for ADP cblr-1731 98 10 gen gen PROPN cblr-1731 98 11 re re X cblr-1731 98 12 — — PUNCT cblr-1731 98 13 all all PRON cblr-1731 98 14 in in ADP cblr-1731 98 15 berkshire berkshire NOUN cblr-1731 98 16 stock stock NOUN cblr-1731 98 17 ( ( PUNCT cblr-1731 98 18 the the DET cblr-1731 98 19 lesson lesson NOUN cblr-1731 98 20 from from ADP cblr-1731 98 21 dexter dexter PROPN cblr-1731 98 22 to to PART cblr-1731 98 23 avoid avoid VERB cblr-1731 98 24 paying pay VERB cblr-1731 98 25 in in ADP cblr-1731 98 26 stock stock NOUN cblr-1731 98 27 did do AUX cblr-1731 98 28 not not PART cblr-1731 98 29 appear appear VERB cblr-1731 98 30 until until SCONJ cblr-1731 98 31 2007).14 2007).14 PROPN cblr-1731 98 32 buffett buffett PROPN cblr-1731 98 33 and and CCONJ cblr-1731 98 34 munger munger PROPN cblr-1731 98 35 knew know VERB cblr-1731 98 36 that that SCONJ cblr-1731 98 37 gen gen PROPN cblr-1731 98 38 re re PROPN cblr-1731 98 39 , , PUNCT cblr-1731 98 40 a a DET cblr-1731 98 41 large large ADJ cblr-1731 98 42 reinsurer reinsurer NOUN cblr-1731 98 43 , , PUNCT cblr-1731 98 44 maintained maintain VERB cblr-1731 98 45 a a DET cblr-1731 98 46 significant significant ADJ cblr-1731 98 47 derivatives derivative NOUN cblr-1731 98 48 business business NOUN cblr-1731 98 49 that that PRON cblr-1731 98 50 posed pose VERB cblr-1731 98 51 considerable considerable ADJ cblr-1731 98 52 risk risk NOUN cblr-1731 98 53 . . PUNCT cblr-1731 99 1 while while SCONJ cblr-1731 99 2 munger munger PROPN cblr-1731 99 3 suggested suggest VERB cblr-1731 99 4 avoiding avoid VERB cblr-1731 99 5 the the DET cblr-1731 99 6 deal deal NOUN cblr-1731 99 7 , , PUNCT cblr-1731 99 8 buffett buffett PROPN cblr-1731 99 9 figured figure VERB cblr-1731 99 10 he he PRON cblr-1731 99 11 would would AUX cblr-1731 99 12 direct direct VERB cblr-1731 99 13 managers manager NOUN cblr-1731 99 14 to to PART cblr-1731 99 15 close close VERB cblr-1731 99 16 that that DET cblr-1731 99 17 business business NOUN cblr-1731 99 18 unit unit NOUN cblr-1731 99 19 promptly promptly ADV cblr-1731 99 20 after after ADP cblr-1731 99 21 closing close VERB cblr-1731 99 22 the the DET cblr-1731 99 23 deal deal NOUN cblr-1731 99 24 . . PUNCT cblr-1731 100 1 but but CCONJ cblr-1731 100 2 once once ADV cblr-1731 100 3 berkshire berkshire NOUN cblr-1731 100 4 acquired acquire VERB cblr-1731 100 5 gen gen PROPN cblr-1731 100 6 re re PROPN cblr-1731 100 7 , , PUNCT cblr-1731 100 8 the the DET cblr-1731 100 9 managers manager NOUN cblr-1731 100 10 did do AUX cblr-1731 100 11 not not PART cblr-1731 100 12 do do VERB cblr-1731 100 13 so so ADV cblr-1731 100 14 and and CCONJ cblr-1731 100 15 , , PUNCT cblr-1731 100 16 consistent consistent ADJ cblr-1731 100 17 with with ADP cblr-1731 100 18 buffett buffett PROPN cblr-1731 100 19 ’s ’s PART cblr-1731 100 20 hands hand NOUN cblr-1731 100 21 - - PUNCT cblr-1731 100 22 off off ADP cblr-1731 100 23 approach approach NOUN cblr-1731 100 24 , , PUNCT cblr-1731 100 25 he he PRON cblr-1731 100 26 did do AUX cblr-1731 100 27 not not PART cblr-1731 100 28 push push VERB cblr-1731 100 29 them they PRON cblr-1731 100 30 ( ( PUNCT cblr-1731 100 31 such such ADJ cblr-1731 100 32 reluctance reluctance NOUN cblr-1731 100 33 underscores underscore VERB cblr-1731 100 34 how how SCONJ cblr-1731 100 35 unusual unusual ADJ cblr-1731 100 36 the the DET cblr-1731 100 37 post post ADJ cblr-1731 100 38 - - ADJ cblr-1731 100 39 acquisition acquisition ADJ cblr-1731 100 40 shuffles shuffle NOUN cblr-1731 100 41 at at ADP cblr-1731 100 42 xtra xtra PROPN cblr-1731 100 43 were).15 were).15 PROPN cblr-1731 100 44 besides besides SCONJ cblr-1731 100 45 patent patent NOUN cblr-1731 100 46 problems problem NOUN cblr-1731 100 47 of of ADP cblr-1731 100 48 the the DET cblr-1731 100 49 derivatives derivative NOUN cblr-1731 100 50 business business NOUN cblr-1731 100 51 , , PUNCT cblr-1731 100 52 more more ADJ cblr-1731 100 53 latent latent NOUN cblr-1731 100 54 challenges challenge NOUN cblr-1731 100 55 also also ADV cblr-1731 100 56 beset beset VERB cblr-1731 100 57 gen gen PROPN cblr-1731 100 58 re re NOUN cblr-1731 100 59 ’s ’s PART cblr-1731 100 60 wider wide ADJ cblr-1731 100 61 operations operation NOUN cblr-1731 100 62 . . PUNCT cblr-1731 101 1 buffett buffett PROPN cblr-1731 101 2 had have AUX cblr-1731 101 3 known know VERB cblr-1731 101 4 ronald ronald PROPN cblr-1731 101 5 ferguson ferguson PROPN cblr-1731 101 6 , , PUNCT cblr-1731 101 7 gen gen PROPN cblr-1731 101 8 re re PROPN cblr-1731 101 9 ’s ’s NOUN cblr-1731 101 10 chief chief ADJ cblr-1731 101 11 executive executive NOUN cblr-1731 101 12 , , PUNCT cblr-1731 101 13 for for ADP cblr-1731 101 14 many many ADJ cblr-1731 101 15 years year NOUN cblr-1731 101 16 , , PUNCT cblr-1731 101 17 and and CCONJ cblr-1731 101 18 apparently apparently ADV cblr-1731 101 19 relied rely VERB cblr-1731 101 20 heavily heavily ADV cblr-1731 101 21 on on ADP cblr-1731 101 22 ferguson ferguson PROPN cblr-1731 101 23 ’s ’s PART cblr-1731 101 24 personal personal ADJ cblr-1731 101 25 knowledge knowledge NOUN cblr-1731 101 26 and and CCONJ cblr-1731 101 27 experience experience NOUN cblr-1731 101 28 . . 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PROPN cblr-1731 105 8 buffett buffett PROPN cblr-1731 105 9 & & CCONJ cblr-1731 105 10 lawrence lawrence PROPN cblr-1731 105 11 a. a. PROPN cblr-1731 105 12 cunningham cunningham PROPN cblr-1731 105 13 , , PUNCT cblr-1731 105 14 the the DET cblr-1731 105 15 essays essay NOUN cblr-1731 105 16 of of ADP cblr-1731 105 17 warren warren PROPN cblr-1731 105 18 buffett buffett PROPN cblr-1731 105 19 : : PUNCT cblr-1731 105 20 lessons lesson NOUN cblr-1731 105 21 for for ADP cblr-1731 105 22 corporate corporate ADJ cblr-1731 105 23 america america PROPN cblr-1731 105 24 151 151 NUM cblr-1731 105 25 , , PUNCT cblr-1731 105 26 155–57 155–57 NUM cblr-1731 105 27 ( ( PUNCT cblr-1731 105 28 4th 4th ADJ cblr-1731 105 29 ed ed NOUN cblr-1731 105 30 . . PROPN cblr-1731 105 31 2016 2016 NUM cblr-1731 105 32 ) ) PUNCT cblr-1731 106 1 [ [ X cblr-1731 106 2 hereinafter hereinafter VERB cblr-1731 106 3 the the DET cblr-1731 106 4 essays essay NOUN cblr-1731 106 5 of of ADP cblr-1731 106 6 warren warren PROPN cblr-1731 106 7 buffett buffett PROPN cblr-1731 106 8 ] ] PUNCT cblr-1731 106 9 . . PUNCT cblr-1731 107 1 cunningham cunningham PROPN cblr-1731 107 2 – – PUNCT cblr-1731 107 3 final final ADJ cblr-1731 107 4 12 12 NUM cblr-1731 107 5 columbia columbia PROPN cblr-1731 107 6 business business NOUN cblr-1731 107 7 law law PROPN cblr-1731 107 8 review review NOUN cblr-1731 108 1 [ [ X cblr-1731 108 2 vol vol NOUN cblr-1731 108 3 . . NOUN cblr-1731 108 4 2016 2016 NUM cblr-1731 108 5 re re VERB cblr-1731 108 6 ’s ’s NOUN cblr-1731 108 7 underwriting underwriting NOUN cblr-1731 108 8 discipline discipline NOUN cblr-1731 108 9 and and CCONJ cblr-1731 108 10 reserving reserving NOUN cblr-1731 108 11 had have VERB cblr-1731 108 12 slipped.16 slipped.16 NOUN cblr-1731 108 13 it it PRON cblr-1731 108 14 had have VERB cblr-1731 108 15 under under ADV cblr-1731 108 16 - - PUNCT cblr-1731 108 17 reserved reserve VERB cblr-1731 108 18 for for ADP cblr-1731 108 19 risks risk NOUN cblr-1731 108 20 it it PRON cblr-1731 108 21 covered cover VERB cblr-1731 108 22 , , PUNCT cblr-1731 108 23 which which PRON cblr-1731 108 24 underwriters underwriter NOUN cblr-1731 108 25 translated translate VERB cblr-1731 108 26 into into ADP cblr-1731 108 27 low low ADJ cblr-1731 108 28 prices price NOUN cblr-1731 108 29 on on ADP cblr-1731 108 30 subsequent subsequent ADJ cblr-1731 108 31 policies policy NOUN cblr-1731 108 32 . . PUNCT cblr-1731 109 1 the the DET cblr-1731 109 2 firm firm NOUN cblr-1731 109 3 pursued pursue VERB cblr-1731 109 4 business business NOUN cblr-1731 109 5 it it PRON cblr-1731 109 6 should should AUX cblr-1731 109 7 have have AUX cblr-1731 109 8 rejected reject VERB cblr-1731 109 9 , , PUNCT cblr-1731 109 10 including include VERB cblr-1731 109 11 undue undue ADJ cblr-1731 109 12 concentration concentration NOUN cblr-1731 109 13 in in ADP cblr-1731 109 14 particular particular ADJ cblr-1731 109 15 risks risk NOUN cblr-1731 109 16 . . PUNCT cblr-1731 110 1 from from ADP cblr-1731 110 2 1999 1999 NUM cblr-1731 110 3 to to ADP cblr-1731 110 4 2001 2001 NUM cblr-1731 110 5 , , PUNCT cblr-1731 110 6 gen gen PROPN cblr-1731 110 7 re re VERB cblr-1731 110 8 incurred incur VERB cblr-1731 110 9 underwriting underwriting NOUN cblr-1731 110 10 losses loss NOUN cblr-1731 110 11 totaling total VERB cblr-1731 110 12 $ $ SYM cblr-1731 110 13 6.1 6.1 NUM cblr-1731 110 14 billion billion NUM cblr-1731 110 15 ; ; PUNCT cblr-1731 110 16 unwinding unwind VERB cblr-1731 110 17 the the DET cblr-1731 110 18 derivatives derivative NOUN cblr-1731 110 19 business business NOUN cblr-1731 110 20 was be AUX cblr-1731 110 21 both both CCONJ cblr-1731 110 22 costly costly ADJ cblr-1731 110 23 and and CCONJ cblr-1731 110 24 protracted protract VERB cblr-1731 110 25 , , PUNCT cblr-1731 110 26 causing cause VERB cblr-1731 110 27 buffett buffett PROPN cblr-1731 110 28 angst angst NOUN cblr-1731 110 29 for for ADP cblr-1731 110 30 many many ADJ cblr-1731 110 31 years.17 years.17 ADJ cblr-1731 110 32 berkshire berkshire NOUN cblr-1731 110 33 shareholders shareholder NOUN cblr-1731 110 34 voted vote VERB cblr-1731 110 35 to to PART cblr-1731 110 36 approve approve VERB cblr-1731 110 37 the the DET cblr-1731 110 38 gen gen PROPN cblr-1731 110 39 re re X cblr-1731 110 40 transaction,18 transaction,18 X cblr-1731 110 41 a a DET cblr-1731 110 42 vote vote NOUN cblr-1731 110 43 required require VERB cblr-1731 110 44 because because SCONJ cblr-1731 110 45 it it PRON cblr-1731 110 46 was be AUX cblr-1731 110 47 structured structure VERB cblr-1731 110 48 as as ADP cblr-1731 110 49 a a DET cblr-1731 110 50 merger merger NOUN cblr-1731 110 51 , , PUNCT cblr-1731 110 52 with with ADP cblr-1731 110 53 berkshire berkshire NOUN cblr-1731 110 54 transferring transfer VERB cblr-1731 110 55 shares share NOUN cblr-1731 110 56 to to ADP cblr-1731 110 57 gen gen PROPN cblr-1731 110 58 re re X cblr-1731 110 59 holders holder NOUN cblr-1731 110 60 — — PUNCT cblr-1731 110 61 unusual unusual ADJ cblr-1731 110 62 features feature NOUN cblr-1731 110 63 for for ADP cblr-1731 110 64 a a DET cblr-1731 110 65 berkshire berkshire NOUN cblr-1731 110 66 deal deal NOUN cblr-1731 110 67 , , PUNCT cblr-1731 110 68 most most ADJ cblr-1731 110 69 of of ADP cblr-1731 110 70 which which PRON cblr-1731 110 71 are be AUX cblr-1731 110 72 acquisitions acquisition NOUN cblr-1731 110 73 for for ADP cblr-1731 110 74 cash cash NOUN cblr-1731 110 75 , , PUNCT cblr-1731 110 76 which which PRON cblr-1731 110 77 do do AUX cblr-1731 110 78 not not PART cblr-1731 110 79 require require VERB cblr-1731 110 80 shareholder shareholder NOUN cblr-1731 110 81 approval approval NOUN cblr-1731 110 82 . . PUNCT cblr-1731 111 1 while while SCONJ cblr-1731 111 2 shareholder shareholder NOUN cblr-1731 111 3 votes vote NOUN cblr-1731 111 4 can can AUX cblr-1731 111 5 check check VERB cblr-1731 111 6 improvident improvident ADJ cblr-1731 111 7 deals deal NOUN cblr-1731 111 8 , , PUNCT cblr-1731 111 9 the the DET cblr-1731 111 10 berkshire berkshire NOUN cblr-1731 111 11 - - PUNCT cblr-1731 111 12 gen gen PROPN cblr-1731 111 13 re re PROPN cblr-1731 111 14 merger merger NOUN cblr-1731 111 15 sailed sail VERB cblr-1731 111 16 through through ADV cblr-1731 111 17 . . PUNCT cblr-1731 112 1 true true ADJ cblr-1731 112 2 , , PUNCT cblr-1731 112 3 shareholders shareholder NOUN cblr-1731 112 4 of of ADP cblr-1731 112 5 many many ADJ cblr-1731 112 6 companies company NOUN cblr-1731 112 7 often often ADV cblr-1731 112 8 approve approve VERB cblr-1731 112 9 improvident improvident ADJ cblr-1731 112 10 mergers merger NOUN cblr-1731 112 11 due due ADP cblr-1731 112 12 to to ADP cblr-1731 112 13 ignorance ignorance NOUN cblr-1731 112 14 or or CCONJ cblr-1731 112 15 apathy apathy NOUN cblr-1731 112 16 , , PUNCT cblr-1731 112 17 but but CCONJ cblr-1731 112 18 berkshire berkshire NOUN cblr-1731 112 19 shareholders shareholder NOUN cblr-1731 112 20 are be AUX cblr-1731 112 21 savvy savvy ADJ cblr-1731 112 22 and and CCONJ cblr-1731 112 23 seen see VERB cblr-1731 112 24 as as ADP cblr-1731 112 25 partners partner NOUN cblr-1731 112 26 . . PUNCT cblr-1731 113 1 yet yet ADV cblr-1731 113 2 , , PUNCT cblr-1731 113 3 despite despite SCONJ cblr-1731 113 4 such such ADJ cblr-1731 113 5 hallmarks hallmark NOUN cblr-1731 113 6 , , PUNCT cblr-1731 113 7 berkshire berkshire PROPN cblr-1731 113 8 ’s ’s PART cblr-1731 113 9 shareholders shareholder NOUN cblr-1731 113 10 remain remain VERB cblr-1731 113 11 holders holder NOUN cblr-1731 113 12 of of ADP cblr-1731 113 13 corporate corporate ADJ cblr-1731 113 14 equity equity NOUN cblr-1731 113 15 , , PUNCT cblr-1731 113 16 not not PART cblr-1731 113 17 partners partner NOUN cblr-1731 113 18 , , PUNCT cblr-1731 113 19 and and CCONJ cblr-1731 113 20 are be AUX cblr-1731 113 21 therefore therefore ADV cblr-1731 113 22 prone prone ADJ cblr-1731 113 23 to to ADP cblr-1731 113 24 error error NOUN cblr-1731 113 25 . . PUNCT cblr-1731 114 1 thus thus ADV cblr-1731 114 2 , , PUNCT cblr-1731 114 3 there there PRON cblr-1731 114 4 is be VERB cblr-1731 114 5 a a DET cblr-1731 114 6 cost cost NOUN cblr-1731 114 7 of of ADP cblr-1731 114 8 overstating overstate VERB cblr-1731 114 9 the the DET cblr-1731 114 10 significance significance NOUN cblr-1731 114 11 of of ADP cblr-1731 114 12 berkshire berkshire NOUN cblr-1731 114 13 ’s ’s PART cblr-1731 114 14 shareholder shareholder NOUN cblr-1731 114 15 body body NOUN cblr-1731 114 16 . . PUNCT cblr-1731 115 1 the the DET cblr-1731 115 2 16 16 NUM cblr-1731 115 3 oversight oversight NOUN cblr-1731 115 4 may may AUX cblr-1731 115 5 have have AUX cblr-1731 115 6 been be AUX cblr-1731 115 7 lax lax ADJ cblr-1731 115 8 too too ADV cblr-1731 115 9 , , PUNCT cblr-1731 115 10 as as ADP cblr-1731 115 11 a a DET cblr-1731 115 12 subsequent subsequent ADJ cblr-1731 115 13 criminal criminal ADJ cblr-1731 115 14 case case NOUN cblr-1731 115 15 against against ADP cblr-1731 115 16 ferguson ferguson PROPN cblr-1731 115 17 and and CCONJ cblr-1731 115 18 other other ADJ cblr-1731 115 19 gen gen PROPN cblr-1731 116 1 re re PUNCT cblr-1731 116 2 executives executive NOUN cblr-1731 116 3 questioned question VERB cblr-1731 116 4 the the DET cblr-1731 116 5 legitimacy legitimacy NOUN cblr-1731 116 6 of of ADP cblr-1731 116 7 a a DET cblr-1731 116 8 high high ADJ cblr-1731 116 9 - - PUNCT cblr-1731 116 10 level level NOUN cblr-1731 116 11 insurance insurance NOUN cblr-1731 116 12 contract contract NOUN cblr-1731 116 13 that that PRON cblr-1731 116 14 , , PUNCT cblr-1731 116 15 prosecutors prosecutor NOUN cblr-1731 116 16 said say VERB cblr-1731 116 17 , , PUNCT cblr-1731 116 18 was be AUX cblr-1731 116 19 arranged arrange VERB cblr-1731 116 20 to to PART cblr-1731 116 21 facilitate facilitate VERB cblr-1731 116 22 financial financial ADJ cblr-1731 116 23 fraud fraud NOUN cblr-1731 116 24 by by ADP cblr-1731 116 25 the the DET cblr-1731 116 26 counterparty counterparty NOUN cblr-1731 116 27 , , PUNCT cblr-1731 116 28 american american PROPN cblr-1731 116 29 international international PROPN cblr-1731 116 30 group group NOUN cblr-1731 116 31 ( ( PUNCT cblr-1731 116 32 “ " PUNCT cblr-1731 116 33 aig aig PROPN cblr-1731 116 34 ” " PUNCT cblr-1731 116 35 ) ) PUNCT cblr-1731 116 36 . . PUNCT cblr-1731 117 1 see see VERB cblr-1731 117 2 noah noah PROPN cblr-1731 117 3 a. a. PROPN cblr-1731 117 4 gold gold PROPN cblr-1731 117 5 , , PUNCT cblr-1731 117 6 corporate corporate ADJ cblr-1731 117 7 criminal criminal ADJ cblr-1731 117 8 liability liability NOUN cblr-1731 117 9 : : PUNCT cblr-1731 117 10 cooperate cooperate VERB cblr-1731 117 11 , , PUNCT cblr-1731 117 12 and and CCONJ cblr-1731 117 13 you you PRON cblr-1731 117 14 wo will AUX cblr-1731 117 15 n’t not PART cblr-1731 117 16 be be AUX cblr-1731 117 17 indicted indict VERB cblr-1731 117 18 , , PUNCT cblr-1731 117 19 8 8 NUM cblr-1731 117 20 geo geo PROPN cblr-1731 117 21 . . PROPN cblr-1731 117 22 j.l j.l PROPN cblr-1731 117 23 . . PROPN cblr-1731 117 24 & & CCONJ cblr-1731 117 25 pub pub PROPN cblr-1731 117 26 . . PUNCT cblr-1731 118 1 pol’y pol’y NOUN cblr-1731 118 2 147 147 NUM cblr-1731 118 3 , , PUNCT cblr-1731 118 4 148–52 148–52 NUM cblr-1731 118 5 ( ( PUNCT cblr-1731 118 6 2010 2010 NUM cblr-1731 118 7 ) ) PUNCT cblr-1731 118 8 . . PUNCT cblr-1731 119 1 the the DET cblr-1731 119 2 case case NOUN cblr-1731 119 3 led lead VERB cblr-1731 119 4 to to ADP cblr-1731 119 5 the the DET cblr-1731 119 6 resignation resignation NOUN cblr-1731 119 7 of of ADP cblr-1731 119 8 both both CCONJ cblr-1731 119 9 ferguson ferguson PROPN cblr-1731 119 10 and and CCONJ cblr-1731 119 11 his his PRON cblr-1731 119 12 successor successor NOUN cblr-1731 119 13 , , PUNCT cblr-1731 119 14 joseph joseph PROPN cblr-1731 119 15 brandon brandon PROPN cblr-1731 119 16 . . PUNCT cblr-1731 120 1 i i PRON cblr-1731 120 2 d. d. PROPN cblr-1731 120 3 in in ADP cblr-1731 120 4 a a DET cblr-1731 120 5 book book NOUN cblr-1731 120 6 i i PRON cblr-1731 120 7 wrote write VERB cblr-1731 120 8 with with ADP cblr-1731 120 9 former former ADJ cblr-1731 120 10 aig aig PROPN cblr-1731 120 11 chairman chairman PROPN cblr-1731 120 12 hank hank PROPN cblr-1731 120 13 greenberg greenberg PROPN cblr-1731 120 14 , , PUNCT cblr-1731 120 15 however however ADV cblr-1731 120 16 , , PUNCT cblr-1731 120 17 we we PRON cblr-1731 120 18 explained explain VERB cblr-1731 120 19 why why SCONJ cblr-1731 120 20 such such ADJ cblr-1731 120 21 allegations allegation NOUN cblr-1731 120 22 were be AUX cblr-1731 120 23 without without ADP cblr-1731 120 24 merit merit NOUN cblr-1731 120 25 and and CCONJ cblr-1731 120 26 the the DET cblr-1731 120 27 related related ADJ cblr-1731 120 28 investigations investigation NOUN cblr-1731 120 29 flawed flaw VERB cblr-1731 120 30 . . PUNCT cblr-1731 121 1 maurice maurice PROPN cblr-1731 121 2 r. r. PROPN cblr-1731 121 3 greenberg greenberg PROPN cblr-1731 121 4 & & CCONJ cblr-1731 121 5 lawrence lawrence PROPN cblr-1731 121 6 a. a. PROPN cblr-1731 121 7 cunningham cunningham PROPN cblr-1731 121 8 , , PUNCT cblr-1731 121 9 the the DET cblr-1731 121 10 aig aig PROPN cblr-1731 121 11 story story NOUN cblr-1731 121 12 177–79 177–79 NUM cblr-1731 121 13 , , PUNCT cblr-1731 121 14 185 185 NUM cblr-1731 121 15 ( ( PUNCT cblr-1731 121 16 2013 2013 NUM cblr-1731 121 17 ) ) PUNCT cblr-1731 121 18 . . PUNCT cblr-1731 122 1 17 17 NUM cblr-1731 122 2 mark mark PROPN cblr-1731 122 3 a. a. PROPN cblr-1731 122 4 hoffman hoffman PROPN cblr-1731 122 5 , , PUNCT cblr-1731 122 6 warren warren PROPN cblr-1731 122 7 buffett buffett PROPN cblr-1731 122 8 accepts accept VERB cblr-1731 122 9 blame blame NOUN cblr-1731 122 10 for for ADP cblr-1731 122 11 general general ADJ cblr-1731 122 12 re re PROPN cblr-1731 122 13 ’s ’s NOUN cblr-1731 122 14 poor poor ADJ cblr-1731 122 15 results result NOUN cblr-1731 122 16 , , PUNCT cblr-1731 122 17 bus bus NOUN cblr-1731 122 18 . . PUNCT cblr-1731 123 1 ins ins PROPN cblr-1731 123 2 . . PUNCT cblr-1731 124 1 ( ( PUNCT cblr-1731 124 2 mar mar PROPN cblr-1731 124 3 . . PROPN cblr-1731 124 4 17 17 NUM cblr-1731 124 5 , , PUNCT cblr-1731 124 6 2002 2002 NUM cblr-1731 124 7 ) ) PUNCT cblr-1731 124 8 , , PUNCT cblr-1731 124 9 http://www.businessinsurance http://www.businessinsurance PROPN cblr-1731 124 10 .com .com PROPN cblr-1731 124 11 / / SYM cblr-1731 124 12 article/20020317 article/20020317 ADJ cblr-1731 124 13 / / SYM cblr-1731 124 14 issue01/10009254 issue01/10009254 PROPN cblr-1731 124 15 / / SYM cblr-1731 124 16 warren warren PROPN cblr-1731 124 17 - - PUNCT cblr-1731 124 18 buffett buffett PROPN cblr-1731 124 19 - - PUNCT cblr-1731 124 20 accepts accept VERB cblr-1731 124 21 - - PUNCT cblr-1731 124 22 blamefor blamefor ADP cblr-1731 124 23 - - PUNCT cblr-1731 124 24 general general ADJ cblr-1731 124 25 - - PUNCT cblr-1731 124 26 res re NOUN cblr-1731 124 27 - - PUNCT cblr-1731 124 28 poor poor ADJ cblr-1731 124 29 - - PUNCT cblr-1731 124 30 results result NOUN cblr-1731 125 1 [ [ X cblr-1731 125 2 http://perma.cc/p2x5-zc4p http://perma.cc/p2x5-zc4p X cblr-1731 125 3 ] ] X cblr-1731 125 4 ; ; PUNCT cblr-1731 125 5 steve steve PROPN cblr-1731 125 6 jordon jordon PROPN cblr-1731 125 7 , , PUNCT cblr-1731 125 8 general general ADJ cblr-1731 125 9 re re VERB cblr-1731 125 10 is be AUX cblr-1731 125 11 the the DET cblr-1731 125 12 key key NOUN cblr-1731 125 13 to to ADP cblr-1731 125 14 berkshire berkshire PROPN cblr-1731 125 15 ’s ’s PART cblr-1731 125 16 ignition ignition NOUN cblr-1731 125 17 , , PUNCT cblr-1731 125 18 underwriting underwriting NOUN cblr-1731 125 19 losses loss NOUN cblr-1731 125 20 , , PUNCT cblr-1731 125 21 omaha omaha NOUN cblr-1731 125 22 world world PROPN cblr-1731 125 23 - - PUNCT cblr-1731 125 24 herald herald PROPN cblr-1731 125 25 , , PUNCT cblr-1731 125 26 apr apr PROPN cblr-1731 125 27 . . PROPN cblr-1731 125 28 28 28 NUM cblr-1731 125 29 , , PUNCT cblr-1731 125 30 2002 2002 NUM cblr-1731 125 31 , , PUNCT cblr-1731 125 32 at at ADP cblr-1731 125 33 1 1 NUM cblr-1731 125 34 . . SYM cblr-1731 125 35 18 18 NUM cblr-1731 125 36 press press NOUN cblr-1731 125 37 release release NOUN cblr-1731 125 38 , , PUNCT cblr-1731 125 39 berkshire berkshire PROPN cblr-1731 125 40 hathaway hathaway PROPN cblr-1731 125 41 , , PUNCT cblr-1731 125 42 supra supra PROPN cblr-1731 125 43 note note PROPN cblr-1731 125 44 14 14 NUM cblr-1731 125 45 . . PUNCT cblr-1731 126 1 cunningham cunningham PROPN cblr-1731 126 2 – – PUNCT cblr-1731 126 3 final final ADJ cblr-1731 126 4 no no NOUN cblr-1731 126 5 . . NOUN cblr-1731 126 6 1:1 1:1 NUM cblr-1731 126 7 ] ] PUNCT cblr-1731 126 8 berkshire berkshire PROPN cblr-1731 126 9 ’s ’s PART cblr-1731 126 10 blemishes blemish NOUN cblr-1731 126 11 13 13 NUM cblr-1731 126 12 shareholders shareholder NOUN cblr-1731 126 13 can can AUX cblr-1731 126 14 not not PART cblr-1731 126 15 be be AUX cblr-1731 126 16 counted count VERB cblr-1731 126 17 on on ADP cblr-1731 126 18 to to PART cblr-1731 126 19 veto veto VERB cblr-1731 126 20 improvident improvident ADJ cblr-1731 126 21 deals deal NOUN cblr-1731 126 22 buffett buffett PROPN cblr-1731 126 23 proposes propose VERB cblr-1731 126 24 . . PUNCT cblr-1731 127 1 munger munger PROPN cblr-1731 127 2 is be AUX cblr-1731 127 3 not not PART cblr-1731 127 4 only only ADV cblr-1731 127 5 influential influential ADJ cblr-1731 127 6 , , PUNCT cblr-1731 127 7 sometimes sometimes ADV cblr-1731 127 8 vetoing veto VERB cblr-1731 127 9 deals deal NOUN cblr-1731 127 10 , , PUNCT cblr-1731 127 11 but but CCONJ cblr-1731 127 12 deferential deferential ADJ cblr-1731 127 13 , , PUNCT cblr-1731 127 14 when when SCONJ cblr-1731 127 15 buffett buffett PROPN cblr-1731 127 16 wishes wish VERB cblr-1731 127 17 to to PART cblr-1731 127 18 proceed proceed VERB cblr-1731 127 19 anyway anyway ADV cblr-1731 127 20 . . PUNCT cblr-1731 128 1 in in ADP cblr-1731 128 2 2007 2007 NUM cblr-1731 128 3 , , PUNCT cblr-1731 128 4 buffett buffett PROPN cblr-1731 128 5 invested invest VERB cblr-1731 128 6 $ $ SYM cblr-1731 128 7 2 2 NUM cblr-1731 128 8 billion billion NUM cblr-1731 128 9 in in ADP cblr-1731 128 10 the the DET cblr-1731 128 11 debt debt NOUN cblr-1731 128 12 of of ADP cblr-1731 128 13 a a DET cblr-1731 128 14 leveraged leveraged ADJ cblr-1731 128 15 buyout buyout NOUN cblr-1731 128 16 of of ADP cblr-1731 128 17 texas texas PROPN cblr-1731 128 18 electric electric PROPN cblr-1731 128 19 utilities utility NOUN cblr-1731 128 20 . . PUNCT cblr-1731 129 1 it it PRON cblr-1731 129 2 soon soon ADV cblr-1731 129 3 busted bust VERB cblr-1731 129 4 amid amid ADP cblr-1731 129 5 the the DET cblr-1731 129 6 financial financial ADJ cblr-1731 129 7 crisis crisis NOUN cblr-1731 129 8 , , PUNCT cblr-1731 129 9 costing cost VERB cblr-1731 129 10 berkshire berkshire NOUN cblr-1731 129 11 almost almost ADV cblr-1731 129 12 $ $ SYM cblr-1731 129 13 900 900 NUM cblr-1731 129 14 million.19 million.19 NOUN cblr-1731 129 15 reporting report VERB cblr-1731 129 16 this this PRON cblr-1731 129 17 in in ADP cblr-1731 129 18 2013 2013 NUM cblr-1731 129 19 , , PUNCT cblr-1731 129 20 buffett buffett PROPN cblr-1731 129 21 wrote write VERB cblr-1731 129 22 , , PUNCT cblr-1731 129 23 “ " PUNCT cblr-1731 129 24 next next ADJ cblr-1731 129 25 time time NOUN cblr-1731 129 26 i i PRON cblr-1731 129 27 ’ll ’ll AUX cblr-1731 129 28 call call VERB cblr-1731 129 29 charlie charlie PROPN cblr-1731 129 30 . . PUNCT cblr-1731 130 1 ”20 ”20 PROPN cblr-1731 130 2 while while SCONJ cblr-1731 130 3 investment investment NOUN cblr-1731 130 4 committees committee NOUN cblr-1731 130 5 , , PUNCT cblr-1731 130 6 common common ADJ cblr-1731 130 7 at at ADP cblr-1731 130 8 most most ADJ cblr-1731 130 9 businesses business NOUN cblr-1731 130 10 even even ADV cblr-1731 130 11 fractions fraction NOUN cblr-1731 130 12 of of ADP cblr-1731 130 13 berkshire berkshire NOUN cblr-1731 130 14 ’s ’s PART cblr-1731 130 15 size size NOUN cblr-1731 130 16 , , PUNCT cblr-1731 130 17 limit limit VERB cblr-1731 130 18 opportunistic opportunistic ADJ cblr-1731 130 19 capital capital NOUN cblr-1731 130 20 allocation allocation NOUN cblr-1731 130 21 , , PUNCT cblr-1731 130 22 instances instance NOUN cblr-1731 130 23 like like ADP cblr-1731 130 24 this this PRON cblr-1731 130 25 underscore underscore VERB cblr-1731 130 26 the the DET cblr-1731 130 27 cost cost NOUN cblr-1731 130 28 of of ADP cblr-1731 130 29 a a DET cblr-1731 130 30 one one NUM cblr-1731 130 31 - - PUNCT cblr-1731 130 32 man man NOUN cblr-1731 130 33 investment investment NOUN cblr-1731 130 34 committee committee NOUN cblr-1731 130 35 . . PUNCT cblr-1731 131 1 buffett buffett PROPN cblr-1731 131 2 understands understand VERB cblr-1731 131 3 the the DET cblr-1731 131 4 appeal appeal NOUN cblr-1731 131 5 and and CCONJ cblr-1731 131 6 limits limit NOUN cblr-1731 131 7 of of ADP cblr-1731 131 8 the the DET cblr-1731 131 9 model model NOUN cblr-1731 131 10 and and CCONJ cblr-1731 131 11 seems seem VERB cblr-1731 131 12 to to PART cblr-1731 131 13 believe believe VERB cblr-1731 131 14 that that SCONJ cblr-1731 131 15 others other NOUN cblr-1731 131 16 besides besides SCONJ cblr-1731 131 17 him he PRON cblr-1731 131 18 can can AUX cblr-1731 131 19 execute execute VERB cblr-1731 131 20 it it PRON cblr-1731 131 21 . . PUNCT cblr-1731 132 1 on on ADP cblr-1731 132 2 the the DET cblr-1731 132 3 other other ADJ cblr-1731 132 4 hand hand NOUN cblr-1731 132 5 , , PUNCT cblr-1731 132 6 the the DET cblr-1731 132 7 berkshire berkshire NOUN cblr-1731 132 8 succession succession NOUN cblr-1731 132 9 plan plan NOUN cblr-1731 132 10 envisions envision VERB cblr-1731 132 11 splitting split VERB cblr-1731 132 12 the the DET cblr-1731 132 13 roles role NOUN cblr-1731 132 14 of of ADP cblr-1731 132 15 chief chief ADJ cblr-1731 132 16 executive executive NOUN cblr-1731 132 17 and and CCONJ cblr-1731 132 18 chief chief ADJ cblr-1731 132 19 investment investment NOUN cblr-1731 132 20 officer officer NOUN cblr-1731 132 21 and and CCONJ cblr-1731 132 22 the the DET cblr-1731 132 23 roles role NOUN cblr-1731 132 24 of of ADP cblr-1731 132 25 management management NOUN cblr-1731 132 26 from from ADP cblr-1731 132 27 board board NOUN cblr-1731 132 28 chairman chairman NOUN cblr-1731 132 29 . . PUNCT cblr-1731 133 1 accordingly accordingly ADV cblr-1731 133 2 , , PUNCT cblr-1731 133 3 the the DET cblr-1731 133 4 berkshire berkshire NOUN cblr-1731 133 5 succession succession NOUN cblr-1731 133 6 plan plan NOUN cblr-1731 133 7 envisions envision VERB cblr-1731 133 8 a a DET cblr-1731 133 9 somewhat somewhat ADV cblr-1731 133 10 tighter tight ADJ cblr-1731 133 11 leash leash NOUN cblr-1731 133 12 on on ADP cblr-1731 133 13 buffett buffett PROPN cblr-1731 133 14 ’s ’s PART cblr-1731 133 15 successor successor NOUN cblr-1731 133 16 — — PUNCT cblr-1731 133 17 and and CCONJ cblr-1731 133 18 , , PUNCT cblr-1731 133 19 unusually unusually ADV cblr-1731 133 20 for for ADP cblr-1731 133 21 berkshire berkshire NOUN cblr-1731 133 22 , , PUNCT cblr-1731 133 23 joins join VERB cblr-1731 133 24 a a DET cblr-1731 133 25 trendy trendy ADJ cblr-1731 133 26 feature feature NOUN cblr-1731 133 27 in in ADP cblr-1731 133 28 contemporary contemporary ADJ cblr-1731 133 29 governance governance NOUN cblr-1731 133 30 of of ADP cblr-1731 133 31 splitting split VERB cblr-1731 133 32 the the DET cblr-1731 133 33 roles role NOUN cblr-1731 133 34 of of ADP cblr-1731 133 35 board board NOUN cblr-1731 133 36 chairman chairman NOUN cblr-1731 133 37 and and CCONJ cblr-1731 133 38 chief chief ADJ cblr-1731 133 39 executive.21 executive.21 NOUN cblr-1731 133 40 that that PRON cblr-1731 133 41 outcome outcome NOUN cblr-1731 133 42 should should AUX cblr-1731 133 43 be be AUX cblr-1731 133 44 continually continually ADV cblr-1731 133 45 monitored monitor VERB cblr-1731 133 46 by by ADP cblr-1731 133 47 berkshire berkshire PROPN cblr-1731 133 48 ’s ’s PART cblr-1731 133 49 board board NOUN cblr-1731 133 50 , , PUNCT cblr-1731 133 51 which which PRON cblr-1731 133 52 should should AUX cblr-1731 133 53 be be AUX cblr-1731 133 54 willing willing ADJ cblr-1731 133 55 to to PART cblr-1731 133 56 loosen loosen VERB cblr-1731 133 57 or or CCONJ cblr-1731 133 58 tighten tighten VERB cblr-1731 133 59 it it PRON cblr-1731 133 60 , , PUNCT cblr-1731 133 61 even even ADV cblr-1731 133 62 if if SCONJ cblr-1731 133 63 incrementally incrementally ADV cblr-1731 133 64 , , PUNCT cblr-1731 133 65 as as SCONJ cblr-1731 133 66 may may AUX cblr-1731 133 67 be be AUX cblr-1731 133 68 indicated indicate VERB cblr-1731 133 69 by by ADP cblr-1731 133 70 performance performance NOUN cblr-1731 133 71 from from ADP cblr-1731 133 72 time time NOUN cblr-1731 133 73 to to ADP cblr-1731 133 74 time.22 time.22 NOUN cblr-1731 133 75 19 19 NUM cblr-1731 133 76 letter letter NOUN cblr-1731 133 77 from from ADP cblr-1731 133 78 warren warren PROPN cblr-1731 133 79 e. e. PROPN cblr-1731 133 80 buffett buffett PROPN cblr-1731 133 81 , , PUNCT cblr-1731 133 82 chairman chairman NOUN cblr-1731 133 83 , , PUNCT cblr-1731 133 84 berkshire berkshire PROPN cblr-1731 133 85 hathaway hathaway PROPN cblr-1731 133 86 , , PUNCT cblr-1731 133 87 inc inc PROPN cblr-1731 133 88 . . PROPN cblr-1731 133 89 , , PUNCT cblr-1731 133 90 to to ADP cblr-1731 133 91 shareholders shareholder NOUN cblr-1731 133 92 of of ADP cblr-1731 133 93 berkshire berkshire PROPN cblr-1731 133 94 hathaway hathaway PROPN cblr-1731 133 95 , , PUNCT cblr-1731 133 96 inc inc PROPN cblr-1731 133 97 . . PROPN cblr-1731 133 98 17 17 NUM cblr-1731 133 99 ( ( PUNCT cblr-1731 133 100 feb feb PROPN cblr-1731 133 101 . . PROPN cblr-1731 133 102 28 28 NUM cblr-1731 133 103 , , PUNCT cblr-1731 133 104 2014 2014 NUM cblr-1731 133 105 ) ) PUNCT cblr-1731 134 1 http://www.berkshirehathaway.com/letters/2013ltr.pdf http://www.berkshirehathaway.com/letters/2013ltr.pdf PROPN cblr-1731 135 1 [ [ AUX cblr-1731 135 2 https://perma.cc/ https://perma.cc/ VERB cblr-1731 135 3 mz99 mz99 NOUN cblr-1731 135 4 - - NOUN cblr-1731 135 5 mczr mczr NOUN cblr-1731 135 6 ] ] X cblr-1731 135 7 . . PUNCT cblr-1731 136 1 20 20 NUM cblr-1731 137 1 i i PRON cblr-1731 137 2 d. d. PROPN cblr-1731 137 3 21 21 NUM cblr-1731 137 4 see see VERB cblr-1731 137 5 thuy thuy NOUN cblr-1731 137 6 - - PUNCT cblr-1731 137 7 nga nga PROPN cblr-1731 137 8 t. t. PROPN cblr-1731 137 9 vo vo PROPN cblr-1731 137 10 , , PUNCT cblr-1731 137 11 to to PART cblr-1731 137 12 be be AUX cblr-1731 137 13 or or CCONJ cblr-1731 137 14 not not PART cblr-1731 137 15 to to PART cblr-1731 137 16 be be AUX cblr-1731 137 17 both both DET cblr-1731 137 18 ceo ceo NOUN cblr-1731 137 19 and and CCONJ cblr-1731 137 20 board board NOUN cblr-1731 137 21 chair chair NOUN cblr-1731 137 22 , , PUNCT cblr-1731 137 23 76 76 NUM cblr-1731 137 24 brook brook NOUN cblr-1731 137 25 . . PUNCT cblr-1731 138 1 l. l. PROPN cblr-1731 138 2 rev rev PROPN cblr-1731 138 3 . . PROPN cblr-1731 138 4 65 65 NUM cblr-1731 138 5 , , PUNCT cblr-1731 138 6 73 73 NUM cblr-1731 138 7 ( ( PUNCT cblr-1731 138 8 2010 2010 NUM cblr-1731 138 9 ) ) PUNCT cblr-1731 138 10 . . PUNCT cblr-1731 139 1 22 22 NUM cblr-1731 139 2 for for ADP cblr-1731 139 3 other other ADJ cblr-1731 139 4 firms firm NOUN cblr-1731 139 5 , , PUNCT cblr-1731 139 6 addressed address VERB cblr-1731 139 7 more more ADV cblr-1731 139 8 fully fully ADV cblr-1731 139 9 in in ADP cblr-1731 139 10 part part NOUN cblr-1731 139 11 ii ii NOUN cblr-1731 139 12 below below ADV cblr-1731 139 13 , , PUNCT cblr-1731 139 14 insisting insist VERB cblr-1731 139 15 on on ADP cblr-1731 139 16 a a DET cblr-1731 139 17 capable capable ADJ cblr-1731 139 18 decision decision NOUN cblr-1731 139 19 maker maker NOUN cblr-1731 139 20 based base VERB cblr-1731 139 21 on on ADP cblr-1731 139 22 core core NOUN cblr-1731 139 23 principles principle NOUN cblr-1731 139 24 and and CCONJ cblr-1731 139 25 a a DET cblr-1731 139 26 proven prove VERB cblr-1731 139 27 track track NOUN cblr-1731 139 28 record record NOUN cblr-1731 139 29 seems seem VERB cblr-1731 139 30 imperative imperative ADJ cblr-1731 139 31 before before ADP cblr-1731 139 32 opting opt VERB cblr-1731 139 33 to to PART cblr-1731 139 34 follow follow VERB cblr-1731 139 35 the the DET cblr-1731 139 36 berkshire berkshire PROPN cblr-1731 139 37 model model NOUN cblr-1731 139 38 . . PUNCT cblr-1731 140 1 see see VERB cblr-1731 140 2 lawrence lawrence PROPN cblr-1731 140 3 a. a. PROPN cblr-1731 140 4 cunningham cunningham PROPN cblr-1731 140 5 , , PUNCT cblr-1731 140 6 the the DET cblr-1731 140 7 secret secret ADJ cblr-1731 140 8 sauce sauce NOUN cblr-1731 140 9 of of ADP cblr-1731 140 10 corporate corporate ADJ cblr-1731 140 11 leadership leadership NOUN cblr-1731 140 12 , , PUNCT cblr-1731 141 1 wall wall PROPN cblr-1731 141 2 st st PROPN cblr-1731 141 3 . . PROPN cblr-1731 141 4 j. j. PROPN cblr-1731 141 5 ( ( PUNCT cblr-1731 141 6 jan jan PROPN cblr-1731 141 7 . . PROPN cblr-1731 141 8 25 25 NUM cblr-1731 141 9 , , PUNCT cblr-1731 141 10 2015 2015 NUM cblr-1731 141 11 ) ) PUNCT cblr-1731 141 12 , , PUNCT cblr-1731 141 13 http://www.wsj.com/articles/lawrence-acunningham-the-secret-sauce-of-corporate-leadership-1422231824 http://www.wsj.com/articles/lawrence-acunningham-the-secret-sauce-of-corporate-leadership-1422231824 X cblr-1731 142 1 [ [ X cblr-1731 142 2 http:// http:// PROPN cblr-1731 142 3 perma.cc/uet3-k3c7 perma.cc/uet3-k3c7 PROPN cblr-1731 142 4 ] ] PUNCT cblr-1731 142 5 . . PUNCT cblr-1731 143 1 at at ADP cblr-1731 143 2 minimum minimum NOUN cblr-1731 143 3 , , PUNCT cblr-1731 143 4 they they PRON cblr-1731 143 5 should should AUX cblr-1731 143 6 embrace embrace VERB cblr-1731 143 7 the the DET cblr-1731 143 8 fundamental fundamental ADJ cblr-1731 143 9 berkshire berkshire PROPN cblr-1731 143 10 - - PUNCT cblr-1731 143 11 buffett buffett PROPN cblr-1731 143 12 tenet tenet NOUN cblr-1731 143 13 of of ADP cblr-1731 143 14 the the DET cblr-1731 143 15 circle circle NOUN cblr-1731 143 16 of of ADP cblr-1731 143 17 competence competence NOUN cblr-1731 143 18 — — PUNCT cblr-1731 143 19 cunningham cunningham PROPN cblr-1731 143 20 – – PUNCT cblr-1731 143 21 final final ADJ cblr-1731 143 22 14 14 NUM cblr-1731 143 23 columbia columbia PROPN cblr-1731 143 24 business business NOUN cblr-1731 143 25 law law PROPN cblr-1731 143 26 review review NOUN cblr-1731 144 1 [ [ X cblr-1731 144 2 vol vol NOUN cblr-1731 144 3 . . PUNCT cblr-1731 144 4 2016 2016 NUM cblr-1731 144 5 b. b. NOUN cblr-1731 144 6 crisis crisis NOUN cblr-1731 144 7 costs cost NOUN cblr-1731 144 8 in in ADP cblr-1731 144 9 severing sever VERB cblr-1731 144 10 autonomous autonomous ADJ cblr-1731 144 11 executives executive NOUN cblr-1731 144 12 the the DET cblr-1731 144 13 costs cost NOUN cblr-1731 144 14 of of ADP cblr-1731 144 15 berkshire berkshire NOUN cblr-1731 144 16 ’s ’s PART cblr-1731 144 17 management management NOUN cblr-1731 144 18 structure structure NOUN cblr-1731 144 19 are be AUX cblr-1731 144 20 most most ADV cblr-1731 144 21 dramatic dramatic ADJ cblr-1731 144 22 when when SCONJ cblr-1731 144 23 senior senior ADJ cblr-1731 144 24 executives executive NOUN cblr-1731 144 25 depart depart VERB cblr-1731 144 26 after after ADP cblr-1731 144 27 being be AUX cblr-1731 144 28 ensnared ensnare VERB cblr-1731 144 29 in in ADP cblr-1731 144 30 widely widely ADV cblr-1731 144 31 - - PUNCT cblr-1731 144 32 publicized publicize VERB cblr-1731 144 33 imbroglios imbroglio NOUN cblr-1731 144 34 . . PUNCT cblr-1731 145 1 the the DET cblr-1731 145 2 problems problem NOUN cblr-1731 145 3 generally generally ADV cblr-1731 145 4 arise arise VERB cblr-1731 145 5 , , PUNCT cblr-1731 145 6 in in ADP cblr-1731 145 7 varying vary VERB cblr-1731 145 8 degrees degree NOUN cblr-1731 145 9 , , PUNCT cblr-1731 145 10 from from ADP cblr-1731 145 11 berkshire berkshire NOUN cblr-1731 145 12 ’s ’s PART cblr-1731 145 13 lack lack NOUN cblr-1731 145 14 of of ADP cblr-1731 145 15 any any DET cblr-1731 145 16 formal formal ADJ cblr-1731 145 17 program program NOUN cblr-1731 145 18 of of ADP cblr-1731 145 19 executive executive ADJ cblr-1731 145 20 recruiting recruiting NOUN cblr-1731 145 21 , , PUNCT cblr-1731 145 22 vetting vetting NOUN cblr-1731 145 23 , , PUNCT cblr-1731 145 24 talent talent NOUN cblr-1731 145 25 review review NOUN cblr-1731 145 26 , , PUNCT cblr-1731 145 27 or or CCONJ cblr-1731 145 28 succession succession NOUN cblr-1731 145 29 grooming grooming NOUN cblr-1731 145 30 . . PUNCT cblr-1731 146 1 buffett buffett PROPN cblr-1731 146 2 pays pay VERB cblr-1731 146 3 close close ADJ cblr-1731 146 4 attention attention NOUN cblr-1731 146 5 to to ADP cblr-1731 146 6 manager manager NOUN cblr-1731 146 7 identity identity NOUN cblr-1731 146 8 when when SCONJ cblr-1731 146 9 acquiring acquire VERB cblr-1731 146 10 a a DET cblr-1731 146 11 company company NOUN cblr-1731 146 12 , , PUNCT cblr-1731 146 13 but but CCONJ cblr-1731 146 14 then then ADV cblr-1731 146 15 relies rely VERB cblr-1731 146 16 on on ADP cblr-1731 146 17 such such ADJ cblr-1731 146 18 managers manager NOUN cblr-1731 146 19 to to ADP cblr-1731 146 20 appoint appoint VERB cblr-1731 146 21 successors successor NOUN cblr-1731 146 22 . . PUNCT cblr-1731 147 1 at at ADP cblr-1731 147 2 the the DET cblr-1731 147 3 same same ADJ cblr-1731 147 4 time time NOUN cblr-1731 147 5 , , PUNCT cblr-1731 147 6 there there PRON cblr-1731 147 7 is be VERB cblr-1731 147 8 no no DET cblr-1731 147 9 middle middle ADJ cblr-1731 147 10 management management NOUN cblr-1731 147 11 , , PUNCT cblr-1731 147 12 so so CCONJ cblr-1731 147 13 in in ADP cblr-1731 147 14 modern modern ADJ cblr-1731 147 15 management management NOUN cblr-1731 147 16 parlance parlance NOUN cblr-1731 147 17 , , PUNCT cblr-1731 147 18 a a DET cblr-1731 147 19 single single ADJ cblr-1731 147 20 person person NOUN cblr-1731 147 21 has have VERB cblr-1731 147 22 some some DET cblr-1731 147 23 eighty eighty NUM cblr-1731 147 24 direct direct ADJ cblr-1731 147 25 reports report NOUN cblr-1731 147 26 . . PUNCT cblr-1731 148 1 the the DET cblr-1731 148 2 chief chief ADJ cblr-1731 148 3 costs cost NOUN cblr-1731 148 4 are be AUX cblr-1731 148 5 from from ADP cblr-1731 148 6 mistakenly mistakenly ADV cblr-1731 148 7 releasing release VERB cblr-1731 148 8 or or CCONJ cblr-1731 148 9 retaining retain VERB cblr-1731 148 10 senior senior ADJ cblr-1731 148 11 executives executive NOUN cblr-1731 148 12 in in ADP cblr-1731 148 13 circumstances circumstance NOUN cblr-1731 148 14 that that PRON cblr-1731 148 15 suggest suggest VERB cblr-1731 148 16 crisis.23 crisis.23 PROPN cblr-1731 148 17 crisis crisis NOUN cblr-1731 148 18 was be AUX cblr-1731 148 19 the the DET cblr-1731 148 20 hallmark hallmark NOUN cblr-1731 148 21 of of ADP cblr-1731 148 22 a a DET cblr-1731 148 23 series series NOUN cblr-1731 148 24 of of ADP cblr-1731 148 25 executive executive ADJ cblr-1731 148 26 shuffles shuffle NOUN cblr-1731 148 27 at at ADP cblr-1731 148 28 berkshire berkshire NOUN cblr-1731 148 29 ’s ’s PART cblr-1731 148 30 netjets netjet NOUN cblr-1731 148 31 subsidiary subsidiary NOUN cblr-1731 148 32 , , PUNCT cblr-1731 148 33 which which PRON cblr-1731 148 34 involved involve VERB cblr-1731 148 35 two two NUM cblr-1731 148 36 managers manager NOUN cblr-1731 148 37 on on ADP cblr-1731 148 38 the the DET cblr-1731 148 39 short short ADJ cblr-1731 148 40 list list NOUN cblr-1731 148 41 of of ADP cblr-1731 148 42 buffett buffett PROPN cblr-1731 148 43 successors successor NOUN cblr-1731 148 44 , , PUNCT cblr-1731 148 45 richard richard PROPN cblr-1731 148 46 santulli santulli PROPN cblr-1731 148 47 and and CCONJ cblr-1731 148 48 david david PROPN cblr-1731 148 49 sokol sokol PROPN cblr-1731 148 50 . . PUNCT cblr-1731 149 1 netjets netjet NOUN cblr-1731 149 2 , , PUNCT cblr-1731 149 3 which which PRON cblr-1731 149 4 santulli santulli ADV cblr-1731 149 5 founded found VERB cblr-1731 149 6 and and CCONJ cblr-1731 149 7 led lead VERB cblr-1731 149 8 through through ADP cblr-1731 149 9 2009 2009 NUM cblr-1731 149 10 , , PUNCT cblr-1731 149 11 is be AUX cblr-1731 149 12 a a DET cblr-1731 149 13 competitive competitive ADJ cblr-1731 149 14 and and CCONJ cblr-1731 149 15 capital capital NOUN cblr-1731 149 16 intensive intensive ADJ cblr-1731 149 17 business business NOUN cblr-1731 149 18 with with ADP cblr-1731 149 19 a a DET cblr-1731 149 20 unionized unionized ADJ cblr-1731 149 21 employee employee NOUN cblr-1731 149 22 base.24 base.24 NOUN cblr-1731 149 23 selling sell VERB cblr-1731 149 24 fractional fractional ADJ cblr-1731 149 25 interests interest NOUN cblr-1731 149 26 in in ADP cblr-1731 149 27 private private ADJ cblr-1731 149 28 aircraft aircraft NOUN cblr-1731 149 29 to to ADP cblr-1731 149 30 the the DET cblr-1731 149 31 elite elite NOUN cblr-1731 149 32 , , PUNCT cblr-1731 149 33 santulli santulli PROPN cblr-1731 149 34 conceived conceive VERB cblr-1731 149 35 of of ADP cblr-1731 149 36 the the DET cblr-1731 149 37 business business NOUN cblr-1731 149 38 as as ADP cblr-1731 149 39 a a DET cblr-1731 149 40 luxury luxury NOUN cblr-1731 149 41 brand brand NOUN cblr-1731 149 42 and and CCONJ cblr-1731 149 43 operated operate VERB cblr-1731 149 44 it it PRON cblr-1731 149 45 accordingly accordingly ADV cblr-1731 149 46 . . PUNCT cblr-1731 150 1 but but CCONJ cblr-1731 150 2 the the DET cblr-1731 150 3 company company NOUN cblr-1731 150 4 struggled struggle VERB cblr-1731 150 5 and and CCONJ cblr-1731 150 6 , , PUNCT cblr-1731 150 7 amid amid ADP cblr-1731 150 8 economic economic ADJ cblr-1731 150 9 adversity adversity NOUN cblr-1731 150 10 following follow VERB cblr-1731 150 11 the the DET cblr-1731 150 12 2008 2008 NUM cblr-1731 150 13 financial financial ADJ cblr-1731 150 14 crisis crisis NOUN cblr-1731 150 15 , , PUNCT cblr-1731 150 16 buffett buffett PROPN cblr-1731 150 17 decided decide VERB cblr-1731 150 18 to to PART cblr-1731 150 19 make make VERB cblr-1731 150 20 a a DET cblr-1731 150 21 change change NOUN cblr-1731 150 22 . . PUNCT cblr-1731 151 1 why why SCONJ cblr-1731 151 2 he he PRON cblr-1731 151 3 did do AUX cblr-1731 151 4 so so ADV cblr-1731 151 5 remains remain VERB cblr-1731 151 6 something something PRON cblr-1731 151 7 of of ADP cblr-1731 151 8 a a DET cblr-1731 151 9 mystery mystery NOUN cblr-1731 151 10 and and CCONJ cblr-1731 151 11 certainly certainly ADV cblr-1731 151 12 an an DET cblr-1731 151 13 anomaly anomaly NOUN cblr-1731 151 14 , , PUNCT cblr-1731 151 15 however however ADV cblr-1731 151 16 , , PUNCT cblr-1731 151 17 as as SCONJ cblr-1731 151 18 buffett buffett PROPN cblr-1731 151 19 rarely rarely ADV cblr-1731 151 20 secondguesses secondguesse VERB cblr-1731 151 21 managers manager NOUN cblr-1731 151 22 , , PUNCT cblr-1731 151 23 especially especially ADV cblr-1731 151 24 company company NOUN cblr-1731 151 25 founders founder NOUN cblr-1731 151 26 like like ADP cblr-1731 151 27 santulli santulli PROPN cblr-1731 151 28 . . PUNCT cblr-1731 152 1 as as SCONJ cblr-1731 152 2 netjets netjet NOUN cblr-1731 152 3 ’ ' PUNCT cblr-1731 152 4 new new PROPN cblr-1731 152 5 ceo ceo PROPN cblr-1731 152 6 , , PUNCT cblr-1731 152 7 buffett buffett PROPN cblr-1731 152 8 appointed appoint VERB cblr-1731 152 9 sokol sokol PROPN cblr-1731 152 10 , , PUNCT cblr-1731 152 11 who who PRON cblr-1731 152 12 perceived perceive VERB cblr-1731 152 13 netjets netjet NOUN cblr-1731 152 14 to to PART cblr-1731 152 15 be be AUX cblr-1731 152 16 bloated bloated ADJ cblr-1731 152 17 and and CCONJ cblr-1731 152 18 forthwith forthwith NOUN cblr-1731 152 19 cut cut NOUN cblr-1731 152 20 costs cost NOUN cblr-1731 152 21 allocating allocate VERB cblr-1731 152 22 capital capital NOUN cblr-1731 152 23 only only ADV cblr-1731 152 24 to to ADP cblr-1731 152 25 undertakings undertaking NOUN cblr-1731 152 26 clearly clearly ADV cblr-1731 152 27 within within ADP cblr-1731 152 28 the the DET cblr-1731 152 29 decision decision NOUN cblr-1731 152 30 maker maker NOUN cblr-1731 152 31 ’s ’s PART cblr-1731 152 32 capabilities capability NOUN cblr-1731 152 33 . . PUNCT cblr-1731 153 1 23 23 NUM cblr-1731 154 1 in in ADP cblr-1731 154 2 addition addition NOUN cblr-1731 154 3 to to ADP cblr-1731 154 4 the the DET cblr-1731 154 5 examples example NOUN cblr-1731 154 6 of of ADP cblr-1731 154 7 executive executive ADJ cblr-1731 154 8 succession succession NOUN cblr-1731 154 9 amid amid ADP cblr-1731 154 10 crisis crisis NOUN cblr-1731 154 11 described describe VERB cblr-1731 154 12 in in ADP cblr-1731 154 13 this this DET cblr-1731 154 14 part part NOUN cblr-1731 154 15 , , PUNCT cblr-1731 154 16 two two NUM cblr-1731 154 17 others other NOUN cblr-1731 154 18 occurred occur VERB cblr-1731 154 19 in in ADP cblr-1731 154 20 succession succession NOUN cblr-1731 154 21 at at ADP cblr-1731 154 22 gen gen PROPN cblr-1731 154 23 re re X cblr-1731 154 24 amid amid ADP cblr-1731 154 25 questions question NOUN cblr-1731 154 26 about about ADP cblr-1731 154 27 the the DET cblr-1731 154 28 legality legality NOUN cblr-1731 154 29 of of ADP cblr-1731 154 30 a a DET cblr-1731 154 31 high high ADJ cblr-1731 154 32 - - PUNCT cblr-1731 154 33 level level NOUN cblr-1731 154 34 insurance insurance NOUN cblr-1731 154 35 contract contract NOUN cblr-1731 154 36 with with ADP cblr-1731 154 37 aig aig PROPN cblr-1731 154 38 . . PROPN cblr-1731 155 1 see see VERB cblr-1731 155 2 supra supra PROPN cblr-1731 155 3 note note PROPN cblr-1731 155 4 16 16 NUM cblr-1731 155 5 . . PUNCT cblr-1731 156 1 24 24 NUM cblr-1731 156 2 see see VERB cblr-1731 156 3 cunningham cunningham PROPN cblr-1731 156 4 , , PUNCT cblr-1731 156 5 berkshire berkshire PROPN cblr-1731 156 6 beyond beyond ADP cblr-1731 156 7 buffett buffett PROPN cblr-1731 156 8 , , PUNCT cblr-1731 156 9 supra supra PROPN cblr-1731 156 10 note note PROPN cblr-1731 156 11 6 6 NUM cblr-1731 156 12 , , PUNCT cblr-1731 156 13 at at ADP cblr-1731 156 14 24 24 NUM cblr-1731 156 15 , , PUNCT cblr-1731 156 16 91–92 91–92 NUM cblr-1731 156 17 . . PUNCT cblr-1731 157 1 cunningham cunningham PROPN cblr-1731 157 2 – – PUNCT cblr-1731 157 3 final final ADJ cblr-1731 157 4 no no NOUN cblr-1731 157 5 . . NOUN cblr-1731 157 6 1:1 1:1 NUM cblr-1731 157 7 ] ] PUNCT cblr-1731 157 8 berkshire berkshire PROPN cblr-1731 157 9 ’s ’s PART cblr-1731 157 10 blemishes blemish NOUN cblr-1731 157 11 15 15 NUM cblr-1731 157 12 aggressively.25 aggressively.25 ADJ cblr-1731 157 13 unionized unionized ADJ cblr-1731 157 14 employees employee NOUN cblr-1731 157 15 were be AUX cblr-1731 157 16 furious furious ADJ cblr-1731 157 17 and and CCONJ cblr-1731 157 18 a a DET cblr-1731 157 19 sense sense NOUN cblr-1731 157 20 of of ADP cblr-1731 157 21 crisis crisis NOUN cblr-1731 157 22 soon soon ADV cblr-1731 157 23 engulfed engulf VERB cblr-1731 157 24 the the DET cblr-1731 157 25 company company NOUN cblr-1731 157 26 . . PUNCT cblr-1731 158 1 why why SCONJ cblr-1731 158 2 buffett buffett PROPN cblr-1731 158 3 chose choose VERB cblr-1731 158 4 sokol sokol PROPN cblr-1731 158 5 to to PART cblr-1731 158 6 run run VERB cblr-1731 158 7 netjets netjet NOUN cblr-1731 158 8 is be AUX cblr-1731 158 9 also also ADV cblr-1731 158 10 a a DET cblr-1731 158 11 curiosity curiosity NOUN cblr-1731 158 12 . . PUNCT cblr-1731 159 1 sokol sokol PROPN cblr-1731 159 2 was be AUX cblr-1731 159 3 running run VERB cblr-1731 159 4 berkshire berkshire PROPN cblr-1731 159 5 hathaway hathaway PROPN cblr-1731 159 6 ’s ’s PART cblr-1731 159 7 energy energy NOUN cblr-1731 159 8 business business NOUN cblr-1731 159 9 ( ( PUNCT cblr-1731 159 10 then then ADV cblr-1731 159 11 called call VERB cblr-1731 159 12 midamerican midamerican PROPN cblr-1731 159 13 energy energy NOUN cblr-1731 159 14 ) ) PUNCT cblr-1731 159 15 and and CCONJ cblr-1731 159 16 troubleshooting troubleshoot VERB cblr-1731 159 17 as as ADP cblr-1731 159 18 board board NOUN cblr-1731 159 19 chairman chairman NOUN cblr-1731 159 20 at at ADP cblr-1731 159 21 johns johns PROPN cblr-1731 159 22 manville manville PROPN cblr-1731 159 23 . . PUNCT cblr-1731 160 1 buffett buffett PROPN cblr-1731 160 2 has have AUX cblr-1731 160 3 almost almost ADV cblr-1731 160 4 never never ADV cblr-1731 160 5 moved move VERB cblr-1731 160 6 a a DET cblr-1731 160 7 ceo ceo NOUN cblr-1731 160 8 from from ADP cblr-1731 160 9 one one NUM cblr-1731 160 10 berkshire berkshire NOUN cblr-1731 160 11 company company NOUN cblr-1731 160 12 to to ADP cblr-1731 160 13 another.26 another.26 PROPN cblr-1731 160 14 having have VERB cblr-1731 160 15 the the DET cblr-1731 160 16 same same ADJ cblr-1731 160 17 ceo ceo NOUN cblr-1731 160 18 run run VERB cblr-1731 160 19 two two NUM cblr-1731 160 20 berkshire berkshire NOUN cblr-1731 160 21 companies company NOUN cblr-1731 160 22 was be AUX cblr-1731 160 23 unprecedented unprecedented ADJ cblr-1731 160 24 . . PUNCT cblr-1731 161 1 but but CCONJ cblr-1731 161 2 buffett buffett PROPN cblr-1731 161 3 had have AUX cblr-1731 161 4 grown grow VERB cblr-1731 161 5 to to PART cblr-1731 161 6 trust trust VERB cblr-1731 161 7 sokol sokol PROPN cblr-1731 161 8 immensely immensely ADV cblr-1731 161 9 , , PUNCT cblr-1731 161 10 having having AUX cblr-1731 161 11 been be AUX cblr-1731 161 12 introduced introduce VERB cblr-1731 161 13 to to ADP cblr-1731 161 14 him he PRON cblr-1731 161 15 by by ADP cblr-1731 161 16 one one NUM cblr-1731 161 17 of of ADP cblr-1731 161 18 his his PRON cblr-1731 161 19 most most ADV cblr-1731 161 20 intimate intimate ADJ cblr-1731 161 21 confidants confidant NOUN cblr-1731 161 22 , , PUNCT cblr-1731 161 23 walter walter PROPN cblr-1731 161 24 scott scott PROPN cblr-1731 161 25 , , PUNCT cblr-1731 161 26 a a DET cblr-1731 161 27 fellow fellow NOUN cblr-1731 161 28 omaha omaha NOUN cblr-1731 161 29 denizen denizen NOUN cblr-1731 161 30 and and CCONJ cblr-1731 161 31 berkshire berkshire PROPN cblr-1731 161 32 board board PROPN cblr-1731 161 33 member member NOUN cblr-1731 161 34 . . PUNCT cblr-1731 162 1 buffett buffett PROPN cblr-1731 162 2 ’s ’s PART cblr-1731 162 3 faith faith NOUN cblr-1731 162 4 , , PUNCT cblr-1731 162 5 however however ADV cblr-1731 162 6 , , PUNCT cblr-1731 162 7 was be AUX cblr-1731 162 8 misplaced misplace VERB cblr-1731 162 9 , , PUNCT cblr-1731 162 10 as as SCONJ cblr-1731 162 11 sokol sokol PROPN cblr-1731 162 12 resigned resign VERB cblr-1731 162 13 from from ADP cblr-1731 162 14 all all DET cblr-1731 162 15 his his PRON cblr-1731 162 16 berkshire berkshire NOUN cblr-1731 162 17 jobs job NOUN cblr-1731 162 18 in in ADP cblr-1731 162 19 2011 2011 NUM cblr-1731 162 20 after after ADP cblr-1731 162 21 being be AUX cblr-1731 162 22 caught catch VERB cblr-1731 162 23 front front ADJ cblr-1731 162 24 running run VERB cblr-1731 162 25 — — PUNCT cblr-1731 162 26 he he PRON cblr-1731 162 27 was be AUX cblr-1731 162 28 accused accuse VERB cblr-1731 162 29 of of ADP cblr-1731 162 30 insider insider NOUN cblr-1731 162 31 trading trading NOUN cblr-1731 162 32 when when SCONJ cblr-1731 162 33 he he PRON cblr-1731 162 34 bought buy VERB cblr-1731 162 35 stock stock NOUN cblr-1731 162 36 in in ADP cblr-1731 162 37 a a DET cblr-1731 162 38 public public ADJ cblr-1731 162 39 company company NOUN cblr-1731 162 40 , , PUNCT cblr-1731 162 41 lubrizol lubrizol VERB cblr-1731 162 42 , , PUNCT cblr-1731 162 43 ahead ahead ADV cblr-1731 162 44 of of ADP cblr-1731 162 45 pitching pitch VERB cblr-1731 162 46 it it PRON cblr-1731 162 47 to to ADP cblr-1731 162 48 buffett buffett PROPN cblr-1731 162 49 as as ADP cblr-1731 162 50 a a DET cblr-1731 162 51 berkshire berkshire NOUN cblr-1731 162 52 acquisition.27 acquisition.27 PROPN cblr-1731 162 53 at at ADP cblr-1731 162 54 netjets netjet NOUN cblr-1731 162 55 , , PUNCT cblr-1731 162 56 sokol sokol PROPN cblr-1731 162 57 left leave VERB cblr-1731 162 58 behind behind ADP cblr-1731 162 59 both both PRON cblr-1731 162 60 his his PRON cblr-1731 162 61 cost cost NOUN cblr-1731 162 62 - - PUNCT cblr-1731 162 63 cutting cut VERB cblr-1731 162 64 business business NOUN cblr-1731 162 65 model model NOUN cblr-1731 162 66 and and CCONJ cblr-1731 162 67 a a DET cblr-1731 162 68 successor successor NOUN cblr-1731 162 69 , , PUNCT cblr-1731 162 70 jordan jordan PROPN cblr-1731 162 71 hansell.28 hansell.28 PROPN cblr-1731 162 72 sokol sokol PROPN cblr-1731 162 73 had have AUX cblr-1731 162 74 recruited recruit VERB cblr-1731 162 75 hansell hansell NOUN cblr-1731 162 76 from from ADP cblr-1731 162 77 berkshire berkshire NOUN cblr-1731 162 78 ’s ’s PART cblr-1731 162 79 energy energy NOUN cblr-1731 162 80 business business NOUN cblr-1731 162 81 , , PUNCT cblr-1731 162 82 where where SCONJ cblr-1731 162 83 hansell hansell NOUN cblr-1731 162 84 had have AUX cblr-1731 162 85 served serve VERB cblr-1731 162 86 as as SCONJ cblr-1731 162 87 general general ADJ cblr-1731 162 88 counsel.29 counsel.29 PROPN cblr-1731 162 89 netjets netjet NOUN cblr-1731 162 90 ’ ' PUNCT cblr-1731 162 91 pilots pilot NOUN cblr-1731 162 92 loved love VERB cblr-1731 162 93 santulli santulli ADV cblr-1731 162 94 and and CCONJ cblr-1731 162 95 lamented lament VERB cblr-1731 162 96 his his PRON cblr-1731 162 97 departure departure NOUN cblr-1731 162 98 ; ; PUNCT cblr-1731 162 99 they they PRON cblr-1731 162 100 detested detest VERB cblr-1731 162 101 both both DET cblr-1731 162 102 sokol sokol PROPN cblr-1731 162 103 and and CCONJ cblr-1731 162 104 hansell hansell NOUN cblr-1731 162 105 , , PUNCT cblr-1731 162 106 and and CCONJ cblr-1731 162 107 especially especially ADV cblr-1731 162 108 their their PRON cblr-1731 162 109 low low ADJ cblr-1731 162 110 - - PUNCT cblr-1731 162 111 cost cost NOUN cblr-1731 162 112 strategy.30 strategy.30 VERB cblr-1731 162 113 25 25 NUM cblr-1731 162 114 geraldine geraldine PROPN cblr-1731 162 115 fabrikant fabrikant PROPN cblr-1731 162 116 , , PUNCT cblr-1731 162 117 potential potential ADJ cblr-1731 162 118 successor successor NOUN cblr-1731 162 119 to to ADP cblr-1731 162 120 buffett buffett PROPN cblr-1731 162 121 has have VERB cblr-1731 162 122 tough tough ADJ cblr-1731 162 123 task task NOUN cblr-1731 162 124 , , PUNCT cblr-1731 162 125 n.y n.y PROPN cblr-1731 162 126 . . PROPN cblr-1731 162 127 times times PROPN cblr-1731 162 128 : : PUNCT cblr-1731 162 129 dealbook dealbook VERB cblr-1731 162 130 ( ( PUNCT cblr-1731 162 131 dec dec PROPN cblr-1731 162 132 . . PROPN cblr-1731 162 133 3 3 NUM cblr-1731 162 134 , , PUNCT cblr-1731 162 135 2009 2009 NUM cblr-1731 162 136 ) ) PUNCT cblr-1731 162 137 , , PUNCT cblr-1731 162 138 http://dealbook.nytimes.com/ http://dealbook.nytimes.com/ NOUN cblr-1731 162 139 2009/12/04 2009/12/04 NUM cblr-1731 162 140 / / SYM cblr-1731 162 141 potential potential ADJ cblr-1731 162 142 - - PUNCT cblr-1731 162 143 buffett buffett ADJ cblr-1731 162 144 - - PUNCT cblr-1731 162 145 successor successor NOUN cblr-1731 162 146 - - PUNCT cblr-1731 162 147 has have VERB cblr-1731 162 148 - - PUNCT cblr-1731 162 149 tough tough ADJ cblr-1731 162 150 - - PUNCT cblr-1731 162 151 task task NOUN cblr-1731 162 152 [ [ X cblr-1731 162 153 http://perma.cc/ue http://perma.cc/ue VERB cblr-1731 162 154 r9 r9 NOUN cblr-1731 162 155 - - PUNCT cblr-1731 162 156 fdn8 fdn8 NOUN cblr-1731 162 157 ] ] PUNCT cblr-1731 162 158 . . PUNCT cblr-1731 163 1 26 26 NUM cblr-1731 163 2 see see VERB cblr-1731 163 3 charles charles PROPN cblr-1731 163 4 munger munger PROPN cblr-1731 163 5 , , PUNCT cblr-1731 163 6 munger munger NOUN cblr-1731 163 7 on on ADP cblr-1731 163 8 ‘ ' PUNCT cblr-1731 163 9 the the DET cblr-1731 163 10 berkshire berkshire NOUN cblr-1731 163 11 system system NOUN cblr-1731 163 12 , , PUNCT cblr-1731 163 13 ’ ' PUNCT cblr-1731 163 14 in in ADP cblr-1731 163 15 the the DET cblr-1731 163 16 essays essay NOUN cblr-1731 163 17 of of ADP cblr-1731 163 18 warren warren PROPN cblr-1731 163 19 buffett buffett PROPN cblr-1731 163 20 , , PUNCT cblr-1731 163 21 supra supra PROPN cblr-1731 163 22 note note PROPN cblr-1731 163 23 15 15 NUM cblr-1731 163 24 , , PUNCT cblr-1731 163 25 at at ADP cblr-1731 163 26 299 299 NUM cblr-1731 163 27 , , PUNCT cblr-1731 163 28 300 300 NUM cblr-1731 163 29 . . NOUN cblr-1731 163 30 27 27 NUM cblr-1731 163 31 see see VERB cblr-1731 163 32 edward edward PROPN cblr-1731 163 33 greene greene PROPN cblr-1731 163 34 & & CCONJ cblr-1731 163 35 olivia olivia PROPN cblr-1731 163 36 schmid schmid PROPN cblr-1731 163 37 , , PUNCT cblr-1731 163 38 duty duty NOUN cblr-1731 163 39 - - PUNCT cblr-1731 163 40 free free ADJ cblr-1731 163 41 insider insider NOUN cblr-1731 163 42 trading trading NOUN cblr-1731 163 43 , , PUNCT cblr-1731 163 44 2013 2013 NUM cblr-1731 163 45 colum colum NOUN cblr-1731 163 46 . . PUNCT cblr-1731 164 1 bus bus NOUN cblr-1731 164 2 . . PUNCT cblr-1731 165 1 l. l. PROPN cblr-1731 165 2 rev rev PROPN cblr-1731 165 3 . . PROPN cblr-1731 165 4 369 369 NUM cblr-1731 165 5 , , PUNCT cblr-1731 165 6 402 402 NUM cblr-1731 165 7 ( ( PUNCT cblr-1731 165 8 2013 2013 NUM cblr-1731 165 9 ) ) PUNCT cblr-1731 165 10 . . PUNCT cblr-1731 166 1 28 28 NUM cblr-1731 166 2 noah noah PROPN cblr-1731 166 3 buhayar buhayar PROPN cblr-1731 166 4 & & CCONJ cblr-1731 166 5 mary mary PROPN cblr-1731 166 6 jane jane PROPN cblr-1731 166 7 credeur credeur PROPN cblr-1731 166 8 , , PUNCT cblr-1731 166 9 sokol sokol PROPN cblr-1731 166 10 exit exit NOUN cblr-1731 166 11 makes make VERB cblr-1731 166 12 hansell hansell PROPN cblr-1731 166 13 netjets netjet NOUN cblr-1731 166 14 ceo ceo PROPN cblr-1731 166 15 two two NUM cblr-1731 166 16 years year NOUN cblr-1731 166 17 from from ADP cblr-1731 166 18 law law NOUN cblr-1731 166 19 firm firm NOUN cblr-1731 166 20 , , PUNCT cblr-1731 166 21 bloomberg bloomberg PROPN cblr-1731 166 22 bus bus NOUN cblr-1731 166 23 . . PUNCT cblr-1731 167 1 ( ( PUNCT cblr-1731 167 2 apr apr PROPN cblr-1731 167 3 . . PROPN cblr-1731 167 4 8 8 NUM cblr-1731 167 5 , , PUNCT cblr-1731 167 6 2011 2011 NUM cblr-1731 167 7 ) ) PUNCT cblr-1731 167 8 , , PUNCT cblr-1731 167 9 http://www.bloomberg.com/news/articles/2011-04-08/sokol-exit-makeshansell-netjets-ceo-two-years-after-leaving-iowa-law-firm http://www.bloomberg.com/news/articles/2011-04-08/sokol-exit-makeshansell-netjets-ceo-two-years-after-leaving-iowa-law-firm ADJ cblr-1731 168 1 [ [ X cblr-1731 168 2 http://perma.cc/ http://perma.cc/ PROPN cblr-1731 168 3 3fnr 3fnr ADV cblr-1731 168 4 - - PUNCT cblr-1731 168 5 n4se n4se NOUN cblr-1731 168 6 ] ] PUNCT cblr-1731 168 7 . . PUNCT cblr-1731 169 1 29 29 NUM cblr-1731 170 1 i i PRON cblr-1731 170 2 d. d. PROPN cblr-1731 170 3 30 30 NUM cblr-1731 170 4 marla marla PROPN cblr-1731 170 5 matzer matzer PROPN cblr-1731 170 6 rose rise VERB cblr-1731 170 7 , , PUNCT cblr-1731 170 8 union union NOUN cblr-1731 170 9 workers worker NOUN cblr-1731 170 10 upset upset VERB cblr-1731 170 11 with with ADP cblr-1731 170 12 netjets netjet NOUN cblr-1731 170 13 , , PUNCT cblr-1731 170 14 columbus columbus NOUN cblr-1731 170 15 dispatch dispatch NOUN cblr-1731 170 16 ( ( PUNCT cblr-1731 170 17 dec dec PROPN cblr-1731 170 18 . . PROPN cblr-1731 170 19 9 9 NUM cblr-1731 170 20 , , PUNCT cblr-1731 170 21 2011 2011 NUM cblr-1731 170 22 ) ) PUNCT cblr-1731 170 23 , , PUNCT cblr-1731 170 24 http://www.dispatch.com/content/stories/business/ http://www.dispatch.com/content/stories/business/ ADP cblr-1731 170 25 2011/12/09 2011/12/09 PRON cblr-1731 170 26 / / SYM cblr-1731 170 27 union union NOUN cblr-1731 170 28 - - PUNCT cblr-1731 170 29 workers worker NOUN cblr-1731 170 30 - - PUNCT cblr-1731 170 31 upset upset VERB cblr-1731 170 32 - - PUNCT cblr-1731 170 33 with with ADP cblr-1731 170 34 - - PUNCT cblr-1731 170 35 netjets.html netjets.html PRON cblr-1731 170 36 [ [ X cblr-1731 170 37 http://perma.cc/9ccycbwa http://perma.cc/9ccycbwa PROPN cblr-1731 170 38 ] ] PUNCT cblr-1731 170 39 . . PUNCT cblr-1731 171 1 cunningham cunningham PROPN cblr-1731 171 2 – – PUNCT cblr-1731 171 3 final final ADJ cblr-1731 171 4 16 16 NUM cblr-1731 171 5 columbia columbia PROPN cblr-1731 171 6 business business NOUN cblr-1731 171 7 law law PROPN cblr-1731 171 8 review review NOUN cblr-1731 171 9 [ [ X cblr-1731 171 10 vol vol NOUN cblr-1731 171 11 . . NOUN cblr-1731 171 12 2016 2016 NUM cblr-1731 171 13 after after SCONJ cblr-1731 171 14 santulli santulli PROPN cblr-1731 171 15 left leave VERB cblr-1731 171 16 , , PUNCT cblr-1731 171 17 management management NOUN cblr-1731 171 18 - - PUNCT cblr-1731 171 19 labor labor NOUN cblr-1731 171 20 relations relation NOUN cblr-1731 171 21 deteriorated deteriorate VERB cblr-1731 171 22 , , PUNCT cblr-1731 171 23 and and CCONJ cblr-1731 171 24 during during ADP cblr-1731 171 25 2013 2013 NUM cblr-1731 171 26 to to ADP cblr-1731 171 27 2014 2014 NUM cblr-1731 171 28 the the DET cblr-1731 171 29 pilots pilot NOUN cblr-1731 171 30 ’ ’ PART cblr-1731 171 31 union union NOUN cblr-1731 171 32 hurled hurl VERB cblr-1731 171 33 invective invective NOUN cblr-1731 171 34 at at ADP cblr-1731 171 35 hansell hansell NOUN cblr-1731 171 36 in in ADP cblr-1731 171 37 aggressive aggressive ADJ cblr-1731 171 38 campaigns campaign NOUN cblr-1731 171 39 from from ADP cblr-1731 171 40 the the DET cblr-1731 171 41 internet internet NOUN cblr-1731 171 42 to to ADP cblr-1731 171 43 the the DET cblr-1731 171 44 wall wall PROPN cblr-1731 171 45 street street PROPN cblr-1731 171 46 journal journal PROPN cblr-1731 171 47 and and CCONJ cblr-1731 171 48 omaha omaha PROPN cblr-1731 171 49 world world NOUN cblr-1731 171 50 - - PUNCT cblr-1731 171 51 herald.31 herald.31 NOUN cblr-1731 171 52 pilots pilot NOUN cblr-1731 171 53 picketed picket VERB cblr-1731 171 54 outside outside ADP cblr-1731 171 55 berkshire berkshire NOUN cblr-1731 171 56 ’s ’s PART cblr-1731 171 57 annual annual ADJ cblr-1731 171 58 meeting meeting NOUN cblr-1731 171 59 in in ADP cblr-1731 171 60 2014 2014 NUM cblr-1731 171 61 and and CCONJ cblr-1731 171 62 2015 2015 NUM cblr-1731 171 63 . . PUNCT cblr-1731 172 1 amid amid ADP cblr-1731 172 2 mounting mount VERB cblr-1731 172 3 turmoil turmoil NOUN cblr-1731 172 4 , , PUNCT cblr-1731 172 5 in in ADP cblr-1731 172 6 early early ADJ cblr-1731 172 7 2015 2015 NUM cblr-1731 172 8 , , PUNCT cblr-1731 172 9 hansell hansell PROPN cblr-1731 172 10 resigned resign VERB cblr-1731 172 11 and and CCONJ cblr-1731 172 12 two two NUM cblr-1731 172 13 santulli santulli ADJ cblr-1731 172 14 - - PUNCT cblr-1731 172 15 era era NOUN cblr-1731 172 16 executives executive NOUN cblr-1731 172 17 who who PRON cblr-1731 172 18 left leave VERB cblr-1731 172 19 from from ADP cblr-1731 172 20 netjets netjet NOUN cblr-1731 172 21 earlier early ADV cblr-1731 172 22 that that DET cblr-1731 172 23 year year NOUN cblr-1731 172 24 were be AUX cblr-1731 172 25 recruited recruit VERB cblr-1731 172 26 back back ADV cblr-1731 172 27 to to PART cblr-1731 172 28 lead lead VERB cblr-1731 172 29 the the DET cblr-1731 172 30 company.32 company.32 NOUN cblr-1731 172 31 from from ADP cblr-1731 172 32 these these DET cblr-1731 172 33 circumstances circumstance NOUN cblr-1731 172 34 , , PUNCT cblr-1731 172 35 it it PRON cblr-1731 172 36 is be AUX cblr-1731 172 37 tempting tempting ADJ cblr-1731 172 38 to to PART cblr-1731 172 39 infer infer VERB cblr-1731 172 40 that that DET cblr-1731 172 41 berkshire berkshire NOUN cblr-1731 172 42 ’s ’s PART cblr-1731 172 43 acquisition acquisition NOUN cblr-1731 172 44 of of ADP cblr-1731 172 45 netjets netjet NOUN cblr-1731 172 46 was be AUX cblr-1731 172 47 a a DET cblr-1731 172 48 mistake mistake NOUN cblr-1731 172 49 — — PUNCT cblr-1731 172 50 and and CCONJ cblr-1731 172 51 perhaps perhaps ADV cblr-1731 172 52 it it PRON cblr-1731 172 53 belongs belong VERB cblr-1731 172 54 in in ADP cblr-1731 172 55 the the DET cblr-1731 172 56 prior prior ADJ cblr-1731 172 57 section section NOUN cblr-1731 172 58 ’s ’s PART cblr-1731 172 59 list list NOUN cblr-1731 172 60 of of ADP cblr-1731 172 61 costly costly ADJ cblr-1731 172 62 acquisitions acquisition NOUN cblr-1731 172 63 that that PRON cblr-1731 172 64 are be AUX cblr-1731 172 65 due due ADJ cblr-1731 172 66 to to ADP cblr-1731 172 67 buffett buffett PROPN cblr-1731 172 68 being be AUX cblr-1731 172 69 berkshire berkshire NOUN cblr-1731 172 70 ’s ’s PART cblr-1731 172 71 sole sole ADJ cblr-1731 172 72 decision decision NOUN cblr-1731 172 73 maker maker NOUN cblr-1731 172 74 . . PUNCT cblr-1731 173 1 but but CCONJ cblr-1731 173 2 it it PRON cblr-1731 173 3 also also ADV cblr-1731 173 4 speaks speak VERB cblr-1731 173 5 to to ADP cblr-1731 173 6 the the DET cblr-1731 173 7 lack lack NOUN cblr-1731 173 8 of of ADP cblr-1731 173 9 any any DET cblr-1731 173 10 formal formal ADJ cblr-1731 173 11 programs program NOUN cblr-1731 173 12 at at ADP cblr-1731 173 13 berkshire berkshire NOUN cblr-1731 173 14 concerning concern VERB cblr-1731 173 15 executive executive ADJ cblr-1731 173 16 recruiting recruiting NOUN cblr-1731 173 17 , , PUNCT cblr-1731 173 18 review review NOUN cblr-1731 173 19 , , PUNCT cblr-1731 173 20 promotion promotion NOUN cblr-1731 173 21 , , PUNCT cblr-1731 173 22 or or CCONJ cblr-1731 173 23 grooming grooming NOUN cblr-1731 173 24 . . PUNCT cblr-1731 174 1 sokol sokol PROPN cblr-1731 174 2 had have VERB cblr-1731 174 3 no no DET cblr-1731 174 4 experience experience NOUN cblr-1731 174 5 with with ADP cblr-1731 174 6 fractional fractional ADJ cblr-1731 174 7 aviation aviation NOUN cblr-1731 174 8 or or CCONJ cblr-1731 174 9 much much ADJ cblr-1731 174 10 else else ADV cblr-1731 174 11 relevant relevant ADJ cblr-1731 174 12 to to ADP cblr-1731 174 13 leading lead VERB cblr-1731 174 14 netjets netjet NOUN cblr-1731 174 15 , , PUNCT cblr-1731 174 16 such such ADJ cblr-1731 174 17 as as ADP cblr-1731 174 18 consumer consumer NOUN cblr-1731 174 19 or or CCONJ cblr-1731 174 20 union union NOUN cblr-1731 174 21 relations relation NOUN cblr-1731 174 22 . . PUNCT cblr-1731 175 1 sokol sokol PROPN cblr-1731 175 2 selected select VERB cblr-1731 175 3 hansell hansell NOUN cblr-1731 175 4 , , PUNCT cblr-1731 175 5 a a DET cblr-1731 175 6 young young ADJ cblr-1731 175 7 lawyer lawyer NOUN cblr-1731 175 8 at at ADP cblr-1731 175 9 the the DET cblr-1731 175 10 energy energy NOUN cblr-1731 175 11 company company NOUN cblr-1731 175 12 , , PUNCT cblr-1731 175 13 who who PRON cblr-1731 175 14 likewise likewise ADV cblr-1731 175 15 lacked lack VERB cblr-1731 175 16 obviously obviously ADV cblr-1731 175 17 relevant relevant ADJ cblr-1731 175 18 credentials credential NOUN cblr-1731 175 19 or or CCONJ cblr-1731 175 20 experience experience NOUN cblr-1731 175 21 . . PUNCT cblr-1731 176 1 the the DET cblr-1731 176 2 sokol sokol PROPN cblr-1731 176 3 episode episode PROPN cblr-1731 176 4 also also ADV cblr-1731 176 5 revealed reveal VERB cblr-1731 176 6 other other ADJ cblr-1731 176 7 costs cost NOUN cblr-1731 176 8 about about ADP cblr-1731 176 9 crisis crisis NOUN cblr-1731 176 10 management management NOUN cblr-1731 176 11 at at ADP cblr-1731 176 12 berkshire berkshire NOUN cblr-1731 176 13 . . PUNCT cblr-1731 177 1 after after SCONJ cblr-1731 177 2 buffett buffett PROPN cblr-1731 177 3 learned learn VERB cblr-1731 177 4 of of ADP cblr-1731 177 5 sokol sokol PROPN cblr-1731 177 6 ’s ’s PART cblr-1731 177 7 front front NOUN cblr-1731 177 8 running running NOUN cblr-1731 177 9 , , PUNCT cblr-1731 177 10 he he PRON cblr-1731 177 11 drafted draft VERB cblr-1731 177 12 a a DET cblr-1731 177 13 press press NOUN cblr-1731 177 14 release release NOUN cblr-1731 177 15 that that PRON cblr-1731 177 16 drew draw VERB cblr-1731 177 17 sharp sharp ADJ cblr-1731 177 18 criticism criticism NOUN cblr-1731 177 19 , , PUNCT cblr-1731 177 20 as as SCONJ cblr-1731 177 21 it it PRON cblr-1731 177 22 spoke speak VERB cblr-1731 177 23 of of ADP cblr-1731 177 24 “ " PUNCT cblr-1731 177 25 extraordinary extraordinary ADJ cblr-1731 177 26 ” " PUNCT cblr-1731 177 27 contributions contribution NOUN cblr-1731 177 28 to to AUX cblr-1731 177 29 berkshire berkshire VERB cblr-1731 177 30 and and CCONJ cblr-1731 177 31 gave give VERB cblr-1731 177 32 buffett buffett PROPN cblr-1731 177 33 ’s ’s PART cblr-1731 177 34 opinion opinion NOUN cblr-1731 177 35 that that SCONJ cblr-1731 177 36 sokol sokol PROPN cblr-1731 177 37 had have AUX cblr-1731 177 38 done do VERB cblr-1731 177 39 nothing nothing PRON cblr-1731 177 40 illegal.33 illegal.33 PROPN cblr-1731 177 41 buffett buffett PROPN cblr-1731 177 42 accepted accept VERB cblr-1731 177 43 the the DET cblr-1731 177 44 criticism34 criticism34 NOUN cblr-1731 177 45 and and CCONJ cblr-1731 177 46 then then ADV cblr-1731 177 47 31 31 NUM cblr-1731 177 48 see see VERB cblr-1731 177 49 netjets netjet NOUN cblr-1731 177 50 : : PUNCT cblr-1731 177 51 lining line VERB cblr-1731 177 52 ceo ceo NOUN cblr-1731 177 53 pockets pocket NOUN cblr-1731 177 54 at at ADP cblr-1731 177 55 expense expense NOUN cblr-1731 177 56 of of ADP cblr-1731 177 57 pilot pilot NOUN cblr-1731 177 58 livelihoods livelihood NOUN cblr-1731 177 59 , , PUNCT cblr-1731 177 60 genuineqs genuineq NOUN cblr-1731 177 61 , , PUNCT cblr-1731 177 62 http://www.genuineqs.com/qs_ads.html http://www.genuineqs.com/qs_ads.html PUNCT cblr-1731 178 1 [ [ X cblr-1731 178 2 http://perma.cc/5x http://perma.cc/5x ADV cblr-1731 178 3 bt bt ADJ cblr-1731 178 4 - - ADJ cblr-1731 178 5 dl59 dl59 PROPN cblr-1731 178 6 ] ] PUNCT cblr-1731 178 7 . . PUNCT cblr-1731 179 1 32 32 NUM cblr-1731 179 2 lawrence lawrence PROPN cblr-1731 179 3 cunningham cunningham PROPN cblr-1731 179 4 , , PUNCT cblr-1731 179 5 was be AUX cblr-1731 179 6 netjets netjet NOUN cblr-1731 179 7 purchase purchase VERB cblr-1731 179 8 a a DET cblr-1731 179 9 mistake mistake NOUN cblr-1731 179 10 for for ADP cblr-1731 179 11 warren warren PROPN cblr-1731 179 12 buffett buffett PROPN cblr-1731 179 13 , , PUNCT cblr-1731 179 14 betty betty PROPN cblr-1731 179 15 liu liu PROPN cblr-1731 179 16 show show PROPN cblr-1731 179 17 ( ( PUNCT cblr-1731 179 18 june june PROPN cblr-1731 179 19 1 1 NUM cblr-1731 179 20 , , PUNCT cblr-1731 179 21 2015 2015 NUM cblr-1731 179 22 ) ) PUNCT cblr-1731 179 23 , , PUNCT cblr-1731 179 24 http://www http://www PROPN cblr-1731 179 25 . . PUNCT cblr-1731 179 26 bloomberg.com/news/videos/2015-06-01/was-netjets-purchase-a-mistakefor-warren-buffett[http://perma.cc/x4gx-9g9u bloomberg.com/news/videos/2015-06-01/was-netjets-purchase-a-mistakefor-warren-buffett[http://perma.cc/x4gx-9g9u NOUN cblr-1731 179 27 ] ] PUNCT cblr-1731 179 28 . . PUNCT cblr-1731 180 1 33 33 NUM cblr-1731 180 2 press press NOUN cblr-1731 180 3 release release NOUN cblr-1731 180 4 , , PUNCT cblr-1731 180 5 berkshire berkshire PROPN cblr-1731 180 6 hathaway hathaway PROPN cblr-1731 180 7 , , PUNCT cblr-1731 180 8 warren warren PROPN cblr-1731 180 9 e. e. PROPN cblr-1731 180 10 buffett buffett PROPN cblr-1731 180 11 , , PUNCT cblr-1731 180 12 ceo ceo PROPN cblr-1731 180 13 of of ADP cblr-1731 180 14 berkshire berkshire PROPN cblr-1731 180 15 hathaway hathaway PROPN cblr-1731 180 16 , , PUNCT cblr-1731 180 17 announces announce VERB cblr-1731 180 18 the the DET cblr-1731 180 19 resignation resignation NOUN cblr-1731 180 20 of of ADP cblr-1731 180 21 david david PROPN cblr-1731 180 22 l. l. PROPN cblr-1731 180 23 sokol sokol PROPN cblr-1731 180 24 ( ( PUNCT cblr-1731 180 25 mar mar PROPN cblr-1731 180 26 . . PROPN cblr-1731 180 27 30 30 NUM cblr-1731 180 28 , , PUNCT cblr-1731 180 29 2011 2011 NUM cblr-1731 180 30 ) ) PUNCT cblr-1731 180 31 , , PUNCT cblr-1731 180 32 http://www.berkshirehathaway.com/news/mar3011.pdf http://www.berkshirehathaway.com/news/mar3011.pdf PROPN cblr-1731 181 1 [ [ X cblr-1731 181 2 http:// http:// PROPN cblr-1731 181 3 perma.cc/5gz2-awqd perma.cc/5gz2-awqd X cblr-1731 181 4 ] ] PUNCT cblr-1731 181 5 . . PUNCT cblr-1731 182 1 34 34 NUM cblr-1731 182 2 ben ben PROPN cblr-1731 182 3 claremon claremon PROPN cblr-1731 182 4 , , PUNCT cblr-1731 182 5 notes note NOUN cblr-1731 182 6 from from ADP cblr-1731 182 7 the the DET cblr-1731 182 8 2011 2011 NUM cblr-1731 182 9 berkshire berkshire NOUN cblr-1731 182 10 annual annual ADJ cblr-1731 182 11 meeting meeting NOUN cblr-1731 182 12 , , PUNCT cblr-1731 182 13 the the DET cblr-1731 182 14 inoculated inoculated ADJ cblr-1731 182 15 investor investor NOUN cblr-1731 182 16 ( ( PUNCT cblr-1731 182 17 may may PROPN cblr-1731 182 18 2 2 NUM cblr-1731 182 19 , , PUNCT cblr-1731 182 20 2011 2011 NUM cblr-1731 182 21 ) ) PUNCT cblr-1731 182 22 , , PUNCT cblr-1731 182 23 http://investing.kuchita.com/wpcunningham http://investing.kuchita.com/wpcunningham PROPN cblr-1731 182 24 – – PUNCT cblr-1731 182 25 final final ADJ cblr-1731 182 26 no no NOUN cblr-1731 182 27 . . NOUN cblr-1731 182 28 1:1 1:1 NUM cblr-1731 182 29 ] ] PUNCT cblr-1731 182 30 berkshire berkshire PROPN cblr-1731 182 31 ’s ’s PART cblr-1731 182 32 blemishes blemish NOUN cblr-1731 182 33 17 17 NUM cblr-1731 182 34 turned turn VERB cblr-1731 182 35 the the DET cblr-1731 182 36 matter matter NOUN cblr-1731 182 37 over over ADP cblr-1731 182 38 to to ADP cblr-1731 182 39 berkshire berkshire PROPN cblr-1731 182 40 ’s ’s PART cblr-1731 182 41 board board PROPN cblr-1731 182 42 audit audit PROPN cblr-1731 182 43 committee committee NOUN cblr-1731 182 44 which which PRON cblr-1731 182 45 , , PUNCT cblr-1731 182 46 with with ADP cblr-1731 182 47 assistance assistance NOUN cblr-1731 182 48 from from ADP cblr-1731 182 49 the the DET cblr-1731 182 50 law law NOUN cblr-1731 182 51 firm firm NOUN cblr-1731 182 52 munger munger PROPN cblr-1731 182 53 , , PUNCT cblr-1731 182 54 tolles tolles PROPN cblr-1731 182 55 & & CCONJ cblr-1731 182 56 olson olson PROPN cblr-1731 182 57 llp llp PROPN cblr-1731 182 58 , , PUNCT cblr-1731 182 59 condemned condemn VERB cblr-1731 182 60 sokol sokol PROPN cblr-1731 182 61 for for ADP cblr-1731 182 62 violating violate VERB cblr-1731 182 63 berkshire berkshire NOUN cblr-1731 182 64 policies policy NOUN cblr-1731 182 65 . . PUNCT cblr-1731 183 1 the the DET cblr-1731 183 2 executive executive ADJ cblr-1731 183 3 shuffles shuffle NOUN cblr-1731 183 4 at at ADP cblr-1731 183 5 netjets netjet NOUN cblr-1731 183 6 resembled resemble VERB cblr-1731 183 7 successive successive ADJ cblr-1731 183 8 shuffles shuffle NOUN cblr-1731 183 9 at at ADP cblr-1731 183 10 berkshire berkshire NOUN cblr-1731 183 11 ’s ’s PART cblr-1731 183 12 benjamin benjamin PROPN cblr-1731 183 13 moore moore PROPN cblr-1731 183 14 paint paint PROPN cblr-1731 183 15 manufacturing manufacturing NOUN cblr-1731 183 16 subsidiary subsidiary NOUN cblr-1731 183 17 . . PUNCT cblr-1731 184 1 when when SCONJ cblr-1731 184 2 berkshire berkshire PROPN cblr-1731 184 3 acquired acquire VERB cblr-1731 184 4 it it PRON cblr-1731 184 5 in in ADP cblr-1731 184 6 2000 2000 NUM cblr-1731 184 7 , , PUNCT cblr-1731 184 8 buffett buffett PROPN cblr-1731 184 9 personally personally ADV cblr-1731 184 10 promised promise VERB cblr-1731 184 11 to to PART cblr-1731 184 12 continue continue VERB cblr-1731 184 13 its its PRON cblr-1731 184 14 longstanding longstanding ADJ cblr-1731 184 15 practice practice NOUN cblr-1731 184 16 of of ADP cblr-1731 184 17 selling sell VERB cblr-1731 184 18 only only ADV cblr-1731 184 19 through through ADP cblr-1731 184 20 independent independent ADJ cblr-1731 184 21 distributors distributor NOUN cblr-1731 184 22 , , PUNCT cblr-1731 184 23 despite despite SCONJ cblr-1731 184 24 the the DET cblr-1731 184 25 rise rise NOUN cblr-1731 184 26 of of ADP cblr-1731 184 27 powerful powerful ADJ cblr-1731 184 28 big big ADJ cblr-1731 184 29 box box NOUN cblr-1731 184 30 retailers retailer NOUN cblr-1731 184 31 such such ADJ cblr-1731 184 32 as as ADP cblr-1731 184 33 home home NOUN cblr-1731 184 34 depot depot NOUN cblr-1731 184 35 and and CCONJ cblr-1731 184 36 lowe’s.35 lowe’s.35 NOUN cblr-1731 184 37 by by ADP cblr-1731 184 38 2012 2012 NUM cblr-1731 184 39 , , PUNCT cblr-1731 184 40 however however ADV cblr-1731 184 41 , , PUNCT cblr-1731 184 42 after after ADP cblr-1731 184 43 five five NUM cblr-1731 184 44 years year NOUN cblr-1731 184 45 at at ADP cblr-1731 184 46 the the DET cblr-1731 184 47 helm helm NOUN cblr-1731 184 48 , , PUNCT cblr-1731 184 49 denis denis PROPN cblr-1731 184 50 abrams abrams PROPN cblr-1731 184 51 was be AUX cblr-1731 184 52 replaced replace VERB cblr-1731 184 53 for for ADP cblr-1731 184 54 planning planning NOUN cblr-1731 184 55 to to PART cblr-1731 184 56 sell sell VERB cblr-1731 184 57 paint paint NOUN cblr-1731 184 58 through through ADP cblr-1731 184 59 such such ADJ cblr-1731 184 60 retailers.36 retailers.36 NOUN cblr-1731 184 61 to to PART cblr-1731 184 62 find find VERB cblr-1731 184 63 a a DET cblr-1731 184 64 replacement replacement NOUN cblr-1731 184 65 , , PUNCT cblr-1731 184 66 buffett buffett PROPN cblr-1731 184 67 turned turn VERB cblr-1731 184 68 to to ADP cblr-1731 184 69 his his PRON cblr-1731 184 70 newly newly ADV cblr-1731 184 71 - - PUNCT cblr-1731 184 72 hired hire VERB cblr-1731 184 73 management management NOUN cblr-1731 184 74 assistant assistant NOUN cblr-1731 184 75 , , PUNCT cblr-1731 184 76 twentyeight twentyeight ADJ cblr-1731 184 77 - - PUNCT cblr-1731 184 78 year year NOUN cblr-1731 184 79 - - PUNCT cblr-1731 184 80 old old ADJ cblr-1731 184 81 tracy tracy PROPN cblr-1731 184 82 britt britt PROPN cblr-1731 184 83 cool cool PROPN cblr-1731 184 84 . . PUNCT cblr-1731 185 1 the the DET cblr-1731 185 2 recently recently ADV cblr-1731 185 3 - - PUNCT cblr-1731 185 4 minted mint VERB cblr-1731 185 5 harvard harvard PROPN cblr-1731 185 6 mba mba PROPN cblr-1731 185 7 suggested suggest VERB cblr-1731 185 8 robert robert PROPN cblr-1731 185 9 merritt merritt PROPN cblr-1731 185 10 , , PUNCT cblr-1731 185 11 who who PRON cblr-1731 185 12 was be AUX cblr-1731 185 13 installed instal VERB cblr-1731 185 14 . . PUNCT cblr-1731 186 1 but but CCONJ cblr-1731 186 2 not not PART cblr-1731 186 3 two two NUM cblr-1731 186 4 years year NOUN cblr-1731 186 5 later later ADV cblr-1731 186 6 , , PUNCT cblr-1731 186 7 merritt merritt PROPN cblr-1731 186 8 succumbed succumb VERB cblr-1731 186 9 to to ADP cblr-1731 186 10 the the DET cblr-1731 186 11 same same ADJ cblr-1731 186 12 fate fate NOUN cblr-1731 186 13 . . PUNCT cblr-1731 187 1 surrounding surround VERB cblr-1731 187 2 both both DET cblr-1731 187 3 episodes episode NOUN cblr-1731 187 4 was be AUX cblr-1731 187 5 an an DET cblr-1731 187 6 atmosphere atmosphere NOUN cblr-1731 187 7 of of ADP cblr-1731 187 8 crisis crisis NOUN cblr-1731 187 9 , , PUNCT cblr-1731 187 10 with with ADP cblr-1731 187 11 distributors distributor NOUN cblr-1731 187 12 and and CCONJ cblr-1731 187 13 other other ADJ cblr-1731 187 14 constituents constituent NOUN cblr-1731 187 15 complaining complain VERB cblr-1731 187 16 about about ADP cblr-1731 187 17 the the DET cblr-1731 187 18 degradation degradation NOUN cblr-1731 187 19 of of ADP cblr-1731 187 20 the the DET cblr-1731 187 21 company company NOUN cblr-1731 187 22 amid amid ADP cblr-1731 187 23 wonder wonder NOUN cblr-1731 187 24 about about ADP cblr-1731 187 25 how how SCONJ cblr-1731 187 26 such such DET cblr-1731 187 27 a a DET cblr-1731 187 28 great great ADJ cblr-1731 187 29 company company NOUN cblr-1731 187 30 could could AUX cblr-1731 187 31 have have AUX cblr-1731 187 32 taken take VERB cblr-1731 187 33 such such DET cblr-1731 187 34 a a DET cblr-1731 187 35 deep deep ADJ cblr-1731 187 36 plunge plunge NOUN cblr-1731 187 37 . . PUNCT cblr-1731 188 1 the the DET cblr-1731 188 2 benjamin benjamin PROPN cblr-1731 188 3 moore moore PROPN cblr-1731 188 4 departures departure NOUN cblr-1731 188 5 reveal reveal VERB cblr-1731 188 6 two two NUM cblr-1731 188 7 variations variation NOUN cblr-1731 188 8 on on ADP cblr-1731 188 9 the the DET cblr-1731 188 10 costs cost NOUN cblr-1731 188 11 of of ADP cblr-1731 188 12 the the DET cblr-1731 188 13 berkshire berkshire NOUN cblr-1731 188 14 model model NOUN cblr-1731 188 15 as as SCONJ cblr-1731 188 16 it it PRON cblr-1731 188 17 relates relate VERB cblr-1731 188 18 to to ADP cblr-1731 188 19 executive executive VERB cblr-1731 188 20 oversight.37 oversight.37 PROPN cblr-1731 188 21 the the DET cblr-1731 188 22 first first ADJ cblr-1731 188 23 concerns concern NOUN cblr-1731 188 24 how how SCONJ cblr-1731 188 25 executives executive NOUN cblr-1731 188 26 are be AUX cblr-1731 188 27 chosen choose VERB cblr-1731 188 28 at at ADP cblr-1731 188 29 berkshire berkshire NOUN cblr-1731 188 30 , , PUNCT cblr-1731 188 31 which which PRON cblr-1731 188 32 is be AUX cblr-1731 188 33 through through ADP cblr-1731 188 34 internal internal ADJ cblr-1731 188 35 and and CCONJ cblr-1731 188 36 informal informal ADJ cblr-1731 188 37 means mean NOUN cblr-1731 188 38 rather rather ADV cblr-1731 188 39 than than ADP cblr-1731 188 40 the the DET cblr-1731 188 41 conventional conventional ADJ cblr-1731 188 42 route route NOUN cblr-1731 188 43 of of ADP cblr-1731 188 44 using use VERB cblr-1731 188 45 an an DET cblr-1731 188 46 external external ADJ cblr-1731 188 47 executive executive ADJ cblr-1731 188 48 search search NOUN cblr-1731 188 49 firm firm NOUN cblr-1731 188 50 . . PUNCT cblr-1731 189 1 the the DET cblr-1731 189 2 second second ADJ cblr-1731 189 3 cost cost NOUN cblr-1731 189 4 of of ADP cblr-1731 189 5 the the DET cblr-1731 189 6 benjamin benjamin PROPN cblr-1731 189 7 moore moore PROPN cblr-1731 189 8 shuffles shuffle VERB cblr-1731 189 9 concerns concern VERB cblr-1731 189 10 the the DET cblr-1731 189 11 wisdom wisdom NOUN cblr-1731 189 12 of of ADP cblr-1731 189 13 buffett buffett PROPN cblr-1731 189 14 ’s ’s PART cblr-1731 189 15 commitment commitment NOUN cblr-1731 189 16 to to PART cblr-1731 189 17 maintain maintain VERB cblr-1731 189 18 benjamin benjamin PROPN cblr-1731 189 19 moore moore PROPN cblr-1731 189 20 ’s ’s PART cblr-1731 189 21 old old ADJ cblr-1731 189 22 - - PUNCT cblr-1731 189 23 fashioned fashioned ADJ cblr-1731 189 24 distributorship distributorship NOUN cblr-1731 189 25 content content NOUN cblr-1731 189 26 / / SYM cblr-1731 189 27 uploads/2011/04/2011 uploads/2011/04/2011 NOUN cblr-1731 189 28 - - PUNCT cblr-1731 189 29 berkshire berkshire NOUN cblr-1731 189 30 - - PUNCT cblr-1731 189 31 annual annual ADJ cblr-1731 189 32 - - PUNCT cblr-1731 189 33 meeting meeting NOUN cblr-1731 189 34 - - PUNCT cblr-1731 189 35 notes.pdf notes.pdf PROPN cblr-1731 189 36 [ [ X cblr-1731 189 37 http://perma.cc/7tzz-8l6s http://perma.cc/7tzz-8l6s X cblr-1731 189 38 ] ] X cblr-1731 189 39 . . PUNCT cblr-1731 190 1 35 35 NUM cblr-1731 190 2 see see VERB cblr-1731 190 3 cunningham cunningham PROPN cblr-1731 190 4 , , PUNCT cblr-1731 190 5 berkshire berkshire PROPN cblr-1731 190 6 beyond beyond ADP cblr-1731 190 7 buffett buffett PROPN cblr-1731 190 8 , , PUNCT cblr-1731 190 9 supra supra PROPN cblr-1731 190 10 note note PROPN cblr-1731 190 11 6 6 NUM cblr-1731 190 12 , , PUNCT cblr-1731 190 13 at at ADP cblr-1731 190 14 66 66 NUM cblr-1731 190 15 – – PUNCT cblr-1731 190 16 67 67 NUM cblr-1731 190 17 . . PUNCT cblr-1731 190 18 36 36 NUM cblr-1731 190 19 james james PROPN cblr-1731 190 20 covert covert PROPN cblr-1731 190 21 , , PUNCT cblr-1731 190 22 warren warren PROPN cblr-1731 190 23 buffett buffett PROPN cblr-1731 190 24 fired fire VERB cblr-1731 190 25 benjamin benjamin PROPN cblr-1731 190 26 moore moore PROPN cblr-1731 190 27 ceo ceo PROPN cblr-1731 190 28 after after ADP cblr-1731 190 29 bermuda bermuda PROPN cblr-1731 190 30 cruise cruise PROPN cblr-1731 190 31 , , PUNCT cblr-1731 190 32 n.y n.y PROPN cblr-1731 190 33 . . PROPN cblr-1731 190 34 post post PROPN cblr-1731 190 35 ( ( PUNCT cblr-1731 190 36 june june PROPN cblr-1731 190 37 15 15 NUM cblr-1731 190 38 , , PUNCT cblr-1731 190 39 2012 2012 NUM cblr-1731 190 40 ) ) PUNCT cblr-1731 190 41 , , PUNCT cblr-1731 191 1 http://nypost.com/2012/06/15/ http://nypost.com/2012/06/15/ PROPN cblr-1731 191 2 warren warren PROPN cblr-1731 191 3 - - PUNCT cblr-1731 191 4 buffett buffett PROPN cblr-1731 191 5 - - PUNCT cblr-1731 191 6 fired fire VERB cblr-1731 191 7 - - PUNCT cblr-1731 191 8 benjamin benjamin NOUN cblr-1731 191 9 - - PUNCT cblr-1731 191 10 moore moore NOUN cblr-1731 191 11 - - PUNCT cblr-1731 191 12 ceo ceo NOUN cblr-1731 191 13 - - PUNCT cblr-1731 191 14 after after ADP cblr-1731 191 15 - - PUNCT cblr-1731 191 16 bermuda bermuda NOUN cblr-1731 191 17 - - PUNCT cblr-1731 191 18 cruise cruise PROPN cblr-1731 191 19 [ [ X cblr-1731 191 20 http:// http:// PROPN cblr-1731 191 21 perma.cc/d2bb-t4ey perma.cc/d2bb-t4ey PROPN cblr-1731 191 22 ] ] X cblr-1731 191 23 . . PUNCT cblr-1731 192 1 37 37 NUM cblr-1731 192 2 see see VERB cblr-1731 192 3 lawrence lawrence PROPN cblr-1731 192 4 a. a. PROPN cblr-1731 192 5 cunningham cunningham PROPN cblr-1731 192 6 , , PUNCT cblr-1731 192 7 netjets netjet NOUN cblr-1731 192 8 shuffle shuffle VERB cblr-1731 192 9 : : PUNCT cblr-1731 192 10 costs cost NOUN cblr-1731 192 11 of of ADP cblr-1731 192 12 deviations deviation NOUN cblr-1731 192 13 from from ADP cblr-1731 192 14 the the DET cblr-1731 192 15 berkshire berkshire PROPN cblr-1731 192 16 model model NOUN cblr-1731 192 17 , , PUNCT cblr-1731 192 18 value value NOUN cblr-1731 192 19 walk walk NOUN cblr-1731 192 20 ( ( PUNCT cblr-1731 192 21 june june PROPN cblr-1731 192 22 1 1 NUM cblr-1731 192 23 , , PUNCT cblr-1731 192 24 2015 2015 NUM cblr-1731 192 25 ) ) PUNCT cblr-1731 192 26 , , PUNCT cblr-1731 192 27 http://www http://www PROPN cblr-1731 192 28 . . PUNCT cblr-1731 193 1 valuewalk.com/2015/06/netjets-ceo-buffett valuewalk.com/2015/06/netjets-ceo-buffett PROPN cblr-1731 193 2 [ [ X cblr-1731 193 3 http://perma.cc/mck7-4dfw http://perma.cc/mck7-4dfw X cblr-1731 193 4 ] ] X cblr-1731 193 5 . . PUNCT cblr-1731 194 1 cunningham cunningham PROPN cblr-1731 194 2 – – PUNCT cblr-1731 194 3 final final ADJ cblr-1731 194 4 18 18 NUM cblr-1731 194 5 columbia columbia PROPN cblr-1731 194 6 business business NOUN cblr-1731 194 7 law law PROPN cblr-1731 194 8 review review NOUN cblr-1731 194 9 [ [ X cblr-1731 194 10 vol vol NOUN cblr-1731 194 11 . . NOUN cblr-1731 194 12 2016 2016 NUM cblr-1731 194 13 in in ADP cblr-1731 194 14 the the DET cblr-1731 194 15 first first ADJ cblr-1731 194 16 place.38 place.38 NOUN cblr-1731 194 17 two two NUM cblr-1731 194 18 successive successive ADJ cblr-1731 194 19 ceos ceos NOUN cblr-1731 194 20 reflected reflect VERB cblr-1731 194 21 an an DET cblr-1731 194 22 intuition intuition NOUN cblr-1731 194 23 about about ADP cblr-1731 194 24 the the DET cblr-1731 194 25 difficulty difficulty NOUN cblr-1731 194 26 of of ADP cblr-1731 194 27 exclusively exclusively ADV cblr-1731 194 28 selling sell VERB cblr-1731 194 29 paint paint NOUN cblr-1731 194 30 that that DET cblr-1731 194 31 way way NOUN cblr-1731 194 32 given give VERB cblr-1731 194 33 contemporary contemporary ADJ cblr-1731 194 34 distribution distribution NOUN cblr-1731 194 35 channels channel NOUN cblr-1731 194 36 . . PUNCT cblr-1731 195 1 yet yet ADV cblr-1731 195 2 they they PRON cblr-1731 195 3 were be AUX cblr-1731 195 4 handcuffed handcuff VERB cblr-1731 195 5 by by ADP cblr-1731 195 6 a a DET cblr-1731 195 7 commitment commitment NOUN cblr-1731 195 8 made make VERB cblr-1731 195 9 solely solely ADV cblr-1731 195 10 by by ADP cblr-1731 195 11 buffett buffett PROPN cblr-1731 195 12 , , PUNCT cblr-1731 195 13 which which PRON cblr-1731 195 14 might might AUX cblr-1731 195 15 have have AUX cblr-1731 195 16 been be AUX cblr-1731 195 17 different different ADJ cblr-1731 195 18 if if SCONJ cblr-1731 195 19 vetted vet VERB cblr-1731 195 20 through through ADP cblr-1731 195 21 the the DET cblr-1731 195 22 berkshire berkshire PROPN cblr-1731 195 23 board board NOUN cblr-1731 195 24 or or CCONJ cblr-1731 195 25 a a DET cblr-1731 195 26 committee committee NOUN cblr-1731 195 27 , , PUNCT cblr-1731 195 28 an an DET cblr-1731 195 29 industry industry NOUN cblr-1731 195 30 consultant consultant NOUN cblr-1731 195 31 , , PUNCT cblr-1731 195 32 or or CCONJ cblr-1731 195 33 at at ADP cblr-1731 195 34 least least ADJ cblr-1731 195 35 a a DET cblr-1731 195 36 group group NOUN cblr-1731 195 37 of of ADP cblr-1731 195 38 executives executive NOUN cblr-1731 195 39 with with ADP cblr-1731 195 40 direct direct ADJ cblr-1731 195 41 merchandising merchandising NOUN cblr-1731 195 42 experience experience NOUN cblr-1731 195 43 — — PUNCT cblr-1731 195 44 all all PRON cblr-1731 195 45 of of ADP cblr-1731 195 46 which which PRON cblr-1731 195 47 is be AUX cblr-1731 195 48 alien alien ADJ cblr-1731 195 49 to to ADP cblr-1731 195 50 the the DET cblr-1731 195 51 berkshire berkshire PROPN cblr-1731 195 52 model model NOUN cblr-1731 195 53 . . PUNCT cblr-1731 196 1 the the DET cblr-1731 196 2 costs cost NOUN cblr-1731 196 3 of of ADP cblr-1731 196 4 managerial managerial ADJ cblr-1731 196 5 succession succession NOUN cblr-1731 196 6 crisis crisis NOUN cblr-1731 196 7 could could AUX cblr-1731 196 8 be be AUX cblr-1731 196 9 mitigated mitigate VERB cblr-1731 196 10 by by ADP cblr-1731 196 11 modest modest ADJ cblr-1731 196 12 expansion expansion NOUN cblr-1731 196 13 of of ADP cblr-1731 196 14 corporate corporate ADJ cblr-1731 196 15 bureaucracy bureaucracy NOUN cblr-1731 196 16 ( ( PUNCT cblr-1731 196 17 like like ADP cblr-1731 196 18 asking ask VERB cblr-1731 196 19 a a DET cblr-1731 196 20 board board NOUN cblr-1731 196 21 committee committee NOUN cblr-1731 196 22 ’s ’s PART cblr-1731 196 23 opinion opinion NOUN cblr-1731 196 24 on on ADP cblr-1731 196 25 executive executive ADJ cblr-1731 196 26 personnel personnel NOUN cblr-1731 196 27 decisions decision NOUN cblr-1731 196 28 ) ) PUNCT cblr-1731 196 29 or or CCONJ cblr-1731 196 30 slight slight ADJ cblr-1731 196 31 diminution diminution NOUN cblr-1731 196 32 of of ADP cblr-1731 196 33 the the DET cblr-1731 196 34 trust trust NOUN cblr-1731 196 35 - - PUNCT cblr-1731 196 36 based base VERB cblr-1731 196 37 culture culture NOUN cblr-1731 196 38 ( ( PUNCT cblr-1731 196 39 such such ADJ cblr-1731 196 40 as as ADP cblr-1731 196 41 conducting conduct VERB cblr-1731 196 42 background background NOUN cblr-1731 196 43 checks check NOUN cblr-1731 196 44 or or CCONJ cblr-1731 196 45 adding add VERB cblr-1731 196 46 periodic periodic ADJ cblr-1731 196 47 reviews review NOUN cblr-1731 196 48 and and CCONJ cblr-1731 196 49 evaluations evaluation NOUN cblr-1731 196 50 ) ) PUNCT cblr-1731 196 51 . . PUNCT cblr-1731 197 1 in in ADP cblr-1731 197 2 connection connection NOUN cblr-1731 197 3 with with ADP cblr-1731 197 4 berkshire berkshire NOUN cblr-1731 197 5 ’s ’s PART cblr-1731 197 6 annual annual ADJ cblr-1731 197 7 meeting meeting NOUN cblr-1731 197 8 in in ADP cblr-1731 197 9 the the DET cblr-1731 197 10 past past ADJ cblr-1731 197 11 few few ADJ cblr-1731 197 12 years year NOUN cblr-1731 197 13 , , PUNCT cblr-1731 197 14 i i PRON cblr-1731 197 15 have have AUX cblr-1731 197 16 observed observe VERB cblr-1731 197 17 berkshire berkshire NOUN cblr-1731 197 18 moving move VERB cblr-1731 197 19 in in ADP cblr-1731 197 20 this this DET cblr-1731 197 21 direction direction NOUN cblr-1731 197 22 — — PUNCT cblr-1731 197 23 for for ADP cblr-1731 197 24 example example NOUN cblr-1731 197 25 , , PUNCT cblr-1731 197 26 regular regular ADJ cblr-1731 197 27 annual annual ADJ cblr-1731 197 28 meetings meeting NOUN cblr-1731 197 29 of of ADP cblr-1731 197 30 the the DET cblr-1731 197 31 subsidiary subsidiary ADJ cblr-1731 197 32 ceos ceos NOUN cblr-1731 197 33 or or CCONJ cblr-1731 197 34 sometimes sometimes ADV cblr-1731 197 35 joining join VERB cblr-1731 197 36 the the DET cblr-1731 197 37 board board NOUN cblr-1731 197 38 without without ADP cblr-1731 197 39 buffett buffett PROPN cblr-1731 197 40 ’s ’s PART cblr-1731 197 41 presence presence NOUN cblr-1731 197 42 . . PUNCT cblr-1731 198 1 buffett buffett PROPN cblr-1731 198 2 ’s ’s PART cblr-1731 198 3 successor successor NOUN cblr-1731 198 4 will will AUX cblr-1731 198 5 likely likely ADV cblr-1731 198 6 organize organize VERB cblr-1731 198 7 berkshire berkshire NOUN cblr-1731 198 8 into into ADP cblr-1731 198 9 some some DET cblr-1731 198 10 dozen dozen NOUN cblr-1731 198 11 divisions division NOUN cblr-1731 198 12 whose whose DET cblr-1731 198 13 heads head NOUN cblr-1731 198 14 report report VERB cblr-1731 198 15 to to ADP cblr-1731 198 16 headquarters headquarters NOUN cblr-1731 198 17 — — PUNCT cblr-1731 198 18 the the DET cblr-1731 198 19 model model NOUN cblr-1731 198 20 followed follow VERB cblr-1731 198 21 at at ADP cblr-1731 198 22 the the DET cblr-1731 198 23 marmon marmon PROPN cblr-1731 198 24 group group NOUN cblr-1731 198 25 , , PUNCT cblr-1731 198 26 a a DET cblr-1731 198 27 mini mini NOUN cblr-1731 198 28 - - NOUN cblr-1731 198 29 berkshire berkshire NOUN cblr-1731 198 30 created create VERB cblr-1731 198 31 by by ADP cblr-1731 198 32 the the DET cblr-1731 198 33 fabled fabled ADJ cblr-1731 198 34 pritzker pritzker PROPN cblr-1731 198 35 brothers brother NOUN cblr-1731 198 36 and and CCONJ cblr-1731 198 37 now now ADV cblr-1731 198 38 a a DET cblr-1731 198 39 berkshire berkshire NOUN cblr-1731 198 40 subsidiary.39 subsidiary.39 PROPN cblr-1731 198 41 c. c. NOUN cblr-1731 198 42 externalities externality NOUN cblr-1731 198 43 of of ADP cblr-1731 198 44 decentralization decentralization NOUN cblr-1731 198 45 : : PUNCT cblr-1731 198 46 consumers consumer NOUN cblr-1731 198 47 / / SYM cblr-1731 198 48 workers worker NOUN cblr-1731 198 49 buffett buffett PROPN cblr-1731 198 50 delegates delegate NOUN cblr-1731 198 51 nearly nearly ADV cblr-1731 198 52 unbridled unbridle VERB cblr-1731 198 53 discretion discretion NOUN cblr-1731 198 54 to to PART cblr-1731 198 55 subsidiary subsidiary VERB cblr-1731 198 56 chief chief ADJ cblr-1731 198 57 executives executive NOUN cblr-1731 198 58 ; ; PUNCT cblr-1731 198 59 many many ADJ cblr-1731 198 60 of of ADP cblr-1731 198 61 those those DET cblr-1731 198 62 likewise likewise ADV cblr-1731 198 63 delegate delegate NOUN cblr-1731 198 64 power power NOUN cblr-1731 198 65 to to ADP cblr-1731 198 66 heads head NOUN cblr-1731 198 67 of of ADP cblr-1731 198 68 divisions division NOUN cblr-1731 198 69 , , PUNCT cblr-1731 198 70 and and CCONJ cblr-1731 198 71 many many ADJ cblr-1731 198 72 berkshire berkshire NOUN cblr-1731 198 73 companies company NOUN cblr-1731 198 74 38 38 NUM cblr-1731 198 75 see see VERB cblr-1731 198 76 steve steve PROPN cblr-1731 198 77 jordon jordon PROPN cblr-1731 198 78 , , PUNCT cblr-1731 198 79 warren warren PROPN cblr-1731 198 80 buffett buffett PROPN cblr-1731 198 81 says say VERB cblr-1731 198 82 he he PRON cblr-1731 198 83 replaced replace VERB cblr-1731 198 84 benjamin benjamin PROPN cblr-1731 198 85 moore moore PROPN cblr-1731 198 86 ’s ’s PART cblr-1731 198 87 ceo ceo PROPN cblr-1731 198 88 to to PART cblr-1731 198 89 keep keep VERB cblr-1731 198 90 a a DET cblr-1731 198 91 promise promise NOUN cblr-1731 198 92 , , PUNCT cblr-1731 198 93 omaha omaha NOUN cblr-1731 198 94 world world PROPN cblr-1731 198 95 - - PUNCT cblr-1731 198 96 herald herald PROPN cblr-1731 198 97 ( ( PUNCT cblr-1731 198 98 oct oct PROPN cblr-1731 198 99 . . PROPN cblr-1731 198 100 16 16 NUM cblr-1731 198 101 , , PUNCT cblr-1731 198 102 2013 2013 NUM cblr-1731 198 103 ) ) PUNCT cblr-1731 198 104 , , PUNCT cblr-1731 198 105 http://www.omaha.com/money/warren-buffett-says-he-replaced-benjaminmoore-s-ceo-to/article_1c0cb4b7-b2bc-514e-a6a3-ae9697c2ee6f.html http://www.omaha.com/money/warren-buffett-says-he-replaced-benjaminmoore-s-ceo-to/article_1c0cb4b7-b2bc-514e-a6a3-ae9697c2ee6f.html VERB cblr-1731 199 1 [ [ X cblr-1731 199 2 http:// http:// PROPN cblr-1731 199 3 perma.cc/hmy8-uu6k perma.cc/hmy8-uu6k PROPN cblr-1731 199 4 ] ] PUNCT cblr-1731 199 5 ; ; PUNCT cblr-1731 199 6 james james PROPN cblr-1731 199 7 covert covert PROPN cblr-1731 199 8 , , PUNCT cblr-1731 199 9 warren warren PROPN cblr-1731 199 10 buffett buffett PROPN cblr-1731 199 11 cans cans PROPN cblr-1731 199 12 benjamin benjamin PROPN cblr-1731 199 13 moore moore PROPN cblr-1731 199 14 ceo ceo PROPN cblr-1731 199 15 , , PUNCT cblr-1731 199 16 n.y n.y PROPN cblr-1731 199 17 . . PROPN cblr-1731 199 18 post post PROPN cblr-1731 199 19 ( ( PUNCT cblr-1731 199 20 sept sept PROPN cblr-1731 199 21 . . PROPN cblr-1731 199 22 27 27 NUM cblr-1731 199 23 , , PUNCT cblr-1731 199 24 2013 2013 NUM cblr-1731 199 25 ) ) PUNCT cblr-1731 199 26 , , PUNCT cblr-1731 199 27 http://nypost.com/2013/09/27/ http://nypost.com/2013/09/27/ PROPN cblr-1731 199 28 warren warren PROPN cblr-1731 199 29 - - PUNCT cblr-1731 199 30 buffett buffett PROPN cblr-1731 199 31 - - PUNCT cblr-1731 199 32 cans cans PROPN cblr-1731 199 33 - - PUNCT cblr-1731 199 34 benjamin benjamin NOUN cblr-1731 199 35 - - PUNCT cblr-1731 199 36 moore moore NOUN cblr-1731 199 37 - - PUNCT cblr-1731 199 38 ceo ceo NOUN cblr-1731 199 39 [ [ X cblr-1731 199 40 http://perma.cc/89uj-ejxz http://perma.cc/89uj-ejxz NOUN cblr-1731 199 41 ] ] X cblr-1731 199 42 . . PUNCT cblr-1731 200 1 39 39 NUM cblr-1731 200 2 see see VERB cblr-1731 200 3 cunningham cunningham PROPN cblr-1731 200 4 , , PUNCT cblr-1731 200 5 berkshire berkshire PROPN cblr-1731 200 6 beyond beyond ADP cblr-1731 200 7 buffett buffett PROPN cblr-1731 200 8 , , PUNCT cblr-1731 200 9 supra supra PROPN cblr-1731 200 10 note note PROPN cblr-1731 200 11 6 6 NUM cblr-1731 200 12 , , PUNCT cblr-1731 200 13 at at ADP cblr-1731 200 14 167–73 167–73 NUM cblr-1731 200 15 . . PUNCT cblr-1731 201 1 cunningham cunningham PROPN cblr-1731 201 2 – – PUNCT cblr-1731 201 3 final final ADJ cblr-1731 201 4 no no NOUN cblr-1731 201 5 . . NOUN cblr-1731 201 6 1:1 1:1 NUM cblr-1731 201 7 ] ] PUNCT cblr-1731 201 8 berkshire berkshire PROPN cblr-1731 201 9 ’s ’s PART cblr-1731 201 10 blemishes blemish NOUN cblr-1731 201 11 19 19 NUM cblr-1731 201 12 are be AUX cblr-1731 201 13 premised premise VERB cblr-1731 201 14 on on ADP cblr-1731 201 15 decentralization.40 decentralization.40 PROPN cblr-1731 201 16 the the DET cblr-1731 201 17 vast vast ADJ cblr-1731 201 18 majority majority NOUN cblr-1731 201 19 discharge discharge NOUN cblr-1731 201 20 duties duty NOUN cblr-1731 201 21 faithfully faithfully ADV cblr-1731 201 22 and and CCONJ cblr-1731 201 23 without without ADP cblr-1731 201 24 public public ADJ cblr-1731 201 25 incident incident NOUN cblr-1731 201 26 , , PUNCT cblr-1731 201 27 in in ADP cblr-1731 201 28 accordance accordance NOUN cblr-1731 201 29 with with ADP cblr-1731 201 30 tenets tenet NOUN cblr-1731 201 31 of of ADP cblr-1731 201 32 berkshire berkshire NOUN cblr-1731 201 33 culture culture NOUN cblr-1731 201 34 , , PUNCT cblr-1731 201 35 including include VERB cblr-1731 201 36 integrity integrity NOUN cblr-1731 201 37 . . PUNCT cblr-1731 202 1 but but CCONJ cblr-1731 202 2 there there PRON cblr-1731 202 3 are be VERB cblr-1731 202 4 exceptions exception NOUN cblr-1731 202 5 or or CCONJ cblr-1731 202 6 awkward awkward ADJ cblr-1731 202 7 circumstances circumstance NOUN cblr-1731 202 8 that that PRON cblr-1731 202 9 result result VERB cblr-1731 202 10 in in ADP cblr-1731 202 11 mistreatment mistreatment NOUN cblr-1731 202 12 of of ADP cblr-1731 202 13 consumers consumer NOUN cblr-1731 202 14 and and CCONJ cblr-1731 202 15 workers worker NOUN cblr-1731 202 16 . . PUNCT cblr-1731 203 1 a a DET cblr-1731 203 2 chief chief ADJ cblr-1731 203 3 concern concern NOUN cblr-1731 203 4 of of ADP cblr-1731 203 5 any any DET cblr-1731 203 6 decentralized decentralize VERB cblr-1731 203 7 business business NOUN cblr-1731 203 8 model model NOUN cblr-1731 203 9 is be AUX cblr-1731 203 10 policing police VERB cblr-1731 203 11 personnel personnel NOUN cblr-1731 203 12 , , PUNCT cblr-1731 203 13 such such ADJ cblr-1731 203 14 as as ADP cblr-1731 203 15 when when SCONJ cblr-1731 203 16 distributors distributor NOUN cblr-1731 203 17 mistreat mistreat VERB cblr-1731 203 18 dealers41 dealers41 NOUN cblr-1731 203 19 or or CCONJ cblr-1731 203 20 when when SCONJ cblr-1731 203 21 dealers dealer NOUN cblr-1731 203 22 use use VERB cblr-1731 203 23 illegal illegal ADJ cblr-1731 203 24 high high ADV cblr-1731 203 25 - - PUNCT cblr-1731 203 26 pressured pressure VERB cblr-1731 203 27 sales sale NOUN cblr-1731 203 28 tactics tactic NOUN cblr-1731 203 29 . . PUNCT cblr-1731 204 1 at at ADP cblr-1731 204 2 berkshire berkshire PROPN cblr-1731 204 3 ’s ’s PART cblr-1731 204 4 scott scott PROPN cblr-1731 204 5 fetzer fetzer PROPN cblr-1731 204 6 subsidiary subsidiary PROPN cblr-1731 204 7 , , PUNCT cblr-1731 204 8 distributors distributor NOUN cblr-1731 204 9 of of ADP cblr-1731 204 10 kirby kirby PROPN cblr-1731 204 11 vacuums vacuum NOUN cblr-1731 204 12 are be AUX cblr-1731 204 13 autonomous autonomous ADJ cblr-1731 204 14 businesses.42 businesses.42 NOUN cblr-1731 205 1 but but CCONJ cblr-1731 205 2 they they PRON cblr-1731 205 3 also also ADV cblr-1731 205 4 represent represent VERB cblr-1731 205 5 the the DET cblr-1731 205 6 brand brand NOUN cblr-1731 205 7 and and CCONJ cblr-1731 205 8 company company NOUN cblr-1731 205 9 . . PUNCT cblr-1731 206 1 in in ADP cblr-1731 206 2 the the DET cblr-1731 206 3 past past NOUN cblr-1731 206 4 , , PUNCT cblr-1731 206 5 some some PRON cblr-1731 206 6 violated violate VERB cblr-1731 206 7 company company NOUN cblr-1731 206 8 policy policy NOUN cblr-1731 206 9 on on ADP cblr-1731 206 10 proper proper ADJ cblr-1731 206 11 marketing marketing NOUN cblr-1731 206 12 and and CCONJ cblr-1731 206 13 employment employment NOUN cblr-1731 206 14 practices practice NOUN cblr-1731 206 15 or or CCONJ cblr-1731 206 16 even even ADV cblr-1731 206 17 broke break VERB cblr-1731 206 18 consumer consumer NOUN cblr-1731 206 19 protection protection NOUN cblr-1731 206 20 and and CCONJ cblr-1731 206 21 fair fair ADJ cblr-1731 206 22 labor labor NOUN cblr-1731 206 23 laws.43 laws.43 ADJ cblr-1731 206 24 private private ADJ cblr-1731 206 25 lawsuits lawsuit NOUN cblr-1731 206 26 and and CCONJ cblr-1731 206 27 state state NOUN cblr-1731 206 28 enforcement enforcement NOUN cblr-1731 206 29 actions action NOUN cblr-1731 206 30 resulted.44 resulted.44 NOUN cblr-1731 206 31 in in ADP cblr-1731 206 32 addition addition NOUN cblr-1731 206 33 to to ADP cblr-1731 206 34 naming name VERB cblr-1731 206 35 the the DET cblr-1731 206 36 individual individual ADJ cblr-1731 206 37 businesses business NOUN cblr-1731 206 38 as as ADP cblr-1731 206 39 defendants defendant NOUN cblr-1731 206 40 , , PUNCT cblr-1731 206 41 these these DET cblr-1731 206 42 claims claim NOUN cblr-1731 206 43 often often ADV cblr-1731 206 44 also also ADV cblr-1731 206 45 allege allege VERB cblr-1731 206 46 that that SCONJ cblr-1731 206 47 scott scott PROPN cblr-1731 206 48 fetzer fetzer PROPN cblr-1731 206 49 and and CCONJ cblr-1731 206 50 , , PUNCT cblr-1731 206 51 therefore therefore ADV cblr-1731 206 52 by by ADP cblr-1731 206 53 extension extension NOUN cblr-1731 206 54 , , PUNCT cblr-1731 206 55 berkshire berkshire NOUN cblr-1731 206 56 are be AUX cblr-1731 206 57 culpable.45 culpable.45 NOUN cblr-1731 206 58 such such ADJ cblr-1731 206 59 criticisms criticism NOUN cblr-1731 206 60 appear appear VERB cblr-1731 206 61 to to PART cblr-1731 206 62 have have AUX cblr-1731 206 63 been be AUX cblr-1731 206 64 more more ADV cblr-1731 206 65 common common ADJ cblr-1731 206 66 in in ADP cblr-1731 206 67 the the DET cblr-1731 206 68 1990s 1990s NUM cblr-1731 206 69 , , PUNCT cblr-1731 206 70 but but CCONJ cblr-1731 206 71 they they PRON cblr-1731 206 72 persisted.46 persisted.46 VERB cblr-1731 206 73 yet yet ADV cblr-1731 206 74 avoiding avoid VERB cblr-1731 206 75 the the DET cblr-1731 206 76 costs cost NOUN cblr-1731 206 77 of of ADP cblr-1731 206 78 legal legal ADJ cblr-1731 206 79 entanglements entanglement NOUN cblr-1731 206 80 and and CCONJ cblr-1731 206 81 liability liability NOUN cblr-1731 206 82 would would AUX cblr-1731 206 83 require require VERB cblr-1731 206 84 withdrawing withdraw VERB cblr-1731 206 85 distributor distributor NOUN cblr-1731 206 86 autonomy autonomy NOUN cblr-1731 206 87 . . PUNCT cblr-1731 207 1 the the DET cblr-1731 207 2 company company NOUN cblr-1731 207 3 would would AUX cblr-1731 207 4 have have VERB cblr-1731 207 5 to to PART cblr-1731 207 6 change change VERB cblr-1731 207 7 its its PRON cblr-1731 207 8 entire entire ADJ cblr-1731 207 9 business business NOUN cblr-1731 207 10 model model NOUN cblr-1731 207 11 to to PART cblr-1731 207 12 subject subject VERB cblr-1731 207 13 all all PRON cblr-1731 207 14 to to ADP cblr-1731 207 15 comprehensive comprehensive ADJ cblr-1731 207 16 training training NOUN cblr-1731 207 17 , , PUNCT cblr-1731 207 18 supervision supervision NOUN cblr-1731 207 19 , , PUNCT cblr-1731 207 20 and and CCONJ cblr-1731 207 21 remediation remediation NOUN cblr-1731 207 22 . . PUNCT cblr-1731 208 1 such such DET cblr-1731 208 2 an an DET cblr-1731 208 3 approach approach NOUN cblr-1731 208 4 imposes impose VERB cblr-1731 208 5 direct direct ADJ cblr-1731 208 6 40 40 NUM cblr-1731 208 7 i i PROPN cblr-1731 208 8 d. d. PROPN cblr-1731 208 9 41 41 NUM cblr-1731 208 10 see see VERB cblr-1731 208 11 lee lee PROPN cblr-1731 208 12 howard howard PROPN cblr-1731 208 13 , , PUNCT cblr-1731 208 14 ex ex PROPN cblr-1731 208 15 - - ADJ cblr-1731 208 16 kirby kirby ADJ cblr-1731 208 17 employees employee NOUN cblr-1731 208 18 can can AUX cblr-1731 208 19 join join VERB cblr-1731 208 20 suit suit NOUN cblr-1731 208 21 , , PUNCT cblr-1731 208 22 day day NOUN cblr-1731 208 23 ( ( PUNCT cblr-1731 208 24 new new PROPN cblr-1731 208 25 london london PROPN cblr-1731 208 26 , , PUNCT cblr-1731 208 27 ct ct PROPN cblr-1731 208 28 ) ) PUNCT cblr-1731 208 29 ( ( PUNCT cblr-1731 208 30 mar mar PROPN cblr-1731 208 31 . . PROPN cblr-1731 208 32 28 28 NUM cblr-1731 208 33 , , PUNCT cblr-1731 208 34 2012 2012 NUM cblr-1731 208 35 ) ) PUNCT cblr-1731 208 36 , , PUNCT cblr-1731 208 37 http://www.theday.com/article/20120328/ http://www.theday.com/article/20120328/ PROPN cblr-1731 208 38 biz02/303289972 biz02/303289972 PROPN cblr-1731 209 1 [ [ X cblr-1731 209 2 http://perma.cc/2d2g-4b7 http://perma.cc/2d2g-4b7 PROPN cblr-1731 209 3 t t X cblr-1731 209 4 ] ] PUNCT cblr-1731 209 5 . . PUNCT cblr-1731 210 1 42 42 NUM cblr-1731 210 2 see see VERB cblr-1731 210 3 joseph joseph PROPN cblr-1731 210 4 p. p. PROPN cblr-1731 210 5 cahill cahill PROPN cblr-1731 210 6 , , PUNCT cblr-1731 210 7 how how SCONJ cblr-1731 210 8 kirby kirby PROPN cblr-1731 210 9 persuades persuade VERB cblr-1731 210 10 consumers consumer NOUN cblr-1731 210 11 to to PART cblr-1731 210 12 shell shell VERB cblr-1731 210 13 out out ADP cblr-1731 210 14 $ $ SYM cblr-1731 210 15 1,500 1,500 NUM cblr-1731 210 16 for for ADP cblr-1731 210 17 vacuum vacuum NOUN cblr-1731 210 18 , , PUNCT cblr-1731 210 19 wall wall PROPN cblr-1731 210 20 st st PROPN cblr-1731 210 21 . . PROPN cblr-1731 210 22 j. j. PROPN cblr-1731 210 23 ( ( PUNCT cblr-1731 210 24 oct oct PROPN cblr-1731 210 25 . . PROPN cblr-1731 210 26 4 4 NUM cblr-1731 210 27 , , PUNCT cblr-1731 210 28 1999 1999 NUM cblr-1731 210 29 ) ) PUNCT cblr-1731 210 30 , , PUNCT cblr-1731 210 31 http://www.wsj.com/ http://www.wsj.com/ NOUN cblr-1731 210 32 articles article NOUN cblr-1731 210 33 / / SYM cblr-1731 210 34 sb938991433813279910 sb938991433813279910 NOUN cblr-1731 211 1 [ [ X cblr-1731 211 2 http://perma.cc/v7rr-3m46 http://perma.cc/v7rr-3m46 X cblr-1731 211 3 ] ] PUNCT cblr-1731 211 4 . . PUNCT cblr-1731 212 1 43 43 NUM cblr-1731 212 2 see see VERB cblr-1731 212 3 i i PRON cblr-1731 212 4 d. d. PROPN cblr-1731 212 5 ; ; PUNCT cblr-1731 212 6 greg greg PROPN cblr-1731 212 7 dawson dawson PROPN cblr-1731 212 8 , , PUNCT cblr-1731 212 9 kirby kirby AUX cblr-1731 212 10 always always ADV cblr-1731 212 11 cleaning clean VERB cblr-1731 212 12 up up ADP cblr-1731 212 13 after after ADP cblr-1731 212 14 others other NOUN cblr-1731 212 15 , , PUNCT cblr-1731 212 16 orlando orlando PROPN cblr-1731 212 17 sentinel sentinel PROPN cblr-1731 212 18 ( ( PUNCT cblr-1731 212 19 aug aug PROPN cblr-1731 212 20 . . PROPN cblr-1731 212 21 27 27 NUM cblr-1731 212 22 , , PUNCT cblr-1731 212 23 2004 2004 NUM cblr-1731 212 24 ) ) PUNCT cblr-1731 212 25 , , PUNCT cblr-1731 212 26 http://articles.orlandosentinel.com/ http://articles.orlandosentinel.com/ PROPN cblr-1731 212 27 2004 2004 NUM cblr-1731 212 28 - - SYM cblr-1731 212 29 08 08 NUM cblr-1731 212 30 - - PUNCT cblr-1731 212 31 27 27 NUM cblr-1731 212 32 / / SYM cblr-1731 212 33 news/0408261168_1_kirby news/0408261168_1_kirby NOUN cblr-1731 212 34 - - PUNCT cblr-1731 212 35 distributors distributor NOUN cblr-1731 212 36 - - PUNCT cblr-1731 212 37 steve steve PROPN cblr-1731 212 38 - - PUNCT cblr-1731 212 39 griffith griffith PROPN cblr-1731 213 1 [ [ X cblr-1731 213 2 http://perma.cc/p5g3-3yvm http://perma.cc/p5g3-3yvm X cblr-1731 213 3 ] ] X cblr-1731 213 4 . . PUNCT cblr-1731 214 1 44 44 NUM cblr-1731 214 2 see see VERB cblr-1731 214 3 jordan jordan PROPN cblr-1731 214 4 v. v. PROPN cblr-1731 214 5 scott scott PROPN cblr-1731 214 6 fetzer fetzer PROPN cblr-1731 214 7 co. co. PROPN cblr-1731 214 8 , , PUNCT cblr-1731 214 9 no no INTJ cblr-1731 214 10 . . PUNCT cblr-1731 215 1 4:07 4:07 NUM cblr-1731 215 2 - - PUNCT cblr-1731 215 3 cv-80 cv-80 PUNCT cblr-1731 215 4 ( ( PUNCT cblr-1731 215 5 cdl cdl PROPN cblr-1731 215 6 ) ) PUNCT cblr-1731 215 7 , , PUNCT cblr-1731 215 8 2009 2009 NUM cblr-1731 215 9 wl wl NOUN cblr-1731 215 10 1885063 1885063 NUM cblr-1731 215 11 , , PUNCT cblr-1731 215 12 at at ADP cblr-1731 215 13 * * NOUN cblr-1731 215 14 1 1 NUM cblr-1731 215 15 ( ( PUNCT cblr-1731 215 16 m.d m.d PROPN cblr-1731 215 17 . . PROPN cblr-1731 215 18 ga ga PROPN cblr-1731 215 19 . . PROPN cblr-1731 215 20 june june PROPN cblr-1731 215 21 30 30 NUM cblr-1731 215 22 , , PUNCT cblr-1731 215 23 2009 2009 NUM cblr-1731 215 24 ) ) PUNCT cblr-1731 216 1 ; ; PUNCT cblr-1731 216 2 howard howard PROPN cblr-1731 216 3 , , PUNCT cblr-1731 216 4 supra supra PROPN cblr-1731 216 5 note note NOUN cblr-1731 216 6 41 41 NUM cblr-1731 216 7 . . PUNCT cblr-1731 217 1 45 45 NUM cblr-1731 217 2 see see VERB cblr-1731 217 3 jordan jordan PROPN cblr-1731 217 4 , , PUNCT cblr-1731 217 5 2009 2009 NUM cblr-1731 217 6 wl wl NOUN cblr-1731 217 7 1885063 1885063 NUM cblr-1731 217 8 , , PUNCT cblr-1731 217 9 at at ADP cblr-1731 217 10 * * PROPN cblr-1731 217 11 1 1 NUM cblr-1731 217 12 . . X cblr-1731 217 13 46 46 NUM cblr-1731 217 14 see see VERB cblr-1731 217 15 dawson dawson PROPN cblr-1731 217 16 , , PUNCT cblr-1731 217 17 supra supra PROPN cblr-1731 217 18 note note NOUN cblr-1731 217 19 43 43 NUM cblr-1731 217 20 . . PUNCT cblr-1731 218 1 cunningham cunningham PROPN cblr-1731 218 2 – – PUNCT cblr-1731 218 3 final final ADJ cblr-1731 218 4 20 20 NUM cblr-1731 218 5 columbia columbia PROPN cblr-1731 218 6 business business NOUN cblr-1731 218 7 law law PROPN cblr-1731 218 8 review review NOUN cblr-1731 218 9 [ [ X cblr-1731 218 10 vol vol NOUN cblr-1731 218 11 . . NOUN cblr-1731 218 12 2016 2016 NUM cblr-1731 218 13 administrative administrative ADJ cblr-1731 218 14 costs cost NOUN cblr-1731 218 15 as as ADV cblr-1731 218 16 well well ADV cblr-1731 218 17 as as ADP cblr-1731 218 18 unobservable unobservable ADJ cblr-1731 218 19 costs cost NOUN cblr-1731 218 20 to to PART cblr-1731 218 21 entrepreneurship entrepreneurship NOUN cblr-1731 218 22 and and CCONJ cblr-1731 218 23 the the DET cblr-1731 218 24 spirit spirit NOUN cblr-1731 218 25 of of ADP cblr-1731 218 26 ownership ownership NOUN cblr-1731 218 27 that that PRON cblr-1731 218 28 autonomy autonomy NOUN cblr-1731 218 29 showers shower VERB cblr-1731 218 30 on on ADP cblr-1731 218 31 self self NOUN cblr-1731 218 32 - - PUNCT cblr-1731 218 33 starters starter NOUN cblr-1731 218 34 . . PUNCT cblr-1731 219 1 on on ADP cblr-1731 219 2 balance balance NOUN cblr-1731 219 3 , , PUNCT cblr-1731 219 4 the the DET cblr-1731 219 5 distributorship distributorship NOUN cblr-1731 219 6 system system NOUN cblr-1731 219 7 ’s ’s PART cblr-1731 219 8 autonomy autonomy NOUN cblr-1731 219 9 value value NOUN cblr-1731 219 10 has have AUX cblr-1731 219 11 appeared appear VERB cblr-1731 219 12 to to PART cblr-1731 219 13 outweigh outweigh VERB cblr-1731 219 14 such such ADJ cblr-1731 219 15 costs cost NOUN cblr-1731 219 16 . . PUNCT cblr-1731 220 1 berkshire berkshire PROPN cblr-1731 220 2 ’s ’s PART cblr-1731 220 3 decentralized decentralize VERB cblr-1731 220 4 structure structure NOUN cblr-1731 220 5 becomes become VERB cblr-1731 220 6 costlier costly ADJ cblr-1731 220 7 when when SCONJ cblr-1731 220 8 combined combine VERB cblr-1731 220 9 with with ADP cblr-1731 220 10 its its PRON cblr-1731 220 11 minimalist minimalist ADJ cblr-1731 220 12 approach approach NOUN cblr-1731 220 13 to to ADP cblr-1731 220 14 internal internal ADJ cblr-1731 220 15 controls control NOUN cblr-1731 220 16 . . PUNCT cblr-1731 221 1 a a DET cblr-1731 221 2 dramatic dramatic ADJ cblr-1731 221 3 example example NOUN cblr-1731 221 4 was be AUX cblr-1731 221 5 exposed expose VERB cblr-1731 221 6 on on ADP cblr-1731 221 7 the the DET cblr-1731 221 8 floor floor NOUN cblr-1731 221 9 of of ADP cblr-1731 221 10 the the DET cblr-1731 221 11 2009 2009 NUM cblr-1731 221 12 berkshire berkshire NOUN cblr-1731 221 13 annual annual ADJ cblr-1731 221 14 meeting meeting NOUN cblr-1731 221 15 by by ADP cblr-1731 221 16 a a DET cblr-1731 221 17 former former ADJ cblr-1731 221 18 employee employee NOUN cblr-1731 221 19 of of ADP cblr-1731 221 20 a a DET cblr-1731 221 21 textile textile NOUN cblr-1731 221 22 manufacturing manufacturing NOUN cblr-1731 221 23 operation operation NOUN cblr-1731 221 24 in in ADP cblr-1731 221 25 honduras honduras PROPN cblr-1731 221 26 . . PUNCT cblr-1731 222 1 in in ADP cblr-1731 222 2 the the DET cblr-1731 222 3 early early ADJ cblr-1731 222 4 2000s 2000s NUM cblr-1731 222 5 , , PUNCT cblr-1731 222 6 before before SCONJ cblr-1731 222 7 berkshire berkshire NOUN cblr-1731 222 8 ’s ’s PART cblr-1731 222 9 fruit fruit NOUN cblr-1731 222 10 of of ADP cblr-1731 222 11 the the DET cblr-1731 222 12 loom loom NOUN cblr-1731 222 13 acquired acquire VERB cblr-1731 222 14 it it PRON cblr-1731 222 15 , , PUNCT cblr-1731 222 16 russell russell PROPN cblr-1731 222 17 corporation corporation PROPN cblr-1731 222 18 agreed agree VERB cblr-1731 222 19 to to PART cblr-1731 222 20 produce produce VERB cblr-1731 222 21 sportswear sportswear PROPN cblr-1731 222 22 adorned adorn VERB cblr-1731 222 23 with with ADP cblr-1731 222 24 popular popular ADJ cblr-1731 222 25 logos logo NOUN cblr-1731 222 26 , , PUNCT cblr-1731 222 27 including include VERB cblr-1731 222 28 for for ADP cblr-1731 222 29 college college NOUN cblr-1731 222 30 and and CCONJ cblr-1731 222 31 professional professional ADJ cblr-1731 222 32 basketball basketball NOUN cblr-1731 222 33 teams.47 teams.47 NOUN cblr-1731 222 34 but but CCONJ cblr-1731 222 35 the the DET cblr-1731 222 36 goods good NOUN cblr-1731 222 37 were be AUX cblr-1731 222 38 made make VERB cblr-1731 222 39 in in ADP cblr-1731 222 40 factories factory NOUN cblr-1731 222 41 located locate VERB cblr-1731 222 42 in in ADP cblr-1731 222 43 china china PROPN cblr-1731 222 44 and and CCONJ cblr-1731 222 45 honduras honduras PROPN cblr-1731 222 46 that that PRON cblr-1731 222 47 engaged engage VERB cblr-1731 222 48 in in ADP cblr-1731 222 49 objectionable objectionable ADJ cblr-1731 222 50 conduct conduct NOUN cblr-1731 222 51 . . PUNCT cblr-1731 223 1 in in ADP cblr-1731 223 2 china china PROPN cblr-1731 223 3 , , PUNCT cblr-1731 223 4 products product NOUN cblr-1731 223 5 were be AUX cblr-1731 223 6 manufactured manufacture VERB cblr-1731 223 7 in in ADP cblr-1731 223 8 sweatshops sweatshop NOUN cblr-1731 223 9 that that PRON cblr-1731 223 10 violated violate VERB cblr-1731 223 11 international international ADJ cblr-1731 223 12 human human ADJ cblr-1731 223 13 rights right NOUN cblr-1731 223 14 ; ; PUNCT cblr-1731 223 15 in in ADP cblr-1731 223 16 honduras honduras PROPN cblr-1731 223 17 , , PUNCT cblr-1731 223 18 company company NOUN cblr-1731 223 19 officials official NOUN cblr-1731 223 20 boarded board VERB cblr-1731 223 21 up up ADP cblr-1731 223 22 the the DET cblr-1731 223 23 plant plant NOUN cblr-1731 223 24 and and CCONJ cblr-1731 223 25 ousted oust VERB cblr-1731 223 26 workers worker NOUN cblr-1731 223 27 in in ADP cblr-1731 223 28 retaliation retaliation NOUN cblr-1731 223 29 for for ADP cblr-1731 223 30 unionization unionization NOUN cblr-1731 223 31 efforts.48 efforts.48 NOUN cblr-1731 223 32 such such ADJ cblr-1731 223 33 misbehavior misbehavior NOUN cblr-1731 223 34 drew draw VERB cblr-1731 223 35 the the DET cblr-1731 223 36 attention attention NOUN cblr-1731 223 37 of of ADP cblr-1731 223 38 activists activist NOUN cblr-1731 223 39 across across ADP cblr-1731 223 40 the the DET cblr-1731 223 41 united united PROPN cblr-1731 223 42 states states PROPN cblr-1731 223 43 , , PUNCT cblr-1731 223 44 including include VERB cblr-1731 223 45 a a DET cblr-1731 223 46 group group NOUN cblr-1731 223 47 of of ADP cblr-1731 223 48 college college NOUN cblr-1731 223 49 students student NOUN cblr-1731 223 50 who who PRON cblr-1731 223 51 demanded demand VERB cblr-1731 223 52 that that SCONJ cblr-1731 223 53 universities university NOUN cblr-1731 223 54 terminate terminate VERB cblr-1731 223 55 the the DET cblr-1731 223 56 agreements.49 agreements.49 NOUN cblr-1731 223 57 it it PRON cblr-1731 223 58 was be AUX cblr-1731 223 59 not not PART cblr-1731 223 60 until until ADP cblr-1731 223 61 after after ADP cblr-1731 223 62 the the DET cblr-1731 223 63 2009 2009 NUM cblr-1731 223 64 meeting meeting NOUN cblr-1731 223 65 , , PUNCT cblr-1731 223 66 however however ADV cblr-1731 223 67 , , PUNCT cblr-1731 223 68 that that SCONJ cblr-1731 223 69 buffett buffett PROPN cblr-1731 223 70 and and CCONJ cblr-1731 223 71 fruit fruit PROPN cblr-1731 223 72 ’s ’s PART cblr-1731 223 73 ceo ceo NOUN cblr-1731 223 74 found find VERB cblr-1731 223 75 out out ADP cblr-1731 223 76 about about ADP cblr-1731 223 77 the the DET cblr-1731 223 78 problem problem NOUN cblr-1731 223 79 and and CCONJ cblr-1731 223 80 fruit fruit NOUN cblr-1731 223 81 corrected correct VERB cblr-1731 223 82 the the DET cblr-1731 223 83 problems.50 problems.50 PROPN cblr-1731 223 84 information information NOUN cblr-1731 223 85 must must AUX cblr-1731 223 86 reach reach VERB cblr-1731 223 87 berkshire berkshire NOUN cblr-1731 223 88 headquarters headquarter NOUN cblr-1731 223 89 quickly quickly ADV cblr-1731 223 90 concerning concern VERB cblr-1731 223 91 potential potential ADJ cblr-1731 223 92 subsidiary subsidiary ADJ cblr-1731 223 93 violations violation NOUN cblr-1731 223 94 of of ADP cblr-1731 223 95 company company NOUN cblr-1731 223 96 policy policy NOUN cblr-1731 223 97 or or CCONJ cblr-1731 223 98 law law NOUN cblr-1731 223 99 . . PUNCT cblr-1731 224 1 but but CCONJ cblr-1731 224 2 the the DET cblr-1731 224 3 berkshire berkshire NOUN cblr-1731 224 4 model model NOUN cblr-1731 224 5 is be AUX cblr-1731 224 6 informal informal ADJ cblr-1731 224 7 , , PUNCT cblr-1731 224 8 based base VERB cblr-1731 224 9 heavily heavily ADV cblr-1731 224 10 on on ADP cblr-1731 224 11 one one NUM cblr-1731 224 12 of of ADP cblr-1731 224 13 the the DET cblr-1731 224 14 few few ADJ cblr-1731 224 15 mandates mandate NOUN cblr-1731 224 16 on on ADP cblr-1731 224 17 subsidiary subsidiary NOUN cblr-1731 224 18 managers manager NOUN cblr-1731 224 19 : : PUNCT cblr-1731 224 20 to to PART cblr-1731 224 21 report report VERB cblr-1731 224 22 bad bad ADJ cblr-1731 224 23 news news NOUN cblr-1731 224 24 early early ADV cblr-1731 224 25 . . PUNCT cblr-1731 225 1 whatever whatever PRON cblr-1731 225 2 gains gain NOUN cblr-1731 225 3 arise arise VERB cblr-1731 225 4 from from ADP cblr-1731 225 5 such such DET cblr-1731 225 6 an an DET cblr-1731 225 7 approach approach NOUN cblr-1731 225 8 — — PUNCT cblr-1731 225 9 a a DET cblr-1731 225 10 trust trust NOUN cblr-1731 225 11 - - PUNCT cblr-1731 225 12 based base VERB cblr-1731 225 13 culture culture NOUN cblr-1731 225 14 based base VERB cblr-1731 225 15 on on ADP cblr-1731 225 16 integrity integrity NOUN cblr-1731 225 17 — — PUNCT cblr-1731 225 18 some some DET cblr-1731 225 19 violations violation NOUN cblr-1731 225 20 occur occur VERB cblr-1731 225 21 and and CCONJ cblr-1731 225 22 escape escape VERB cblr-1731 225 23 scrutiny scrutiny NOUN cblr-1731 225 24 , , PUNCT cblr-1731 225 25 which which PRON cblr-1731 225 26 are be AUX cblr-1731 225 27 clearly clearly ADV cblr-1731 225 28 a a DET cblr-1731 225 29 cost cost NOUN cblr-1731 225 30 of of ADP cblr-1731 225 31 the the DET cblr-1731 225 32 berkshire berkshire NOUN cblr-1731 225 33 model.51 model.51 PROPN cblr-1731 225 34 47 47 NUM cblr-1731 225 35 cunningham cunningham PROPN cblr-1731 225 36 , , PUNCT cblr-1731 225 37 berkshire berkshire NOUN cblr-1731 225 38 beyond beyond ADP cblr-1731 225 39 buffett buffett PROPN cblr-1731 225 40 , , PUNCT cblr-1731 225 41 supra supra PROPN cblr-1731 225 42 note note PROPN cblr-1731 225 43 6 6 NUM cblr-1731 225 44 , , PUNCT cblr-1731 225 45 at at ADP cblr-1731 225 46 214 214 NUM cblr-1731 225 47 . . PUNCT cblr-1731 226 1 48 48 NUM cblr-1731 227 1 i i PRON cblr-1731 227 2 d. d. PROPN cblr-1731 227 3 49 49 NUM cblr-1731 228 1 i i PRON cblr-1731 228 2 d. d. PROPN cblr-1731 228 3 50 50 NUM cblr-1731 229 1 i i PRON cblr-1731 229 2 d. d. PROPN cblr-1731 229 3 at at ADP cblr-1731 229 4 214–15 214–15 PROPN cblr-1731 229 5 . . PROPN cblr-1731 229 6 51 51 NUM cblr-1731 229 7 in in ADP cblr-1731 229 8 october october PROPN cblr-1731 229 9 2014 2014 NUM cblr-1731 229 10 , , PUNCT cblr-1731 229 11 an an DET cblr-1731 229 12 employee employee NOUN cblr-1731 229 13 benefits benefit VERB cblr-1731 229 14 committee committee PROPN cblr-1731 229 15 of of ADP cblr-1731 229 16 berkshire berkshire PROPN cblr-1731 229 17 ’s ’s PART cblr-1731 229 18 acme acme PROPN cblr-1731 229 19 brick brick NOUN cblr-1731 229 20 subsidiary subsidiary NOUN cblr-1731 229 21 , , PUNCT cblr-1731 229 22 which which PRON cblr-1731 229 23 includes include VERB cblr-1731 229 24 acme acme PROPN cblr-1731 229 25 cfo cfo PROPN cblr-1731 229 26 judy judy PROPN cblr-1731 229 27 hunter hunter PROPN cblr-1731 229 28 , , PUNCT cblr-1731 229 29 alleged allege VERB cblr-1731 229 30 that that SCONJ cblr-1731 229 31 a a DET cblr-1731 229 32 2010 2010 NUM cblr-1731 229 33 cutback cutback NOUN cblr-1731 229 34 in in ADP cblr-1731 229 35 the the DET cblr-1731 229 36 company company NOUN cblr-1731 229 37 match match NOUN cblr-1731 229 38 under under ADP cblr-1731 229 39 acme acme PROPN cblr-1731 229 40 ’s ’s PART cblr-1731 229 41 401(k 401(k PROPN cblr-1731 229 42 ) ) PUNCT cblr-1731 229 43 plan plan NOUN cblr-1731 229 44 cunningham cunningham PROPN cblr-1731 229 45 – – PUNCT cblr-1731 229 46 final final ADJ cblr-1731 229 47 no no NOUN cblr-1731 229 48 . . NOUN cblr-1731 229 49 1:1 1:1 NUM cblr-1731 229 50 ] ] PUNCT cblr-1731 229 51 berkshire berkshire PROPN cblr-1731 229 52 ’s ’s PART cblr-1731 229 53 blemishes blemish NOUN cblr-1731 229 54 21 21 NUM cblr-1731 229 55 more more ADJ cblr-1731 229 56 general general ADJ cblr-1731 229 57 criticisms criticism NOUN cblr-1731 229 58 against against ADP cblr-1731 229 59 berkshire berkshire NOUN cblr-1731 229 60 concerning concern VERB cblr-1731 229 61 employee employee NOUN cblr-1731 229 62 relations relation NOUN cblr-1731 229 63 arose arise VERB cblr-1731 229 64 from from ADP cblr-1731 229 65 the the DET cblr-1731 229 66 partnership partnership NOUN cblr-1731 229 67 deals deal NOUN cblr-1731 229 68 it it PRON cblr-1731 229 69 has have AUX cblr-1731 229 70 made make VERB cblr-1731 229 71 with with ADP cblr-1731 229 72 3 3 NUM cblr-1731 229 73 g g NOUN cblr-1731 229 74 , , PUNCT cblr-1731 229 75 the the DET cblr-1731 229 76 brazilian brazilian ADJ cblr-1731 229 77 private private ADJ cblr-1731 229 78 equity equity NOUN cblr-1731 229 79 firm firm NOUN cblr-1731 229 80 famous famous ADJ cblr-1731 229 81 for for ADP cblr-1731 229 82 downsizing downsize VERB cblr-1731 229 83 acquisition acquisition NOUN cblr-1731 229 84 targets target NOUN cblr-1731 229 85 . . PUNCT cblr-1731 230 1 in in ADP cblr-1731 230 2 2013 2013 NUM cblr-1731 230 3 , , PUNCT cblr-1731 230 4 berkshire berkshire NOUN cblr-1731 230 5 and and CCONJ cblr-1731 230 6 3 3 NUM cblr-1731 230 7 g g NOUN cblr-1731 230 8 jointly jointly ADV cblr-1731 230 9 acquired acquire VERB cblr-1731 230 10 h.j h.j PROPN cblr-1731 230 11 . . PROPN cblr-1731 230 12 heinz heinz PROPN cblr-1731 230 13 company company NOUN cblr-1731 230 14 — — PUNCT cblr-1731 230 15 which which PRON cblr-1731 230 16 , , PUNCT cblr-1731 230 17 two two NUM cblr-1731 230 18 years year NOUN cblr-1731 230 19 later later ADV cblr-1731 230 20 , , PUNCT cblr-1731 230 21 merged merge VERB cblr-1731 230 22 with with ADP cblr-1731 230 23 kraft.52 kraft.52 NOUN cblr-1731 230 24 in in ADV cblr-1731 230 25 each each DET cblr-1731 230 26 case case NOUN cblr-1731 230 27 , , PUNCT cblr-1731 230 28 3 3 NUM cblr-1731 230 29 g g NOUN cblr-1731 230 30 took take VERB cblr-1731 230 31 charge charge NOUN cblr-1731 230 32 of of ADP cblr-1731 230 33 operations operation NOUN cblr-1731 230 34 and and CCONJ cblr-1731 230 35 proceeded proceed VERB cblr-1731 230 36 to to PART cblr-1731 230 37 make make VERB cblr-1731 230 38 major major ADJ cblr-1731 230 39 changes change NOUN cblr-1731 230 40 , , PUNCT cblr-1731 230 41 replacing replace VERB cblr-1731 230 42 top top ADJ cblr-1731 230 43 managers manager NOUN cblr-1731 230 44 and and CCONJ cblr-1731 230 45 cutting cut VERB cblr-1731 230 46 jobs.53 jobs.53 NOUN cblr-1731 230 47 heinz heinz PROPN cblr-1731 230 48 had have AUX cblr-1731 230 49 conditioned condition VERB cblr-1731 230 50 its its PRON cblr-1731 230 51 sale sale NOUN cblr-1731 230 52 to to ADP cblr-1731 230 53 berkshire berkshire VERB cblr-1731 230 54 and and CCONJ cblr-1731 230 55 3 3 NUM cblr-1731 230 56 g g NOUN cblr-1731 230 57 on on ADP cblr-1731 230 58 their their PRON cblr-1731 230 59 promise promise NOUN cblr-1731 230 60 to to PART cblr-1731 230 61 maintain maintain VERB cblr-1731 230 62 the the DET cblr-1731 230 63 company company NOUN cblr-1731 230 64 ’s ’s PART cblr-1731 230 65 presence presence NOUN cblr-1731 230 66 and and CCONJ cblr-1731 230 67 heritage heritage NOUN cblr-1731 230 68 in in ADP cblr-1731 230 69 pittsburgh pittsburgh PROPN cblr-1731 230 70 , , PUNCT cblr-1731 230 71 heinz heinz PROPN cblr-1731 230 72 ’s ’s PART cblr-1731 230 73 home home NOUN cblr-1731 230 74 since since SCONJ cblr-1731 230 75 its its PRON cblr-1731 230 76 1869 1869 NUM cblr-1731 230 77 founding founding NOUN cblr-1731 230 78 , , PUNCT cblr-1731 230 79 but but CCONJ cblr-1731 230 80 no no DET cblr-1731 230 81 commitment commitment NOUN cblr-1731 230 82 was be AUX cblr-1731 230 83 made make VERB cblr-1731 230 84 about about ADP cblr-1731 230 85 employees employee NOUN cblr-1731 230 86 or or CCONJ cblr-1731 230 87 other other ADJ cblr-1731 230 88 constituents constituent NOUN cblr-1731 230 89 ( ( PUNCT cblr-1731 230 90 a a DET cblr-1731 230 91 contrast contrast NOUN cblr-1731 230 92 to to ADP cblr-1731 230 93 buffett buffett PROPN cblr-1731 230 94 ’s ’s PART cblr-1731 230 95 breached breached PROPN cblr-1731 230 96 berkshire berkshire PROPN cblr-1731 230 97 ’s ’s PART cblr-1731 230 98 promises promise NOUN cblr-1731 230 99 , , PUNCT cblr-1731 230 100 made make VERB cblr-1731 230 101 in in ADP cblr-1731 230 102 its its PRON cblr-1731 230 103 2000 2000 NUM cblr-1731 230 104 acquisition acquisition NOUN cblr-1731 230 105 agreement agreement NOUN cblr-1731 230 106 , , PUNCT cblr-1731 230 107 to to PART cblr-1731 230 108 make make VERB cblr-1731 230 109 no no DET cblr-1731 230 110 changes change NOUN cblr-1731 230 111 in in ADP cblr-1731 230 112 the the DET cblr-1731 230 113 plan plan NOUN cblr-1731 230 114 . . PUNCT cblr-1731 231 1 complaint complaint NOUN cblr-1731 231 2 at at ADP cblr-1731 231 3 29–30 29–30 NUM cblr-1731 231 4 , , PUNCT cblr-1731 231 5 hunter hunter NOUN cblr-1731 231 6 v. v. PROPN cblr-1731 231 7 berkshire berkshire PROPN cblr-1731 231 8 hathaway hathaway PROPN cblr-1731 231 9 inc inc PROPN cblr-1731 231 10 . . PROPN cblr-1731 231 11 , , PUNCT cblr-1731 231 12 no no INTJ cblr-1731 231 13 . . PUNCT cblr-1731 232 1 4:14 4:14 NUM cblr-1731 232 2 - - PUNCT cblr-1731 232 3 cv-00663 cv-00663 NOUN cblr-1731 232 4 , , PUNCT cblr-1731 232 5 2015 2015 NUM cblr-1731 232 6 wl wl NOUN cblr-1731 232 7 5920283 5920283 NUM cblr-1731 232 8 ( ( PUNCT cblr-1731 232 9 n.d n.d PROPN cblr-1731 232 10 . . PROPN cblr-1731 233 1 tex tex PROPN cblr-1731 233 2 . . PROPN cblr-1731 233 3 , , PUNCT cblr-1731 233 4 aug aug PROPN cblr-1731 233 5 . . PROPN cblr-1731 233 6 5 5 NUM cblr-1731 233 7 , , PUNCT cblr-1731 233 8 2015 2015 NUM cblr-1731 233 9 ) ) PUNCT cblr-1731 233 10 . . PUNCT cblr-1731 234 1 the the DET cblr-1731 234 2 committee committee NOUN cblr-1731 234 3 also also ADV cblr-1731 234 4 alleged allege VERB cblr-1731 234 5 violations violation NOUN cblr-1731 234 6 of of ADP cblr-1731 234 7 pension pension NOUN cblr-1731 234 8 law law NOUN cblr-1731 234 9 and and CCONJ cblr-1731 234 10 said say VERB cblr-1731 234 11 berkshire berkshire NOUN cblr-1731 234 12 used use VERB cblr-1731 234 13 “ " PUNCT cblr-1731 234 14 strong strong ADJ cblr-1731 234 15 - - PUNCT cblr-1731 234 16 arm arm NOUN cblr-1731 234 17 tactics tactic NOUN cblr-1731 234 18 against against ADP cblr-1731 234 19 acme acme PROPN cblr-1731 234 20 ’s ’s PART cblr-1731 234 21 management management NOUN cblr-1731 234 22 ” " PUNCT cblr-1731 234 23 to to PART cblr-1731 234 24 freeze freeze VERB cblr-1731 234 25 accrual accrual ADJ cblr-1731 234 26 of of ADP cblr-1731 234 27 pension pension NOUN cblr-1731 234 28 benefits benefit NOUN cblr-1731 234 29 . . PUNCT cblr-1731 235 1 i i PRON cblr-1731 235 2 d. d. PROPN cblr-1731 235 3 at at ADP cblr-1731 235 4 1 1 NUM cblr-1731 235 5 . . PUNCT cblr-1731 236 1 the the DET cblr-1731 236 2 benefits benefit NOUN cblr-1731 236 3 committee committee PROPN cblr-1731 236 4 objected object VERB cblr-1731 236 5 , , PUNCT cblr-1731 236 6 requesting request VERB cblr-1731 236 7 that that SCONJ cblr-1731 236 8 acme acme PROPN cblr-1731 236 9 ’s ’s PROPN cblr-1731 236 10 board board PROPN cblr-1731 236 11 ( ( PUNCT cblr-1731 236 12 which which PRON cblr-1731 236 13 includes include VERB cblr-1731 236 14 marc marc PROPN cblr-1731 236 15 hamburg hamburg PROPN cblr-1731 236 16 , , PUNCT cblr-1731 236 17 berkshire berkshire PROPN cblr-1731 236 18 cfo cfo PROPN cblr-1731 236 19 ) ) PUNCT cblr-1731 236 20 restore restore VERB cblr-1731 236 21 the the DET cblr-1731 236 22 match match NOUN cblr-1731 236 23 retroactively retroactively ADV cblr-1731 236 24 , , PUNCT cblr-1731 236 25 along along ADP cblr-1731 236 26 with with ADP cblr-1731 236 27 related related ADJ cblr-1731 236 28 earnings earning NOUN cblr-1731 236 29 . . PUNCT cblr-1731 237 1 when when SCONJ cblr-1731 237 2 berkshire berkshire NOUN cblr-1731 237 3 responded respond VERB cblr-1731 237 4 by by ADP cblr-1731 237 5 offering offer VERB cblr-1731 237 6 to to PART cblr-1731 237 7 either either CCONJ cblr-1731 237 8 restore restore VERB cblr-1731 237 9 the the DET cblr-1731 237 10 match match NOUN cblr-1731 237 11 but but CCONJ cblr-1731 237 12 freeze freeze VERB cblr-1731 237 13 the the DET cblr-1731 237 14 pension pension NOUN cblr-1731 237 15 or or CCONJ cblr-1731 237 16 maintain maintain VERB cblr-1731 237 17 the the DET cblr-1731 237 18 match match NOUN cblr-1731 237 19 and and CCONJ cblr-1731 237 20 defer defer VERB cblr-1731 237 21 the the DET cblr-1731 237 22 pension pension NOUN cblr-1731 237 23 freeze freeze NOUN cblr-1731 237 24 , , PUNCT cblr-1731 237 25 the the DET cblr-1731 237 26 committee committee NOUN cblr-1731 237 27 called call VERB cblr-1731 237 28 this this PRON cblr-1731 237 29 an an DET cblr-1731 237 30 “ " PUNCT cblr-1731 237 31 ultimatum ultimatum NOUN cblr-1731 237 32 ” " PUNCT cblr-1731 237 33 and and CCONJ cblr-1731 237 34 “ " PUNCT cblr-1731 237 35 strong strong ADJ cblr-1731 237 36 - - PUNCT cblr-1731 237 37 arm arm NOUN cblr-1731 237 38 tactic tactic NOUN cblr-1731 237 39 . . PUNCT cblr-1731 237 40 ” " PUNCT cblr-1731 238 1 i i PRON cblr-1731 238 2 d. d. VERB cblr-1731 238 3 at at ADP cblr-1731 238 4 1 1 NUM cblr-1731 238 5 , , PUNCT cblr-1731 238 6 17 17 NUM cblr-1731 238 7 . . PUNCT cblr-1731 239 1 the the DET cblr-1731 239 2 acme acme PROPN cblr-1731 239 3 benefits benefits PROPN cblr-1731 239 4 dispute dispute NOUN cblr-1731 239 5 may may AUX cblr-1731 239 6 simply simply ADV cblr-1731 239 7 be be AUX cblr-1731 239 8 an an DET cblr-1731 239 9 internal internal ADJ cblr-1731 239 10 parent parent NOUN cblr-1731 239 11 - - PUNCT cblr-1731 239 12 subsidiary subsidiary NOUN cblr-1731 239 13 disagreement disagreement NOUN cblr-1731 239 14 , , PUNCT cblr-1731 239 15 pitting pitting NOUN cblr-1731 239 16 berkshire berkshire PROPN cblr-1731 239 17 cfo cfo PROPN cblr-1731 239 18 hamburg hamburg PROPN cblr-1731 239 19 against against ADP cblr-1731 239 20 acme acme PROPN cblr-1731 239 21 cfo cfo PROPN cblr-1731 239 22 hunter hunter NOUN cblr-1731 239 23 . . PUNCT cblr-1731 240 1 that that PRON cblr-1731 240 2 would would AUX cblr-1731 240 3 be be AUX cblr-1731 240 4 a a DET cblr-1731 240 5 likely likely ADJ cblr-1731 240 6 explanation explanation NOUN cblr-1731 240 7 under under ADP cblr-1731 240 8 berkshire berkshire NOUN cblr-1731 240 9 ’s ’s PART cblr-1731 240 10 principle principle NOUN cblr-1731 240 11 of of ADP cblr-1731 240 12 autonomy autonomy NOUN cblr-1731 240 13 , , PUNCT cblr-1731 240 14 with with ADP cblr-1731 240 15 buffett buffett PROPN cblr-1731 240 16 letting let VERB cblr-1731 240 17 hamburg hamburg PROPN cblr-1731 240 18 and and CCONJ cblr-1731 240 19 hunter hunter NOUN cblr-1731 240 20 duke duke NOUN cblr-1731 240 21 it it PRON cblr-1731 240 22 out out ADP cblr-1731 240 23 . . PUNCT cblr-1731 241 1 on on ADP cblr-1731 241 2 the the DET cblr-1731 241 3 other other ADJ cblr-1731 241 4 hand hand NOUN cblr-1731 241 5 , , PUNCT cblr-1731 241 6 buffett buffett PROPN cblr-1731 241 7 takes take VERB cblr-1731 241 8 a a DET cblr-1731 241 9 special special ADJ cblr-1731 241 10 interest interest NOUN cblr-1731 241 11 in in ADP cblr-1731 241 12 post post ADJ cblr-1731 241 13 - - ADJ cblr-1731 241 14 retirement retirement ADJ cblr-1731 241 15 benefit benefit NOUN cblr-1731 241 16 plan plan NOUN cblr-1731 241 17 changes change NOUN cblr-1731 241 18 — — PUNCT cblr-1731 241 19 the the DET cblr-1731 241 20 subject subject NOUN cblr-1731 241 21 is be AUX cblr-1731 241 22 one one NUM cblr-1731 241 23 of of ADP cblr-1731 241 24 only only ADV cblr-1731 241 25 six six NUM cblr-1731 241 26 points point NOUN cblr-1731 241 27 buffett buffett PROPN cblr-1731 241 28 requests request VERB cblr-1731 241 29 specific specific ADJ cblr-1731 241 30 updates update NOUN cblr-1731 241 31 on on ADP cblr-1731 241 32 from from ADP cblr-1731 241 33 ceo ceo NOUN cblr-1731 241 34 subsidiaries subsidiary NOUN cblr-1731 241 35 , , PUNCT cblr-1731 241 36 an an DET cblr-1731 241 37 exception exception NOUN cblr-1731 241 38 to to ADP cblr-1731 241 39 the the DET cblr-1731 241 40 usual usual ADJ cblr-1731 241 41 principle principle NOUN cblr-1731 241 42 of of ADP cblr-1731 241 43 autonomy autonomy NOUN cblr-1731 241 44 . . 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PROPN cblr-1731 256 3 57 57 NUM cblr-1731 256 4 for for ADP cblr-1731 256 5 additional additional ADJ cblr-1731 256 6 discussion discussion NOUN cblr-1731 256 7 of of ADP cblr-1731 256 8 accusations accusation NOUN cblr-1731 256 9 of of ADP cblr-1731 256 10 hypocrisy hypocrisy NOUN cblr-1731 256 11 as as ADP cblr-1731 256 12 a a DET cblr-1731 256 13 berkshire berkshire NOUN cblr-1731 256 14 blemish blemish NOUN cblr-1731 256 15 , , PUNCT cblr-1731 256 16 see see VERB cblr-1731 256 17 infra infra NOUN cblr-1731 256 18 text text NOUN cblr-1731 256 19 accompanying accompanying ADJ cblr-1731 256 20 notes note NOUN cblr-1731 256 21 100–12 100–12 NUM cblr-1731 256 22 . . PUNCT cblr-1731 257 1 in in ADP cblr-1731 257 2 the the DET cblr-1731 257 3 case case NOUN cblr-1731 257 4 of of ADP cblr-1731 257 5 coinvesting coinveste VERB cblr-1731 257 6 with with ADP cblr-1731 257 7 3 3 NUM cblr-1731 257 8 g g NOUN cblr-1731 257 9 , , PUNCT cblr-1731 257 10 another another DET cblr-1731 257 11 rationale rationale NOUN cblr-1731 257 12 might might AUX cblr-1731 257 13 have have AUX cblr-1731 257 14 explained explain VERB cblr-1731 257 15 the the DET cblr-1731 257 16 difference difference NOUN cblr-1731 257 17 between between ADP cblr-1731 257 18 berkshire berkshire NOUN cblr-1731 257 19 ’s ’s PART cblr-1731 257 20 own own ADJ cblr-1731 257 21 companies company NOUN cblr-1731 257 22 and and CCONJ cblr-1731 257 23 those those PRON cblr-1731 257 24 in in ADP cblr-1731 257 25 which which PRON cblr-1731 257 26 it it PRON cblr-1731 257 27 co co VERB cblr-1731 257 28 - - NOUN cblr-1731 257 29 invests invest NOUN cblr-1731 257 30 , , PUNCT cblr-1731 257 31 whether whether SCONJ cblr-1731 257 32 with with ADP cblr-1731 257 33 3 3 NUM cblr-1731 257 34 g g NOUN cblr-1731 257 35 or or CCONJ cblr-1731 257 36 in in ADP cblr-1731 257 37 the the DET cblr-1731 257 38 open open ADJ cblr-1731 257 39 stock stock NOUN cblr-1731 257 40 market market NOUN cblr-1731 257 41 . . PUNCT cblr-1731 258 1 berkshire berkshire NOUN cblr-1731 258 2 companies company NOUN cblr-1731 258 3 define define VERB cblr-1731 258 4 berkshire berkshire NOUN cblr-1731 258 5 culture culture NOUN cblr-1731 258 6 and and CCONJ cblr-1731 258 7 related related ADJ cblr-1731 258 8 actions action NOUN cblr-1731 258 9 are be AUX cblr-1731 258 10 taken take VERB cblr-1731 258 11 entirely entirely ADV cblr-1731 258 12 in in ADP cblr-1731 258 13 the the DET cblr-1731 258 14 berkshire berkshire NOUN cblr-1731 258 15 name name NOUN cblr-1731 258 16 . . PUNCT cblr-1731 259 1 the the DET cblr-1731 259 2 3 3 NUM cblr-1731 259 3 g g NOUN cblr-1731 259 4 companies company NOUN cblr-1731 259 5 are be AUX cblr-1731 259 6 investments investment NOUN cblr-1731 259 7 , , PUNCT cblr-1731 259 8 though though SCONJ cblr-1731 259 9 large large ADJ cblr-1731 259 10 ones one NOUN cblr-1731 259 11 , , PUNCT cblr-1731 259 12 with with ADP cblr-1731 259 13 3 3 NUM cblr-1731 259 14 g g NOUN cblr-1731 259 15 in in ADP cblr-1731 259 16 charge charge NOUN cblr-1731 259 17 and and CCONJ cblr-1731 259 18 related related ADJ cblr-1731 259 19 actions action NOUN cblr-1731 259 20 taken take VERB cblr-1731 259 21 in in ADP cblr-1731 259 22 its its PRON cblr-1731 259 23 name name NOUN cblr-1731 259 24 . . PUNCT cblr-1731 260 1 if if SCONJ cblr-1731 260 2 3 3 NUM cblr-1731 260 3 g g PROPN cblr-1731 260 4 ’s ’s ADV cblr-1731 260 5 downsizing downsize VERB cblr-1731 260 6 hurt hurt VERB cblr-1731 260 7 those those DET cblr-1731 260 8 companies company NOUN cblr-1731 260 9 , , PUNCT cblr-1731 260 10 berkshire berkshire NOUN cblr-1731 260 11 could could AUX cblr-1731 260 12 withdraw withdraw VERB cblr-1731 260 13 from from ADP cblr-1731 260 14 the the DET cblr-1731 260 15 investment investment NOUN cblr-1731 260 16 ; ; PUNCT cblr-1731 260 17 if if SCONJ cblr-1731 260 18 they they PRON cblr-1731 260 19 help help VERB cblr-1731 260 20 , , PUNCT cblr-1731 260 21 berkshire berkshire NOUN cblr-1731 260 22 can can AUX cblr-1731 260 23 continue continue VERB cblr-1731 260 24 or or CCONJ cblr-1731 260 25 even even ADV cblr-1731 260 26 acquire acquire VERB cblr-1731 260 27 full full ADJ cblr-1731 260 28 ownership ownership NOUN cblr-1731 260 29 from from ADP cblr-1731 260 30 3 3 NUM cblr-1731 260 31 g. g. NOUN cblr-1731 260 32 but but CCONJ cblr-1731 260 33 besides besides SCONJ cblr-1731 260 34 not not PART cblr-1731 260 35 being be AUX cblr-1731 260 36 how how SCONJ cblr-1731 260 37 buffett buffett PROPN cblr-1731 260 38 explained explain VERB cblr-1731 260 39 it it PRON cblr-1731 260 40 , , PUNCT cblr-1731 260 41 there there PRON cblr-1731 260 42 are be VERB cblr-1731 260 43 costs cost NOUN cblr-1731 260 44 to to ADP cblr-1731 260 45 such such DET cblr-1731 260 46 a a DET cblr-1731 260 47 partnership partnership NOUN cblr-1731 260 48 approach approach NOUN cblr-1731 260 49 . . PUNCT cblr-1731 261 1 for for ADP cblr-1731 261 2 one one NUM cblr-1731 261 3 , , PUNCT cblr-1731 261 4 it it PRON cblr-1731 261 5 relies rely VERB cblr-1731 261 6 on on ADP cblr-1731 261 7 a a DET cblr-1731 261 8 distinction distinction NOUN cblr-1731 261 9 between between ADP cblr-1731 261 10 abstaining abstain VERB cblr-1731 261 11 from from ADP cblr-1731 261 12 making make VERB cblr-1731 261 13 layoffs layoff NOUN cblr-1731 261 14 directly directly ADV cblr-1731 261 15 and and CCONJ cblr-1731 261 16 financing finance VERB cblr-1731 261 17 them they PRON cblr-1731 261 18 for for ADP cblr-1731 261 19 indirect indirect ADJ cblr-1731 261 20 profit profit NOUN cblr-1731 261 21 . . PUNCT cblr-1731 262 1 foley foley PROPN cblr-1731 262 2 , , PUNCT cblr-1731 262 3 supra supra PROPN cblr-1731 262 4 note note VERB cblr-1731 262 5 55 55 NUM cblr-1731 262 6 ( ( PUNCT cblr-1731 262 7 “ " PUNCT cblr-1731 262 8 if if SCONJ cblr-1731 262 9 3 3 NUM cblr-1731 262 10 g g NOUN cblr-1731 262 11 destroys destroy NOUN cblr-1731 262 12 rather rather ADV cblr-1731 262 13 than than ADP cblr-1731 262 14 improves improve VERB cblr-1731 262 15 heinz heinz PROPN cblr-1731 262 16 / / SYM cblr-1731 262 17 kraft kraft NOUN cblr-1731 262 18 , , PUNCT cblr-1731 262 19 then then ADV cblr-1731 262 20 berkshire berkshire NOUN cblr-1731 262 21 can can AUX cblr-1731 262 22 sell sell VERB cblr-1731 262 23 , , PUNCT cblr-1731 262 24 without without ADP cblr-1731 262 25 violating violate VERB cblr-1731 262 26 any any DET cblr-1731 262 27 principle principle NOUN cblr-1731 262 28 , , PUNCT cblr-1731 262 29 but but CCONJ cblr-1731 262 30 if if SCONJ cblr-1731 262 31 3 3 NUM cblr-1731 262 32 g g NOUN cblr-1731 262 33 improves improve VERB cblr-1731 262 34 the the DET cblr-1731 262 35 investee investee NOUN cblr-1731 262 36 to to PART cblr-1731 262 37 berkshire berkshire VERB cblr-1731 262 38 standards standard NOUN cblr-1731 262 39 , , PUNCT cblr-1731 262 40 it it PRON cblr-1731 262 41 can can AUX cblr-1731 262 42 acquire acquire VERB cblr-1731 262 43 the the DET cblr-1731 262 44 whole whole NOUN cblr-1731 262 45 . . PUNCT cblr-1731 262 46 . . PUNCT cblr-1731 262 47 . . PUNCT cblr-1731 262 48 . . PUNCT cblr-1731 263 1 3 3 NUM cblr-1731 263 2 g g NOUN cblr-1731 263 3 does do VERB cblr-1731 263 4 the the DET cblr-1731 263 5 work work NOUN cblr-1731 263 6 of of ADP cblr-1731 263 7 both both PRON cblr-1731 263 8 getting get VERB cblr-1731 263 9 the the DET cblr-1731 263 10 deal deal NOUN cblr-1731 263 11 and and CCONJ cblr-1731 263 12 making make VERB cblr-1731 263 13 the the DET cblr-1731 263 14 changes change NOUN cblr-1731 263 15 , , PUNCT cblr-1731 263 16 while while SCONJ cblr-1731 263 17 berkshire berkshire NOUN cblr-1731 263 18 has have VERB cblr-1731 263 19 an an DET cblr-1731 263 20 option option NOUN cblr-1731 263 21 on on ADP cblr-1731 263 22 the the DET cblr-1731 263 23 upside upside NOUN cblr-1731 263 24 , , PUNCT cblr-1731 263 25 both both CCONJ cblr-1731 263 26 economic economic ADJ cblr-1731 263 27 and and CCONJ cblr-1731 263 28 cultural cultural ADJ cblr-1731 263 29 . . PUNCT cblr-1731 263 30 ” " PUNCT cblr-1731 263 31 ) ) PUNCT cblr-1731 263 32 . . PUNCT cblr-1731 264 1 cunningham cunningham PROPN cblr-1731 264 2 – – PUNCT cblr-1731 264 3 final final ADJ cblr-1731 264 4 no no NOUN cblr-1731 264 5 . . NOUN cblr-1731 264 6 1:1 1:1 NUM cblr-1731 264 7 ] ] PUNCT cblr-1731 264 8 berkshire berkshire PROPN cblr-1731 264 9 ’s ’s PART cblr-1731 264 10 blemishes blemish NOUN cblr-1731 264 11 23 23 NUM cblr-1731 264 12 berkshire berkshire NOUN cblr-1731 264 13 also also ADV cblr-1731 264 14 faces face VERB cblr-1731 264 15 criticism criticism NOUN cblr-1731 264 16 for for ADP cblr-1731 264 17 participating participate VERB cblr-1731 264 18 in in ADP cblr-1731 264 19 the the DET cblr-1731 264 20 purchase purchase NOUN cblr-1731 264 21 of of ADP cblr-1731 264 22 kraft kraft NOUN cblr-1731 264 23 , , PUNCT cblr-1731 264 24 famous famous ADJ cblr-1731 264 25 as as ADP cblr-1731 264 26 a a DET cblr-1731 264 27 purveyor purveyor NOUN cblr-1731 264 28 of of ADP cblr-1731 264 29 processed process VERB cblr-1731 264 30 and and CCONJ cblr-1731 264 31 unhealthy unhealthy ADJ cblr-1731 264 32 foods food NOUN cblr-1731 264 33 . . PUNCT cblr-1731 265 1 critics critic NOUN cblr-1731 265 2 likewise likewise ADV cblr-1731 265 3 question question VERB cblr-1731 265 4 berkshire berkshire NOUN cblr-1731 265 5 investments investment NOUN cblr-1731 265 6 in in ADP cblr-1731 265 7 other other ADJ cblr-1731 265 8 unhealthy unhealthy ADJ cblr-1731 265 9 consumer consumer NOUN cblr-1731 265 10 products product NOUN cblr-1731 265 11 , , PUNCT cblr-1731 265 12 including include VERB cblr-1731 265 13 candies candy NOUN cblr-1731 265 14 , , PUNCT cblr-1731 265 15 carbonated carbonated ADJ cblr-1731 265 16 soda soda NOUN cblr-1731 265 17 , , PUNCT cblr-1731 265 18 and and CCONJ cblr-1731 265 19 ice ice NOUN cblr-1731 265 20 cream.58 cream.58 NOUN cblr-1731 265 21 on on ADP cblr-1731 265 22 the the DET cblr-1731 265 23 other other ADJ cblr-1731 265 24 hand hand NOUN cblr-1731 265 25 , , PUNCT cblr-1731 265 26 buffett buffett PROPN cblr-1731 265 27 and and CCONJ cblr-1731 265 28 munger munger PROPN cblr-1731 265 29 have have AUX cblr-1731 265 30 passed pass VERB cblr-1731 265 31 on on ADP cblr-1731 265 32 economically economically ADV cblr-1731 265 33 valuable valuable ADJ cblr-1731 265 34 opportunities opportunity NOUN cblr-1731 265 35 when when SCONJ cblr-1731 265 36 bothered bother VERB cblr-1731 265 37 by by ADP cblr-1731 265 38 a a DET cblr-1731 265 39 consumer consumer NOUN cblr-1731 265 40 product product NOUN cblr-1731 265 41 , , PUNCT cblr-1731 265 42 such such ADJ cblr-1731 265 43 as as ADP cblr-1731 265 44 tobacco tobacco NOUN cblr-1731 265 45 companies.59 companies.59 NOUN cblr-1731 265 46 but but CCONJ cblr-1731 265 47 if if SCONJ cblr-1731 265 48 socially socially ADV cblr-1731 265 49 responsible responsible ADJ cblr-1731 265 50 investing investing NOUN cblr-1731 265 51 were be AUX cblr-1731 265 52 a a DET cblr-1731 265 53 top top ADJ cblr-1731 265 54 priority priority NOUN cblr-1731 265 55 for for ADP cblr-1731 265 56 berkshire berkshire NOUN cblr-1731 265 57 , , PUNCT cblr-1731 265 58 then then ADV cblr-1731 265 59 a a DET cblr-1731 265 60 diverse diverse ADJ cblr-1731 265 61 and and CCONJ cblr-1731 265 62 informed informed ADJ cblr-1731 265 63 investment investment NOUN cblr-1731 265 64 committee committee NOUN cblr-1731 265 65 would would AUX cblr-1731 265 66 be be AUX cblr-1731 265 67 in in ADP cblr-1731 265 68 charge charge NOUN cblr-1731 265 69 of of ADP cblr-1731 265 70 decisions decision NOUN cblr-1731 265 71 rather rather ADV cblr-1731 265 72 than than ADP cblr-1731 265 73 a a DET cblr-1731 265 74 single single ADJ cblr-1731 265 75 capital capital NOUN cblr-1731 265 76 allocator allocator NOUN cblr-1731 265 77 . . PUNCT cblr-1731 266 1 d. d. NOUN cblr-1731 266 2 reputation reputation NOUN cblr-1731 266 3 risks risk NOUN cblr-1731 266 4 of of ADP cblr-1731 266 5 skimping skimp VERB cblr-1731 266 6 on on ADP cblr-1731 266 7 public public ADJ cblr-1731 266 8 relations relation NOUN cblr-1731 266 9 berkshire berkshire NOUN cblr-1731 266 10 is be AUX cblr-1731 266 11 unusual unusual ADJ cblr-1731 266 12 in in ADP cblr-1731 266 13 corporate corporate ADJ cblr-1731 266 14 america america PROPN cblr-1731 266 15 for for ADP cblr-1731 266 16 not not PART cblr-1731 266 17 having have VERB cblr-1731 266 18 a a DET cblr-1731 266 19 substantial substantial ADJ cblr-1731 266 20 professional professional ADJ cblr-1731 266 21 communications communication NOUN cblr-1731 266 22 staff staff NOUN cblr-1731 266 23 or or CCONJ cblr-1731 266 24 platoon platoon NOUN cblr-1731 266 25 of of ADP cblr-1731 266 26 lobbyists.60 lobbyists.60 ADJ cblr-1731 266 27 for for ADP cblr-1731 266 28 years year NOUN cblr-1731 266 29 , , PUNCT cblr-1731 266 30 buffett buffett PROPN cblr-1731 266 31 has have AUX cblr-1731 266 32 boasted boast VERB cblr-1731 266 33 about about ADP cblr-1731 266 34 this this DET cblr-1731 266 35 form form NOUN cblr-1731 266 36 of of ADP cblr-1731 266 37 thrift thrift NOUN cblr-1731 266 38 , , PUNCT cblr-1731 266 39 emphasizing emphasize VERB cblr-1731 266 40 that that SCONJ cblr-1731 266 41 he he PRON cblr-1731 266 42 writes write VERB cblr-1731 266 43 his his PRON cblr-1731 266 44 own own ADJ cblr-1731 266 45 letters letter NOUN cblr-1731 266 46 and and CCONJ cblr-1731 266 47 taking take VERB cblr-1731 266 48 pride pride NOUN cblr-1731 266 49 in in ADP cblr-1731 266 50 presiding preside VERB cblr-1731 266 51 over over ADP cblr-1731 266 52 berkshire berkshire NOUN cblr-1731 266 53 ’s ’s PART cblr-1731 266 54 annual annual ADJ cblr-1731 266 55 shareholders shareholder NOUN cblr-1731 266 56 ’ ' PUNCT cblr-1731 266 57 meeting meeting NOUN cblr-1731 266 58 where where SCONJ cblr-1731 266 59 he he PRON cblr-1731 266 60 and and CCONJ cblr-1731 266 61 munger munger NOUN cblr-1731 266 62 respond respond NOUN cblr-1731 266 63 to to ADP cblr-1731 266 64 questions question NOUN cblr-1731 266 65 for for ADP cblr-1731 266 66 six six NUM cblr-1731 266 67 hours.61 hours.61 NOUN cblr-1731 266 68 nor nor CCONJ cblr-1731 266 69 does do AUX cblr-1731 266 70 berkshire berkshire PROPN cblr-1731 266 71 host host NOUN cblr-1731 266 72 analyst analyst NOUN cblr-1731 266 73 conference conference NOUN cblr-1731 266 74 calls call VERB cblr-1731 266 75 or or CCONJ cblr-1731 266 76 participate participate VERB cblr-1731 266 77 in in ADP cblr-1731 266 78 the the DET cblr-1731 266 79 process process NOUN cblr-1731 266 80 of of ADP cblr-1731 266 81 generating generate VERB cblr-1731 266 82 earnings earning NOUN cblr-1731 266 83 guidance guidance NOUN cblr-1731 266 84 . . PUNCT cblr-1731 267 1 buffett buffett PROPN cblr-1731 267 2 promises promise VERB cblr-1731 267 3 the the DET cblr-1731 267 4 subsidiaries subsidiary NOUN cblr-1731 267 5 freedom freedom NOUN cblr-1731 267 6 from from ADP cblr-1731 267 7 such such ADJ cblr-1731 267 8 pressure pressure NOUN cblr-1731 267 9 too too ADV cblr-1731 267 10 , , PUNCT cblr-1731 267 11 whether whether SCONJ cblr-1731 267 12 it it PRON cblr-1731 267 13 is be AUX cblr-1731 267 14 the the DET cblr-1731 267 15 analysts analyst NOUN cblr-1731 267 16 inquiring inquire VERB cblr-1731 267 17 about about ADP cblr-1731 267 18 earnings earning NOUN cblr-1731 267 19 or or CCONJ cblr-1731 267 20 the the DET cblr-1731 267 21 press press NOUN cblr-1731 267 22 probing probe VERB cblr-1731 267 23 corporate corporate ADJ cblr-1731 267 24 affairs affair NOUN cblr-1731 267 25 . . PUNCT cblr-1731 268 1 58 58 NUM cblr-1731 268 2 see see NOUN cblr-1731 268 3 tracer tracer NOUN cblr-1731 268 4 , , PUNCT cblr-1731 268 5 supra supra PROPN cblr-1731 268 6 note note PROPN cblr-1731 268 7 1 1 NUM cblr-1731 268 8 ; ; PUNCT cblr-1731 268 9 stock stock NOUN cblr-1731 268 10 , , PUNCT cblr-1731 268 11 supra supra PROPN cblr-1731 268 12 note note NOUN cblr-1731 268 13 1 1 NUM cblr-1731 268 14 . . X cblr-1731 269 1 for for ADP cblr-1731 269 2 that that DET cblr-1731 269 3 matter matter NOUN cblr-1731 269 4 , , PUNCT cblr-1731 269 5 advocates advocate NOUN cblr-1731 269 6 of of ADP cblr-1731 269 7 a a DET cblr-1731 269 8 host host NOUN cblr-1731 269 9 of of ADP cblr-1731 269 10 causes cause NOUN cblr-1731 269 11 could could AUX cblr-1731 269 12 challenge challenge VERB cblr-1731 269 13 innumerable innumerable ADJ cblr-1731 269 14 berkshire berkshire NOUN cblr-1731 269 15 interests interest NOUN cblr-1731 269 16 , , PUNCT cblr-1731 269 17 ranging range VERB cblr-1731 269 18 from from ADP cblr-1731 269 19 environmentalists environmentalist NOUN cblr-1731 269 20 against against ADP cblr-1731 269 21 coal coal NOUN cblr-1731 269 22 - - PUNCT cblr-1731 269 23 fired fire VERB cblr-1731 269 24 power power NOUN cblr-1731 269 25 plants plant NOUN cblr-1731 269 26 to to ADP cblr-1731 269 27 human human ADJ cblr-1731 269 28 rights right NOUN cblr-1731 269 29 advocates advocate NOUN cblr-1731 269 30 boycotting boycott VERB cblr-1731 269 31 israeli israeli ADJ cblr-1731 269 32 companies company NOUN cblr-1731 269 33 for for ADP cblr-1731 269 34 the the DET cblr-1731 269 35 country country NOUN cblr-1731 269 36 ’s ’s PART cblr-1731 269 37 treatment treatment NOUN cblr-1731 269 38 of of ADP cblr-1731 269 39 palestinians palestinians PROPN cblr-1731 269 40 . . PUNCT cblr-1731 270 1 59 59 NUM cblr-1731 271 1 this this DET cblr-1731 271 2 assertion assertion NOUN cblr-1731 271 3 is be AUX cblr-1731 271 4 based base VERB cblr-1731 271 5 on on ADP cblr-1731 271 6 private private ADJ cblr-1731 271 7 correspondence correspondence NOUN cblr-1731 271 8 in in ADP cblr-1731 271 9 the the DET cblr-1731 271 10 author author NOUN cblr-1731 271 11 ’s ’s PART cblr-1731 271 12 files file NOUN cblr-1731 271 13 , , PUNCT cblr-1731 271 14 which which PRON cblr-1731 271 15 have have AUX cblr-1731 271 16 been be AUX cblr-1731 271 17 verified verify VERB cblr-1731 271 18 by by ADP cblr-1731 271 19 editors editor NOUN cblr-1731 271 20 of of ADP cblr-1731 271 21 the the DET cblr-1731 271 22 columbia columbia PROPN cblr-1731 271 23 business business PROPN cblr-1731 271 24 law law PROPN cblr-1731 271 25 review review NOUN cblr-1731 271 26 . . PUNCT cblr-1731 272 1 60 60 NUM cblr-1731 272 2 an an DET cblr-1731 272 3 entire entire ADJ cblr-1731 272 4 academic academic ADJ cblr-1731 272 5 and and CCONJ cblr-1731 272 6 professional professional ADJ cblr-1731 272 7 field field NOUN cblr-1731 272 8 is be AUX cblr-1731 272 9 devoted devote VERB cblr-1731 272 10 to to ADP cblr-1731 272 11 the the DET cblr-1731 272 12 topic topic NOUN cblr-1731 272 13 . . PUNCT cblr-1731 273 1 see see VERB cblr-1731 273 2 , , PUNCT cblr-1731 273 3 e.g. e.g. ADV cblr-1731 273 4 , , PUNCT cblr-1731 273 5 joep joep ADJ cblr-1731 273 6 cornelissen cornelissen NOUN cblr-1731 273 7 , , PUNCT cblr-1731 273 8 corporate corporate ADJ cblr-1731 273 9 communication communication NOUN cblr-1731 273 10 : : PUNCT cblr-1731 273 11 a a DET cblr-1731 273 12 guide guide NOUN cblr-1731 273 13 to to ADP cblr-1731 273 14 theory theory NOUN cblr-1731 273 15 and and CCONJ cblr-1731 273 16 practice practice NOUN cblr-1731 273 17 ( ( PUNCT cblr-1731 273 18 3d 3d NUM cblr-1731 273 19 ed ed NOUN cblr-1731 273 20 . . PROPN cblr-1731 273 21 2011 2011 NUM cblr-1731 273 22 ) ) PUNCT cblr-1731 273 23 ; ; PUNCT cblr-1731 273 24 paul paul PROPN cblr-1731 273 25 a. a. PROPN cblr-1731 273 26 argenti argenti PROPN cblr-1731 273 27 , , PUNCT cblr-1731 273 28 corporate corporate ADJ cblr-1731 273 29 communication communication NOUN cblr-1731 273 30 ( ( PUNCT cblr-1731 273 31 6th 6th ADJ cblr-1731 273 32 ed ed NOUN cblr-1731 273 33 . . PROPN cblr-1731 273 34 2012 2012 NUM cblr-1731 273 35 ) ) PUNCT cblr-1731 273 36 . . PUNCT cblr-1731 274 1 61 61 NUM cblr-1731 274 2 see see VERB cblr-1731 274 3 , , PUNCT cblr-1731 274 4 e.g. e.g. ADV cblr-1731 274 5 , , PUNCT cblr-1731 274 6 the the DET cblr-1731 274 7 essays essay NOUN cblr-1731 274 8 of of ADP cblr-1731 274 9 warren warren PROPN cblr-1731 274 10 buffett buffett PROPN cblr-1731 274 11 , , PUNCT cblr-1731 274 12 supra supra PROPN cblr-1731 274 13 note note PROPN cblr-1731 274 14 15 15 NUM cblr-1731 274 15 , , PUNCT cblr-1731 274 16 at at ADP cblr-1731 274 17 34–35 34–35 NUM cblr-1731 274 18 ( ( PUNCT cblr-1731 274 19 owner owner NOUN cblr-1731 274 20 - - PUNCT cblr-1731 274 21 related relate VERB cblr-1731 274 22 business business NOUN cblr-1731 274 23 principle principle ADJ cblr-1731 274 24 number number NOUN cblr-1731 274 25 12 12 NUM cblr-1731 274 26 ) ) PUNCT cblr-1731 274 27 , , PUNCT cblr-1731 274 28 80 80 NUM cblr-1731 274 29 . . PUNCT cblr-1731 275 1 cunningham cunningham PROPN cblr-1731 275 2 – – PUNCT cblr-1731 275 3 final final ADJ cblr-1731 275 4 24 24 NUM cblr-1731 275 5 columbia columbia PROPN cblr-1731 275 6 business business NOUN cblr-1731 275 7 law law PROPN cblr-1731 275 8 review review NOUN cblr-1731 275 9 [ [ X cblr-1731 275 10 vol vol NOUN cblr-1731 275 11 . . PUNCT cblr-1731 275 12 2016 2016 NUM cblr-1731 276 1 yet yet CCONJ cblr-1731 276 2 the the DET cblr-1731 276 3 subsidiaries subsidiary NOUN cblr-1731 276 4 engage engage VERB cblr-1731 276 5 in in ADP cblr-1731 276 6 competitive competitive ADJ cblr-1731 276 7 markets market NOUN cblr-1731 276 8 with with ADP cblr-1731 276 9 pressures pressure NOUN cblr-1731 276 10 from from ADP cblr-1731 276 11 rivals rival NOUN cblr-1731 276 12 , , PUNCT cblr-1731 276 13 media medium NOUN cblr-1731 276 14 , , PUNCT cblr-1731 276 15 and and CCONJ cblr-1731 276 16 political political ADJ cblr-1731 276 17 foes foe NOUN cblr-1731 276 18 . . PUNCT cblr-1731 277 1 berkshire berkshire PROPN cblr-1731 277 2 ’s ’s PART cblr-1731 277 3 most most ADV cblr-1731 277 4 important important ADJ cblr-1731 277 5 business business NOUN cblr-1731 277 6 historically historically ADV cblr-1731 277 7 has have AUX cblr-1731 277 8 been be AUX cblr-1731 277 9 insurance insurance NOUN cblr-1731 277 10 , , PUNCT cblr-1731 277 11 an an DET cblr-1731 277 12 industry industry NOUN cblr-1731 277 13 central central ADJ cblr-1731 277 14 to to ADP cblr-1731 277 15 the the DET cblr-1731 277 16 functioning functioning NOUN cblr-1731 277 17 of of ADP cblr-1731 277 18 the the DET cblr-1731 277 19 american american ADJ cblr-1731 277 20 economy economy NOUN cblr-1731 277 21 , , PUNCT cblr-1731 277 22 and and CCONJ cblr-1731 277 23 berkshire berkshire NOUN cblr-1731 277 24 ’s ’s PART cblr-1731 277 25 most most ADV cblr-1731 277 26 substantial substantial ADJ cblr-1731 277 27 investments investment NOUN cblr-1731 277 28 have have AUX cblr-1731 277 29 been be AUX cblr-1731 277 30 in in ADP cblr-1731 277 31 the the DET cblr-1731 277 32 financial financial ADJ cblr-1731 277 33 sector.62 sector.62 NOUN cblr-1731 277 34 among among ADP cblr-1731 277 35 other other ADJ cblr-1731 277 36 berkshire berkshire NOUN cblr-1731 277 37 subsidiaries subsidiary NOUN cblr-1731 277 38 , , PUNCT cblr-1731 277 39 clayton clayton PROPN cblr-1731 277 40 homes home NOUN cblr-1731 277 41 is be AUX cblr-1731 277 42 a a DET cblr-1731 277 43 significant significant ADJ cblr-1731 277 44 supplier supplier NOUN cblr-1731 277 45 of of ADP cblr-1731 277 46 low low ADJ cblr-1731 277 47 - - PUNCT cblr-1731 277 48 income income NOUN cblr-1731 277 49 housing housing NOUN cblr-1731 277 50 while while SCONJ cblr-1731 277 51 berkshire berkshire PROPN cblr-1731 277 52 hathaway hathaway PROPN cblr-1731 277 53 energy energy NOUN cblr-1731 277 54 is be AUX cblr-1731 277 55 a a DET cblr-1731 277 56 force force NOUN cblr-1731 277 57 in in ADP cblr-1731 277 58 its its PRON cblr-1731 277 59 industry industry NOUN cblr-1731 277 60 with with ADP cblr-1731 277 61 an an DET cblr-1731 277 62 influential influential ADJ cblr-1731 277 63 voice voice NOUN cblr-1731 277 64 in in ADP cblr-1731 277 65 the the DET cblr-1731 277 66 evolution evolution NOUN cblr-1731 277 67 of of ADP cblr-1731 277 68 related related ADJ cblr-1731 277 69 national national ADJ cblr-1731 277 70 policy policy NOUN cblr-1731 277 71 . . PUNCT cblr-1731 278 1 while while SCONJ cblr-1731 278 2 certain certain ADJ cblr-1731 278 3 berkshire berkshire NOUN cblr-1731 278 4 subsidiaries subsidiary NOUN cblr-1731 278 5 maintain maintain VERB cblr-1731 278 6 public public ADJ cblr-1731 278 7 relations relation NOUN cblr-1731 278 8 specialists specialist NOUN cblr-1731 278 9 or or CCONJ cblr-1731 278 10 lobbyists lobbyist NOUN cblr-1731 278 11 , , PUNCT cblr-1731 278 12 most most ADJ cblr-1731 278 13 do do VERB cblr-1731 278 14 not not PART cblr-1731 278 15 and and CCONJ cblr-1731 278 16 there there PRON cblr-1731 278 17 is be VERB cblr-1731 278 18 no no DET cblr-1731 278 19 centralized centralized ADJ cblr-1731 278 20 function function NOUN cblr-1731 278 21 for for ADP cblr-1731 278 22 such such ADJ cblr-1731 278 23 services service NOUN cblr-1731 278 24 . . PUNCT cblr-1731 279 1 whether whether SCONJ cblr-1731 279 2 merely merely ADV cblr-1731 279 3 a a DET cblr-1731 279 4 product product NOUN cblr-1731 279 5 of of ADP cblr-1731 279 6 image image NOUN cblr-1731 279 7 envy envy NOUN cblr-1731 279 8 in in ADP cblr-1731 279 9 high high ADJ cblr-1731 279 10 profile profile NOUN cblr-1731 279 11 businesses business NOUN cblr-1731 279 12 or or CCONJ cblr-1731 279 13 something something PRON cblr-1731 279 14 more more ADV cblr-1731 279 15 substantive substantive ADJ cblr-1731 279 16 , , PUNCT cblr-1731 279 17 the the DET cblr-1731 279 18 costs cost NOUN cblr-1731 279 19 of of ADP cblr-1731 279 20 corporate corporate ADJ cblr-1731 279 21 exposés exposés NOUN cblr-1731 279 22 can can AUX cblr-1731 279 23 be be AUX cblr-1731 279 24 mitigated mitigate VERB cblr-1731 279 25 by by ADP cblr-1731 279 26 greater great ADJ cblr-1731 279 27 coordination coordination NOUN cblr-1731 279 28 and and CCONJ cblr-1731 279 29 formalization formalization NOUN cblr-1731 279 30 of of ADP cblr-1731 279 31 the the DET cblr-1731 279 32 public public ADJ cblr-1731 279 33 relations relation NOUN cblr-1731 279 34 function function NOUN cblr-1731 279 35 . . PUNCT cblr-1731 280 1 one one NUM cblr-1731 280 2 such such ADJ cblr-1731 280 3 exposé exposé NOUN cblr-1731 280 4 attacked attack VERB cblr-1731 280 5 berkshire berkshire NOUN cblr-1731 280 6 ’s ’s PART cblr-1731 280 7 practice practice NOUN cblr-1731 280 8 of of ADP cblr-1731 280 9 generating generate VERB cblr-1731 280 10 substantial substantial ADJ cblr-1731 280 11 investable investable ADJ cblr-1731 280 12 funds fund NOUN cblr-1731 280 13 from from ADP cblr-1731 280 14 insurance insurance NOUN cblr-1731 280 15 float.63 float.63 PROPN cblr-1731 280 16 insurance insurance NOUN cblr-1731 280 17 float float NOUN cblr-1731 280 18 refers refer VERB cblr-1731 280 19 to to ADP cblr-1731 280 20 funds fund NOUN cblr-1731 280 21 that that PRON cblr-1731 280 22 arise arise VERB cblr-1731 280 23 from from ADP cblr-1731 280 24 the the DET cblr-1731 280 25 fact fact NOUN cblr-1731 280 26 that that SCONJ cblr-1731 280 27 policy policy NOUN cblr-1731 280 28 premiums premium NOUN cblr-1731 280 29 are be AUX cblr-1731 280 30 paid pay VERB cblr-1731 280 31 up up ADP cblr-1731 280 32 front front NOUN cblr-1731 280 33 while while SCONJ cblr-1731 280 34 claims claim NOUN cblr-1731 280 35 need need AUX cblr-1731 280 36 only only ADV cblr-1731 280 37 be be AUX cblr-1731 280 38 paid pay VERB cblr-1731 280 39 , , PUNCT cblr-1731 280 40 if if SCONJ cblr-1731 280 41 at at ADV cblr-1731 280 42 all all ADV cblr-1731 280 43 , , PUNCT cblr-1731 280 44 much much ADV cblr-1731 280 45 later later ADV cblr-1731 280 46 . . PUNCT cblr-1731 281 1 buffett buffett PROPN cblr-1731 281 2 frequently frequently ADV cblr-1731 281 3 describes describe VERB cblr-1731 281 4 the the DET cblr-1731 281 5 appeal appeal NOUN cblr-1731 281 6 of of ADP cblr-1731 281 7 such such ADJ cblr-1731 281 8 leverage leverage NOUN cblr-1731 281 9 , , PUNCT cblr-1731 281 10 explaining explain VERB cblr-1731 281 11 that that SCONJ cblr-1731 281 12 berkshire berkshire NOUN cblr-1731 281 13 is be AUX cblr-1731 281 14 often often ADV cblr-1731 281 15 paid pay VERB cblr-1731 281 16 to to PART cblr-1731 281 17 hold hold VERB cblr-1731 281 18 such such ADJ cblr-1731 281 19 money money NOUN cblr-1731 281 20 — — PUNCT cblr-1731 281 21 so so ADV cblr-1731 281 22 long long ADV cblr-1731 281 23 as as SCONJ cblr-1731 281 24 risks risk NOUN cblr-1731 281 25 are be AUX cblr-1731 281 26 properly properly ADV cblr-1731 281 27 priced.64 priced.64 PROPN cblr-1731 281 28 buffett buffett PROPN cblr-1731 281 29 thus thus ADV cblr-1731 281 30 stresses stress VERB cblr-1731 281 31 the the DET cblr-1731 281 32 relative relative ADJ cblr-1731 281 33 cost cost NOUN cblr-1731 281 34 of of ADP cblr-1731 281 35 float float NOUN cblr-1731 281 36 , , PUNCT cblr-1731 281 37 noting note VERB cblr-1731 281 38 the the DET cblr-1731 281 39 importance importance NOUN cblr-1731 281 40 of of ADP cblr-1731 281 41 disciplined discipline VERB cblr-1731 281 42 underwriting underwriting NOUN cblr-1731 281 43 . . PUNCT cblr-1731 282 1 but but CCONJ cblr-1731 282 2 a a DET cblr-1731 282 3 reporter reporter NOUN cblr-1731 282 4 turned turn VERB cblr-1731 282 5 the the DET cblr-1731 282 6 strategy strategy NOUN cblr-1731 282 7 around around ADP cblr-1731 282 8 on on ADP cblr-1731 282 9 berkshire berkshire NOUN cblr-1731 282 10 , , PUNCT cblr-1731 282 11 portraying portray VERB cblr-1731 282 12 the the DET cblr-1731 282 13 company company NOUN cblr-1731 282 14 ’s ’s PART cblr-1731 282 15 approach approach NOUN cblr-1731 282 16 as as ADP cblr-1731 282 17 giving give VERB cblr-1731 282 18 insurance insurance NOUN cblr-1731 282 19 personnel personnel NOUN cblr-1731 282 20 perverse perverse ADJ cblr-1731 282 21 incentives incentive NOUN cblr-1731 282 22 to to PART cblr-1731 282 23 do do AUX cblr-1731 282 24 everything everything PRON cblr-1731 282 25 in in ADP cblr-1731 282 26 their their PRON cblr-1731 282 27 power power NOUN cblr-1731 282 28 to to PART cblr-1731 282 29 avoid avoid VERB cblr-1731 282 30 or or CCONJ cblr-1731 282 31 delay delay VERB cblr-1731 282 32 paying pay VERB cblr-1731 282 33 legitimate legitimate ADJ cblr-1731 282 34 claims claim NOUN cblr-1731 282 35 , , PUNCT cblr-1731 282 36 including include VERB cblr-1731 282 37 acting act VERB cblr-1731 282 38 in in ADP cblr-1731 282 39 bad bad ADJ cblr-1731 282 40 faith faith NOUN cblr-1731 282 41 . . PUNCT cblr-1731 283 1 62 62 NUM cblr-1731 283 2 see see VERB cblr-1731 283 3 infra infra NOUN cblr-1731 283 4 note note VERB cblr-1731 283 5 101 101 NUM cblr-1731 283 6 and and CCONJ cblr-1731 283 7 accompanying accompany VERB cblr-1731 283 8 text text NOUN cblr-1731 283 9 . . PUNCT cblr-1731 284 1 63 63 NUM cblr-1731 284 2 mark mark PROPN cblr-1731 284 3 greenblatt greenblatt PROPN cblr-1731 284 4 , , PUNCT cblr-1731 284 5 berkshire berkshire PROPN cblr-1731 284 6 hathaway hathaway PROPN cblr-1731 284 7 subsidiaries subsidiary NOUN cblr-1731 284 8 deny deny VERB cblr-1731 284 9 , , PUNCT cblr-1731 284 10 delay delay NOUN cblr-1731 284 11 asbestos asbestos NOUN cblr-1731 284 12 , , PUNCT cblr-1731 284 13 hazard hazard NOUN cblr-1731 284 14 claims claim NOUN cblr-1731 284 15 , , PUNCT cblr-1731 284 16 suits suit VERB cblr-1731 284 17 insiders insider NOUN cblr-1731 284 18 allege allege VERB cblr-1731 284 19 , , PUNCT cblr-1731 284 20 scripps scripps NOUN cblr-1731 284 21 ( ( PUNCT cblr-1731 284 22 oct oct PROPN cblr-1731 284 23 . . PROPN cblr-1731 284 24 6 6 NUM cblr-1731 284 25 , , PUNCT cblr-1731 284 26 2013 2013 NUM cblr-1731 284 27 ) ) PUNCT cblr-1731 284 28 , , PUNCT cblr-1731 284 29 http://www.abcactionnews.com/news/local-news/i-team-investigates/berk http://www.abcactionnews.com/news/local-news/i-team-investigates/berk PROPN cblr-1731 284 30 shire shire PROPN cblr-1731 284 31 - - PUNCT cblr-1731 284 32 hathaway hathaway NOUN cblr-1731 284 33 - - PUNCT cblr-1731 284 34 subsidiaries subsidiary NOUN cblr-1731 284 35 - - PUNCT cblr-1731 284 36 deny deny NOUN cblr-1731 284 37 - - PUNCT cblr-1731 284 38 delay delay NOUN cblr-1731 284 39 - - PUNCT cblr-1731 284 40 asbestos asbestos NOUN cblr-1731 284 41 - - PUNCT cblr-1731 284 42 hazard hazard NOUN cblr-1731 284 43 - - PUNCT cblr-1731 284 44 claims claim NOUN cblr-1731 284 45 - - PUNCT cblr-1731 284 46 suitsinsiders suitsinsider NOUN cblr-1731 284 47 - - PUNCT cblr-1731 284 48 allege1381113034234 allege1381113034234 NOUN cblr-1731 284 49 [ [ X cblr-1731 284 50 http://perma.cc/xl8q-hd75 http://perma.cc/xl8q-hd75 X cblr-1731 284 51 ] ] X cblr-1731 284 52 . . PUNCT cblr-1731 285 1 64 64 NUM cblr-1731 285 2 see see VERB cblr-1731 285 3 , , PUNCT cblr-1731 285 4 e.g. e.g. ADV cblr-1731 285 5 , , PUNCT cblr-1731 285 6 the the DET cblr-1731 285 7 essays essay NOUN cblr-1731 285 8 of of ADP cblr-1731 285 9 warren warren PROPN cblr-1731 285 10 buffett buffett PROPN cblr-1731 285 11 , , PUNCT cblr-1731 285 12 supra supra PROPN cblr-1731 285 13 note note PROPN cblr-1731 285 14 15 15 NUM cblr-1731 285 15 , , PUNCT cblr-1731 285 16 at at ADP cblr-1731 285 17 32 32 NUM cblr-1731 285 18 , , PUNCT cblr-1731 285 19 295 295 NUM cblr-1731 285 20 , , PUNCT cblr-1731 285 21 299 299 NUM cblr-1731 285 22 , , PUNCT cblr-1731 285 23 302 302 NUM cblr-1731 285 24 . . PUNCT cblr-1731 286 1 cunningham cunningham PROPN cblr-1731 286 2 – – PUNCT cblr-1731 286 3 final final ADJ cblr-1731 286 4 no no NOUN cblr-1731 286 5 . . NOUN cblr-1731 286 6 1:1 1:1 NUM cblr-1731 286 7 ] ] PUNCT cblr-1731 286 8 berkshire berkshire PROPN cblr-1731 286 9 ’s ’s PART cblr-1731 286 10 blemishes blemish NOUN cblr-1731 286 11 25 25 NUM cblr-1731 286 12 the the DET cblr-1731 286 13 focus focus NOUN cblr-1731 286 14 of of ADP cblr-1731 286 15 the the DET cblr-1731 286 16 october october PROPN cblr-1731 286 17 2013 2013 NUM cblr-1731 286 18 exposé exposé NOUN cblr-1731 286 19 , , PUNCT cblr-1731 286 20 by by ADP cblr-1731 286 21 mark mark PROPN cblr-1731 286 22 greenblatt greenblatt PROPN cblr-1731 286 23 of of ADP cblr-1731 286 24 scripps scripps PROPN cblr-1731 286 25 , , PUNCT cblr-1731 286 26 was be AUX cblr-1731 286 27 national national ADJ cblr-1731 286 28 indemnity indemnity NOUN cblr-1731 286 29 company company NOUN cblr-1731 286 30 ’s ’s PART cblr-1731 286 31 ( ( PUNCT cblr-1731 286 32 “ " PUNCT cblr-1731 286 33 nico nico NOUN cblr-1731 286 34 ” " PUNCT cblr-1731 286 35 ) ) PUNCT cblr-1731 286 36 specialty specialty NOUN cblr-1731 286 37 business business NOUN cblr-1731 286 38 in in ADP cblr-1731 286 39 retroactively retroactively ADV cblr-1731 286 40 reinsuring reinsure VERB cblr-1731 286 41 long long ADJ cblr-1731 286 42 - - PUNCT cblr-1731 286 43 tail tail NOUN cblr-1731 286 44 asbestos asbestos NOUN cblr-1731 286 45 and and CCONJ cblr-1731 286 46 environmental environmental ADJ cblr-1731 286 47 risks risk NOUN cblr-1731 286 48 , , PUNCT cblr-1731 286 49 giving give VERB cblr-1731 286 50 a a DET cblr-1731 286 51 dozen dozen NOUN cblr-1731 286 52 illustrations illustration NOUN cblr-1731 286 53 from from ADP cblr-1731 286 54 the the DET cblr-1731 286 55 thousands thousand NOUN cblr-1731 286 56 of of ADP cblr-1731 286 57 policies policy NOUN cblr-1731 286 58 it it PRON cblr-1731 286 59 wrote.65 wrote.65 ADV cblr-1731 286 60 the the DET cblr-1731 286 61 illustrations illustration NOUN cblr-1731 286 62 involved involve VERB cblr-1731 286 63 legal legal ADJ cblr-1731 286 64 disputes dispute NOUN cblr-1731 286 65 among among ADP cblr-1731 286 66 policyholders policyholder NOUN cblr-1731 286 67 , , PUNCT cblr-1731 286 68 corporate corporate ADJ cblr-1731 286 69 defendants defendant NOUN cblr-1731 286 70 , , PUNCT cblr-1731 286 71 the the DET cblr-1731 286 72 original original ADJ cblr-1731 286 73 insurer insurer NOUN cblr-1731 286 74 , , PUNCT cblr-1731 286 75 and and CCONJ cblr-1731 286 76 berkshire berkshire NOUN cblr-1731 286 77 ’s ’s PART cblr-1731 286 78 companies company NOUN cblr-1731 286 79 . . PUNCT cblr-1731 287 1 the the DET cblr-1731 287 2 piece piece NOUN cblr-1731 287 3 spotlighted spotlight VERB cblr-1731 287 4 lawsuits lawsuit NOUN cblr-1731 287 5 charging charge VERB cblr-1731 287 6 bad bad ADJ cblr-1731 287 7 faith faith NOUN cblr-1731 287 8 in in ADP cblr-1731 287 9 payment payment NOUN cblr-1731 287 10 delays delay NOUN cblr-1731 287 11 or or CCONJ cblr-1731 287 12 denials denial NOUN cblr-1731 287 13 , , PUNCT cblr-1731 287 14 including include VERB cblr-1731 287 15 lawsuits lawsuit NOUN cblr-1731 287 16 by by ADP cblr-1731 287 17 policyholders policyholder NOUN cblr-1731 287 18 against against ADP cblr-1731 287 19 the the DET cblr-1731 287 20 ceding cede VERB cblr-1731 287 21 insurers insurer NOUN cblr-1731 287 22 under under ADP cblr-1731 287 23 the the DET cblr-1731 287 24 original original ADJ cblr-1731 287 25 insurance insurance NOUN cblr-1731 287 26 policies policy NOUN cblr-1731 287 27 or or CCONJ cblr-1731 287 28 against against ADP cblr-1731 287 29 nico nico NOUN cblr-1731 287 30 alleging allege VERB cblr-1731 287 31 wrongful wrongful ADJ cblr-1731 287 32 interference interference NOUN cblr-1731 287 33 with with ADP cblr-1731 287 34 those those DET cblr-1731 287 35 policies.66 policies.66 NOUN cblr-1731 287 36 the the DET cblr-1731 287 37 story story NOUN cblr-1731 287 38 quoted quote VERB cblr-1731 287 39 aspersions aspersion NOUN cblr-1731 287 40 from from ADP cblr-1731 287 41 claimants claimant NOUN cblr-1731 287 42 , , PUNCT cblr-1731 287 43 their their PRON cblr-1731 287 44 lawyers lawyer NOUN cblr-1731 287 45 , , PUNCT cblr-1731 287 46 and and CCONJ cblr-1731 287 47 insurance insurance NOUN cblr-1731 287 48 industry industry NOUN cblr-1731 287 49 executives executive NOUN cblr-1731 287 50 , , PUNCT cblr-1731 287 51 blaming blame VERB cblr-1731 287 52 berkshire berkshire NOUN cblr-1731 287 53 ’s ’s PART cblr-1731 287 54 float float ADJ cblr-1731 287 55 philosophy philosophy NOUN cblr-1731 287 56 for for ADP cblr-1731 287 57 the the DET cblr-1731 287 58 problems.67 problems.67 NOUN cblr-1731 287 59 while while SCONJ cblr-1731 287 60 greenblatt greenblatt PROPN cblr-1731 287 61 had have AUX cblr-1731 287 62 reached reach VERB cblr-1731 287 63 out out ADP cblr-1731 287 64 to to PART cblr-1731 287 65 berkshire berkshire VERB cblr-1731 287 66 and and CCONJ cblr-1731 287 67 nico nico PROPN cblr-1731 287 68 personnel personnel NOUN cblr-1731 287 69 for for ADP cblr-1731 287 70 comment comment NOUN cblr-1731 287 71 , , PUNCT cblr-1731 287 72 the the DET cblr-1731 287 73 recipients recipient NOUN cblr-1731 287 74 did do AUX cblr-1731 287 75 not not PART cblr-1731 287 76 grant grant VERB cblr-1731 287 77 interviews interview NOUN cblr-1731 287 78 and and CCONJ cblr-1731 287 79 time time NOUN cblr-1731 287 80 constraints constraint NOUN cblr-1731 287 81 made make VERB cblr-1731 287 82 them they PRON cblr-1731 287 83 unable unable ADJ cblr-1731 287 84 to to PART cblr-1731 287 85 respond respond VERB cblr-1731 287 86 to to ADP cblr-1731 287 87 every every DET cblr-1731 287 88 written write VERB cblr-1731 287 89 question question NOUN cblr-1731 287 90 he he PRON cblr-1731 287 91 posed.68 posed.68 VERB cblr-1731 287 92 within within ADP cblr-1731 287 93 days day NOUN cblr-1731 287 94 of of ADP cblr-1731 287 95 publication publication NOUN cblr-1731 287 96 , , PUNCT cblr-1731 287 97 berkshire berkshire PROPN cblr-1731 287 98 emailed email VERB cblr-1731 287 99 greenblatt greenblatt PROPN cblr-1731 287 100 to to PART cblr-1731 287 101 explain explain VERB cblr-1731 287 102 various various ADJ cblr-1731 287 103 65 65 NUM cblr-1731 287 104 greenblatt greenblatt PROPN cblr-1731 287 105 , , PUNCT cblr-1731 287 106 supra supra PROPN cblr-1731 287 107 note note PROPN cblr-1731 287 108 63 63 NUM cblr-1731 287 109 . . PUNCT cblr-1731 288 1 66 66 NUM cblr-1731 289 1 i i PRON cblr-1731 289 2 d. d. PROPN cblr-1731 289 3 67 67 NUM cblr-1731 290 1 i i PRON cblr-1731 290 2 d. d. PROPN cblr-1731 290 3 greenblatt greenblatt PROPN cblr-1731 290 4 interviewed interview VERB cblr-1731 290 5 me i PRON cblr-1731 290 6 for for ADP cblr-1731 290 7 the the DET cblr-1731 290 8 story story NOUN cblr-1731 290 9 too too ADV cblr-1731 290 10 , , PUNCT cblr-1731 290 11 and and CCONJ cblr-1731 290 12 correctly correctly ADV cblr-1731 290 13 quoted quote VERB cblr-1731 290 14 me i PRON cblr-1731 290 15 as as ADP cblr-1731 290 16 countering counter VERB cblr-1731 290 17 as as SCONJ cblr-1731 290 18 follows follow VERB cblr-1731 290 19 : : PUNCT cblr-1731 290 20 george george PROPN cblr-1731 290 21 washington washington PROPN cblr-1731 290 22 university university PROPN cblr-1731 290 23 law law NOUN cblr-1731 290 24 professor professor NOUN cblr-1731 290 25 lawrence lawrence PROPN cblr-1731 290 26 cunningham cunningham PROPN cblr-1731 290 27 cautions caution VERB cblr-1731 290 28 that that DET cblr-1731 290 29 float float NOUN cblr-1731 290 30 is be AUX cblr-1731 290 31 an an DET cblr-1731 290 32 “ " PUNCT cblr-1731 290 33 inherent inherent ADJ cblr-1731 290 34 feature feature NOUN cblr-1731 290 35 ” " PUNCT cblr-1731 290 36 of of ADP cblr-1731 290 37 insurance insurance NOUN cblr-1731 290 38 , , PUNCT cblr-1731 290 39 and and CCONJ cblr-1731 290 40 it it PRON cblr-1731 290 41 ’s ’ VERB cblr-1731 290 42 not not PART cblr-1731 290 43 unusual unusual ADJ cblr-1731 290 44 to to PART cblr-1731 290 45 see see VERB cblr-1731 290 46 lawsuits lawsuit NOUN cblr-1731 290 47 in in ADP cblr-1731 290 48 which which PRON cblr-1731 290 49 policyholders policyholder NOUN cblr-1731 290 50 or or CCONJ cblr-1731 290 51 claimants claimant NOUN cblr-1731 290 52 say say VERB cblr-1731 290 53 an an DET cblr-1731 290 54 insurer insurer NOUN cblr-1731 290 55 or or CCONJ cblr-1731 290 56 claims claim NOUN cblr-1731 290 57 administrator administrator NOUN cblr-1731 290 58 acted act VERB cblr-1731 290 59 in in ADP cblr-1731 290 60 bad bad ADJ cblr-1731 290 61 faith faith NOUN cblr-1731 290 62 by by ADP cblr-1731 290 63 delaying delay VERB cblr-1731 290 64 payment payment NOUN cblr-1731 290 65 . . PUNCT cblr-1731 291 1 cunningham cunningham PROPN cblr-1731 291 2 , , PUNCT cblr-1731 291 3 who who PRON cblr-1731 291 4 is be AUX cblr-1731 291 5 also also ADV cblr-1731 291 6 a a DET cblr-1731 291 7 berkshire berkshire NOUN cblr-1731 291 8 shareholder shareholder NOUN cblr-1731 291 9 and and CCONJ cblr-1731 291 10 has have AUX cblr-1731 291 11 edited edit VERB cblr-1731 291 12 several several ADJ cblr-1731 291 13 editions edition NOUN cblr-1731 291 14 of of ADP cblr-1731 291 15 “ " PUNCT cblr-1731 291 16 the the DET cblr-1731 291 17 essays essay NOUN cblr-1731 291 18 of of ADP cblr-1731 291 19 warren warren PROPN cblr-1731 291 20 buffett buffett PROPN cblr-1731 291 21 , , PUNCT cblr-1731 291 22 ” " PUNCT cblr-1731 291 23 said say VERB cblr-1731 291 24 berkshire berkshire ADJ cblr-1731 291 25 corporate corporate ADJ cblr-1731 291 26 culture culture NOUN cblr-1731 291 27 rests rest VERB cblr-1731 291 28 on on ADP cblr-1731 291 29 “ " PUNCT cblr-1731 291 30 unwavering unwavere VERB cblr-1731 291 31 commitment commitment NOUN cblr-1731 291 32 to to ADP cblr-1731 291 33 integrity integrity NOUN cblr-1731 291 34 . . PUNCT cblr-1731 291 35 ” " PUNCT cblr-1731 292 1 he he PRON cblr-1731 292 2 said say VERB cblr-1731 292 3 it it PRON cblr-1731 292 4 would would AUX cblr-1731 292 5 be be AUX cblr-1731 292 6 “ " PUNCT cblr-1731 292 7 antithetical antithetical ADJ cblr-1731 292 8 for for SCONJ cblr-1731 292 9 the the DET cblr-1731 292 10 company company NOUN cblr-1731 292 11 to to PART cblr-1731 292 12 jeopardize jeopardize VERB cblr-1731 292 13 that that DET cblr-1731 292 14 reputation reputation NOUN cblr-1731 292 15 by by ADP cblr-1731 292 16 wrongfully wrongfully ADV cblr-1731 292 17 delaying delay VERB cblr-1731 292 18 or or CCONJ cblr-1731 292 19 denying deny VERB cblr-1731 292 20 claims claim NOUN cblr-1731 292 21 or or CCONJ cblr-1731 292 22 acting act VERB cblr-1731 292 23 in in ADP cblr-1731 292 24 any any DET cblr-1731 292 25 way way NOUN cblr-1731 292 26 inconsistent inconsistent ADJ cblr-1731 292 27 with with ADP cblr-1731 292 28 faithful faithful ADJ cblr-1731 292 29 administration administration NOUN cblr-1731 292 30 and and CCONJ cblr-1731 292 31 payment payment NOUN cblr-1731 292 32 of of ADP cblr-1731 292 33 claims claim NOUN cblr-1731 292 34 . . PUNCT cblr-1731 292 35 ” " PUNCT cblr-1731 293 1 68 68 NUM cblr-1731 293 2 interested interested ADJ cblr-1731 293 3 readers reader NOUN cblr-1731 293 4 can can AUX cblr-1731 293 5 find find VERB cblr-1731 293 6 the the DET cblr-1731 293 7 email email NOUN cblr-1731 293 8 queries query VERB cblr-1731 293 9 at at ADP cblr-1731 293 10 the the DET cblr-1731 293 11 following follow VERB cblr-1731 293 12 link link NOUN cblr-1731 293 13 : : PUNCT cblr-1731 293 14 http://media2.scrippsnationalnews.com/shns/risky_business/berkshire_e http://media2.scrippsnationalnews.com/shns/risky_business/berkshire_e ADV cblr-1731 293 15 mails mail NOUN cblr-1731 293 16 / / SYM cblr-1731 293 17 index.html index.html PROPN cblr-1731 294 1 [ [ X cblr-1731 294 2 http://perma.cc/74dr-u2jq http://perma.cc/74dr-u2jq X cblr-1731 294 3 ] ] PUNCT cblr-1731 294 4 . . 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NOUN cblr-1731 296 4 2016 2016 NUM cblr-1731 296 5 inaccuracies inaccuracy NOUN cblr-1731 296 6 in in ADP cblr-1731 296 7 the the DET cblr-1731 296 8 story story NOUN cblr-1731 296 9 but but CCONJ cblr-1731 296 10 , , PUNCT cblr-1731 296 11 shortly shortly ADV cblr-1731 296 12 thereafter thereafter ADV cblr-1731 296 13 , , PUNCT cblr-1731 296 14 scripps scripps NOUN cblr-1731 296 15 emailed email VERB cblr-1731 296 16 berkshire berkshire NOUN cblr-1731 296 17 to to PART cblr-1731 296 18 say say VERB cblr-1731 296 19 it it PRON cblr-1731 296 20 stood stand VERB cblr-1731 296 21 by by ADP cblr-1731 296 22 it.69 it.69 NOUN cblr-1731 297 1 so so ADV cblr-1731 297 2 two two NUM cblr-1731 297 3 weeks week NOUN cblr-1731 297 4 later later ADV cblr-1731 297 5 , , PUNCT cblr-1731 297 6 berkshire berkshire PROPN cblr-1731 297 7 publicized publicize VERB cblr-1731 297 8 a a DET cblr-1731 297 9 rebuttal rebuttal NOUN cblr-1731 297 10 , , PUNCT cblr-1731 297 11 asserting assert VERB cblr-1731 297 12 “ " PUNCT cblr-1731 297 13 bias bias NOUN cblr-1731 297 14 and and CCONJ cblr-1731 297 15 lack lack NOUN cblr-1731 297 16 of of ADP cblr-1731 297 17 professionalism professionalism NOUN cblr-1731 297 18 ” " PUNCT cblr-1731 297 19 in in ADP cblr-1731 297 20 the the DET cblr-1731 297 21 report.70 report.70 PROPN cblr-1731 297 22 examples example NOUN cblr-1731 297 23 : : PUNCT cblr-1731 297 24 the the DET cblr-1731 297 25 piece piece NOUN cblr-1731 297 26 wrongly wrongly ADV cblr-1731 297 27 suggested suggest VERB cblr-1731 297 28 berkshire berkshire PROPN cblr-1731 297 29 controlled control VERB cblr-1731 297 30 the the DET cblr-1731 297 31 defense defense NOUN cblr-1731 297 32 of of ADP cblr-1731 297 33 an an DET cblr-1731 297 34 asbestos asbestos NOUN cblr-1731 297 35 case case NOUN cblr-1731 297 36 when when SCONJ cblr-1731 297 37 the the DET cblr-1731 297 38 corporate corporate ADJ cblr-1731 297 39 defendant defendant NOUN cblr-1731 297 40 did do VERB cblr-1731 297 41 , , PUNCT cblr-1731 297 42 incorrectly incorrectly ADV cblr-1731 297 43 insinuated insinuate VERB cblr-1731 297 44 that that SCONJ cblr-1731 297 45 berkshire berkshire NOUN cblr-1731 297 46 unreasonably unreasonably ADV cblr-1731 297 47 resists resist VERB cblr-1731 297 48 settling settle VERB cblr-1731 297 49 cases case NOUN cblr-1731 297 50 by by ADP cblr-1731 297 51 focusing focus VERB cblr-1731 297 52 on on ADP cblr-1731 297 53 100 100 NUM cblr-1731 297 54 % % NOUN cblr-1731 297 55 of of ADP cblr-1731 297 56 the the DET cblr-1731 297 57 amount amount NOUN cblr-1731 297 58 a a DET cblr-1731 297 59 plaintiff plaintiff NOUN cblr-1731 297 60 sought seek VERB cblr-1731 297 61 rather rather ADV cblr-1731 297 62 than than ADP cblr-1731 297 63 berkshire berkshire NOUN cblr-1731 297 64 ’s ’s PART cblr-1731 297 65 fractional fractional ADJ cblr-1731 297 66 share share NOUN cblr-1731 297 67 among among ADP cblr-1731 297 68 multiple multiple ADJ cblr-1731 297 69 defendants defendant NOUN cblr-1731 297 70 , , PUNCT cblr-1731 297 71 and and CCONJ cblr-1731 297 72 credited credit VERB cblr-1731 297 73 critical critical ADJ cblr-1731 297 74 comments comment NOUN cblr-1731 297 75 of of ADP cblr-1731 297 76 an an DET cblr-1731 297 77 insurance insurance NOUN cblr-1731 297 78 claims claim NOUN cblr-1731 297 79 executive executive NOUN cblr-1731 297 80 without without ADP cblr-1731 297 81 appreciating appreciate VERB cblr-1731 297 82 potential potential ADJ cblr-1731 297 83 bias bias NOUN cblr-1731 297 84 from from ADP cblr-1731 297 85 his his PRON cblr-1731 297 86 involvement involvement NOUN cblr-1731 297 87 in in ADP cblr-1731 297 88 disputes dispute NOUN cblr-1731 297 89 with with ADP cblr-1731 297 90 berkshire.71 berkshire.71 NOUN cblr-1731 297 91 despite despite SCONJ cblr-1731 297 92 berkshire berkshire NOUN cblr-1731 297 93 ’s ’s PART cblr-1731 297 94 refutation refutation NOUN cblr-1731 297 95 , , PUNCT cblr-1731 297 96 such such ADJ cblr-1731 297 97 allegations allegation NOUN cblr-1731 297 98 reach reach VERB cblr-1731 297 99 the the DET cblr-1731 297 100 public public NOUN cblr-1731 297 101 and and CCONJ cblr-1731 297 102 resonate resonate VERB cblr-1731 297 103 with with ADP cblr-1731 297 104 it it PRON cblr-1731 297 105 . . PUNCT cblr-1731 298 1 it it PRON cblr-1731 298 2 is be AUX cblr-1731 298 3 one one NUM cblr-1731 298 4 way way NOUN cblr-1731 298 5 corporate corporate ADJ cblr-1731 298 6 reputations reputation NOUN cblr-1731 298 7 are be AUX cblr-1731 298 8 shaped shape VERB cblr-1731 298 9 . . PUNCT cblr-1731 299 1 and and CCONJ cblr-1731 299 2 the the DET cblr-1731 299 3 story story NOUN cblr-1731 299 4 continued continue VERB cblr-1731 299 5 to to PART cblr-1731 299 6 have have VERB cblr-1731 299 7 legs leg NOUN cblr-1731 299 8 . . PUNCT cblr-1731 300 1 in in ADP cblr-1731 300 2 january january PROPN cblr-1731 300 3 2014 2014 NUM cblr-1731 300 4 , , PUNCT cblr-1731 300 5 a a DET cblr-1731 300 6 lawyer lawyer NOUN cblr-1731 300 7 from from ADP cblr-1731 300 8 k&l k&l PROPN cblr-1731 300 9 gates gate NOUN cblr-1731 300 10 collated collate VERB cblr-1731 300 11 the the DET cblr-1731 300 12 cases case NOUN cblr-1731 300 13 in in ADP cblr-1731 300 14 a a DET cblr-1731 300 15 presentation presentation NOUN cblr-1731 300 16 to to ADP cblr-1731 300 17 the the DET cblr-1731 300 18 american american PROPN cblr-1731 300 19 bar bar PROPN cblr-1731 300 20 association.72 association.72 NOUN cblr-1731 300 21 it it PRON cblr-1731 300 22 is be AUX cblr-1731 300 23 not not PART cblr-1731 300 24 obvious obvious ADJ cblr-1731 300 25 that that SCONJ cblr-1731 300 26 berkshire berkshire NOUN cblr-1731 300 27 would would AUX cblr-1731 300 28 have have AUX cblr-1731 300 29 done do VERB cblr-1731 300 30 better well ADV cblr-1731 300 31 with with ADP cblr-1731 300 32 a a DET cblr-1731 300 33 more more ADV cblr-1731 300 34 traditional traditional ADJ cblr-1731 300 35 public public ADJ cblr-1731 300 36 relations relation NOUN cblr-1731 300 37 department department NOUN cblr-1731 300 38 . . PUNCT cblr-1731 301 1 after after ADV cblr-1731 301 2 all all ADV cblr-1731 301 3 , , PUNCT cblr-1731 301 4 other other ADJ cblr-1731 301 5 69 69 NUM cblr-1731 301 6 press press NOUN cblr-1731 301 7 release release NOUN cblr-1731 301 8 , , PUNCT cblr-1731 301 9 berkshire berkshire PROPN cblr-1731 301 10 hathaway hathaway PROPN cblr-1731 301 11 inc inc PROPN cblr-1731 301 12 . . PROPN cblr-1731 302 1 ( ( PUNCT cblr-1731 302 2 oct oct PROPN cblr-1731 302 3 . . PROPN cblr-1731 302 4 31 31 NUM cblr-1731 302 5 , , PUNCT cblr-1731 302 6 2013 2013 NUM cblr-1731 302 7 ) ) PUNCT cblr-1731 302 8 , , PUNCT cblr-1731 302 9 http://www.berkshirehathaway.com/news/oct3113.pdf http://www.berkshirehathaway.com/news/oct3113.pdf PUNCT cblr-1731 303 1 [ [ X cblr-1731 303 2 http://perma.cc/ht http://perma.cc/ht NOUN cblr-1731 303 3 42 42 NUM cblr-1731 303 4 - - PUNCT cblr-1731 303 5 vu6j vu6j NOUN cblr-1731 303 6 ] ] PUNCT cblr-1731 303 7 . . PUNCT cblr-1731 304 1 70 70 NUM cblr-1731 305 1 i i PRON cblr-1731 305 2 d. d. PROPN cblr-1731 305 3 71 71 NUM cblr-1731 305 4 i i PRON cblr-1731 305 5 d. d. PROPN cblr-1731 305 6 berkshire berkshire PROPN cblr-1731 305 7 stressed stress VERB cblr-1731 305 8 that that SCONJ cblr-1731 305 9 its its PRON cblr-1731 305 10 payments payment NOUN cblr-1731 305 11 in in ADP cblr-1731 305 12 this this DET cblr-1731 305 13 business business NOUN cblr-1731 305 14 for for ADP cblr-1731 305 15 claims claim NOUN cblr-1731 305 16 and and CCONJ cblr-1731 305 17 claims claim NOUN cblr-1731 305 18 - - PUNCT cblr-1731 305 19 expenses expense NOUN cblr-1731 305 20 exceeded exceed VERB cblr-1731 305 21 $ $ SYM cblr-1731 305 22 2.4 2.4 NUM cblr-1731 305 23 billion billion NUM cblr-1731 305 24 annually annually ADV cblr-1731 305 25 and and CCONJ cblr-1731 305 26 $ $ SYM cblr-1731 305 27 20 20 NUM cblr-1731 305 28 billion billion NUM cblr-1731 305 29 cumulatively cumulatively ADV cblr-1731 305 30 . . PUNCT cblr-1731 306 1 the the DET cblr-1731 306 2 press press NOUN cblr-1731 306 3 release release NOUN cblr-1731 306 4 references reference NOUN cblr-1731 306 5 berkshire berkshire NOUN cblr-1731 306 6 ’s ’s AUX cblr-1731 306 7 honoring honor VERB cblr-1731 306 8 its its PRON cblr-1731 306 9 multipronged multipronged ADJ cblr-1731 306 10 duties duty NOUN cblr-1731 306 11 to to ADP cblr-1731 306 12 policyholders policyholder NOUN cblr-1731 306 13 , , PUNCT cblr-1731 306 14 insurers insurer NOUN cblr-1731 306 15 and and CCONJ cblr-1731 306 16 reinsurers reinsurer NOUN cblr-1731 306 17 for for ADP cblr-1731 306 18 which which PRON cblr-1731 306 19 it it PRON cblr-1731 306 20 manages manage VERB cblr-1731 306 21 claims claim NOUN cblr-1731 306 22 , , PUNCT cblr-1731 306 23 regulators regulator NOUN cblr-1731 306 24 , , PUNCT cblr-1731 306 25 and and CCONJ cblr-1731 306 26 shareholders shareholder NOUN cblr-1731 306 27 “ " PUNCT cblr-1731 306 28 who who PRON cblr-1731 306 29 expect expect VERB cblr-1731 306 30 us we PRON cblr-1731 306 31 to to PART cblr-1731 306 32 operate operate VERB cblr-1731 306 33 well well ADV cblr-1731 306 34 above above ADP cblr-1731 306 35 any any DET cblr-1731 306 36 minimum minimum ADJ cblr-1731 306 37 standards standard NOUN cblr-1731 306 38 of of ADP cblr-1731 306 39 practice practice NOUN cblr-1731 306 40 for for ADP cblr-1731 306 41 our our PRON cblr-1731 306 42 business business NOUN cblr-1731 306 43 . . PUNCT cblr-1731 306 44 ” " PUNCT cblr-1731 306 45 berkshire berkshire PROPN cblr-1731 306 46 also also ADV cblr-1731 306 47 noted note VERB cblr-1731 306 48 winning win VERB cblr-1731 306 49 respect respect NOUN cblr-1731 306 50 from from ADP cblr-1731 306 51 all all DET cblr-1731 306 52 such such ADJ cblr-1731 306 53 constituencies constituency NOUN cblr-1731 306 54 , , PUNCT cblr-1731 306 55 and and CCONJ cblr-1731 306 56 awards award NOUN cblr-1731 306 57 from from ADP cblr-1731 306 58 peers peer NOUN cblr-1731 306 59 and and CCONJ cblr-1731 306 60 industry industry NOUN cblr-1731 306 61 trade trade NOUN cblr-1731 306 62 groups group NOUN cblr-1731 306 63 . . 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PUNCT cblr-1731 308 1 berkshire berkshire PROPN cblr-1731 308 2 stressed stress VERB cblr-1731 308 3 that that SCONJ cblr-1731 308 4 though though SCONJ cblr-1731 308 5 it it PRON cblr-1731 308 6 disfavors disfavor VERB cblr-1731 308 7 public public ADJ cblr-1731 308 8 comments comment NOUN cblr-1731 308 9 on on ADP cblr-1731 308 10 pending pende VERB cblr-1731 308 11 cases case NOUN cblr-1731 308 12 , , PUNCT cblr-1731 308 13 it it PRON cblr-1731 308 14 felt feel VERB cblr-1731 308 15 constrained constrain VERB cblr-1731 308 16 to to PART cblr-1731 308 17 do do VERB cblr-1731 308 18 so so ADV cblr-1731 308 19 to to PART cblr-1731 308 20 defend defend VERB cblr-1731 308 21 against against ADP cblr-1731 308 22 a a DET cblr-1731 308 23 report report NOUN cblr-1731 308 24 that that PRON cblr-1731 308 25 seemed seem VERB cblr-1731 308 26 calculated calculate VERB cblr-1731 308 27 to to PART cblr-1731 308 28 influence influence VERB cblr-1731 308 29 those those DET cblr-1731 308 30 cases case NOUN cblr-1731 308 31 . . 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PROPN cblr-1731 310 6 2014 2014 NUM cblr-1731 310 7 ) ) PUNCT cblr-1731 310 8 , , PUNCT cblr-1731 310 9 http://www.americanbar.org/content/dam/aba/administrative/litigation/ma http://www.americanbar.org/content/dam/aba/administrative/litigation/ma ADJ cblr-1731 310 10 terials/2014_inscle_materials terials/2014_inscle_material NOUN cblr-1731 310 11 / / SYM cblr-1731 310 12 written_materials written_material NOUN cblr-1731 310 13 / / SYM cblr-1731 310 14 b14_2_policyholder_litigat b14_2_policyholder_litigat PROPN cblr-1731 310 15 ion_involving_claims.authcheckdam.pdf ion_involving_claims.authcheckdam.pdf PROPN cblr-1731 311 1 [ [ X cblr-1731 311 2 https://perma.cc/hg7k-sygh https://perma.cc/hg7k-sygh X cblr-1731 311 3 ] ] X cblr-1731 311 4 . . PUNCT cblr-1731 312 1 cunningham cunningham PROPN cblr-1731 312 2 – – PUNCT cblr-1731 312 3 final final ADJ cblr-1731 312 4 no no NOUN cblr-1731 312 5 . . NOUN cblr-1731 312 6 1:1 1:1 NUM cblr-1731 312 7 ] ] PUNCT cblr-1731 312 8 berkshire berkshire PROPN cblr-1731 312 9 ’s ’s PART cblr-1731 312 10 blemishes blemish NOUN cblr-1731 312 11 27 27 NUM cblr-1731 312 12 insurers insurer NOUN cblr-1731 312 13 such such ADJ cblr-1731 312 14 as as ADP cblr-1731 312 15 aig aig PROPN cblr-1731 312 16 have have AUX cblr-1731 312 17 also also ADV cblr-1731 312 18 been be AUX cblr-1731 312 19 accused accuse VERB cblr-1731 312 20 of of ADP cblr-1731 312 21 slow slow ADJ cblr-1731 312 22 - - PUNCT cblr-1731 312 23 pay pay NOUN cblr-1731 312 24 and and CCONJ cblr-1731 312 25 no no DET cblr-1731 312 26 - - PUNCT cblr-1731 312 27 pay pay NOUN cblr-1731 312 28 practices.73 practices.73 NOUN cblr-1731 312 29 but but CCONJ cblr-1731 312 30 the the DET cblr-1731 312 31 interaction interaction NOUN cblr-1731 312 32 between between ADP cblr-1731 312 33 greenblatt greenblatt PROPN cblr-1731 312 34 and and CCONJ cblr-1731 312 35 the the DET cblr-1731 312 36 company company NOUN cblr-1731 312 37 was be AUX cblr-1731 312 38 partial partial ADJ cblr-1731 312 39 , , PUNCT cblr-1731 312 40 as as SCONJ cblr-1731 312 41 the the DET cblr-1731 312 42 berkshire berkshire NOUN cblr-1731 312 43 executives executive NOUN cblr-1731 312 44 reached reach VERB cblr-1731 312 45 by by ADP cblr-1731 312 46 greenblatt greenblatt PROPN cblr-1731 312 47 regarded regard VERB cblr-1731 312 48 their their PRON cblr-1731 312 49 insurance insurance NOUN cblr-1731 312 50 business business NOUN cblr-1731 312 51 duties duty NOUN cblr-1731 312 52 as as ADP cblr-1731 312 53 more more ADV cblr-1731 312 54 important important ADJ cblr-1731 312 55 than than ADP cblr-1731 312 56 complete complete ADJ cblr-1731 312 57 engagement engagement NOUN cblr-1731 312 58 with with ADP cblr-1731 312 59 the the DET cblr-1731 312 60 reporter reporter NOUN cblr-1731 312 61 . . PUNCT cblr-1731 313 1 a a DET cblr-1731 313 2 full full ADJ cblr-1731 313 3 - - PUNCT cblr-1731 313 4 time time NOUN cblr-1731 313 5 professional professional NOUN cblr-1731 313 6 who who PRON cblr-1731 313 7 makes make VERB cblr-1731 313 8 such such ADJ cblr-1731 313 9 engagement engagement NOUN cblr-1731 313 10 a a DET cblr-1731 313 11 top top ADJ cblr-1731 313 12 priority priority NOUN cblr-1731 313 13 would would AUX cblr-1731 313 14 have have AUX cblr-1731 313 15 formulated formulate VERB cblr-1731 313 16 a a DET cblr-1731 313 17 comprehensive comprehensive ADJ cblr-1731 313 18 assessment assessment NOUN cblr-1731 313 19 ahead ahead ADV cblr-1731 313 20 of of ADP cblr-1731 313 21 publication publication NOUN cblr-1731 313 22 , , PUNCT cblr-1731 313 23 contributing contribute VERB cblr-1731 313 24 to to ADP cblr-1731 313 25 shaping shape VERB cblr-1731 313 26 the the DET cblr-1731 313 27 original original ADJ cblr-1731 313 28 story story NOUN cblr-1731 313 29 . . 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PUNCT cblr-1731 315 1 berkshire berkshire NOUN cblr-1731 315 2 acts act VERB cblr-1731 315 3 as as SCONJ cblr-1731 315 4 if if SCONJ cblr-1731 315 5 it it PRON cblr-1731 315 6 is be AUX cblr-1731 315 7 small small ADJ cblr-1731 315 8 , , PUNCT cblr-1731 315 9 but but CCONJ cblr-1731 315 10 it it PRON cblr-1731 315 11 is be AUX cblr-1731 315 12 a a DET cblr-1731 315 13 goliath goliath NOUN cblr-1731 315 14 to to ADP cblr-1731 315 15 reporters reporter NOUN cblr-1731 315 16 and and CCONJ cblr-1731 315 17 readers reader NOUN cblr-1731 315 18 alike alike ADV cblr-1731 315 19 . . PUNCT cblr-1731 316 1 berkshire berkshire PROPN cblr-1731 316 2 and and CCONJ cblr-1731 316 3 several several ADJ cblr-1731 316 4 of of ADP cblr-1731 316 5 its its PRON cblr-1731 316 6 subsidiaries subsidiary NOUN cblr-1731 316 7 often often ADV cblr-1731 316 8 also also ADV cblr-1731 316 9 make make VERB cblr-1731 316 10 for for ADP cblr-1731 316 11 good good ADJ cblr-1731 316 12 political political ADJ cblr-1731 316 13 targets target NOUN cblr-1731 316 14 , , PUNCT cblr-1731 316 15 as as SCONJ cblr-1731 316 16 evidenced evidence VERB cblr-1731 316 17 by by ADP cblr-1731 316 18 a a DET cblr-1731 316 19 campaign campaign NOUN cblr-1731 316 20 launched launch VERB cblr-1731 316 21 against against ADP cblr-1731 316 22 clayton clayton PROPN cblr-1731 316 23 homes home NOUN cblr-1731 316 24 on on ADP cblr-1731 316 25 april april PROPN cblr-1731 316 26 3 3 NUM cblr-1731 316 27 , , PUNCT cblr-1731 316 28 2015 2015 NUM cblr-1731 316 29 by by ADP cblr-1731 316 30 daniel daniel PROPN cblr-1731 316 31 wagner wagner PROPN cblr-1731 316 32 and and CCONJ cblr-1731 316 33 mike mike PROPN cblr-1731 317 1 baker.74 baker.74 PROPN cblr-1731 317 2 writing write VERB cblr-1731 317 3 a a DET cblr-1731 317 4 piece piece NOUN cblr-1731 317 5 sponsored sponsor VERB cblr-1731 317 6 by by ADP cblr-1731 317 7 the the DET cblr-1731 317 8 center center NOUN cblr-1731 317 9 for for ADP cblr-1731 317 10 public public ADJ cblr-1731 317 11 integrity integrity NOUN cblr-1731 317 12 in in ADP cblr-1731 317 13 the the DET cblr-1731 317 14 seattle seattle PROPN cblr-1731 317 15 times times PROPN cblr-1731 317 16 , , PUNCT cblr-1731 317 17 they they PRON cblr-1731 317 18 alleged allege VERB cblr-1731 317 19 that that SCONJ cblr-1731 317 20 clayton clayton PROPN cblr-1731 317 21 ’s ’s PART cblr-1731 317 22 sales sale NOUN cblr-1731 317 23 team team NOUN cblr-1731 317 24 channeled channel VERB cblr-1731 317 25 buyers buyer NOUN cblr-1731 317 26 into into ADP cblr-1731 317 27 dubious dubious ADJ cblr-1731 317 28 mortgages mortgage NOUN cblr-1731 317 29 : : PUNCT cblr-1731 317 30 customers customer NOUN cblr-1731 317 31 were be AUX cblr-1731 317 32 offered offer VERB cblr-1731 317 33 few few ADJ cblr-1731 317 34 or or CCONJ cblr-1731 317 35 no no PRON cblr-1731 317 36 alternative alternative ADJ cblr-1731 317 37 financing financing NOUN cblr-1731 317 38 options option NOUN cblr-1731 317 39 , , PUNCT cblr-1731 317 40 terms term NOUN cblr-1731 317 41 were be AUX cblr-1731 317 42 seductive seductive ADJ cblr-1731 317 43 ( ( PUNCT cblr-1731 317 44 including include VERB cblr-1731 317 45 low low ADJ cblr-1731 317 46 downpayment downpayment NOUN cblr-1731 317 47 requirements requirement NOUN cblr-1731 317 48 ) ) PUNCT cblr-1731 317 49 , , PUNCT cblr-1731 317 50 defaults default NOUN cblr-1731 317 51 and and CCONJ cblr-1731 317 52 foreclosures foreclosure NOUN cblr-1731 317 53 were be AUX cblr-1731 317 54 high high ADJ cblr-1731 317 55 , , PUNCT cblr-1731 317 56 and and CCONJ cblr-1731 317 57 collection collection NOUN cblr-1731 317 58 practices practice NOUN cblr-1731 317 59 were be AUX cblr-1731 317 60 aggressive aggressive ADJ cblr-1731 317 61 , , PUNCT cblr-1731 317 62 the the DET cblr-1731 317 63 authors author NOUN cblr-1731 317 64 asserted.75 asserted.75 PROPN cblr-1731 317 65 73 73 NUM cblr-1731 317 66 see see VERB cblr-1731 317 67 , , PUNCT cblr-1731 317 68 e.g. e.g. ADV cblr-1731 317 69 , , PUNCT cblr-1731 317 70 dean dean PROPN cblr-1731 317 71 starkman starkman NOUN cblr-1731 317 72 , , PUNCT cblr-1731 317 73 aig aig PROPN cblr-1731 317 74 ’s ’s PART cblr-1731 317 75 other other ADJ cblr-1731 317 76 reputation reputation NOUN cblr-1731 317 77 : : PUNCT cblr-1731 317 78 some some DET cblr-1731 317 79 customers customer NOUN cblr-1731 317 80 say say VERB cblr-1731 317 81 the the DET cblr-1731 317 82 insurance insurance NOUN cblr-1731 317 83 giant giant NOUN cblr-1731 317 84 is be AUX cblr-1731 317 85 too too ADV cblr-1731 317 86 reluctant reluctant ADJ cblr-1731 317 87 to to PART cblr-1731 317 88 pay pay VERB cblr-1731 317 89 up up ADP cblr-1731 317 90 , , PUNCT cblr-1731 317 91 wash wash NOUN cblr-1731 317 92 . . PUNCT cblr-1731 318 1 post post NOUN cblr-1731 318 2 ( ( PUNCT cblr-1731 318 3 aug aug PROPN cblr-1731 318 4 . . PROPN cblr-1731 318 5 21 21 NUM cblr-1731 318 6 , , PUNCT cblr-1731 318 7 2005 2005 NUM cblr-1731 318 8 ) ) PUNCT cblr-1731 318 9 , , PUNCT cblr-1731 318 10 http://www.washingtonpost.com/wp-dyn/content/article/2005/08/20/ http://www.washingtonpost.com/wp-dyn/content/article/2005/08/20/ VERB cblr-1731 318 11 ar2005082000179.html ar2005082000179.html PROPN cblr-1731 319 1 [ [ X cblr-1731 319 2 http://perma.cc/v4af-w36k http://perma.cc/v4af-w36k NOUN cblr-1731 319 3 ] ] PUNCT cblr-1731 319 4 . . PUNCT cblr-1731 320 1 74 74 NUM cblr-1731 320 2 daniel daniel PROPN cblr-1731 320 3 wagner wagner PROPN cblr-1731 320 4 & & CCONJ cblr-1731 320 5 mike mike PROPN cblr-1731 320 6 baker baker PROPN cblr-1731 320 7 , , PUNCT cblr-1731 320 8 warren warren PROPN cblr-1731 320 9 buffett buffett PROPN cblr-1731 320 10 ’s ’s PART cblr-1731 320 11 mobile mobile PROPN cblr-1731 320 12 home home NOUN cblr-1731 320 13 empire empire NOUN cblr-1731 320 14 preys prey VERB cblr-1731 320 15 on on ADP cblr-1731 320 16 the the DET cblr-1731 320 17 poor poor ADJ cblr-1731 320 18 , , PUNCT cblr-1731 320 19 ctr ctr PROPN cblr-1731 320 20 . . PROPN cblr-1731 321 1 for for ADP cblr-1731 321 2 pub pub NOUN cblr-1731 321 3 . . PUNCT cblr-1731 322 1 integrity integrity NOUN cblr-1731 322 2 ( ( PUNCT cblr-1731 322 3 apr apr PROPN cblr-1731 322 4 . . PROPN cblr-1731 322 5 6 6 NUM cblr-1731 322 6 , , PUNCT cblr-1731 322 7 2015 2015 NUM cblr-1731 322 8 , , PUNCT cblr-1731 322 9 8:57 8:57 NUM cblr-1731 322 10 pm pm NOUN cblr-1731 322 11 ) ) PUNCT cblr-1731 322 12 , , PUNCT cblr-1731 322 13 http://www.publicintegrity.org/2015/04/03/17024/warren-buffettsmobile-home-empire-preys-poor http://www.publicintegrity.org/2015/04/03/17024/warren-buffettsmobile-home-empire-preys-poor PROPN cblr-1731 323 1 [ [ X cblr-1731 323 2 http://perma.cc/4fhn-cxfs http://perma.cc/4fhn-cxfs PRON cblr-1731 323 3 ] ] X cblr-1731 323 4 . . PUNCT cblr-1731 324 1 75 75 NUM cblr-1731 325 1 i i PRON cblr-1731 325 2 d. d. PROPN cblr-1731 325 3 the the DET cblr-1731 325 4 piece piece NOUN cblr-1731 325 5 called call VERB cblr-1731 325 6 out out ADP cblr-1731 325 7 its its PRON cblr-1731 325 8 own own ADJ cblr-1731 325 9 key key ADJ cblr-1731 325 10 findings finding NOUN cblr-1731 325 11 about about ADP cblr-1731 325 12 clayton clayton PROPN cblr-1731 325 13 homes home NOUN cblr-1731 325 14 : : PUNCT cblr-1731 325 15 using use VERB cblr-1731 325 16 multiple multiple ADJ cblr-1731 325 17 corporate corporate ADJ cblr-1731 325 18 names name NOUN cblr-1731 325 19 to to PART cblr-1731 325 20 make make VERB cblr-1731 325 21 buyers buyer NOUN cblr-1731 325 22 believe believe VERB cblr-1731 325 23 they they PRON cblr-1731 325 24 are be AUX cblr-1731 325 25 shopping shop VERB cblr-1731 325 26 around around ADV cblr-1731 325 27 ; ; PUNCT cblr-1731 325 28 lending lend VERB cblr-1731 325 29 at at ADP cblr-1731 325 30 rates rate NOUN cblr-1731 325 31 exceeding exceed VERB cblr-1731 325 32 fifteen fifteen NUM cblr-1731 325 33 percent percent NOUN cblr-1731 325 34 and and CCONJ cblr-1731 325 35 adding add VERB cblr-1731 325 36 significant significant ADJ cblr-1731 325 37 fees fee NOUN cblr-1731 325 38 ; ; PUNCT cblr-1731 325 39 customers customer NOUN cblr-1731 325 40 complaining complain VERB cblr-1731 325 41 of of ADP cblr-1731 325 42 deception deception NOUN cblr-1731 325 43 and and CCONJ cblr-1731 325 44 predation predation NOUN cblr-1731 325 45 via via ADP cblr-1731 325 46 changes change NOUN cblr-1731 325 47 , , PUNCT cblr-1731 325 48 pressure pressure NOUN cblr-1731 325 49 , , PUNCT cblr-1731 325 50 and and CCONJ cblr-1731 325 51 fees fee NOUN cblr-1731 325 52 ; ; PUNCT cblr-1731 325 53 and and CCONJ cblr-1731 325 54 two two NUM cblr-1731 325 55 former former ADJ cblr-1731 325 56 dealers dealer NOUN cblr-1731 325 57 saying say VERB cblr-1731 325 58 headquarters headquarters NOUN cblr-1731 325 59 pressured pressure VERB cblr-1731 325 60 them they PRON cblr-1731 325 61 into into ADP cblr-1731 325 62 channeling channel VERB cblr-1731 325 63 customers customer NOUN cblr-1731 325 64 to to PART cblr-1731 325 65 borrow borrow VERB cblr-1731 325 66 from from ADP cblr-1731 325 67 clayton clayton PROPN cblr-1731 325 68 despite despite SCONJ cblr-1731 325 69 these these DET cblr-1731 325 70 problems problem NOUN cblr-1731 325 71 . . PUNCT cblr-1731 326 1 cunningham cunningham PROPN cblr-1731 326 2 – – PUNCT cblr-1731 326 3 final final ADJ cblr-1731 326 4 28 28 NUM cblr-1731 326 5 columbia columbia PROPN cblr-1731 326 6 business business NOUN cblr-1731 326 7 law law PROPN cblr-1731 326 8 review review NOUN cblr-1731 327 1 [ [ X cblr-1731 327 2 vol vol NOUN cblr-1731 327 3 . . NOUN cblr-1731 327 4 2016 2016 NUM cblr-1731 327 5 clayton clayton PROPN cblr-1731 327 6 promptly promptly ADV cblr-1731 327 7 issued issue VERB cblr-1731 327 8 a a DET cblr-1731 327 9 response response NOUN cblr-1731 327 10 disagreeing disagree VERB cblr-1731 327 11 with with ADP cblr-1731 327 12 every every DET cblr-1731 327 13 negative negative ADJ cblr-1731 327 14 assertion assertion NOUN cblr-1731 327 15 in in ADP cblr-1731 327 16 the the DET cblr-1731 327 17 piece.76 piece.76 NOUN cblr-1731 327 18 it it PRON cblr-1731 327 19 stressed stress VERB cblr-1731 327 20 its its PRON cblr-1731 327 21 policies policy NOUN cblr-1731 327 22 of of ADP cblr-1731 327 23 customer customer NOUN cblr-1731 327 24 protection protection NOUN cblr-1731 327 25 while while SCONJ cblr-1731 327 26 acknowledging acknowledge VERB cblr-1731 327 27 that that SCONJ cblr-1731 327 28 , , PUNCT cblr-1731 327 29 in in ADP cblr-1731 327 30 a a DET cblr-1731 327 31 minority minority NOUN cblr-1731 327 32 of of ADP cblr-1731 327 33 cases case NOUN cblr-1731 327 34 such such ADJ cblr-1731 327 35 as as ADP cblr-1731 327 36 the the DET cblr-1731 327 37 ones one NOUN cblr-1731 327 38 the the DET cblr-1731 327 39 writers writer NOUN cblr-1731 327 40 portrayed portray VERB cblr-1731 327 41 , , PUNCT cblr-1731 327 42 customers customer NOUN cblr-1731 327 43 facing face VERB cblr-1731 327 44 periodic periodic ADJ cblr-1731 327 45 life life NOUN cblr-1731 327 46 challenges challenge NOUN cblr-1731 327 47 have have VERB cblr-1731 327 48 difficulty difficulty NOUN cblr-1731 327 49 repaying repay VERB cblr-1731 327 50 loans loan NOUN cblr-1731 327 51 and and CCONJ cblr-1731 327 52 may may AUX cblr-1731 327 53 face face VERB cblr-1731 327 54 foreclosure.77 foreclosure.77 NOUN cblr-1731 327 55 the the DET cblr-1731 327 56 authors author NOUN cblr-1731 327 57 responded respond VERB cblr-1731 327 58 with with ADP cblr-1731 327 59 a a DET cblr-1731 327 60 point point NOUN cblr-1731 327 61 - - PUNCT cblr-1731 327 62 by by ADP cblr-1731 327 63 - - PUNCT cblr-1731 327 64 point point NOUN cblr-1731 327 65 rebuttal.78 rebuttal.78 NOUN cblr-1731 327 66 at at ADP cblr-1731 327 67 the the DET cblr-1731 327 68 berkshire berkshire ADJ cblr-1731 327 69 annual annual ADJ cblr-1731 327 70 shareholders shareholder NOUN cblr-1731 327 71 ’ ' PUNCT cblr-1731 327 72 meeting meet VERB cblr-1731 327 73 five five NUM cblr-1731 327 74 weeks week NOUN cblr-1731 327 75 later later ADV cblr-1731 327 76 , , PUNCT cblr-1731 327 77 buffett buffett PROPN cblr-1731 327 78 also also ADV cblr-1731 327 79 repudiated repudiate VERB cblr-1731 327 80 the the DET cblr-1731 327 81 piece piece NOUN cblr-1731 327 82 and and CCONJ cblr-1731 327 83 , , PUNCT cblr-1731 327 84 again again ADV cblr-1731 327 85 , , PUNCT cblr-1731 327 86 one one NUM cblr-1731 327 87 of of ADP cblr-1731 327 88 the the DET cblr-1731 327 89 writers writer NOUN cblr-1731 327 90 responded respond VERB cblr-1731 327 91 with with ADP cblr-1731 327 92 continued continued ADJ cblr-1731 327 93 skepticism.79 skepticism.79 VERB cblr-1731 327 94 the the DET cblr-1731 327 95 real real ADJ cblr-1731 327 96 reasons reason NOUN cblr-1731 327 97 behind behind ADP cblr-1731 327 98 the the DET cblr-1731 327 99 piece piece NOUN cblr-1731 327 100 later later ADV cblr-1731 327 101 emerged emerge VERB cblr-1731 327 102 to to PART cblr-1731 327 103 be be AUX cblr-1731 327 104 more more ADV cblr-1731 327 105 political political ADJ cblr-1731 327 106 than than SCONJ cblr-1731 327 107 first first ADV cblr-1731 327 108 appeared appear VERB cblr-1731 327 109 . . PUNCT cblr-1731 328 1 at at ADP cblr-1731 328 2 the the DET cblr-1731 328 3 time time NOUN cblr-1731 328 4 of of ADP cblr-1731 328 5 the the DET cblr-1731 328 6 report report NOUN cblr-1731 328 7 , , PUNCT cblr-1731 328 8 congress congress PROPN cblr-1731 328 9 had have AUX cblr-1731 328 10 begun begin VERB cblr-1731 328 11 debating debate VERB cblr-1731 328 12 regulations regulation NOUN cblr-1731 328 13 applicable applicable ADJ cblr-1731 328 14 to to AUX cblr-1731 328 15 manufactured manufacture VERB cblr-1731 328 16 housing housing NOUN cblr-1731 328 17 loans.80 loans.80 NOUN cblr-1731 328 18 after after ADP cblr-1731 328 19 the the DET cblr-1731 328 20 financial financial ADJ cblr-1731 328 21 crisis crisis NOUN cblr-1731 328 22 of of ADP cblr-1731 328 23 2008 2008 NUM cblr-1731 328 24 , , PUNCT cblr-1731 328 25 the the DET cblr-1731 328 26 dodd dodd PROPN cblr-1731 328 27 - - PUNCT cblr-1731 328 28 frank frank PROPN cblr-1731 328 29 act act PROPN cblr-1731 328 30 added add VERB cblr-1731 328 31 disclosure disclosure NOUN cblr-1731 328 32 and and CCONJ cblr-1731 328 33 timing timing NOUN cblr-1731 328 34 requirements requirement NOUN cblr-1731 328 35 to to ADP cblr-1731 328 36 such such ADJ cblr-1731 328 37 loans loan NOUN cblr-1731 328 38 bearing bear VERB cblr-1731 328 39 high high ADJ cblr-1731 328 40 interest interest NOUN cblr-1731 328 41 rates rate NOUN cblr-1731 328 42 , , PUNCT cblr-1731 328 43 76 76 NUM cblr-1731 328 44 clayton clayton PROPN cblr-1731 328 45 homes home NOUN cblr-1731 328 46 statement statement NOUN cblr-1731 328 47 on on ADP cblr-1731 328 48 mobile mobile ADJ cblr-1731 328 49 - - PUNCT cblr-1731 328 50 home home NOUN cblr-1731 328 51 buyer buyer NOUN cblr-1731 328 52 investigation investigation NOUN cblr-1731 328 53 , , PUNCT cblr-1731 328 54 omaha omaha PROPN cblr-1731 328 55 world world PROPN cblr-1731 328 56 - - PUNCT cblr-1731 328 57 herald herald PROPN cblr-1731 328 58 ( ( PUNCT cblr-1731 328 59 apr apr PROPN cblr-1731 328 60 . . PROPN cblr-1731 328 61 3 3 NUM cblr-1731 328 62 , , PUNCT cblr-1731 328 63 2015 2015 NUM cblr-1731 328 64 ) ) PUNCT cblr-1731 328 65 , , PUNCT cblr-1731 328 66 http://www.omaha.com/claytonhomes-statement-on-mobile-home-buyer-investigation/article_7052e0c4da3b-11e4-8abd-5f0b53380837.htmlda3b-11e4-8abd-5f0b53380837.html http://www.omaha.com/claytonhomes-statement-on-mobile-home-buyer-investigation/article_7052e0c4da3b-11e4-8abd-5f0b53380837.htmlda3b-11e4-8abd-5f0b53380837.html PUNCT cblr-1731 329 1 [ [ X cblr-1731 329 2 http://perma.cc/hc9l-64dp http://perma.cc/hc9l-64dp X cblr-1731 329 3 ] ] X cblr-1731 329 4 . . PUNCT cblr-1731 330 1 77 77 NUM cblr-1731 331 1 i i PRON cblr-1731 331 2 d. d. PROPN cblr-1731 331 3 78 78 NUM cblr-1731 331 4 daniel daniel PROPN cblr-1731 331 5 wagner wagner PROPN cblr-1731 331 6 & & CCONJ cblr-1731 331 7 mike mike PROPN cblr-1731 331 8 baker baker PROPN cblr-1731 331 9 , , PUNCT cblr-1731 331 10 a a DET cblr-1731 331 11 look look NOUN cblr-1731 331 12 at at ADP cblr-1731 331 13 berkshire berkshire PROPN cblr-1731 331 14 hathaway hathaway PROPN cblr-1731 331 15 ’s ’s PART cblr-1731 331 16 response response NOUN cblr-1731 331 17 to to ADP cblr-1731 331 18 ‘ ' PUNCT cblr-1731 331 19 mobile mobile ADJ cblr-1731 331 20 home home NOUN cblr-1731 331 21 trap trap NOUN cblr-1731 331 22 ’ ' PUNCT cblr-1731 331 23 investigation investigation NOUN cblr-1731 331 24 , , PUNCT cblr-1731 331 25 ctr ctr PROPN cblr-1731 331 26 . . PUNCT cblr-1731 332 1 for for ADP cblr-1731 332 2 pub pub NOUN cblr-1731 332 3 . . PUNCT cblr-1731 333 1 integrity integrity NOUN cblr-1731 333 2 ( ( PUNCT cblr-1731 333 3 apr apr PROPN cblr-1731 333 4 . . PROPN cblr-1731 333 5 7 7 NUM cblr-1731 333 6 , , PUNCT cblr-1731 333 7 2015 2015 NUM cblr-1731 333 8 , , PUNCT cblr-1731 333 9 9:12 9:12 NUM cblr-1731 333 10 am am NOUN cblr-1731 333 11 ) ) PUNCT cblr-1731 333 12 , , PUNCT cblr-1731 333 13 http://www.publicintegrity.org/2015/04/06/17081/ http://www.publicintegrity.org/2015/04/06/17081/ NOUN cblr-1731 333 14 look look NOUN cblr-1731 333 15 - - PUNCT cblr-1731 333 16 berkshire berkshire NOUN cblr-1731 333 17 - - PUNCT cblr-1731 333 18 hathaways hathaway NOUN cblr-1731 333 19 - - PUNCT cblr-1731 333 20 response response NOUN cblr-1731 333 21 - - PUNCT cblr-1731 333 22 mobile mobile NOUN cblr-1731 333 23 - - PUNCT cblr-1731 333 24 home home NOUN cblr-1731 333 25 - - PUNCT cblr-1731 333 26 trap trap NOUN cblr-1731 333 27 - - PUNCT cblr-1731 333 28 investigation investigation NOUN cblr-1731 333 29 [ [ X cblr-1731 333 30 http://perma.cc/y72j-vuyx http://perma.cc/y72j-vuyx PROPN cblr-1731 333 31 ] ] PUNCT cblr-1731 333 32 . . PUNCT cblr-1731 334 1 79 79 NUM cblr-1731 334 2 mike mike PROPN cblr-1731 334 3 baker baker PROPN cblr-1731 334 4 , , PUNCT cblr-1731 334 5 buffett buffett PROPN cblr-1731 334 6 sticks stick VERB cblr-1731 334 7 up up ADP cblr-1731 334 8 for for ADP cblr-1731 334 9 mobile mobile ADJ cblr-1731 334 10 - - PUNCT cblr-1731 334 11 home home NOUN cblr-1731 334 12 business business NOUN cblr-1731 334 13 at at ADP cblr-1731 334 14 shareholder shareholder NOUN cblr-1731 334 15 meeting meeting NOUN cblr-1731 334 16 , , PUNCT cblr-1731 334 17 seattle seattle PROPN cblr-1731 334 18 times times PROPN cblr-1731 334 19 ( ( PUNCT cblr-1731 334 20 may may PROPN cblr-1731 334 21 2 2 NUM cblr-1731 334 22 , , PUNCT cblr-1731 334 23 2015 2015 NUM cblr-1731 334 24 ) ) PUNCT cblr-1731 334 25 , , PUNCT cblr-1731 334 26 http://www http://www PROPN cblr-1731 334 27 . . PROPN cblr-1731 334 28 seattletimes.com/business/real-estate/buffett-sticks-up-for-mobile-homebusiness-at-shareholder-meeting/ seattletimes.com/business/real-estate/buffett-sticks-up-for-mobile-homebusiness-at-shareholder-meeting/ PROPN cblr-1731 335 1 [ [ X cblr-1731 335 2 http://perma.cc/7q3a-4cgy http://perma.cc/7q3a-4cgy X cblr-1731 335 3 ] ] X cblr-1731 335 4 . . PUNCT cblr-1731 336 1 all all DET cblr-1731 336 2 the the DET cblr-1731 336 3 claims claim NOUN cblr-1731 336 4 contradict contradict VERB cblr-1731 336 5 everything everything PRON cblr-1731 336 6 clayton clayton PROPN cblr-1731 336 7 homes home NOUN cblr-1731 336 8 stands stand VERB cblr-1731 336 9 for for ADP cblr-1731 336 10 , , PUNCT cblr-1731 336 11 as as SCONJ cblr-1731 336 12 i i PRON cblr-1731 336 13 explained explain VERB cblr-1731 336 14 in in ADP cblr-1731 336 15 both both CCONJ cblr-1731 336 16 my my PRON cblr-1731 336 17 book book NOUN cblr-1731 336 18 , , PUNCT cblr-1731 336 19 berkshire berkshire NOUN cblr-1731 336 20 beyond beyond ADP cblr-1731 336 21 buffett buffett PROPN cblr-1731 336 22 , , PUNCT cblr-1731 336 23 and and CCONJ cblr-1731 336 24 in in ADP cblr-1731 336 25 a a DET cblr-1731 336 26 new new PROPN cblr-1731 336 27 york york PROPN cblr-1731 336 28 times times PROPN cblr-1731 336 29 column column NOUN cblr-1731 336 30 several several ADJ cblr-1731 336 31 months month NOUN cblr-1731 336 32 before before ADP cblr-1731 336 33 this this DET cblr-1731 336 34 piece piece NOUN cblr-1731 336 35 — — PUNCT cblr-1731 336 36 a a DET cblr-1731 336 37 column column NOUN cblr-1731 336 38 , , PUNCT cblr-1731 336 39 incidentally incidentally ADV cblr-1731 336 40 , , PUNCT cblr-1731 336 41 which which PRON cblr-1731 336 42 clayton clayton PROPN cblr-1731 336 43 homes home NOUN cblr-1731 336 44 cited cite VERB cblr-1731 336 45 in in ADP cblr-1731 336 46 its its PRON cblr-1731 336 47 response response NOUN cblr-1731 336 48 and and CCONJ cblr-1731 336 49 which which PRON cblr-1731 336 50 the the DET cblr-1731 336 51 writers writer NOUN cblr-1731 336 52 dismissed dismiss VERB cblr-1731 336 53 in in ADP cblr-1731 336 54 rebuttal rebuttal NOUN cblr-1731 336 55 because because SCONJ cblr-1731 336 56 it it PRON cblr-1731 336 57 was be AUX cblr-1731 336 58 written write VERB cblr-1731 336 59 by by ADP cblr-1731 336 60 me i PRON cblr-1731 336 61 , , PUNCT cblr-1731 336 62 whom whom PRON cblr-1731 336 63 they they PRON cblr-1731 336 64 called call VERB cblr-1731 336 65 “ " PUNCT cblr-1731 336 66 a a DET cblr-1731 336 67 longtime longtime NOUN cblr-1731 336 68 buffett buffett PROPN cblr-1731 336 69 acolyte acolyte PROPN cblr-1731 336 70 . . PUNCT cblr-1731 336 71 ” " PUNCT cblr-1731 337 1 wagner wagner PROPN cblr-1731 337 2 & & CCONJ cblr-1731 337 3 baker baker PROPN cblr-1731 337 4 , , PUNCT cblr-1731 337 5 supra supra PROPN cblr-1731 337 6 note note PROPN cblr-1731 337 7 78 78 NUM cblr-1731 337 8 ; ; PUNCT cblr-1731 337 9 lawrence lawrence PROPN cblr-1731 337 10 a. a. PROPN cblr-1731 337 11 cunningham cunningham PROPN cblr-1731 337 12 , , PUNCT cblr-1731 337 13 the the DET cblr-1731 337 14 philosophy philosophy NOUN cblr-1731 337 15 of of ADP cblr-1731 337 16 warren warren PROPN cblr-1731 337 17 e. e. PROPN cblr-1731 337 18 buffett buffett PROPN cblr-1731 337 19 , , PUNCT cblr-1731 337 20 n.y n.y PROPN cblr-1731 337 21 . . PROPN cblr-1731 337 22 times times PROPN cblr-1731 337 23 : : PUNCT cblr-1731 338 1 dealbook dealbook VERB cblr-1731 338 2 ( ( PUNCT cblr-1731 338 3 may may PROPN cblr-1731 338 4 1 1 NUM cblr-1731 338 5 , , PUNCT cblr-1731 338 6 2015 2015 NUM cblr-1731 338 7 ) ) PUNCT cblr-1731 338 8 http://www.nytimes.com/2015/05/02/business/dealbook/the-philosophy-ofwarren-e-buffett.html http://www.nytimes.com/2015/05/02/business/dealbook/the-philosophy-ofwarren-e-buffett.html PUNCT cblr-1731 339 1 [ [ X cblr-1731 339 2 http://perma.cc/cxt4-7s79 http://perma.cc/cxt4-7s79 X cblr-1731 339 3 ] ] X cblr-1731 339 4 . . PUNCT cblr-1731 340 1 80 80 NUM cblr-1731 340 2 see see VERB cblr-1731 340 3 preserving preserve VERB cblr-1731 340 4 access access NOUN cblr-1731 340 5 to to ADP cblr-1731 340 6 manufactured manufacture VERB cblr-1731 340 7 housing housing NOUN cblr-1731 340 8 act act NOUN cblr-1731 340 9 of of ADP cblr-1731 340 10 2015 2015 NUM cblr-1731 340 11 , , PUNCT cblr-1731 340 12 h.r h.r PROPN cblr-1731 340 13 . . PROPN cblr-1731 340 14 650 650 NUM cblr-1731 340 15 , , PUNCT cblr-1731 340 16 114th 114th PROPN cblr-1731 340 17 cong cong NOUN cblr-1731 340 18 . . PUNCT cblr-1731 341 1 ( ( PUNCT cblr-1731 341 2 2015 2015 NUM cblr-1731 341 3 ) ) PUNCT cblr-1731 341 4 . . PUNCT cblr-1731 342 1 cunningham cunningham PROPN cblr-1731 342 2 – – PUNCT cblr-1731 342 3 final final ADJ cblr-1731 342 4 no no NOUN cblr-1731 342 5 . . NOUN cblr-1731 342 6 1:1 1:1 NUM cblr-1731 342 7 ] ] PUNCT cblr-1731 342 8 berkshire berkshire PROPN cblr-1731 342 9 ’s ’s PART cblr-1731 342 10 blemishes blemish NOUN cblr-1731 342 11 29 29 NUM cblr-1731 342 12 which which PRON cblr-1731 342 13 congress congress PROPN cblr-1731 342 14 has have AUX cblr-1731 342 15 been be AUX cblr-1731 342 16 considering consider VERB cblr-1731 342 17 repealing repeal VERB cblr-1731 342 18 as as ADP cblr-1731 342 19 onerous onerous ADJ cblr-1731 342 20 and and CCONJ cblr-1731 342 21 costly costly ADJ cblr-1731 342 22 — — PUNCT cblr-1731 342 23 a a DET cblr-1731 342 24 house house NOUN cblr-1731 342 25 vote vote NOUN cblr-1731 342 26 was be AUX cblr-1731 342 27 set set VERB cblr-1731 342 28 for for ADP cblr-1731 342 29 mid mid PROPN cblr-1731 342 30 - - PROPN cblr-1731 342 31 april.81 april.81 PROPN cblr-1731 342 32 clayton clayton PROPN cblr-1731 342 33 and and CCONJ cblr-1731 342 34 other other ADJ cblr-1731 342 35 industry industry NOUN cblr-1731 342 36 leaders leader NOUN cblr-1731 342 37 supported support VERB cblr-1731 342 38 repeal repeal NOUN cblr-1731 342 39 while while SCONJ cblr-1731 342 40 some some DET cblr-1731 342 41 homeowner homeowner NOUN cblr-1731 342 42 and and CCONJ cblr-1731 342 43 consumer consumer NOUN cblr-1731 342 44 groups group NOUN cblr-1731 342 45 were be AUX cblr-1731 342 46 opposed oppose VERB cblr-1731 342 47 . . PUNCT cblr-1731 343 1 on on ADP cblr-1731 343 2 one one NUM cblr-1731 343 3 side side NOUN cblr-1731 343 4 , , PUNCT cblr-1731 343 5 the the DET cblr-1731 343 6 manufactured manufacture VERB cblr-1731 343 7 housing housing NOUN cblr-1731 343 8 trade trade PROPN cblr-1731 343 9 association association NOUN cblr-1731 343 10 stressed stress VERB cblr-1731 343 11 the the DET cblr-1731 343 12 importance importance NOUN cblr-1731 343 13 of of ADP cblr-1731 343 14 unregulated unregulated ADJ cblr-1731 343 15 access access NOUN cblr-1731 343 16 for for ADP cblr-1731 343 17 lower low ADJ cblr-1731 343 18 income income NOUN cblr-1731 343 19 people people NOUN cblr-1731 343 20 to to ADP cblr-1731 343 21 this this DET cblr-1731 343 22 kind kind NOUN cblr-1731 343 23 of of ADP cblr-1731 343 24 housing housing NOUN cblr-1731 343 25 , , PUNCT cblr-1731 343 26 while while SCONJ cblr-1731 343 27 consumer consumer NOUN cblr-1731 343 28 advocates advocate NOUN cblr-1731 343 29 urged urge VERB cblr-1731 343 30 regulation regulation NOUN cblr-1731 343 31 to to PART cblr-1731 343 32 protect protect VERB cblr-1731 343 33 the the DET cblr-1731 343 34 impecunious impecunious ADJ cblr-1731 343 35 from from ADP cblr-1731 343 36 costly costly ADJ cblr-1731 343 37 housing housing NOUN cblr-1731 343 38 loans.82 loans.82 PROPN cblr-1731 343 39 although although SCONJ cblr-1731 343 40 the the DET cblr-1731 343 41 original original ADJ cblr-1731 343 42 report report NOUN cblr-1731 343 43 did do AUX cblr-1731 343 44 not not PART cblr-1731 343 45 mention mention VERB cblr-1731 343 46 these these DET cblr-1731 343 47 points point NOUN cblr-1731 343 48 , , PUNCT cblr-1731 343 49 the the DET cblr-1731 343 50 writers writer NOUN cblr-1731 343 51 added add VERB cblr-1731 343 52 the the DET cblr-1731 343 53 theme theme NOUN cblr-1731 343 54 in in ADP cblr-1731 343 55 a a DET cblr-1731 343 56 story story NOUN cblr-1731 343 57 in in ADP cblr-1731 343 58 mid mid PROPN cblr-1731 343 59 - - ADJ cblr-1731 343 60 may may AUX cblr-1731 343 61 — — PUNCT cblr-1731 343 62 linking link VERB cblr-1731 343 63 their their PRON cblr-1731 343 64 original original ADJ cblr-1731 343 65 assertions assertion NOUN cblr-1731 343 66 to to ADP cblr-1731 343 67 clayton clayton PROPN cblr-1731 343 68 ’s ’s PART cblr-1731 343 69 incentives incentive NOUN cblr-1731 343 70 in in ADP cblr-1731 343 71 the the DET cblr-1731 343 72 political political ADJ cblr-1731 343 73 debate debate NOUN cblr-1731 343 74 and and CCONJ cblr-1731 343 75 making make VERB cblr-1731 343 76 it it PRON cblr-1731 343 77 clear clear ADJ cblr-1731 343 78 that that SCONJ cblr-1731 343 79 they they PRON cblr-1731 343 80 were be AUX cblr-1731 343 81 on on ADP cblr-1731 343 82 the the DET cblr-1731 343 83 other other ADJ cblr-1731 343 84 side side NOUN cblr-1731 343 85 of of ADP cblr-1731 343 86 that that PRON cblr-1731 343 87 debate.83 debate.83 VERB cblr-1731 343 88 thus thus ADV cblr-1731 343 89 , , PUNCT cblr-1731 343 90 it it PRON cblr-1731 343 91 appears appear VERB cblr-1731 343 92 that that SCONJ cblr-1731 343 93 the the DET cblr-1731 343 94 authors author NOUN cblr-1731 343 95 wrote write VERB cblr-1731 343 96 a a DET cblr-1731 343 97 piece piece NOUN cblr-1731 343 98 of of ADP cblr-1731 343 99 political political ADJ cblr-1731 343 100 advocacy advocacy NOUN cblr-1731 343 101 , , PUNCT cblr-1731 343 102 not not PART cblr-1731 343 103 investigative investigative ADJ cblr-1731 343 104 journalism journalism NOUN cblr-1731 343 105 , , PUNCT cblr-1731 343 106 and and CCONJ cblr-1731 343 107 targeted target VERB cblr-1731 343 108 clayton clayton PROPN cblr-1731 343 109 based base VERB cblr-1731 343 110 on on ADP cblr-1731 343 111 ulterior ulterior ADJ cblr-1731 343 112 motives motive NOUN cblr-1731 343 113 , , PUNCT cblr-1731 343 114 not not PART cblr-1731 343 115 as as ADP cblr-1731 343 116 neutral neutral ADJ cblr-1731 343 117 reporters reporter NOUN cblr-1731 343 118 of of ADP cblr-1731 343 119 facts fact NOUN cblr-1731 343 120 . . PUNCT cblr-1731 344 1 notably notably ADV cblr-1731 344 2 , , PUNCT cblr-1731 344 3 it it PRON cblr-1731 344 4 was be AUX cblr-1731 344 5 also also ADV cblr-1731 344 6 revealed reveal VERB cblr-1731 344 7 that that SCONJ cblr-1731 344 8 one one NUM cblr-1731 344 9 of of ADP cblr-1731 344 10 the the DET cblr-1731 344 11 writers writer NOUN cblr-1731 344 12 , , PUNCT cblr-1731 344 13 wagner wagner PROPN cblr-1731 344 14 , , PUNCT cblr-1731 344 15 had have VERB cblr-1731 344 16 an an DET cblr-1731 344 17 undisclosed undisclosed ADJ cblr-1731 344 18 conflict conflict NOUN cblr-1731 344 19 of of ADP cblr-1731 344 20 interest interest NOUN cblr-1731 344 21 : : PUNCT cblr-1731 344 22 his his PRON cblr-1731 344 23 sister sister NOUN cblr-1731 344 24 was be AUX cblr-1731 344 25 a a DET cblr-1731 344 26 lawyer lawyer NOUN cblr-1731 344 27 representing represent VERB cblr-1731 344 28 plaintiffs plaintiff NOUN cblr-1731 344 29 in in ADP cblr-1731 344 30 lawsuits lawsuit NOUN cblr-1731 344 31 against against ADP cblr-1731 344 32 clayton clayton PROPN cblr-1731 344 33 homes.84 homes.84 PROPN cblr-1731 344 34 if if SCONJ cblr-1731 344 35 clayton clayton PROPN cblr-1731 344 36 ’s ’s PART cblr-1731 344 37 formal formal ADJ cblr-1731 344 38 response response NOUN cblr-1731 344 39 and and CCONJ cblr-1731 344 40 buffett buffett PROPN cblr-1731 344 41 ’s ’s PART cblr-1731 344 42 oral oral ADJ cblr-1731 344 43 comments comment NOUN cblr-1731 344 44 had have AUX cblr-1731 344 45 missed miss VERB cblr-1731 344 46 their their PRON cblr-1731 344 47 mark mark NOUN cblr-1731 344 48 , , PUNCT cblr-1731 344 49 consideration consideration NOUN cblr-1731 344 50 should should AUX cblr-1731 344 51 certainly certainly ADV cblr-1731 344 52 be be AUX cblr-1731 344 53 given give VERB cblr-1731 344 54 to to ADP cblr-1731 344 55 changing change VERB cblr-1731 344 56 berkshire berkshire NOUN cblr-1731 344 57 ’s ’s PART cblr-1731 344 58 lean lean ADJ cblr-1731 344 59 anti anti ADJ cblr-1731 344 60 - - ADJ cblr-1731 344 61 bureaucratic bureaucratic ADJ cblr-1731 344 62 model model NOUN cblr-1731 344 63 to to PART cblr-1731 344 64 add add VERB cblr-1731 344 65 a a DET cblr-1731 344 66 department department NOUN cblr-1731 344 67 of of ADP cblr-1731 344 68 political political ADJ cblr-1731 344 69 or or CCONJ cblr-1731 344 70 public public ADJ cblr-1731 344 71 affairs affair NOUN cblr-1731 344 72 at at ADP cblr-1731 344 73 the the DET cblr-1731 344 74 81 81 NUM cblr-1731 344 75 see see VERB cblr-1731 344 76 i i PROPN cblr-1731 344 77 d. d. PROPN cblr-1731 344 78 ; ; PUNCT cblr-1731 344 79 h.r h.r PROPN cblr-1731 344 80 . . PROPN cblr-1731 344 81 rep rep PROPN cblr-1731 344 82 . . PROPN cblr-1731 345 1 no no PROPN cblr-1731 345 2 . . NOUN cblr-1731 346 1 114 114 NUM cblr-1731 346 2 - - SYM cblr-1731 346 3 53 53 NUM cblr-1731 346 4 , , PUNCT cblr-1731 346 5 at at ADP cblr-1731 346 6 2–3 2–3 NUM cblr-1731 346 7 ( ( PUNCT cblr-1731 346 8 2015 2015 NUM cblr-1731 346 9 ) ) PUNCT cblr-1731 346 10 . . PUNCT cblr-1731 347 1 82 82 NUM cblr-1731 347 2 compare compare NOUN cblr-1731 347 3 jan jan PROPN cblr-1731 347 4 hollingsworth hollingsworth PROPN cblr-1731 347 5 , , PUNCT cblr-1731 347 6 dodd dodd PROPN cblr-1731 347 7 - - PUNCT cblr-1731 347 8 frank frank PROPN cblr-1731 347 9 and and CCONJ cblr-1731 347 10 manufactured manufacture VERB cblr-1731 347 11 home home NOUN cblr-1731 347 12 financing financing NOUN cblr-1731 347 13 : : PUNCT cblr-1731 347 14 the the DET cblr-1731 347 15 place place NOUN cblr-1731 347 16 where where SCONJ cblr-1731 347 17 good good ADJ cblr-1731 347 18 intentions intention NOUN cblr-1731 347 19 and and CCONJ cblr-1731 347 20 unintended unintended ADJ cblr-1731 347 21 consequences consequence NOUN cblr-1731 347 22 collide collide NOUN cblr-1731 347 23 , , PUNCT cblr-1731 347 24 manufactured manufacture VERB cblr-1731 347 25 home home NOUN cblr-1731 347 26 living live VERB cblr-1731 347 27 news news NOUN cblr-1731 347 28 ( ( PUNCT cblr-1731 347 29 may may PROPN cblr-1731 347 30 18 18 NUM cblr-1731 347 31 , , PUNCT cblr-1731 347 32 2015 2015 NUM cblr-1731 347 33 ) ) PUNCT cblr-1731 347 34 , , PUNCT cblr-1731 347 35 http://www.reuters.com/article/2015/05/18/idusngnx5smrmg+1c5+gnw http://www.reuters.com/article/2015/05/18/idusngnx5smrmg+1c5+gnw NOUN cblr-1731 347 36 20150518 20150518 NUM cblr-1731 347 37 [ [ X cblr-1731 347 38 http://perma.cc/sgw3-pwmk http://perma.cc/sgw3-pwmk X cblr-1731 347 39 ] ] PUNCT cblr-1731 347 40 , , PUNCT cblr-1731 347 41 with with ADP cblr-1731 347 42 zach zach PROPN cblr-1731 347 43 carter carter PROPN cblr-1731 347 44 , , PUNCT cblr-1731 347 45 house house PROPN cblr-1731 347 46 republicans republicans PROPN cblr-1731 347 47 hand hand VERB cblr-1731 347 48 warren warren PROPN cblr-1731 347 49 buffett buffett PROPN cblr-1731 347 50 big big PROPN cblr-1731 347 51 win win PROPN cblr-1731 347 52 on on ADP cblr-1731 347 53 expensive expensive ADJ cblr-1731 347 54 loans loan NOUN cblr-1731 347 55 to to ADP cblr-1731 347 56 the the DET cblr-1731 347 57 poor poor ADJ cblr-1731 347 58 , , PUNCT cblr-1731 347 59 huffington huffington PROPN cblr-1731 347 60 post post PROPN cblr-1731 347 61 ( ( PUNCT cblr-1731 347 62 apr apr PROPN cblr-1731 347 63 . . PROPN cblr-1731 347 64 14 14 NUM cblr-1731 347 65 , , PUNCT cblr-1731 347 66 2015 2015 NUM cblr-1731 347 67 ) ) PUNCT cblr-1731 347 68 , , PUNCT cblr-1731 347 69 http://www.huffingtonpost.com/2015/ http://www.huffingtonpost.com/2015/ PROPN cblr-1731 347 70 04/14 04/14 ADV cblr-1731 347 71 / / SYM cblr-1731 347 72 manufactured manufacture VERB cblr-1731 347 73 - - PUNCT cblr-1731 347 74 housing housing NOUN cblr-1731 347 75 - - PUNCT cblr-1731 347 76 republicans_n_7065810.html republicans_n_7065810.html NOUN cblr-1731 347 77 [ [ X cblr-1731 347 78 http://perma http://perma NOUN cblr-1731 347 79 . . PUNCT cblr-1731 347 80 cc cc NOUN cblr-1731 347 81 / / SYM cblr-1731 347 82 vew5 vew5 PROPN cblr-1731 347 83 - - PUNCT cblr-1731 347 84 p8mr p8mr NOUN cblr-1731 347 85 ] ] PUNCT cblr-1731 347 86 . . PUNCT cblr-1731 348 1 83 83 NUM cblr-1731 348 2 mike mike PROPN cblr-1731 348 3 baker baker PROPN cblr-1731 348 4 , , PUNCT cblr-1731 348 5 buffett buffett PROPN cblr-1731 348 6 ’s ’s PART cblr-1731 348 7 mobile mobile ADJ cblr-1731 348 8 - - PUNCT cblr-1731 348 9 home home NOUN cblr-1731 348 10 business business NOUN cblr-1731 348 11 has have VERB cblr-1731 348 12 most most ADJ cblr-1731 348 13 to to PART cblr-1731 348 14 gain gain VERB cblr-1731 348 15 from from ADP cblr-1731 348 16 deregulation deregulation NOUN cblr-1731 348 17 plan plan NOUN cblr-1731 348 18 , , PUNCT cblr-1731 348 19 seattle seattle PROPN cblr-1731 348 20 times times PROPN cblr-1731 348 21 ( ( PUNCT cblr-1731 348 22 may may PROPN cblr-1731 348 23 17 17 NUM cblr-1731 348 24 , , PUNCT cblr-1731 348 25 2015 2015 NUM cblr-1731 348 26 ) ) PUNCT cblr-1731 348 27 , , PUNCT cblr-1731 348 28 http://www http://www PROPN cblr-1731 348 29 . . PROPN cblr-1731 348 30 seattletimes.com/business/real-estate/buffetts-mobile-home-business-hasmost-to-gain-from-deregulation-plan seattletimes.com/business/real-estate/buffetts-mobile-home-business-hasmost-to-gain-from-deregulation-plan PROPN cblr-1731 348 31 [ [ X cblr-1731 348 32 http://perma.cc/gq3y-r743 http://perma.cc/gq3y-r743 X cblr-1731 348 33 ] ] PUNCT cblr-1731 348 34 . . PUNCT cblr-1731 349 1 84 84 NUM cblr-1731 349 2 baker baker PROPN cblr-1731 349 3 , , PUNCT cblr-1731 349 4 supra supra PROPN cblr-1731 349 5 note note PROPN cblr-1731 349 6 79 79 NUM cblr-1731 349 7 . . PUNCT cblr-1731 350 1 cunningham cunningham PROPN cblr-1731 350 2 – – PUNCT cblr-1731 350 3 final final ADJ cblr-1731 350 4 30 30 NUM cblr-1731 350 5 columbia columbia PROPN cblr-1731 350 6 business business NOUN cblr-1731 350 7 law law PROPN cblr-1731 350 8 review review NOUN cblr-1731 350 9 [ [ X cblr-1731 350 10 vol vol NOUN cblr-1731 350 11 . . NOUN cblr-1731 350 12 2016 2016 NUM cblr-1731 350 13 subsidiary subsidiary NOUN cblr-1731 350 14 and/or and/or CCONJ cblr-1731 350 15 parent parent NOUN cblr-1731 350 16 levels.85 levels.85 NOUN cblr-1731 350 17 as as ADP cblr-1731 350 18 with with ADP cblr-1731 350 19 greenblatt greenblatt PROPN cblr-1731 350 20 ’s ’s PART cblr-1731 350 21 nico nico PROPN cblr-1731 350 22 story story NOUN cblr-1731 350 23 , , PUNCT cblr-1731 350 24 the the DET cblr-1731 350 25 reporters reporter NOUN cblr-1731 350 26 said say VERB cblr-1731 350 27 they they PRON cblr-1731 350 28 repeatedly repeatedly ADV cblr-1731 350 29 tried try VERB cblr-1731 350 30 to to PART cblr-1731 350 31 connect connect VERB cblr-1731 350 32 with with ADP cblr-1731 350 33 berkshire berkshire PROPN cblr-1731 350 34 and and CCONJ cblr-1731 350 35 clayton clayton PROPN cblr-1731 350 36 personnel personnel NOUN cblr-1731 350 37 without without ADP cblr-1731 350 38 success86 success86 NOUN cblr-1731 350 39 — — PUNCT cblr-1731 350 40 undoubtedly undoubtedly ADV cblr-1731 350 41 in in ADP cblr-1731 350 42 part part NOUN cblr-1731 350 43 due due ADP cblr-1731 350 44 to to ADP cblr-1731 350 45 how how SCONJ cblr-1731 350 46 berkshire berkshire NOUN cblr-1731 350 47 has have AUX cblr-1731 350 48 no no DET cblr-1731 350 49 public public ADJ cblr-1731 350 50 relations relation NOUN cblr-1731 350 51 personnel personnel NOUN cblr-1731 350 52 . . PUNCT cblr-1731 351 1 also also ADV cblr-1731 351 2 , , PUNCT cblr-1731 351 3 as as ADP cblr-1731 351 4 with with ADP cblr-1731 351 5 the the DET cblr-1731 351 6 nico nico PROPN cblr-1731 351 7 story story NOUN cblr-1731 351 8 , , PUNCT cblr-1731 351 9 it it PRON cblr-1731 351 10 may may AUX cblr-1731 351 11 be be AUX cblr-1731 351 12 more more ADV cblr-1731 351 13 prudent prudent ADJ cblr-1731 351 14 for for SCONJ cblr-1731 351 15 a a DET cblr-1731 351 16 company company NOUN cblr-1731 351 17 of of ADP cblr-1731 351 18 berkshire berkshire NOUN cblr-1731 351 19 ’s ’s PART cblr-1731 351 20 scale scale NOUN cblr-1731 351 21 and and CCONJ cblr-1731 351 22 impact impact NOUN cblr-1731 351 23 to to PART cblr-1731 351 24 maintain maintain VERB cblr-1731 351 25 a a DET cblr-1731 351 26 dedicated dedicated ADJ cblr-1731 351 27 professional professional NOUN cblr-1731 351 28 to to PART cblr-1731 351 29 handle handle VERB cblr-1731 351 30 such such ADJ cblr-1731 351 31 investigative investigative ADJ cblr-1731 351 32 reporting reporting NOUN cblr-1731 351 33 , , PUNCT cblr-1731 351 34 as as ADV cblr-1731 351 35 distasteful distasteful ADJ cblr-1731 351 36 as as SCONJ cblr-1731 351 37 that that PRON cblr-1731 351 38 may may AUX cblr-1731 351 39 be be AUX cblr-1731 351 40 to to ADP cblr-1731 351 41 buffett buffett PROPN cblr-1731 351 42 and and CCONJ cblr-1731 351 43 others other NOUN cblr-1731 351 44 at at ADP cblr-1731 351 45 berkshire.87 berkshire.87 PROPN cblr-1731 351 46 some some DET cblr-1731 351 47 berkshire berkshire NOUN cblr-1731 351 48 subsidiaries subsidiary NOUN cblr-1731 351 49 maintain maintain VERB cblr-1731 351 50 their their PRON cblr-1731 351 51 own own ADJ cblr-1731 351 52 coterie coterie NOUN cblr-1731 351 53 of of ADP cblr-1731 351 54 public public ADJ cblr-1731 351 55 relations relation NOUN cblr-1731 351 56 and and CCONJ cblr-1731 351 57 lobbying lobbying NOUN cblr-1731 351 58 professionals professional NOUN cblr-1731 351 59 . . PUNCT cblr-1731 352 1 visit visit VERB cblr-1731 352 2 the the DET cblr-1731 352 3 web web NOUN cblr-1731 352 4 page page NOUN cblr-1731 352 5 of of ADP cblr-1731 352 6 berkshire berkshire PROPN cblr-1731 352 7 hathaway hathaway PROPN cblr-1731 352 8 energy energy NOUN cblr-1731 352 9 , , PUNCT cblr-1731 352 10 for for ADP cblr-1731 352 11 example example NOUN cblr-1731 352 12 , , PUNCT cblr-1731 352 13 and and CCONJ cblr-1731 352 14 you you PRON cblr-1731 352 15 will will AUX cblr-1731 352 16 read read VERB cblr-1731 352 17 of of ADP cblr-1731 352 18 its its PRON cblr-1731 352 19 involvement involvement NOUN cblr-1731 352 20 at at ADP cblr-1731 352 21 the the DET cblr-1731 352 22 center center NOUN cblr-1731 352 23 of of ADP cblr-1731 352 24 important important ADJ cblr-1731 352 25 national national ADJ cblr-1731 352 26 policy policy NOUN cblr-1731 352 27 debates debate NOUN cblr-1731 352 28 ranging range VERB cblr-1731 352 29 from from ADP cblr-1731 352 30 consumer consumer NOUN cblr-1731 352 31 energy energy NOUN cblr-1731 352 32 prices price NOUN cblr-1731 352 33 to to PART cblr-1731 352 34 climate climate VERB cblr-1731 352 35 change.88 change.88 PROPN cblr-1731 352 36 one one NUM cblr-1731 352 37 proxy proxy NOUN cblr-1731 352 38 for for ADP cblr-1731 352 39 the the DET cblr-1731 352 40 centrality centrality NOUN cblr-1731 352 41 of of ADP cblr-1731 352 42 berkshire berkshire NOUN cblr-1731 352 43 to to ADP cblr-1731 352 44 national national ADJ cblr-1731 352 45 energy energy NOUN cblr-1731 352 46 policy policy NOUN cblr-1731 352 47 is be AUX cblr-1731 352 48 the the DET cblr-1731 352 49 series series NOUN cblr-1731 352 50 of of ADP cblr-1731 352 51 shareholder shareholder NOUN cblr-1731 352 52 proposals proposal NOUN cblr-1731 352 53 in in ADP cblr-1731 352 54 recent recent ADJ cblr-1731 352 55 years year NOUN cblr-1731 352 56 seeking seek VERB cblr-1731 352 57 to to PART cblr-1731 352 58 have have VERB cblr-1731 352 59 berkshire berkshire PROPN cblr-1731 352 60 ’s ’s PART cblr-1731 352 61 board board PROPN cblr-1731 352 62 85 85 NUM cblr-1731 352 63 see see VERB cblr-1731 352 64 cunningham cunningham PROPN cblr-1731 352 65 , , PUNCT cblr-1731 352 66 supra supra PROPN cblr-1731 352 67 note note NOUN cblr-1731 352 68 2 2 NUM cblr-1731 352 69 , , PUNCT cblr-1731 352 70 at at ADP cblr-1731 352 71 18 18 NUM cblr-1731 352 72 . . PUNCT cblr-1731 352 73 86 86 NUM cblr-1731 352 74 wagner wagner PROPN cblr-1731 352 75 & & CCONJ cblr-1731 352 76 baker baker PROPN cblr-1731 352 77 , , PUNCT cblr-1731 352 78 supra supra PROPN cblr-1731 352 79 note note NOUN cblr-1731 352 80 78 78 NUM cblr-1731 352 81 . . PUNCT cblr-1731 353 1 87 87 NUM cblr-1731 353 2 in in ADP cblr-1731 353 3 clayton clayton PROPN cblr-1731 353 4 ’s ’s PART cblr-1731 353 5 case case NOUN cblr-1731 353 6 , , PUNCT cblr-1731 353 7 wagner wagner PROPN cblr-1731 353 8 and and CCONJ cblr-1731 353 9 baker baker PROPN cblr-1731 353 10 continued continue VERB cblr-1731 353 11 their their PRON cblr-1731 353 12 campaign campaign NOUN cblr-1731 353 13 , , PUNCT cblr-1731 353 14 publishing publish VERB cblr-1731 353 15 an an DET cblr-1731 353 16 incendiary incendiary ADJ cblr-1731 353 17 piece piece NOUN cblr-1731 353 18 the the DET cblr-1731 353 19 day day NOUN cblr-1731 353 20 after after ADP cblr-1731 353 21 christmas christmas NOUN cblr-1731 353 22 2015 2015 NUM cblr-1731 353 23 charging charge VERB cblr-1731 353 24 that that SCONJ cblr-1731 353 25 clayton clayton PROPN cblr-1731 353 26 ’s ’s PART cblr-1731 353 27 corporate corporate ADJ cblr-1731 353 28 culture culture NOUN cblr-1731 353 29 is be AUX cblr-1731 353 30 rabidly rabidly ADV cblr-1731 353 31 racist racist ADJ cblr-1731 353 32 . . PUNCT cblr-1731 354 1 see see VERB cblr-1731 354 2 mike mike PROPN cblr-1731 354 3 baker baker PROPN cblr-1731 354 4 & & CCONJ cblr-1731 354 5 dan dan PROPN cblr-1731 354 6 wagner wagner PROPN cblr-1731 354 7 , , PUNCT cblr-1731 354 8 minorities minority NOUN cblr-1731 354 9 exploited exploit VERB cblr-1731 354 10 by by ADP cblr-1731 354 11 warren warren PROPN cblr-1731 354 12 buffett buffett PROPN cblr-1731 354 13 ’s ’s PART cblr-1731 354 14 mobile mobile PROPN cblr-1731 354 15 home home NOUN cblr-1731 354 16 empire empire NOUN cblr-1731 354 17 , , PUNCT cblr-1731 354 18 seattle seattle PROPN cblr-1731 354 19 times times PROPN cblr-1731 354 20 ( ( PUNCT cblr-1731 354 21 dec dec PROPN cblr-1731 354 22 . . PROPN cblr-1731 354 23 26 26 NUM cblr-1731 354 24 , , PUNCT cblr-1731 354 25 2015 2015 NUM cblr-1731 354 26 ) ) PUNCT cblr-1731 354 27 , , PUNCT cblr-1731 354 28 http://www.seattletimes.com/seattlenews/times-watchdog/minorities-exploited-by-warren-buffetts-mobilehome-empire-clayton-homes http://www.seattletimes.com/seattlenews/times-watchdog/minorities-exploited-by-warren-buffetts-mobilehome-empire-clayton-home NOUN cblr-1731 354 29 [ [ X cblr-1731 354 30 http://perma.cc/7yz2-5mmu http://perma.cc/7yz2-5mmu X cblr-1731 354 31 ] ] X cblr-1731 354 32 . . PUNCT cblr-1731 355 1 clayton clayton PROPN cblr-1731 355 2 promptly promptly ADV cblr-1731 355 3 responded respond VERB cblr-1731 355 4 with with ADP cblr-1731 355 5 a a DET cblr-1731 355 6 corporate corporate ADJ cblr-1731 355 7 press press NOUN cblr-1731 355 8 release release NOUN cblr-1731 355 9 repudiating repudiate VERB cblr-1731 355 10 all all DET cblr-1731 355 11 allegations allegation NOUN cblr-1731 355 12 . . PUNCT cblr-1731 356 1 see see VERB cblr-1731 356 2 press press NOUN cblr-1731 356 3 release release NOUN cblr-1731 356 4 , , PUNCT cblr-1731 356 5 clayton clayton PROPN cblr-1731 356 6 homes home NOUN cblr-1731 356 7 , , PUNCT cblr-1731 356 8 reporting reporting NOUN cblr-1731 356 9 mischaracterizes mischaracterize VERB cblr-1731 356 10 clayton clayton PROPN cblr-1731 356 11 homes home NOUN cblr-1731 356 12 ’ ' PUNCT cblr-1731 356 13 treatment treatment NOUN cblr-1731 356 14 of of ADP cblr-1731 356 15 customers customer NOUN cblr-1731 356 16 and and CCONJ cblr-1731 356 17 employees employee NOUN cblr-1731 356 18 ( ( PUNCT cblr-1731 356 19 dec dec PROPN cblr-1731 356 20 . . PROPN cblr-1731 356 21 26 26 NUM cblr-1731 356 22 , , PUNCT cblr-1731 356 23 2015 2015 NUM cblr-1731 356 24 ) ) PUNCT cblr-1731 356 25 , , PUNCT cblr-1731 356 26 http://www.businesswire.com/news/home/20151226005 http://www.businesswire.com/news/home/20151226005 X cblr-1731 356 27 004 004 NUM cblr-1731 356 28 / / SYM cblr-1731 356 29 en en NOUN cblr-1731 356 30 / / SYM cblr-1731 356 31 reporting reporting NOUN cblr-1731 356 32 - - PUNCT cblr-1731 356 33 mischaracterizes mischaracterize VERB cblr-1731 356 34 - - PUNCT cblr-1731 356 35 clayton clayton PROPN cblr-1731 356 36 - - PUNCT cblr-1731 356 37 homes%e2%80%99 homes%e2%80%99 NOUN cblr-1731 356 38 - - PUNCT cblr-1731 356 39 treatme treatme NOUN cblr-1731 356 40 nt nt ADP cblr-1731 356 41 - - PUNCT cblr-1731 356 42 customers customer NOUN cblr-1731 356 43 - - NOUN cblr-1731 356 44 employees employee NOUN cblr-1731 356 45 [ [ X cblr-1731 356 46 http://perma.cc/nx8z-pepy http://perma.cc/nx8z-pepy X cblr-1731 356 47 ] ] PUNCT cblr-1731 356 48 . . PUNCT cblr-1731 357 1 several several ADJ cblr-1731 357 2 democratic democratic ADJ cblr-1731 357 3 members member NOUN cblr-1731 357 4 of of ADP cblr-1731 357 5 the the DET cblr-1731 357 6 u.s u.s PROPN cblr-1731 357 7 . . PROPN cblr-1731 357 8 house house PROPN cblr-1731 357 9 of of ADP cblr-1731 357 10 representatives representatives PROPN cblr-1731 357 11 committee committee PROPN cblr-1731 357 12 on on ADP cblr-1731 357 13 financial financial ADJ cblr-1731 357 14 services service NOUN cblr-1731 357 15 called call VERB cblr-1731 357 16 for for ADP cblr-1731 357 17 a a DET cblr-1731 357 18 federal federal ADJ cblr-1731 357 19 investigation investigation NOUN cblr-1731 357 20 . . PUNCT cblr-1731 358 1 see see VERB cblr-1731 358 2 letter letter NOUN cblr-1731 358 3 from from ADP cblr-1731 358 4 rep rep PROPN cblr-1731 358 5 . . PROPN cblr-1731 358 6 maxine maxine PROPN cblr-1731 358 7 waters water VERB cblr-1731 358 8 et et PROPN cblr-1731 358 9 al al PROPN cblr-1731 358 10 . . PROPN cblr-1731 359 1 to to ADP cblr-1731 359 2 richard richard PROPN cblr-1731 359 3 cordray cordray PROPN cblr-1731 359 4 , , PUNCT cblr-1731 359 5 director director NOUN cblr-1731 359 6 , , PUNCT cblr-1731 359 7 consumer consumer NOUN cblr-1731 359 8 financial financial PROPN cblr-1731 359 9 protection protection PROPN cblr-1731 359 10 bureau bureau PROPN cblr-1731 359 11 , , PUNCT cblr-1731 359 12 and and CCONJ cblr-1731 359 13 hon hon PROPN cblr-1731 359 14 . . PUNCT cblr-1731 360 1 loretta loretta PROPN cblr-1731 360 2 lynch lynch PROPN cblr-1731 360 3 , , PUNCT cblr-1731 360 4 attorney attorney NOUN cblr-1731 360 5 general general NOUN cblr-1731 360 6 ( ( PUNCT cblr-1731 360 7 jan jan PROPN cblr-1731 360 8 . . PROPN cblr-1731 360 9 12 12 NUM cblr-1731 360 10 , , PUNCT cblr-1731 360 11 2016 2016 NUM cblr-1731 360 12 ) ) PUNCT cblr-1731 360 13 , , PUNCT cblr-1731 360 14 http://democrats.financialservices.house.gov/uploadedfiles/01.12 http://democrats.financialservices.house.gov/uploadedfiles/01.12 NOUN cblr-1731 360 15 . . PUNCT cblr-1731 361 1 2016_manufactured_housing_letter_final.pdf 2016_manufactured_housing_letter_final.pdf NUM cblr-1731 361 2 [ [ X cblr-1731 361 3 http://perma.cc/b5pj-2jcc http://perma.cc/b5pj-2jcc PROPN cblr-1731 361 4 ] ] PUNCT cblr-1731 361 5 . . PUNCT cblr-1731 362 1 88 88 NUM cblr-1731 362 2 see see VERB cblr-1731 362 3 berkshire berkshire PROPN cblr-1731 362 4 hathaway hathaway PROPN cblr-1731 362 5 energy energy NOUN cblr-1731 362 6 , , PUNCT cblr-1731 362 7 https://www.berkshirehathaway https://www.berkshirehathaway NOUN cblr-1731 362 8 energyco.com energyco.com X cblr-1731 362 9 [ [ X cblr-1731 362 10 http://perma.cc/9scc-alz6 http://perma.cc/9scc-alz6 NOUN cblr-1731 362 11 ] ] PUNCT cblr-1731 362 12 . . PUNCT cblr-1731 363 1 cunningham cunningham PROPN cblr-1731 363 2 – – PUNCT cblr-1731 363 3 final final ADJ cblr-1731 363 4 no no NOUN cblr-1731 363 5 . . NOUN cblr-1731 363 6 1:1 1:1 NUM cblr-1731 363 7 ] ] PUNCT cblr-1731 363 8 berkshire berkshire PROPN cblr-1731 363 9 ’s ’s PART cblr-1731 363 10 blemishes blemish NOUN cblr-1731 363 11 31 31 NUM cblr-1731 363 12 set set VERB cblr-1731 363 13 air air NOUN cblr-1731 363 14 quality quality NOUN cblr-1731 363 15 goals goal NOUN cblr-1731 363 16 for for ADP cblr-1731 363 17 its its PRON cblr-1731 363 18 utility utility NOUN cblr-1731 363 19 businesses business NOUN cblr-1731 363 20 — — PUNCT cblr-1731 363 21 such such ADJ cblr-1731 363 22 proposals proposal NOUN cblr-1731 363 23 were be AUX cblr-1731 363 24 made make VERB cblr-1731 363 25 in in ADP cblr-1731 363 26 2011 2011 NUM cblr-1731 363 27 , , PUNCT cblr-1731 363 28 2013 2013 NUM cblr-1731 363 29 , , PUNCT cblr-1731 363 30 and and CCONJ cblr-1731 363 31 2014.89 2014.89 NUM cblr-1731 363 32 berkshire berkshire NOUN cblr-1731 363 33 hathaway hathaway PROPN cblr-1731 363 34 energy energy NOUN cblr-1731 363 35 has have AUX cblr-1731 363 36 grown grow VERB cblr-1731 363 37 to to ADP cblr-1731 363 38 its its PRON cblr-1731 363 39 present present ADJ cblr-1731 363 40 continental continental ADJ cblr-1731 363 41 scale scale NOUN cblr-1731 363 42 through through ADP cblr-1731 363 43 acquisition acquisition NOUN cblr-1731 363 44 , , PUNCT cblr-1731 363 45 both both CCONJ cblr-1731 363 46 before before ADP cblr-1731 363 47 and and CCONJ cblr-1731 363 48 since since SCONJ cblr-1731 363 49 berkshire berkshire NOUN cblr-1731 363 50 ’s ’s PART cblr-1731 363 51 purchase purchase NOUN cblr-1731 363 52 of of ADP cblr-1731 363 53 it it PRON cblr-1731 363 54 , , PUNCT cblr-1731 363 55 with with ADP cblr-1731 363 56 each each DET cblr-1731 363 57 unit unit NOUN cblr-1731 363 58 maintaining maintain VERB cblr-1731 363 59 such such ADJ cblr-1731 363 60 departments department NOUN cblr-1731 363 61 , , PUNCT cblr-1731 363 62 along along ADP cblr-1731 363 63 with with ADP cblr-1731 363 64 professionals professional NOUN cblr-1731 363 65 who who PRON cblr-1731 363 66 regularly regularly ADV cblr-1731 363 67 engage engage VERB cblr-1731 363 68 in in ADP cblr-1731 363 69 price price NOUN cblr-1731 363 70 - - PUNCT cblr-1731 363 71 setting set VERB cblr-1731 363 72 processes process NOUN cblr-1731 363 73 with with ADP cblr-1731 363 74 local local ADJ cblr-1731 363 75 public public ADJ cblr-1731 363 76 utility utility NOUN cblr-1731 363 77 authorities.90 authorities.90 ADP cblr-1731 363 78 the the DET cblr-1731 363 79 company company NOUN cblr-1731 363 80 and and CCONJ cblr-1731 363 81 its its PRON cblr-1731 363 82 subsidiaries subsidiary NOUN cblr-1731 363 83 engage engage VERB cblr-1731 363 84 in in ADP cblr-1731 363 85 public public ADJ cblr-1731 363 86 debates debate NOUN cblr-1731 363 87 and and CCONJ cblr-1731 363 88 policy policy NOUN cblr-1731 363 89 determinations determination NOUN cblr-1731 363 90 in in ADP cblr-1731 363 91 matters matter NOUN cblr-1731 363 92 ranging range VERB cblr-1731 363 93 from from ADP cblr-1731 363 94 the the DET cblr-1731 363 95 construction construction NOUN cblr-1731 363 96 of of ADP cblr-1731 363 97 specific specific ADJ cblr-1731 363 98 new new ADJ cblr-1731 363 99 coal coal NOUN cblr-1731 363 100 - - PUNCT cblr-1731 363 101 fired fire VERB cblr-1731 363 102 power power NOUN cblr-1731 363 103 plants plant NOUN cblr-1731 363 104 to to ADP cblr-1731 363 105 the the DET cblr-1731 363 106 national national ADJ cblr-1731 363 107 transition transition NOUN cblr-1731 363 108 from from ADP cblr-1731 363 109 fossil fossil ADJ cblr-1731 363 110 fuels fuel NOUN cblr-1731 363 111 to to PART cblr-1731 363 112 solar solar VERB cblr-1731 363 113 . . PUNCT cblr-1731 364 1 in in ADP cblr-1731 364 2 such such ADJ cblr-1731 364 3 settings setting NOUN cblr-1731 364 4 , , PUNCT cblr-1731 364 5 the the DET cblr-1731 364 6 need need NOUN cblr-1731 364 7 for for ADP cblr-1731 364 8 professional professional ADJ cblr-1731 364 9 public public ADJ cblr-1731 364 10 relations relation NOUN cblr-1731 364 11 and and CCONJ cblr-1731 364 12 lobbying lobbying NOUN cblr-1731 364 13 personnel personnel NOUN cblr-1731 364 14 is be AUX cblr-1731 364 15 clear clear ADJ cblr-1731 364 16 , , PUNCT cblr-1731 364 17 as as SCONJ cblr-1731 364 18 suggested suggest VERB cblr-1731 364 19 by by ADP cblr-1731 364 20 solar solar ADJ cblr-1731 364 21 power power NOUN cblr-1731 364 22 debates debate NOUN cblr-1731 364 23 in in ADP cblr-1731 364 24 nevada nevada PROPN cblr-1731 364 25 affecting affect VERB cblr-1731 364 26 berkshire berkshire PROPN cblr-1731 364 27 ’s ’s PART cblr-1731 364 28 local local ADJ cblr-1731 364 29 public public ADJ cblr-1731 364 30 utility utility NOUN cblr-1731 364 31 , , PUNCT cblr-1731 364 32 nv nv PROPN cblr-1731 364 33 energy energy NOUN cblr-1731 364 34 . . PUNCT cblr-1731 365 1 at at ADP cblr-1731 365 2 issue issue NOUN cblr-1731 365 3 is be AUX cblr-1731 365 4 how how SCONJ cblr-1731 365 5 much much ADJ cblr-1731 365 6 credit credit NOUN cblr-1731 365 7 residential residential ADJ cblr-1731 365 8 solar solar ADJ cblr-1731 365 9 users user NOUN cblr-1731 365 10 get get VERB cblr-1731 365 11 for for ADP cblr-1731 365 12 electricity electricity NOUN cblr-1731 365 13 they they PRON cblr-1731 365 14 generate generate VERB cblr-1731 365 15 for for ADP cblr-1731 365 16 transmission transmission NOUN cblr-1731 365 17 back back ADV cblr-1731 365 18 to to ADP cblr-1731 365 19 the the DET cblr-1731 365 20 power power NOUN cblr-1731 365 21 grid grid NOUN cblr-1731 365 22 . . 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PUNCT cblr-1731 367 1 so so ADV cblr-1731 367 2 long long ADV cblr-1731 367 3 as as SCONJ cblr-1731 367 4 state state NOUN cblr-1731 367 5 - - PUNCT cblr-1731 367 6 wide wide ADJ cblr-1731 367 7 solar solar ADJ cblr-1731 367 8 generation generation NOUN cblr-1731 367 9 was be AUX cblr-1731 367 10 less less ADJ cblr-1731 367 11 than than ADP cblr-1731 367 12 that that PRON cblr-1731 367 13 , , PUNCT cblr-1731 367 14 all all DET cblr-1731 367 15 solar solar ADJ cblr-1731 367 16 users user NOUN cblr-1731 367 17 earned earn VERB cblr-1731 367 18 full full ADJ cblr-1731 367 19 credit credit NOUN cblr-1731 367 20 ; ; PUNCT cblr-1731 367 21 if if SCONJ cblr-1731 367 22 the the DET cblr-1731 367 23 limit limit NOUN cblr-1731 367 24 were be AUX cblr-1731 367 25 exceeded exceed VERB cblr-1731 367 26 , , PUNCT cblr-1731 367 27 new new ADJ cblr-1731 367 28 solar solar ADJ cblr-1731 367 29 users user NOUN cblr-1731 367 30 would would AUX cblr-1731 367 31 not not PART cblr-1731 367 32 get get VERB cblr-1731 367 33 the the DET cblr-1731 367 34 credit credit NOUN cblr-1731 367 35 . . PUNCT cblr-1731 368 1 solar solar ADJ cblr-1731 368 2 advocates advocate NOUN cblr-1731 368 3 sought seek VERB cblr-1731 368 4 to to PART cblr-1731 368 5 boost boost VERB cblr-1731 368 6 the the DET cblr-1731 368 7 cap cap NOUN cblr-1731 368 8 , , PUNCT cblr-1731 368 9 arguing argue VERB cblr-1731 368 10 it it PRON cblr-1731 368 11 would would AUX cblr-1731 368 12 soon soon ADV cblr-1731 368 13 be be AUX cblr-1731 368 14 reached reach VERB cblr-1731 368 15 and and CCONJ cblr-1731 368 16 stressing stress VERB cblr-1731 368 17 the the DET cblr-1731 368 18 need need NOUN cblr-1731 368 19 for for ADP cblr-1731 368 20 economic economic ADJ cblr-1731 368 21 incentives incentive NOUN cblr-1731 368 22 to to PART cblr-1731 368 23 sustain sustain VERB cblr-1731 368 24 solarization solarization NOUN cblr-1731 368 25 ; ; PUNCT cblr-1731 368 26 nv nv PROPN cblr-1731 368 27 energy energy NOUN cblr-1731 368 28 resisted resist VERB cblr-1731 368 29 , , PUNCT cblr-1731 368 30 forecasting forecast VERB cblr-1731 368 31 reaching reach VERB cblr-1731 368 32 the the DET cblr-1731 368 33 cap cap NOUN cblr-1731 368 34 much much ADV cblr-1731 368 35 later later ADV cblr-1731 368 36 and and CCONJ cblr-1731 368 37 noting note VERB cblr-1731 368 38 the the DET cblr-1731 368 39 need need NOUN cblr-1731 368 40 to to PART cblr-1731 368 41 avoid avoid VERB cblr-1731 368 42 having have VERB cblr-1731 368 43 those those PRON cblr-1731 368 44 without without ADP cblr-1731 368 45 solar solar ADJ cblr-1731 368 46 panels panel NOUN cblr-1731 368 47 pay pay VERB cblr-1731 368 48 more more ADJ cblr-1731 368 49 for for ADP cblr-1731 368 50 energy energy NOUN cblr-1731 368 51 than than ADP cblr-1731 368 52 those those PRON cblr-1731 368 53 with with ADP cblr-1731 368 54 solar solar ADJ cblr-1731 368 55 panels.91 panels.91 NOUN cblr-1731 368 56 89 89 NUM cblr-1731 368 57 steve steve PROPN cblr-1731 368 58 jordon jordon PROPN cblr-1731 368 59 , , PUNCT cblr-1731 368 60 warren warren PROPN cblr-1731 368 61 watch watch PROPN cblr-1731 368 62 : : PUNCT cblr-1731 368 63 buffett buffett PROPN cblr-1731 368 64 ’s ’s PART cblr-1731 368 65 ‘ ' PUNCT cblr-1731 368 66 german german ADJ cblr-1731 368 67 scout scout NOUN cblr-1731 368 68 ’ ' PUNCT cblr-1731 368 69 on on ADP cblr-1731 368 70 the the DET cblr-1731 368 71 hunt hunt NOUN cblr-1731 368 72 , , PUNCT cblr-1731 368 73 omaha omaha NOUN cblr-1731 368 74 world world PROPN cblr-1731 368 75 - - PUNCT cblr-1731 368 76 herald herald PROPN cblr-1731 368 77 ( ( PUNCT cblr-1731 368 78 mar mar PROPN cblr-1731 368 79 . . 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PUNCT cblr-1731 371 1 see see VERB cblr-1731 371 2 , , PUNCT cblr-1731 371 3 e.g. e.g. ADV cblr-1731 371 4 , , PUNCT cblr-1731 371 5 jim jim PROPN cblr-1731 371 6 wrathall wrathall PROPN cblr-1731 371 7 , , PUNCT cblr-1731 371 8 nevada nevada PROPN cblr-1731 371 9 solar solar PROPN cblr-1731 371 10 update update NOUN cblr-1731 371 11 : : PUNCT cblr-1731 371 12 cunningham cunningham PROPN cblr-1731 371 13 – – PUNCT cblr-1731 371 14 final final ADJ cblr-1731 371 15 32 32 NUM cblr-1731 371 16 columbia columbia PROPN cblr-1731 371 17 business business NOUN cblr-1731 371 18 law law PROPN cblr-1731 371 19 review review NOUN cblr-1731 372 1 [ [ X cblr-1731 372 2 vol vol NOUN cblr-1731 372 3 . . NOUN cblr-1731 372 4 2016 2016 NUM cblr-1731 372 5 both both DET cblr-1731 372 6 sides side NOUN cblr-1731 372 7 lobbied lobby VERB cblr-1731 372 8 and and CCONJ cblr-1731 372 9 engaged engage VERB cblr-1731 372 10 in in ADP cblr-1731 372 11 public public ADJ cblr-1731 372 12 relations relation NOUN cblr-1731 372 13 campaigns campaign NOUN cblr-1731 372 14 — — PUNCT cblr-1731 372 15 and and CCONJ cblr-1731 372 16 both both PRON cblr-1731 372 17 were be AUX cblr-1731 372 18 accused accuse VERB cblr-1731 372 19 of of ADP cblr-1731 372 20 overdoing overdo VERB cblr-1731 372 21 it it PRON cblr-1731 372 22 . . PUNCT cblr-1731 373 1 at at ADP cblr-1731 373 2 a a DET cblr-1731 373 3 public public ADJ cblr-1731 373 4 hearing hearing NOUN cblr-1731 373 5 on on ADP cblr-1731 373 6 the the DET cblr-1731 373 7 issue issue NOUN cblr-1731 373 8 , , PUNCT cblr-1731 373 9 for for ADP cblr-1731 373 10 example example NOUN cblr-1731 373 11 , , PUNCT cblr-1731 373 12 lawmakers lawmaker NOUN cblr-1731 373 13 accused accuse VERB cblr-1731 373 14 the the DET cblr-1731 373 15 solar solar ADJ cblr-1731 373 16 industry industry NOUN cblr-1731 373 17 of of ADP cblr-1731 373 18 sending send VERB cblr-1731 373 19 “ " PUNCT cblr-1731 373 20 aggressive aggressive ADJ cblr-1731 373 21 ” " PUNCT cblr-1731 373 22 emails email NOUN cblr-1731 373 23 criticizing criticize VERB cblr-1731 373 24 specific specific ADJ cblr-1731 373 25 people people NOUN cblr-1731 373 26 , , PUNCT cblr-1731 373 27 prompting prompt VERB cblr-1731 373 28 a a DET cblr-1731 373 29 leading lead VERB cblr-1731 373 30 solar solar ADJ cblr-1731 373 31 advocate advocate NOUN cblr-1731 373 32 to to PART cblr-1731 373 33 apologize apologize VERB cblr-1731 373 34 publicly publicly ADV cblr-1731 373 35 for for ADP cblr-1731 373 36 his his PRON cblr-1731 373 37 staff staff NOUN cblr-1731 373 38 ’s ’s PART cblr-1731 373 39 work.92 work.92 NOUN cblr-1731 373 40 the the DET cblr-1731 373 41 accusations accusation NOUN cblr-1731 373 42 against against ADP cblr-1731 373 43 nv nv PROPN cblr-1731 373 44 energy energy NOUN cblr-1731 373 45 went go VERB cblr-1731 373 46 beyond beyond ADP cblr-1731 373 47 that that DET cblr-1731 373 48 company company NOUN cblr-1731 373 49 to to PART cblr-1731 373 50 target target VERB cblr-1731 373 51 berkshire berkshire NOUN cblr-1731 373 52 itself itself PRON cblr-1731 373 53 , , PUNCT cblr-1731 373 54 especially especially ADV cblr-1731 373 55 buffett buffett PROPN cblr-1731 373 56 , , PUNCT cblr-1731 373 57 turning turn VERB cblr-1731 373 58 the the DET cblr-1731 373 59 local local ADJ cblr-1731 373 60 story story NOUN cblr-1731 373 61 into into ADP cblr-1731 373 62 a a DET cblr-1731 373 63 david david PROPN cblr-1731 373 64 versus versus ADP cblr-1731 373 65 goliath goliath PROPN cblr-1731 373 66 match match NOUN cblr-1731 373 67 shaded shade VERB cblr-1731 373 68 by by ADP cblr-1731 373 69 assertions assertion NOUN cblr-1731 373 70 of of ADP cblr-1731 373 71 overzealous overzealous ADJ cblr-1731 373 72 capitalism capitalism NOUN cblr-1731 373 73 , , PUNCT cblr-1731 373 74 greed greed NOUN cblr-1731 373 75 , , PUNCT cblr-1731 373 76 and and CCONJ cblr-1731 373 77 hypocrisy hypocrisy NOUN cblr-1731 373 78 . . PUNCT cblr-1731 374 1 one one NUM cblr-1731 374 2 headline headline NOUN cblr-1731 374 3 read read VERB cblr-1731 374 4 that that SCONJ cblr-1731 374 5 “ " PUNCT cblr-1731 374 6 warren warren PROPN cblr-1731 374 7 buffett buffett PROPN cblr-1731 374 8 is be AUX cblr-1731 374 9 sending send VERB cblr-1731 374 10 mixed mixed ADJ cblr-1731 374 11 messages message NOUN cblr-1731 374 12 on on ADP cblr-1731 374 13 green green ADJ cblr-1731 374 14 energy energy NOUN cblr-1731 374 15 . . PUNCT cblr-1731 375 1 ”93 ”93 ADJ cblr-1731 375 2 contrasting contrast VERB cblr-1731 375 3 buffett buffett PROPN cblr-1731 375 4 ’s ’s PART cblr-1731 375 5 boasts boast NOUN cblr-1731 375 6 of of ADP cblr-1731 375 7 berkshire berkshire NOUN cblr-1731 375 8 investments investment NOUN cblr-1731 375 9 in in ADP cblr-1731 375 10 renewables renewable NOUN cblr-1731 375 11 with with ADP cblr-1731 375 12 nv nv PROPN cblr-1731 375 13 ’s ’s PART cblr-1731 375 14 position position NOUN cblr-1731 375 15 in in ADP cblr-1731 375 16 the the DET cblr-1731 375 17 nevada nevada PROPN cblr-1731 375 18 debate debate NOUN cblr-1731 375 19 , , PUNCT cblr-1731 375 20 one one NUM cblr-1731 375 21 source source NOUN cblr-1731 375 22 cynically cynically ADV cblr-1731 375 23 declared declare VERB cblr-1731 375 24 , , PUNCT cblr-1731 375 25 “ " PUNCT cblr-1731 375 26 [ [ X cblr-1731 375 27 i]t i]t PRON cblr-1731 375 28 always always ADV cblr-1731 375 29 comes come VERB cblr-1731 375 30 down down ADP cblr-1731 375 31 to to ADP cblr-1731 375 32 money money NOUN cblr-1731 375 33 . . PUNCT cblr-1731 375 34 . . PUNCT cblr-1731 376 1 . . PUNCT cblr-1731 377 1 even even ADV cblr-1731 377 2 if if SCONJ cblr-1731 377 3 it it PRON cblr-1731 377 4 looks look VERB cblr-1731 377 5 kind kind ADV cblr-1731 377 6 of of ADV cblr-1731 377 7 hypocritical hypocritical ADJ cblr-1731 377 8 . . PUNCT cblr-1731 378 1 ”94 ”94 PROPN cblr-1731 378 2 while while SCONJ cblr-1731 378 3 editors editor NOUN cblr-1731 378 4 may may AUX cblr-1731 378 5 have have AUX cblr-1731 378 6 liked like VERB cblr-1731 378 7 the the DET cblr-1731 378 8 storyline storyline ADJ cblr-1731 378 9 pitting pit VERB cblr-1731 378 10 consumer consumer NOUN cblr-1731 378 11 - - PUNCT cblr-1731 378 12 loving loving ADJ cblr-1731 378 13 , , PUNCT cblr-1731 378 14 tree tree NOUN cblr-1731 378 15 - - PUNCT cblr-1731 378 16 hugging hug VERB cblr-1731 378 17 do do NOUN cblr-1731 378 18 - - PUNCT cblr-1731 378 19 gooders gooder NOUN cblr-1731 378 20 against against ADP cblr-1731 378 21 the the DET cblr-1731 378 22 monopolistic monopolistic ADJ cblr-1731 378 23 profiteers profiteer NOUN cblr-1731 378 24 at at ADP cblr-1731 378 25 berkshire berkshire NOUN cblr-1731 378 26 , , PUNCT cblr-1731 378 27 in in ADP cblr-1731 378 28 fact fact NOUN cblr-1731 378 29 , , PUNCT cblr-1731 378 30 the the DET cblr-1731 378 31 duller dull ADJ cblr-1731 378 32 reality reality NOUN cblr-1731 378 33 was be AUX cblr-1731 378 34 the the DET cblr-1731 378 35 complex complex ADJ cblr-1731 378 36 and and CCONJ cblr-1731 378 37 contestable contestable ADJ cblr-1731 378 38 public public ADJ cblr-1731 378 39 policy policy NOUN cblr-1731 378 40 of of ADP cblr-1731 378 41 senator senator PROPN cblr-1731 378 42 harry harry PROPN cblr-1731 378 43 reid reid PROPN cblr-1731 378 44 takes take VERB cblr-1731 378 45 on on ADP cblr-1731 378 46 warren warren PROPN cblr-1731 378 47 buffett buffett PROPN cblr-1731 378 48 ’s ’s PART cblr-1731 378 49 berkshire berkshire PROPN cblr-1731 378 50 hathaway hathaway PROPN cblr-1731 378 51 in in ADP cblr-1731 378 52 net net ADJ cblr-1731 378 53 metering metering NOUN cblr-1731 378 54 debate debate NOUN cblr-1731 378 55 , , PUNCT cblr-1731 378 56 sullivan sullivan PROPN cblr-1731 378 57 & & CCONJ cblr-1731 378 58 worcester worcester PROPN cblr-1731 378 59 : : PUNCT cblr-1731 378 60 energy energy NOUN cblr-1731 378 61 fin fin NOUN cblr-1731 378 62 . . PUNCT cblr-1731 379 1 report report NOUN cblr-1731 379 2 ( ( PUNCT cblr-1731 379 3 sept sept PROPN cblr-1731 379 4 . . PROPN cblr-1731 379 5 8 8 NUM cblr-1731 379 6 , , PUNCT cblr-1731 379 7 2015 2015 NUM cblr-1731 379 8 , , PUNCT cblr-1731 379 9 8:00 8:00 NUM cblr-1731 379 10 am am NOUN cblr-1731 379 11 ) ) PUNCT cblr-1731 379 12 , , PUNCT cblr-1731 379 13 http://blog.sandw.com/energyfinancereport/2015/09/ http://blog.sandw.com/energyfinancereport/2015/09/ PROPN cblr-1731 379 14 nevada nevada PROPN cblr-1731 379 15 - - PUNCT cblr-1731 379 16 solar solar ADJ cblr-1731 379 17 - - PUNCT cblr-1731 379 18 update update NOUN cblr-1731 379 19 - - PUNCT cblr-1731 379 20 senator senator NOUN cblr-1731 379 21 - - PUNCT cblr-1731 379 22 harry harry PROPN cblr-1731 379 23 - - PUNCT cblr-1731 379 24 reid reid NOUN cblr-1731 379 25 - - PUNCT cblr-1731 379 26 takes take VERB cblr-1731 379 27 - - PUNCT cblr-1731 379 28 on on ADP cblr-1731 379 29 - - PUNCT cblr-1731 379 30 warren warren NOUN cblr-1731 379 31 - - PUNCT cblr-1731 379 32 buffets buffet NOUN cblr-1731 379 33 - - PUNCT cblr-1731 379 34 berkshire berkshire NOUN cblr-1731 379 35 -hathaway -hathaway NOUN cblr-1731 379 36 - - PUNCT cblr-1731 379 37 in in ADP cblr-1731 379 38 - - PUNCT cblr-1731 379 39 net net NOUN cblr-1731 379 40 - - PUNCT cblr-1731 379 41 metering metering NOUN cblr-1731 379 42 - - PUNCT cblr-1731 379 43 debate debate NOUN cblr-1731 379 44 [ [ X cblr-1731 379 45 http://perma.cc/ef5j-8bk8 http://perma.cc/ef5j-8bk8 X cblr-1731 379 46 ] ] PUNCT cblr-1731 379 47 ; ; PUNCT cblr-1731 379 48 herman herman PROPN cblr-1731 379 49 k. k. PROPN cblr-1731 379 50 trabish trabish PROPN cblr-1731 379 51 , , PUNCT cblr-1731 379 52 as as SCONJ cblr-1731 379 53 regulators regulator NOUN cblr-1731 379 54 act act PROPN cblr-1731 379 55 , , PUNCT cblr-1731 379 56 nevada nevada PROPN cblr-1731 379 57 net net ADJ cblr-1731 379 58 metering metering NOUN cblr-1731 379 59 debate debate NOUN cblr-1731 379 60 takes take VERB cblr-1731 379 61 center center ADJ cblr-1731 379 62 stage stage NOUN cblr-1731 379 63 at at ADP cblr-1731 379 64 las las PROPN cblr-1731 379 65 vegas vegas PROPN cblr-1731 379 66 conference conference NOUN cblr-1731 379 67 , , PUNCT cblr-1731 379 68 utility utility NOUN cblr-1731 379 69 dive dive NOUN cblr-1731 379 70 ( ( PUNCT cblr-1731 379 71 aug aug PROPN cblr-1731 379 72 . . PROPN cblr-1731 379 73 31 31 NUM cblr-1731 379 74 , , PUNCT cblr-1731 379 75 2015 2015 NUM cblr-1731 379 76 ) ) PUNCT cblr-1731 379 77 , , PUNCT cblr-1731 379 78 http://www http://www PROPN cblr-1731 379 79 . . PUNCT cblr-1731 379 80 utilitydive.com/news/as-regulators-act-nevada-net-metering-debate-takescenter-stage-at-las-veg/404799 utilitydive.com/news/as-regulators-act-nevada-net-metering-debate-takescenter-stage-at-las-veg/404799 PUNCT cblr-1731 380 1 [ [ X cblr-1731 380 2 http://perma.cc/v4zf-3wup http://perma.cc/v4zf-3wup ADJ cblr-1731 380 3 ] ] X cblr-1731 380 4 ; ; PUNCT cblr-1731 380 5 krysti krysti NOUN cblr-1731 380 6 shallenberger shallenberger NOUN cblr-1731 380 7 , , PUNCT cblr-1731 380 8 heated heated ADJ cblr-1731 380 9 debate debate NOUN cblr-1731 380 10 in in ADP cblr-1731 380 11 nev nev PROPN cblr-1731 380 12 . . PROPN cblr-1731 380 13 over over ADP cblr-1731 380 14 solar solar ADJ cblr-1731 380 15 net net ADJ cblr-1731 380 16 metering metering NOUN cblr-1731 380 17 settles settle VERB cblr-1731 380 18 down down ADP cblr-1731 380 19 , , PUNCT cblr-1731 380 20 governors governor NOUN cblr-1731 380 21 ’ ' PUNCT cblr-1731 380 22 wind wind NOUN cblr-1731 380 23 energy energy NOUN cblr-1731 380 24 coal coal NOUN cblr-1731 380 25 . . PUNCT cblr-1731 381 1 ( ( PUNCT cblr-1731 381 2 may may PROPN cblr-1731 381 3 26 26 NUM cblr-1731 381 4 , , PUNCT cblr-1731 381 5 2015 2015 NUM cblr-1731 381 6 ) ) PUNCT cblr-1731 381 7 , , PUNCT cblr-1731 381 8 http://www.gov http://www.gov NOUN cblr-1731 381 9 ernorswindenergycoalition.org/?p=13146 ernorswindenergycoalition.org/?p=13146 PROPN cblr-1731 381 10 [ [ X cblr-1731 381 11 https://perma.cc/m2ll-ew8d https://perma.cc/m2ll-ew8d X cblr-1731 381 12 ] ] X cblr-1731 381 13 . . PUNCT cblr-1731 382 1 92 92 NUM cblr-1731 382 2 reem reem PROPN cblr-1731 382 3 nasr nasr PROPN cblr-1731 382 4 , , PUNCT cblr-1731 382 5 ground ground NOUN cblr-1731 382 6 zero zero NUM cblr-1731 382 7 in in ADP cblr-1731 382 8 the the DET cblr-1731 382 9 solar solar ADJ cblr-1731 382 10 wars war NOUN cblr-1731 382 11 : : PUNCT cblr-1731 382 12 nevada nevada PROPN cblr-1731 382 13 , , PUNCT cblr-1731 382 14 cnbc cnbc PROPN cblr-1731 382 15 ( ( PUNCT cblr-1731 382 16 may may PROPN cblr-1731 382 17 26 26 NUM cblr-1731 382 18 , , PUNCT cblr-1731 382 19 2015 2015 NUM cblr-1731 382 20 , , PUNCT cblr-1731 382 21 1:44 1:44 NUM cblr-1731 382 22 pm pm NOUN cblr-1731 382 23 ) ) PUNCT cblr-1731 382 24 , , PUNCT cblr-1731 382 25 http://www.cnbc.com/2015/05/26/ground-zero-in-thesolar-wars-nevada.html http://www.cnbc.com/2015/05/26/ground-zero-in-thesolar-wars-nevada.html X cblr-1731 383 1 [ [ X cblr-1731 383 2 http://perma.cc/hct5-c2vc http://perma.cc/hct5-c2vc NOUN cblr-1731 383 3 ] ] PUNCT cblr-1731 383 4 . . PUNCT cblr-1731 384 1 93 93 NUM cblr-1731 384 2 mark mark PROPN cblr-1731 384 3 chediak chediak PROPN cblr-1731 384 4 , , PUNCT cblr-1731 384 5 noah noah PROPN cblr-1731 384 6 buhayar buhayar PROPN cblr-1731 384 7 , , PUNCT cblr-1731 384 8 & & CCONJ cblr-1731 384 9 margaret margaret PROPN cblr-1731 384 10 newkirk newkirk PROPN cblr-1731 384 11 , , PUNCT cblr-1731 384 12 warren warren PROPN cblr-1731 384 13 buffett buffett PROPN cblr-1731 384 14 is be AUX cblr-1731 384 15 sending send VERB cblr-1731 384 16 mixed mixed ADJ cblr-1731 384 17 messages message NOUN cblr-1731 384 18 on on ADP cblr-1731 384 19 green green ADJ cblr-1731 384 20 energy energy NOUN cblr-1731 384 21 , , PUNCT cblr-1731 384 22 bloomberg bloomberg NOUN cblr-1731 384 23 bus bus NOUN cblr-1731 384 24 . . PUNCT cblr-1731 385 1 ( ( PUNCT cblr-1731 385 2 may may PROPN cblr-1731 385 3 18 18 NUM cblr-1731 385 4 , , PUNCT cblr-1731 385 5 2015 2015 NUM cblr-1731 385 6 , , PUNCT cblr-1731 385 7 12:09 12:09 NUM cblr-1731 385 8 pm pm NOUN cblr-1731 385 9 ) ) PUNCT cblr-1731 385 10 , , PUNCT cblr-1731 385 11 http://www.bloomberg.com/news/articles/201505-18/berkshire-fights-rooftop-solar-as-buffett-champions-green-energy http://www.bloomberg.com/news/articles/201505-18/berkshire-fights-rooftop-solar-as-buffett-champions-green-energy X cblr-1731 386 1 [ [ X cblr-1731 386 2 http://perma.cc/g786-zctk http://perma.cc/g786-zctk X cblr-1731 386 3 ] ] X cblr-1731 386 4 . . PUNCT cblr-1731 387 1 94 94 NUM cblr-1731 388 1 i i PRON cblr-1731 388 2 d. d. PROPN cblr-1731 388 3 cunningham cunningham PROPN cblr-1731 388 4 – – PUNCT cblr-1731 388 5 final final ADJ cblr-1731 388 6 no no NOUN cblr-1731 388 7 . . NOUN cblr-1731 388 8 1:1 1:1 NUM cblr-1731 388 9 ] ] PUNCT cblr-1731 388 10 berkshire berkshire PROPN cblr-1731 388 11 ’s ’s PART cblr-1731 388 12 blemishes blemish NOUN cblr-1731 388 13 33 33 NUM cblr-1731 388 14 transitioning transition VERB cblr-1731 388 15 from from ADP cblr-1731 388 16 fossil fossil ADJ cblr-1731 388 17 fuels fuel NOUN cblr-1731 388 18 to to PART cblr-1731 388 19 renewables.95 renewables.95 PROPN cblr-1731 388 20 berkshire berkshire NOUN cblr-1731 388 21 has have VERB cblr-1731 388 22 a a DET cblr-1731 388 23 dog dog NOUN cblr-1731 388 24 in in ADP cblr-1731 388 25 that that DET cblr-1731 388 26 fight fight NOUN cblr-1731 388 27 and and CCONJ cblr-1731 388 28 nv nv PROPN cblr-1731 388 29 energy energy NOUN cblr-1731 388 30 is be AUX cblr-1731 388 31 one one NUM cblr-1731 388 32 of of ADP cblr-1731 388 33 the the DET cblr-1731 388 34 many many ADJ cblr-1731 388 35 berkshire berkshire PROPN cblr-1731 388 36 hathaway hathaway PROPN cblr-1731 388 37 energy energy NOUN cblr-1731 388 38 subsidiaries subsidiary NOUN cblr-1731 388 39 actively actively ADV cblr-1731 388 40 engaged engage VERB cblr-1731 388 41 in in ADP cblr-1731 388 42 the the DET cblr-1731 388 43 process process NOUN cblr-1731 388 44 . . PUNCT cblr-1731 389 1 it it PRON cblr-1731 389 2 would would AUX cblr-1731 389 3 be be AUX cblr-1731 389 4 absurd absurd ADJ cblr-1731 389 5 to to PART cblr-1731 389 6 believe believe VERB cblr-1731 389 7 , , PUNCT cblr-1731 389 8 however however ADV cblr-1731 389 9 , , PUNCT cblr-1731 389 10 that that SCONJ cblr-1731 389 11 energy energy NOUN cblr-1731 389 12 scientists scientist NOUN cblr-1731 389 13 and and CCONJ cblr-1731 389 14 business business NOUN cblr-1731 389 15 executives executive NOUN cblr-1731 389 16 alone alone ADV cblr-1731 389 17 will will AUX cblr-1731 389 18 define define VERB cblr-1731 389 19 the the DET cblr-1731 389 20 dialogue dialogue NOUN cblr-1731 389 21 and and CCONJ cblr-1731 389 22 process process VERB cblr-1731 389 23 everything everything PRON cblr-1731 389 24 that that PRON cblr-1731 389 25 the the DET cblr-1731 389 26 energy energy NOUN cblr-1731 389 27 company company NOUN cblr-1731 389 28 requires require VERB cblr-1731 389 29 be be AUX cblr-1731 389 30 said say VERB cblr-1731 389 31 . . PUNCT cblr-1731 390 1 for for ADP cblr-1731 390 2 that that PRON cblr-1731 390 3 , , PUNCT cblr-1731 390 4 the the DET cblr-1731 390 5 company company NOUN cblr-1731 390 6 must must AUX cblr-1731 390 7 have have VERB cblr-1731 390 8 public public ADJ cblr-1731 390 9 relations relation NOUN cblr-1731 390 10 specialists specialist NOUN cblr-1731 390 11 and and CCONJ cblr-1731 390 12 lobbying lobbying NOUN cblr-1731 390 13 professionals professional NOUN cblr-1731 390 14 on on ADP cblr-1731 390 15 staff staff NOUN cblr-1731 390 16 . . 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PROPN cblr-1731 402 7 , , PUNCT cblr-1731 402 8 2014 2014 NUM cblr-1731 402 9 annual annual ADJ cblr-1731 402 10 report report NOUN cblr-1731 402 11 125 125 NUM cblr-1731 402 12 ( ( PUNCT cblr-1731 402 13 2015 2015 NUM cblr-1731 402 14 ) ) PUNCT cblr-1731 402 15 http://www.berkshirehathaway.com/2014ar/2014ar.pdf http://www.berkshirehathaway.com/2014ar/2014ar.pdf VERB cblr-1731 402 16 [ [ X cblr-1731 402 17 http://perma.cc/n8 http://perma.cc/n8 X cblr-1731 402 18 ea ea X cblr-1731 402 19 - - PUNCT cblr-1731 402 20 r6z6 r6z6 NOUN cblr-1731 402 21 ] ] X cblr-1731 402 22 ( ( PUNCT cblr-1731 402 23 showing show VERB cblr-1731 402 24 total total ADJ cblr-1731 402 25 number number NOUN cblr-1731 402 26 of of ADP cblr-1731 402 27 berkshire berkshire NOUN cblr-1731 402 28 employees employee NOUN cblr-1731 402 29 as as ADP cblr-1731 402 30 340,499 340,499 NUM cblr-1731 402 31 ) ) PUNCT cblr-1731 402 32 . . PUNCT cblr-1731 403 1 two two NUM cblr-1731 403 2 large large ADJ cblr-1731 403 3 berkshire berkshire NOUN cblr-1731 403 4 subsidiaries subsidiary NOUN cblr-1731 403 5 , , PUNCT cblr-1731 403 6 berkshire berkshire PROPN cblr-1731 403 7 hathaway hathaway PROPN cblr-1731 403 8 energy energy NOUN cblr-1731 403 9 and and CCONJ cblr-1731 403 10 bnsf bnsf NOUN cblr-1731 403 11 , , PUNCT cblr-1731 403 12 have have VERB cblr-1731 403 13 public public ADJ cblr-1731 403 14 debt debt NOUN cblr-1731 403 15 outstanding outstanding ADJ cblr-1731 403 16 and and CCONJ cblr-1731 403 17 therefore therefore ADV cblr-1731 403 18 file file VERB cblr-1731 403 19 regular regular ADJ cblr-1731 403 20 periodic periodic ADJ cblr-1731 403 21 reports report NOUN cblr-1731 403 22 with with ADP cblr-1731 403 23 the the DET cblr-1731 403 24 securities security NOUN cblr-1731 403 25 and and CCONJ cblr-1731 403 26 exchange exchange PROPN cblr-1731 403 27 commission commission PROPN cblr-1731 403 28 containing contain VERB cblr-1731 403 29 considerable considerable ADJ cblr-1731 403 30 cunningham cunningham PROPN cblr-1731 403 31 – – PUNCT cblr-1731 404 1 final final ADJ cblr-1731 404 2 34 34 NUM cblr-1731 404 3 columbia columbia PROPN cblr-1731 404 4 business business NOUN cblr-1731 404 5 law law PROPN cblr-1731 404 6 review review NOUN cblr-1731 404 7 [ [ X cblr-1731 404 8 vol vol NOUN cblr-1731 404 9 . . NOUN cblr-1731 404 10 2016 2016 NUM cblr-1731 404 11 there there PRON cblr-1731 404 12 is be VERB cblr-1731 404 13 some some DET cblr-1731 404 14 cost cost NOUN cblr-1731 404 15 to to ADP cblr-1731 404 16 having have VERB cblr-1731 404 17 a a DET cblr-1731 404 18 centralized centralized ADJ cblr-1731 404 19 public public ADJ cblr-1731 404 20 relations relation NOUN cblr-1731 404 21 function function NOUN cblr-1731 404 22 , , PUNCT cblr-1731 404 23 creating create VERB cblr-1731 404 24 an an DET cblr-1731 404 25 effective effective ADJ cblr-1731 404 26 office office NOUN cblr-1731 404 27 need need AUX cblr-1731 404 28 not not PART cblr-1731 404 29 be be AUX cblr-1731 404 30 a a DET cblr-1731 404 31 splurge splurge NOUN cblr-1731 404 32 . . 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PROPN cblr-1731 421 21 21 21 NUM cblr-1731 421 22 , , PUNCT cblr-1731 421 23 2014 2014 NUM cblr-1731 421 24 ) ) PUNCT cblr-1731 421 25 , , PUNCT cblr-1731 421 26 http://www.smh.com.au/business/warren-buffett-agrees-to-settlementafter-violating-antitrust-laws http://www.smh.com.au/business/warren-buffett-agrees-to-settlementafter-violating-antitrust-law NOUN cblr-1731 421 27 [ [ X cblr-1731 421 28 http://perma.cc/s8ln-y5mt http://perma.cc/s8ln-y5mt PROPN cblr-1731 421 29 ] ] X cblr-1731 421 30 . . PUNCT cblr-1731 422 1 berkshire berkshire PROPN cblr-1731 422 2 generally generally ADV cblr-1731 422 3 retains retain VERB cblr-1731 422 4 munger munger NOUN cblr-1731 422 5 , , PUNCT cblr-1731 422 6 tolles tolles PROPN cblr-1731 422 7 & & CCONJ cblr-1731 422 8 olson olson PROPN cblr-1731 422 9 llp llp PROPN cblr-1731 422 10 for for ADP cblr-1731 422 11 legal legal ADJ cblr-1731 422 12 work work NOUN cblr-1731 422 13 , , PUNCT cblr-1731 422 14 which which PRON cblr-1731 422 15 tends tend VERB cblr-1731 422 16 to to PART cblr-1731 422 17 involve involve VERB cblr-1731 422 18 corporate corporate ADJ cblr-1731 422 19 acquisitions acquisition NOUN cblr-1731 422 20 and and CCONJ cblr-1731 422 21 securities security NOUN cblr-1731 422 22 disclosure disclosure NOUN cblr-1731 422 23 . . PUNCT cblr-1731 423 1 cunningham cunningham PROPN cblr-1731 423 2 – – PUNCT cblr-1731 423 3 final final ADJ cblr-1731 423 4 no no NOUN cblr-1731 423 5 . . NOUN cblr-1731 423 6 1:1 1:1 NUM cblr-1731 423 7 ] ] PUNCT cblr-1731 423 8 berkshire berkshire PROPN cblr-1731 423 9 ’s ’s PART cblr-1731 423 10 blemishes blemish NOUN cblr-1731 423 11 35 35 NUM cblr-1731 423 12 people people NOUN cblr-1731 423 13 conflated conflate VERB cblr-1731 423 14 buffett buffett PROPN cblr-1731 423 15 ’s ’s PART cblr-1731 423 16 views view NOUN cblr-1731 423 17 on on ADP cblr-1731 423 18 estate estate NOUN cblr-1731 423 19 taxes taxis NOUN cblr-1731 423 20 , , PUNCT cblr-1731 423 21 which which PRON cblr-1731 423 22 he he PRON cblr-1731 423 23 supported support VERB cblr-1731 423 24 , , PUNCT cblr-1731 423 25 with with ADP cblr-1731 423 26 berkshire berkshire NOUN cblr-1731 423 27 ’s ’s PART cblr-1731 423 28 interest interest NOUN cblr-1731 423 29 in in ADP cblr-1731 423 30 acquiring acquire VERB cblr-1731 423 31 family family NOUN cblr-1731 423 32 companies company NOUN cblr-1731 423 33 at at ADP cblr-1731 423 34 discounts discount NOUN cblr-1731 423 35 when when SCONJ cblr-1731 423 36 owners owner NOUN cblr-1731 423 37 faced face VERB cblr-1731 423 38 such such ADJ cblr-1731 423 39 tax tax NOUN cblr-1731 423 40 liabilities liability NOUN cblr-1731 423 41 . . PUNCT cblr-1731 424 1 that that PRON cblr-1731 424 2 is be AUX cblr-1731 424 3 especially especially ADV cblr-1731 424 4 costly costly ADJ cblr-1731 424 5 considering consider VERB cblr-1731 424 6 how how SCONJ cblr-1731 424 7 berkshire berkshire NOUN cblr-1731 424 8 itself itself PRON cblr-1731 424 9 is be AUX cblr-1731 424 10 a a DET cblr-1731 424 11 microcosm microcosm NOUN cblr-1731 424 12 of of ADP cblr-1731 424 13 america america PROPN cblr-1731 424 14 — — PUNCT cblr-1731 424 15 some some PRON cblr-1731 424 16 of of ADP cblr-1731 424 17 its its PRON cblr-1731 424 18 subsidiaries subsidiary NOUN cblr-1731 424 19 were be AUX cblr-1731 424 20 founded found VERB cblr-1731 424 21 and and CCONJ cblr-1731 424 22 run run VERB cblr-1731 424 23 by by ADP cblr-1731 424 24 deeply deeply ADV cblr-1731 424 25 conservative conservative ADJ cblr-1731 424 26 families family NOUN cblr-1731 424 27 in in ADP cblr-1731 424 28 salt salt NOUN cblr-1731 424 29 lake lake PROPN cblr-1731 424 30 city city PROPN cblr-1731 424 31 and and CCONJ cblr-1731 424 32 waco waco PROPN cblr-1731 424 33 , , PUNCT cblr-1731 424 34 others other NOUN cblr-1731 424 35 by by ADP cblr-1731 424 36 progressives progressive NOUN cblr-1731 424 37 in in ADP cblr-1731 424 38 boston boston PROPN cblr-1731 424 39 and and CCONJ cblr-1731 424 40 seattle seattle PROPN cblr-1731 424 41 . . PUNCT cblr-1731 425 1 the the DET cblr-1731 425 2 company company NOUN cblr-1731 425 3 ’s ’s PART cblr-1731 425 4 businesses business NOUN cblr-1731 425 5 are be AUX cblr-1731 425 6 managed manage VERB cblr-1731 425 7 by by ADP cblr-1731 425 8 devout devout ADJ cblr-1731 425 9 christians christian NOUN cblr-1731 425 10 , , PUNCT cblr-1731 425 11 observant observant ADJ cblr-1731 425 12 jews jews PROPN cblr-1731 425 13 , , PUNCT cblr-1731 425 14 and and CCONJ cblr-1731 425 15 practicing practice VERB cblr-1731 425 16 mormons mormon NOUN cblr-1731 425 17 , , PUNCT cblr-1731 425 18 as as ADV cblr-1731 425 19 well well ADV cblr-1731 425 20 as as ADP cblr-1731 425 21 agnostics agnostic NOUN cblr-1731 425 22 and and CCONJ cblr-1731 425 23 atheists atheist NOUN cblr-1731 425 24 , , PUNCT cblr-1731 425 25 americans americans PROPN cblr-1731 425 26 , , PUNCT cblr-1731 425 27 germans german NOUN cblr-1731 425 28 , , PUNCT cblr-1731 425 29 and and CCONJ cblr-1731 425 30 israelis israelis PROPN cblr-1731 425 31 , , PUNCT cblr-1731 425 32 totaling total VERB cblr-1731 425 33 nearly nearly ADV cblr-1731 425 34 350,000 350,000 NUM cblr-1731 425 35 employees employee NOUN cblr-1731 425 36 worldwide.100 worldwide.100 PROPN cblr-1731 425 37 buffett buffett PROPN cblr-1731 425 38 ’s ’s PART cblr-1731 425 39 condemnation condemnation NOUN cblr-1731 425 40 of of ADP cblr-1731 425 41 the the DET cblr-1731 425 42 financial financial ADJ cblr-1731 425 43 services service NOUN cblr-1731 425 44 industry industry NOUN cblr-1731 425 45 has have AUX cblr-1731 425 46 provoked provoke VERB cblr-1731 425 47 both both PRON cblr-1731 425 48 ire ire ADJ cblr-1731 425 49 and and CCONJ cblr-1731 425 50 charges charge NOUN cblr-1731 425 51 of of ADP cblr-1731 425 52 hypocrisy hypocrisy NOUN cblr-1731 425 53 . . PUNCT cblr-1731 426 1 one one NUM cblr-1731 426 2 - - PUNCT cblr-1731 426 3 third third NOUN cblr-1731 426 4 of of ADP cblr-1731 426 5 berkshire berkshire NOUN cblr-1731 426 6 ’s ’s PART cblr-1731 426 7 $ $ SYM cblr-1731 426 8 130 130 NUM cblr-1731 426 9 billion billion NUM cblr-1731 426 10 investment investment NOUN cblr-1731 426 11 portfolio portfolio NOUN cblr-1731 426 12 is be AUX cblr-1731 426 13 concentrated concentrate VERB cblr-1731 426 14 in in ADP cblr-1731 426 15 financial financial ADJ cblr-1731 426 16 intermediaries intermediary NOUN cblr-1731 426 17 , , PUNCT cblr-1731 426 18 including include VERB cblr-1731 426 19 longstanding longstande VERB cblr-1731 426 20 substantial substantial ADJ cblr-1731 426 21 positions position NOUN cblr-1731 426 22 in in ADP cblr-1731 426 23 american american PROPN cblr-1731 426 24 express express PROPN cblr-1731 426 25 and and CCONJ cblr-1731 426 26 wells wells PROPN cblr-1731 426 27 fargo fargo PROPN cblr-1731 426 28 , , PUNCT cblr-1731 426 29 plus plus CCONJ cblr-1731 426 30 stakes stake NOUN cblr-1731 426 31 in in ADP cblr-1731 426 32 controversial controversial ADJ cblr-1731 426 33 institutions institution NOUN cblr-1731 426 34 at at ADP cblr-1731 426 35 the the DET cblr-1731 426 36 center center NOUN cblr-1731 426 37 of of ADP cblr-1731 426 38 the the DET cblr-1731 426 39 2008 2008 NUM cblr-1731 426 40 financial financial ADJ cblr-1731 426 41 crisis crisis NOUN cblr-1731 426 42 like like ADP cblr-1731 426 43 bank bank PROPN cblr-1731 426 44 of of ADP cblr-1731 426 45 america america PROPN cblr-1731 426 46 and and CCONJ cblr-1731 426 47 moody’s.101 moody’s.101 PROPN cblr-1731 426 48 yet yet ADV cblr-1731 426 49 buffett buffett PROPN cblr-1731 426 50 lambasts lambast VERB cblr-1731 426 51 banks bank NOUN cblr-1731 426 52 and and CCONJ cblr-1731 426 53 other other ADJ cblr-1731 426 54 financial financial ADJ cblr-1731 426 55 intermediaries intermediary NOUN cblr-1731 426 56 for for ADP cblr-1731 426 57 both both DET cblr-1731 426 58 high high ADJ cblr-1731 426 59 fees fee NOUN cblr-1731 426 60 and and CCONJ cblr-1731 426 61 poor poor ADJ cblr-1731 426 62 services.102 services.102 PRON cblr-1731 426 63 similarly similarly ADV cblr-1731 426 64 , , PUNCT cblr-1731 426 65 as as SCONJ cblr-1731 426 66 noted note VERB cblr-1731 426 67 earlier early ADV cblr-1731 426 68 , , PUNCT cblr-1731 426 69 buffett buffett PROPN cblr-1731 426 70 is be AUX cblr-1731 426 71 a a DET cblr-1731 426 72 critic critic NOUN cblr-1731 426 73 of of ADP cblr-1731 426 74 private private ADJ cblr-1731 426 75 equity equity NOUN cblr-1731 426 76 companies company NOUN cblr-1731 426 77 , , PUNCT cblr-1731 426 78 yet yet CCONJ cblr-1731 426 79 partnered partner VERB cblr-1731 426 80 twice twice ADV cblr-1731 426 81 in in ADP cblr-1731 426 82 recent recent ADJ cblr-1731 426 83 years year NOUN cblr-1731 426 84 with with ADP cblr-1731 426 85 private private ADJ cblr-1731 426 86 equity equity NOUN cblr-1731 426 87 firm firm NOUN cblr-1731 426 88 3 3 NUM cblr-1731 426 89 g g NOUN cblr-1731 426 90 in in ADP cblr-1731 426 91 substantial substantial ADJ cblr-1731 426 92 acquisitions.103 acquisitions.103 NOUN cblr-1731 426 93 the the DET cblr-1731 426 94 perceived perceive VERB cblr-1731 426 95 wedge wedge NOUN cblr-1731 426 96 between between ADP cblr-1731 426 97 word word NOUN cblr-1731 426 98 and and CCONJ cblr-1731 426 99 deed deed NOUN cblr-1731 426 100 and and CCONJ cblr-1731 426 101 related relate VERB cblr-1731 426 102 criticism criticism NOUN cblr-1731 426 103 is be AUX cblr-1731 426 104 longstanding longstanding ADJ cblr-1731 426 105 . . 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PROPN cblr-1731 430 44 bancorp bancorp PROPN cblr-1731 430 45 , , PUNCT cblr-1731 430 46 and and CCONJ cblr-1731 430 47 wells wells PROPN cblr-1731 430 48 fargo fargo PROPN cblr-1731 430 49 , , PUNCT cblr-1731 430 50 aggregating aggregate VERB cblr-1731 430 51 to to ADP cblr-1731 430 52 $ $ SYM cblr-1731 430 53 50 50 NUM cblr-1731 430 54 billion billion NUM cblr-1731 430 55 ) ) PUNCT cblr-1731 430 56 . . 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PUNCT cblr-1731 439 1 for for ADP cblr-1731 439 2 example example NOUN cblr-1731 439 3 , , PUNCT cblr-1731 439 4 buffett buffett PROPN cblr-1731 439 5 has have AUX cblr-1731 439 6 said say VERB cblr-1731 439 7 and and CCONJ cblr-1731 439 8 written write VERB cblr-1731 439 9 about about ADP cblr-1731 439 10 the the DET cblr-1731 439 11 unfairness unfairness NOUN cblr-1731 439 12 of of ADP cblr-1731 439 13 the the DET cblr-1731 439 14 american american PROPN cblr-1731 439 15 tax tax PROPN cblr-1731 439 16 code code PROPN cblr-1731 439 17 , , PUNCT cblr-1731 439 18 famously famously ADV cblr-1731 439 19 saying say VERB cblr-1731 439 20 his his PRON cblr-1731 439 21 secretary secretary NOUN cblr-1731 439 22 pays pay VERB cblr-1731 439 23 more more ADJ cblr-1731 439 24 taxes taxis NOUN cblr-1731 439 25 than than SCONJ cblr-1731 439 26 he he PRON cblr-1731 439 27 does.105 does.105 VERB cblr-1731 439 28 yet yet ADV cblr-1731 439 29 berkshire berkshire PROPN cblr-1731 439 30 defers defer VERB cblr-1731 439 31 taxes taxis NOUN cblr-1731 439 32 through through ADP cblr-1731 439 33 lengthy lengthy ADJ cblr-1731 439 34 holding holding NOUN cblr-1731 439 35 periods period NOUN cblr-1731 439 36 , , PUNCT cblr-1731 439 37 finds find VERB cblr-1731 439 38 innumerable innumerable ADJ cblr-1731 439 39 ways way NOUN cblr-1731 439 40 to to PART cblr-1731 439 41 minimize minimize VERB cblr-1731 439 42 taxes taxis NOUN cblr-1731 439 43 and and CCONJ cblr-1731 439 44 maximize maximize VERB cblr-1731 439 45 tax tax NOUN cblr-1731 439 46 credits credit NOUN cblr-1731 439 47 , , PUNCT cblr-1731 439 48 and and CCONJ cblr-1731 439 49 pursues pursue VERB cblr-1731 439 50 tax tax NOUN cblr-1731 439 51 - - PUNCT cblr-1731 439 52 advantaged advantage VERB cblr-1731 439 53 transactions transaction NOUN cblr-1731 439 54 . . PUNCT cblr-1731 440 1 howls howl NOUN cblr-1731 440 2 of of ADP cblr-1731 440 3 hypocrisy hypocrisy NOUN cblr-1731 440 4 result result NOUN cblr-1731 440 5 which which PRON cblr-1731 440 6 , , PUNCT cblr-1731 440 7 of of ADP cblr-1731 440 8 course course NOUN cblr-1731 440 9 , , PUNCT cblr-1731 440 10 confuse confuse VERB cblr-1731 440 11 buffett buffett PROPN cblr-1731 440 12 the the DET cblr-1731 440 13 individual individual NOUN cblr-1731 440 14 with with ADP cblr-1731 440 15 berkshire berkshire PROPN cblr-1731 440 16 the the DET cblr-1731 440 17 company106 company106 PROPN cblr-1731 440 18 as as ADV cblr-1731 440 19 well well ADV cblr-1731 440 20 as as ADP cblr-1731 440 21 miss miss VERB cblr-1731 440 22 the the DET cblr-1731 440 23 difference difference NOUN cblr-1731 440 24 between between ADP cblr-1731 440 25 pure pure ADJ cblr-1731 440 26 tax tax NOUN cblr-1731 440 27 strategies strategy NOUN cblr-1731 440 28 and and CCONJ cblr-1731 440 29 the the DET cblr-1731 440 30 broader broad ADJ cblr-1731 440 31 investment investment NOUN cblr-1731 440 32 values value NOUN cblr-1731 440 33 berkshire berkshire NOUN cblr-1731 440 34 has have VERB cblr-1731 440 35 long long ADJ cblr-1731 440 36 adopted.107 adopted.107 NOUN cblr-1731 440 37 among among ADP cblr-1731 440 38 tax tax NOUN cblr-1731 440 39 - - PUNCT cblr-1731 440 40 advantaged advantaged ADJ cblr-1731 440 41 deals deal NOUN cblr-1731 440 42 that that PRON cblr-1731 440 43 could could AUX cblr-1731 440 44 equally equally ADV cblr-1731 440 45 be be AUX cblr-1731 440 46 explained explain VERB cblr-1731 440 47 by by ADP cblr-1731 440 48 berkshire berkshire PROPN cblr-1731 440 49 ’s ’s PART cblr-1731 440 50 fundamental fundamental ADJ cblr-1731 440 51 investment investment NOUN cblr-1731 440 52 philosophy philosophy NOUN cblr-1731 440 53 was be AUX cblr-1731 440 54 its its PRON cblr-1731 440 55 2014 2014 NUM cblr-1731 440 56 swap swap NOUN cblr-1731 440 57 of of ADP cblr-1731 440 58 long long ADJ cblr-1731 440 59 - - PUNCT cblr-1731 440 60 time time NOUN cblr-1731 440 61 holdings holding NOUN cblr-1731 440 62 in in ADP cblr-1731 440 63 the the DET cblr-1731 440 64 104 104 NUM cblr-1731 440 65 see see NOUN cblr-1731 440 66 dale dale PROPN cblr-1731 440 67 arthur arthur PROPN cblr-1731 440 68 oesterle oesterle PROPN cblr-1731 440 69 , , PUNCT cblr-1731 440 70 revisiting revisit VERB cblr-1731 440 71 the the DET cblr-1731 440 72 anti anti ADJ cblr-1731 440 73 - - ADJ cblr-1731 440 74 takeover takeover ADJ cblr-1731 440 75 fervor fervor NOUN cblr-1731 440 76 of of ADP cblr-1731 440 77 the the DET cblr-1731 440 78 ‘ ‘ NOUN cblr-1731 440 79 80s 80 NOUN cblr-1731 440 80 through through ADP cblr-1731 440 81 the the DET cblr-1731 440 82 letters letter NOUN cblr-1731 440 83 of of ADP cblr-1731 440 84 warren warren PROPN cblr-1731 440 85 buffett buffett PROPN cblr-1731 440 86 : : PUNCT cblr-1731 440 87 current current ADJ cblr-1731 440 88 acquisition acquisition NOUN cblr-1731 440 89 practice practice NOUN cblr-1731 440 90 is be AUX cblr-1731 440 91 clogged clog VERB cblr-1731 440 92 by by ADP cblr-1731 440 93 legal legal ADJ cblr-1731 440 94 flotsam flotsam NOUN cblr-1731 440 95 from from ADP cblr-1731 440 96 the the DET cblr-1731 440 97 decade decade NOUN cblr-1731 440 98 , , PUNCT cblr-1731 440 99 19 19 NUM cblr-1731 440 100 cardozo cardozo PROPN cblr-1731 440 101 l. l. 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PROPN cblr-1731 441 20 14 14 NUM cblr-1731 441 21 , , PUNCT cblr-1731 441 22 2011 2011 NUM cblr-1731 441 23 ) ) PUNCT cblr-1731 441 24 , , PUNCT cblr-1731 441 25 http://www.nytimes.com/2011/08/15/opinion/stop-coddlingthe-super-rich.html?_r=0 http://www.nytimes.com/2011/08/15/opinion/stop-coddlingthe-super-rich.html?_r=0 VERB cblr-1731 442 1 [ [ X cblr-1731 442 2 http://perma.cc/2jvs-xsfq http://perma.cc/2jvs-xsfq X cblr-1731 442 3 ] ] X cblr-1731 442 4 ; ; PUNCT cblr-1731 442 5 morris morris PROPN cblr-1731 442 6 propp propp PROPN cblr-1731 442 7 , , PUNCT cblr-1731 442 8 warren warren PROPN cblr-1731 442 9 buffett buffett PROPN cblr-1731 442 10 ’s ’s PART cblr-1731 442 11 nifty nifty ADJ cblr-1731 442 12 tax tax NOUN cblr-1731 442 13 loophole loophole NOUN cblr-1731 442 14 , , PUNCT cblr-1731 442 15 barron barron PROPN cblr-1731 442 16 ’s ’s PART cblr-1731 442 17 ( ( PUNCT cblr-1731 442 18 apr apr PROPN cblr-1731 442 19 . . PROPN cblr-1731 442 20 11 11 NUM cblr-1731 442 21 , , PUNCT cblr-1731 442 22 2015 2015 NUM cblr-1731 442 23 ) ) PUNCT cblr-1731 442 24 , , PUNCT cblr-1731 442 25 http://www.barrons.com/articles/warren-buffetts-nifty-tax-loophole1428726092 http://www.barrons.com/articles/warren-buffetts-nifty-tax-loophole1428726092 NOUN cblr-1731 442 26 # # NOUN cblr-1731 442 27 [ [ X cblr-1731 442 28 http://perma.cc/9zlh-yra8 http://perma.cc/9zlh-yra8 PROPN cblr-1731 442 29 ] ] PUNCT cblr-1731 442 30 . . 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PROPN cblr-1731 443 23 15 15 NUM cblr-1731 443 24 , , PUNCT cblr-1731 443 25 2011 2011 NUM cblr-1731 443 26 ) ) PUNCT cblr-1731 443 27 , , PUNCT cblr-1731 443 28 http://www.forbes.com/ http://www.forbes.com/ ADJ cblr-1731 443 29 sites site NOUN cblr-1731 443 30 / / SYM cblr-1731 443 31 timworstall/2011/08/15 timworstall/2011/08/15 NOUN cblr-1731 443 32 / / SYM cblr-1731 443 33 warren warren NOUN cblr-1731 443 34 - - PUNCT cblr-1731 443 35 buffetts buffetts PROPN cblr-1731 443 36 - - PUNCT cblr-1731 443 37 very very ADV cblr-1731 443 38 - - PUNCT cblr-1731 443 39 strange strange ADJ cblr-1731 443 40 - - PUNCT cblr-1731 443 41 tax tax NOUN cblr-1731 443 42 - - PUNCT cblr-1731 443 43 argument argument NOUN cblr-1731 443 44 [ [ X cblr-1731 443 45 http://perma.cc/z2w4-b9r2 http://perma.cc/z2w4-b9r2 X cblr-1731 443 46 ] ] X cblr-1731 443 47 . . 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PUNCT cblr-1731 446 1 selling sell VERB cblr-1731 446 2 that that DET cblr-1731 446 3 stock stock NOUN cblr-1731 446 4 for for ADP cblr-1731 446 5 cash cash NOUN cblr-1731 446 6 , , PUNCT cblr-1731 446 7 given give VERB cblr-1731 446 8 berkshire berkshire NOUN cblr-1731 446 9 ’s ’s PART cblr-1731 446 10 basis basis NOUN cblr-1731 446 11 of of ADP cblr-1731 446 12 $ $ SYM cblr-1731 446 13 336 336 NUM cblr-1731 446 14 million million NUM cblr-1731 446 15 and and CCONJ cblr-1731 446 16 a a DET cblr-1731 446 17 market market NOUN cblr-1731 446 18 value value NOUN cblr-1731 446 19 of of ADP cblr-1731 446 20 $ $ SYM cblr-1731 446 21 4.7 4.7 NUM cblr-1731 446 22 billion billion NUM cblr-1731 446 23 , , PUNCT cblr-1731 446 24 would would AUX cblr-1731 446 25 have have AUX cblr-1731 446 26 triggered trigger VERB cblr-1731 446 27 a a DET cblr-1731 446 28 tax tax NOUN cblr-1731 446 29 of of ADP cblr-1731 446 30 $ $ SYM cblr-1731 446 31 1.66 1.66 NUM cblr-1731 446 32 billion.109 billion.109 VERB cblr-1731 446 33 despite despite SCONJ cblr-1731 446 34 tax tax NOUN cblr-1731 446 35 advantages advantage NOUN cblr-1731 446 36 , , PUNCT cblr-1731 446 37 all all DET cblr-1731 446 38 such such ADJ cblr-1731 446 39 transactions transaction NOUN cblr-1731 446 40 reflect reflect VERB cblr-1731 446 41 berkshire berkshire PROPN cblr-1731 446 42 ’s ’s PART cblr-1731 446 43 longstanding longstanding ADJ cblr-1731 446 44 fundamental fundamental ADJ cblr-1731 446 45 values value NOUN cblr-1731 446 46 , , PUNCT cblr-1731 446 47 which which PRON cblr-1731 446 48 drive drive VERB cblr-1731 446 49 the the DET cblr-1731 446 50 decisions.110 decisions.110 ADJ cblr-1731 446 51 small small ADJ cblr-1731 446 52 companies company NOUN cblr-1731 446 53 might might AUX cblr-1731 446 54 be be AUX cblr-1731 446 55 the the DET cblr-1731 446 56 alter alter NOUN cblr-1731 446 57 egos ego NOUN cblr-1731 446 58 of of ADP cblr-1731 446 59 their their PRON cblr-1731 446 60 owners owner NOUN cblr-1731 446 61 , , PUNCT cblr-1731 446 62 as as SCONJ cblr-1731 446 63 the the DET cblr-1731 446 64 supreme supreme PROPN cblr-1731 446 65 court court PROPN cblr-1731 446 66 held hold VERB cblr-1731 446 67 in in ADP cblr-1731 446 68 the the DET cblr-1731 446 69 hobby hobby ADJ cblr-1731 446 70 lobby lobby NOUN cblr-1731 446 71 case case NOUN cblr-1731 446 72 , , PUNCT cblr-1731 446 73 saying say VERB cblr-1731 446 74 they they PRON cblr-1731 446 75 have have VERB cblr-1731 446 76 constitutional constitutional ADJ cblr-1731 446 77 rights right NOUN cblr-1731 446 78 to to ADP cblr-1731 446 79 the the DET cblr-1731 446 80 free free ADJ cblr-1731 446 81 exercise exercise NOUN cblr-1731 446 82 of of ADP cblr-1731 446 83 religion.111 religion.111 PROPN cblr-1731 446 84 but but CCONJ cblr-1731 446 85 large large ADJ cblr-1731 446 86 companies company NOUN cblr-1731 446 87 like like ADP cblr-1731 446 88 berkshire berkshire NOUN cblr-1731 446 89 are be AUX cblr-1731 446 90 not not PART cblr-1731 446 91 the the DET cblr-1731 446 92 dummies dummy NOUN cblr-1731 446 93 of of ADP cblr-1731 446 94 their their PRON cblr-1731 446 95 leaders leader NOUN cblr-1731 446 96 and and CCONJ cblr-1731 446 97 corporate corporate ADJ cblr-1731 446 98 decisions decision NOUN cblr-1731 446 99 are be AUX cblr-1731 446 100 not not PART cblr-1731 446 101 political political ADJ cblr-1731 446 102 statements statement NOUN cblr-1731 446 103 . . 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PUNCT cblr-1731 450 1 109 109 NUM cblr-1731 450 2 see see VERB cblr-1731 450 3 allan allan PROPN cblr-1731 450 4 sloan sloan PROPN cblr-1731 450 5 , , PUNCT cblr-1731 450 6 it it PRON cblr-1731 450 7 ’s ’ VERB cblr-1731 450 8 not not PART cblr-1731 450 9 hard hard ADJ cblr-1731 450 10 to to PART cblr-1731 450 11 close close VERB cblr-1731 450 12 the the DET cblr-1731 450 13 cash cash NOUN cblr-1731 450 14 - - PUNCT cblr-1731 450 15 rich rich ADJ cblr-1731 450 16 split split NOUN cblr-1731 450 17 - - PUNCT cblr-1731 450 18 off off ADP cblr-1731 450 19 loophole loophole NOUN cblr-1731 450 20 , , PUNCT cblr-1731 450 21 wash wash NOUN cblr-1731 450 22 . . PUNCT cblr-1731 451 1 post post NOUN cblr-1731 451 2 ( ( PUNCT cblr-1731 451 3 jan jan PROPN cblr-1731 451 4 . . 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PROPN cblr-1731 452 27 11 11 NUM cblr-1731 452 28 , , PUNCT cblr-1731 452 29 2014 2014 NUM cblr-1731 452 30 , , PUNCT cblr-1731 452 31 1:00 1:00 NUM cblr-1731 452 32 am am NOUN cblr-1731 452 33 ) ) PUNCT cblr-1731 452 34 , , PUNCT cblr-1731 452 35 http://www.omaha.com/money/stock-for-company-duracell-deal-foll http://www.omaha.com/money/stock-for-company-duracell-deal-foll PROPN cblr-1731 452 36 ows ows PROPN cblr-1731 452 37 - - PUNCT cblr-1731 452 38 berkshire berkshire NOUN cblr-1731 452 39 - - PUNCT cblr-1731 452 40 pattern pattern NOUN cblr-1731 452 41 / / SYM cblr-1731 452 42 article_ea6cc45d article_ea6cc45d PROPN cblr-1731 452 43 - - PUNCT cblr-1731 452 44 a97c-561e-9e36 a97c-561e-9e36 NOUN cblr-1731 452 45 - - NOUN cblr-1731 452 46 fefd57991e9d.html fefd57991e9d.html PRON cblr-1731 453 1 [ [ X cblr-1731 453 2 http://perma.cc/h983-8tj8 http://perma.cc/h983-8tj8 NOUN cblr-1731 453 3 ] ] X cblr-1731 453 4 . . 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PROPN cblr-1731 454 18 13 13 NUM cblr-1731 454 19 , , PUNCT cblr-1731 454 20 2014 2014 NUM cblr-1731 454 21 , , PUNCT cblr-1731 454 22 7:50 7:50 NUM cblr-1731 454 23 am am NOUN cblr-1731 454 24 ) ) PUNCT cblr-1731 454 25 , , PUNCT cblr-1731 454 26 http://americasmarkets.usatoday.com/2014/ http://americasmarkets.usatoday.com/2014/ NOUN cblr-1731 455 1 11/13 11/13 NUM cblr-1731 455 2 / / SYM cblr-1731 455 3 buffett buffett PROPN cblr-1731 455 4 - - PUNCT cblr-1731 455 5 snaps snap NOUN cblr-1731 455 6 - - PUNCT cblr-1731 455 7 up up ADP cblr-1731 455 8 - - PUNCT cblr-1731 455 9 duracell duracell NOUN cblr-1731 455 10 - - PUNCT cblr-1731 455 11 from from ADP cblr-1731 455 12 - - PUNCT cblr-1731 455 13 pg pg NOUN cblr-1731 455 14 [ [ X cblr-1731 455 15 http://perma.cc/l6wx-fwey http://perma.cc/l6wx-fwey X cblr-1731 455 16 ] ] X cblr-1731 455 17 ( ( PUNCT cblr-1731 455 18 quoting quote VERB cblr-1731 455 19 the the DET cblr-1731 455 20 author author NOUN cblr-1731 455 21 to to ADP cblr-1731 455 22 the the DET cblr-1731 455 23 foregoing forego VERB cblr-1731 455 24 effect effect NOUN cblr-1731 455 25 and and CCONJ cblr-1731 455 26 adding add VERB cblr-1731 455 27 the the DET cblr-1731 455 28 example example NOUN cblr-1731 455 29 of of ADP cblr-1731 455 30 berkshire berkshire NOUN cblr-1731 455 31 ’s ’s PART cblr-1731 455 32 swap swap NOUN cblr-1731 455 33 of of ADP cblr-1731 455 34 a a DET cblr-1731 455 35 minority minority NOUN cblr-1731 455 36 stake stake NOUN cblr-1731 455 37 in in ADP cblr-1731 455 38 phillips phillip NOUN cblr-1731 455 39 66 66 NUM cblr-1731 455 40 for for ADP cblr-1731 455 41 all all DET cblr-1731 455 42 assets asset NOUN cblr-1731 455 43 of of ADP cblr-1731 455 44 a a DET cblr-1731 455 45 pipeline pipeline NOUN cblr-1731 455 46 lubricant lubricant NOUN cblr-1731 455 47 business business NOUN cblr-1731 455 48 ) ) PUNCT cblr-1731 455 49 . . 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PUNCT cblr-1731 459 1 given give VERB cblr-1731 459 2 its its PRON cblr-1731 459 3 size size NOUN cblr-1731 459 4 , , PUNCT cblr-1731 459 5 it it PRON cblr-1731 459 6 is be AUX cblr-1731 459 7 no no DET cblr-1731 459 8 surprise surprise NOUN cblr-1731 459 9 that that SCONJ cblr-1731 459 10 berkshire berkshire NOUN cblr-1731 459 11 shareholders shareholder NOUN cblr-1731 459 12 are be AUX cblr-1731 459 13 diverse diverse ADJ cblr-1731 459 14 politically politically ADV cblr-1731 459 15 and and CCONJ cblr-1731 459 16 , , PUNCT cblr-1731 459 17 while while SCONJ cblr-1731 459 18 most most ADJ cblr-1731 459 19 concur concur VERB cblr-1731 459 20 with with ADP cblr-1731 459 21 berkshire berkshire NOUN cblr-1731 459 22 policies policy NOUN cblr-1731 459 23 and and CCONJ cblr-1731 459 24 buffett buffett PROPN cblr-1731 459 25 ’s ’s PART cblr-1731 459 26 business business NOUN cblr-1731 459 27 philosophy philosophy NOUN cblr-1731 459 28 , , PUNCT cblr-1731 459 29 they they PRON cblr-1731 459 30 do do AUX cblr-1731 459 31 not not PART cblr-1731 459 32 invariably invariably ADV cblr-1731 459 33 agree agree VERB cblr-1731 459 34 with with ADP cblr-1731 459 35 buffett buffett PROPN cblr-1731 459 36 ’s ’s PART cblr-1731 459 37 political political ADJ cblr-1731 459 38 views.112 views.112 NOUN cblr-1731 459 39 the the DET cblr-1731 459 40 alter alter NOUN cblr-1731 459 41 ego ego NOUN cblr-1731 459 42 phenomenon phenomenon NOUN cblr-1731 459 43 has have AUX cblr-1731 459 44 produced produce VERB cblr-1731 459 45 both both DET cblr-1731 459 46 berkshire berkshire NOUN cblr-1731 459 47 ’s ’s PART cblr-1731 459 48 greatest great ADJ cblr-1731 459 49 value value NOUN cblr-1731 459 50 and and CCONJ cblr-1731 459 51 ultimate ultimate ADJ cblr-1731 459 52 cost cost NOUN cblr-1731 459 53 : : PUNCT cblr-1731 459 54 buffett buffett PROPN cblr-1731 459 55 made make VERB cblr-1731 459 56 the the DET cblr-1731 459 57 company company NOUN cblr-1731 459 58 great great ADJ cblr-1731 459 59 and and CCONJ cblr-1731 459 60 his his PRON cblr-1731 459 61 eventual eventual ADJ cblr-1731 459 62 departure departure NOUN cblr-1731 459 63 raises raise VERB cblr-1731 459 64 questions question NOUN cblr-1731 459 65 about about ADP cblr-1731 459 66 succession succession NOUN cblr-1731 459 67 in in ADP cblr-1731 459 68 a a DET cblr-1731 459 69 way way NOUN cblr-1731 459 70 that that PRON cblr-1731 459 71 other other ADJ cblr-1731 459 72 executive executive ADJ cblr-1731 459 73 succession succession NOUN cblr-1731 459 74 plans plan NOUN cblr-1731 459 75 do do VERB cblr-1731 459 76 not not PART cblr-1731 459 77 . . PUNCT cblr-1731 460 1 berkshire berkshire PROPN cblr-1731 460 2 can can AUX cblr-1731 460 3 not not PART cblr-1731 460 4 be be AUX cblr-1731 460 5 replicated replicate VERB cblr-1731 460 6 , , PUNCT cblr-1731 460 7 and and CCONJ cblr-1731 460 8 the the DET cblr-1731 460 9 man man NOUN cblr-1731 460 10 can can AUX cblr-1731 460 11 not not PART cblr-1731 460 12 be be AUX cblr-1731 460 13 replaced replace VERB cblr-1731 460 14 . . PUNCT cblr-1731 461 1 critics critic NOUN cblr-1731 461 2 say say VERB cblr-1731 461 3 the the DET cblr-1731 461 4 company company NOUN cblr-1731 461 5 can can AUX cblr-1731 461 6 not not PART cblr-1731 461 7 survive survive VERB cblr-1731 461 8 without without ADP cblr-1731 461 9 him he PRON cblr-1731 461 10 . . PUNCT cblr-1731 462 1 for for ADP cblr-1731 462 2 example example NOUN cblr-1731 462 3 , , PUNCT cblr-1731 462 4 the the DET cblr-1731 462 5 economist economist NOUN cblr-1731 462 6 wrote write VERB cblr-1731 462 7 , , PUNCT cblr-1731 462 8 as as SCONJ cblr-1731 462 9 buffett buffett PROPN cblr-1731 462 10 became become VERB cblr-1731 462 11 an an DET cblr-1731 462 12 octogenarian octogenarian NOUN cblr-1731 462 13 , , PUNCT cblr-1731 462 14 that that DET cblr-1731 462 15 berkshire berkshire NOUN cblr-1731 462 16 was be AUX cblr-1731 462 17 down down ADV cblr-1731 462 18 to to ADP cblr-1731 462 19 “ " PUNCT cblr-1731 462 20 playing play VERB cblr-1731 462 21 out out ADP cblr-1731 462 22 the the DET cblr-1731 462 23 last last ADJ cblr-1731 462 24 hand hand NOUN cblr-1731 462 25 , , PUNCT cblr-1731 462 26 ” " PUNCT cblr-1731 462 27 contending contend VERB cblr-1731 462 28 that that SCONJ cblr-1731 462 29 in in ADP cblr-1731 462 30 holding hold VERB cblr-1731 462 31 the the DET cblr-1731 462 32 contrary contrary ADJ cblr-1731 462 33 view view NOUN cblr-1731 462 34 , , PUNCT cblr-1731 462 35 i i PRON cblr-1731 462 36 am be AUX cblr-1731 462 37 “ " PUNCT cblr-1731 462 38 too too ADV cblr-1731 462 39 easily easily ADV cblr-1731 462 40 convinced convinced ADJ cblr-1731 462 41 . . PUNCT cblr-1731 462 42 . . PUNCT cblr-1731 462 43 . . PUNCT cblr-1731 463 1 .”113 .”113 PROPN cblr-1731 464 1 steven steven PROPN cblr-1731 464 2 davidoff davidoff PROPN cblr-1731 464 3 solomon solomon PROPN cblr-1731 464 4 in in ADP cblr-1731 464 5 the the DET cblr-1731 464 6 new new PROPN cblr-1731 464 7 york york PROPN cblr-1731 464 8 times times PROPN cblr-1731 464 9 lamented lament VERB cblr-1731 464 10 that that SCONJ cblr-1731 464 11 buffett buffett PROPN cblr-1731 464 12 graced graced PROPN cblr-1731 464 13 berkshire berkshire NOUN cblr-1731 464 14 with with ADP cblr-1731 464 15 an an DET cblr-1731 464 16 irreplaceable irreplaceable ADJ cblr-1731 464 17 magic magic NOUN cblr-1731 464 18 touch.114 touch.114 NOUN cblr-1731 464 19 at at ADP cblr-1731 464 20 berkshire berkshire PROPN cblr-1731 464 21 ’s ’s PART cblr-1731 464 22 2013 2013 NUM cblr-1731 464 23 annual annual ADJ cblr-1731 464 24 meeting meeting NOUN cblr-1731 464 25 , , PUNCT cblr-1731 464 26 investor investor NOUN cblr-1731 464 27 douglas douglas PROPN cblr-1731 464 28 kass kass PROPN cblr-1731 464 29 asserted assert VERB cblr-1731 464 30 his his PRON cblr-1731 464 31 belief belief NOUN cblr-1731 464 32 that that SCONJ cblr-1731 464 33 berkshire berkshire NOUN cblr-1731 464 34 is be AUX cblr-1731 464 35 no no PRON cblr-1731 464 36 more more ADV cblr-1731 464 37 likely likely ADJ cblr-1731 464 38 to to PART cblr-1731 464 39 survive survive VERB cblr-1731 464 40 without without ADP cblr-1731 464 41 buffett buffett PROPN cblr-1731 464 42 than than SCONJ cblr-1731 464 43 teledyne teledyne PROPN cblr-1731 464 44 was be AUX cblr-1731 464 45 without without SCONJ cblr-1731 464 46 henry henry PROPN cblr-1731 464 47 singleton.115 singleton.115 PROPN cblr-1731 464 48 112 112 NUM cblr-1731 464 49 see see VERB cblr-1731 464 50 luciana luciana PROPN cblr-1731 464 51 lopez lopez PROPN cblr-1731 464 52 , , PUNCT cblr-1731 464 53 where where SCONJ cblr-1731 464 54 shareholders shareholder NOUN cblr-1731 464 55 disagree disagree VERB cblr-1731 464 56 with with ADP cblr-1731 464 57 buffett buffett PROPN cblr-1731 464 58 : : PUNCT cblr-1731 464 59 politics politic NOUN cblr-1731 464 60 , , PUNCT cblr-1731 464 61 reuters reuters PROPN cblr-1731 464 62 ( ( PUNCT cblr-1731 464 63 may may PROPN cblr-1731 464 64 4 4 NUM cblr-1731 464 65 , , PUNCT cblr-1731 464 66 2015 2015 NUM cblr-1731 464 67 ) ) PUNCT cblr-1731 464 68 , , PUNCT cblr-1731 464 69 http://blogs.reuters.com/talesfromthetrail/ http://blogs.reuters.com/talesfromthetrail/ ADP cblr-1731 464 70 2015/05/04 2015/05/04 NUM cblr-1731 464 71 / / SYM cblr-1731 464 72 where where SCONJ cblr-1731 464 73 - - PUNCT cblr-1731 464 74 shareholders shareholder NOUN cblr-1731 464 75 - - PUNCT cblr-1731 464 76 disagree disagree VERB cblr-1731 464 77 - - PUNCT cblr-1731 464 78 with with ADP cblr-1731 464 79 - - PUNCT cblr-1731 464 80 buffett buffett NOUN cblr-1731 464 81 - - PUNCT cblr-1731 464 82 politics politic NOUN cblr-1731 464 83 [ [ X cblr-1731 464 84 http://per http://per X cblr-1731 464 85 ma.cc/2hgl-5eb3 ma.cc/2hgl-5eb3 NOUN cblr-1731 464 86 ] ] X cblr-1731 464 87 . . 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NOUN cblr-1731 471 6 1:1 1:1 NUM cblr-1731 471 7 ] ] PUNCT cblr-1731 471 8 berkshire berkshire NOUN cblr-1731 471 9 ’s ’s PART cblr-1731 471 10 blemishes blemish NOUN cblr-1731 471 11 39 39 NUM cblr-1731 471 12 if if SCONJ cblr-1731 471 13 the the DET cblr-1731 471 14 critics critic NOUN cblr-1731 471 15 are be AUX cblr-1731 471 16 right right ADJ cblr-1731 471 17 , , PUNCT cblr-1731 471 18 that that PRON cblr-1731 471 19 is be AUX cblr-1731 471 20 a a DET cblr-1731 471 21 huge huge ADJ cblr-1731 471 22 cost cost NOUN cblr-1731 471 23 . . PUNCT cblr-1731 472 1 even even ADV cblr-1731 472 2 if if SCONJ cblr-1731 472 3 they they PRON cblr-1731 472 4 prove prove VERB cblr-1731 472 5 incorrect incorrect ADJ cblr-1731 472 6 , , PUNCT cblr-1731 472 7 the the DET cblr-1731 472 8 fact fact NOUN cblr-1731 472 9 that that SCONJ cblr-1731 472 10 such such DET cblr-1731 472 11 a a DET cblr-1731 472 12 perception perception NOUN cblr-1731 472 13 is be AUX cblr-1731 472 14 widely widely ADV cblr-1731 472 15 held hold VERB cblr-1731 472 16 is be AUX cblr-1731 472 17 a a DET cblr-1731 472 18 modest modest ADJ cblr-1731 472 19 cost cost NOUN cblr-1731 472 20 . . PUNCT cblr-1731 473 1 f. f. PROPN cblr-1731 473 2 miscellaneous miscellaneous PROPN cblr-1731 473 3 : : PUNCT cblr-1731 473 4 public public ADJ cblr-1731 473 5 family family NOUN cblr-1731 473 6 firms firm NOUN cblr-1731 473 7 and and CCONJ cblr-1731 473 8 the the DET cblr-1731 473 9 tenure tenure NOUN cblr-1731 473 10 myth myth VERB cblr-1731 473 11 certain certain ADJ cblr-1731 473 12 problems problem NOUN cblr-1731 473 13 and and CCONJ cblr-1731 473 14 costs cost NOUN cblr-1731 473 15 are be AUX cblr-1731 473 16 not not PART cblr-1731 473 17 easy easy ADJ cblr-1731 473 18 to to PART cblr-1731 473 19 classify classify VERB cblr-1731 473 20 and and CCONJ cblr-1731 473 21 there there PRON cblr-1731 473 22 may may AUX cblr-1731 473 23 be be AUX cblr-1731 473 24 costs cost NOUN cblr-1731 473 25 other other ADJ cblr-1731 473 26 than than ADP cblr-1731 473 27 those those PRON cblr-1731 473 28 identified identify VERB cblr-1731 473 29 above above ADP cblr-1731 473 30 that that DET cblr-1731 473 31 warrant warrant NOUN cblr-1731 473 32 attention attention NOUN cblr-1731 473 33 . . PUNCT cblr-1731 474 1 for for ADP cblr-1731 474 2 one one NUM cblr-1731 474 3 , , PUNCT cblr-1731 474 4 as as SCONJ cblr-1731 474 5 taught teach VERB cblr-1731 474 6 by by ADP cblr-1731 474 7 the the DET cblr-1731 474 8 dexter dexter NOUN cblr-1731 474 9 and and CCONJ cblr-1731 474 10 gen gen PROPN cblr-1731 474 11 re re NOUN cblr-1731 474 12 deals deal NOUN cblr-1731 474 13 , , PUNCT cblr-1731 474 14 using use VERB cblr-1731 474 15 cash cash NOUN cblr-1731 474 16 avoids avoid VERB cblr-1731 474 17 amplifying amplify VERB cblr-1731 474 18 the the DET cblr-1731 474 19 cost cost NOUN cblr-1731 474 20 of of ADP cblr-1731 474 21 mistaken mistaken ADJ cblr-1731 474 22 acquisitions acquisition NOUN cblr-1731 474 23 . . PUNCT cblr-1731 475 1 while while SCONJ cblr-1731 475 2 undoubtedly undoubtedly ADV cblr-1731 475 3 beneficial beneficial ADJ cblr-1731 475 4 , , PUNCT cblr-1731 475 5 this this DET cblr-1731 475 6 feature feature NOUN cblr-1731 475 7 of of ADP cblr-1731 475 8 the the DET cblr-1731 475 9 berkshire berkshire NOUN cblr-1731 475 10 model model NOUN cblr-1731 475 11 also also ADV cblr-1731 475 12 presents present VERB cblr-1731 475 13 a a DET cblr-1731 475 14 cost cost NOUN cblr-1731 475 15 that that PRON cblr-1731 475 16 manifests manifest NOUN cblr-1731 475 17 whenever whenever SCONJ cblr-1731 475 18 paying pay VERB cblr-1731 475 19 stock stock NOUN cblr-1731 475 20 would would AUX cblr-1731 475 21 produce produce VERB cblr-1731 475 22 advantages advantage NOUN cblr-1731 475 23 in in ADP cblr-1731 475 24 a a DET cblr-1731 475 25 transaction transaction NOUN cblr-1731 475 26 . . PUNCT cblr-1731 476 1 that that PRON cblr-1731 476 2 happens happen VERB cblr-1731 476 3 when when SCONJ cblr-1731 476 4 the the DET cblr-1731 476 5 selling sell VERB cblr-1731 476 6 shareholders shareholder NOUN cblr-1731 476 7 value value NOUN cblr-1731 476 8 stock stock NOUN cblr-1731 476 9 more more ADJ cblr-1731 476 10 than than ADP cblr-1731 476 11 cash cash NOUN cblr-1731 476 12 . . PUNCT cblr-1731 477 1 for for ADP cblr-1731 477 2 example example NOUN cblr-1731 477 3 , , PUNCT cblr-1731 477 4 where where SCONJ cblr-1731 477 5 selling sell VERB cblr-1731 477 6 shareholders shareholder NOUN cblr-1731 477 7 ’ ' PUNCT cblr-1731 477 8 tax tax NOUN cblr-1731 477 9 basis basis NOUN cblr-1731 477 10 is be AUX cblr-1731 477 11 low low ADJ cblr-1731 477 12 , , PUNCT cblr-1731 477 13 receiving receive VERB cblr-1731 477 14 shares share NOUN cblr-1731 477 15 defers defer VERB cblr-1731 477 16 significant significant ADJ cblr-1731 477 17 taxes taxis NOUN cblr-1731 477 18 that that PRON cblr-1731 477 19 would would AUX cblr-1731 477 20 be be AUX cblr-1731 477 21 due due ADJ cblr-1731 477 22 if if SCONJ cblr-1731 477 23 sold sell VERB cblr-1731 477 24 for for ADP cblr-1731 477 25 cash cash NOUN cblr-1731 477 26 . . PUNCT cblr-1731 478 1 the the DET cblr-1731 478 2 cost cost NOUN cblr-1731 478 3 to to PART cblr-1731 478 4 berkshire berkshire VERB cblr-1731 478 5 of of ADP cblr-1731 478 6 preferring prefer VERB cblr-1731 478 7 paying pay VERB cblr-1731 478 8 in in ADP cblr-1731 478 9 cash cash NOUN cblr-1731 478 10 rather rather ADV cblr-1731 478 11 than than ADP cblr-1731 478 12 stock stock NOUN cblr-1731 478 13 is be AUX cblr-1731 478 14 most most ADV cblr-1731 478 15 acute acute ADJ cblr-1731 478 16 in in ADP cblr-1731 478 17 the the DET cblr-1731 478 18 context context NOUN cblr-1731 478 19 of of ADP cblr-1731 478 20 targets target NOUN cblr-1731 478 21 that that PRON cblr-1731 478 22 are be AUX cblr-1731 478 23 publicly publicly ADV cblr-1731 478 24 traded trade VERB cblr-1731 478 25 family family NOUN cblr-1731 478 26 businesses business NOUN cblr-1731 478 27 . . PUNCT cblr-1731 479 1 family family NOUN cblr-1731 479 2 businesses business NOUN cblr-1731 479 3 appeal appeal VERB cblr-1731 479 4 to to PART cblr-1731 479 5 berkshire berkshire VERB cblr-1731 479 6 as as SCONJ cblr-1731 479 7 they they PRON cblr-1731 479 8 often often ADV cblr-1731 479 9 bring bring VERB cblr-1731 479 10 a a DET cblr-1731 479 11 sense sense NOUN cblr-1731 479 12 of of ADP cblr-1731 479 13 legacy legacy NOUN cblr-1731 479 14 and and CCONJ cblr-1731 479 15 permanence permanence NOUN cblr-1731 479 16 that that PRON cblr-1731 479 17 is be AUX cblr-1731 479 18 central central ADJ cblr-1731 479 19 to to ADP cblr-1731 479 20 the the DET cblr-1731 479 21 berkshire berkshire PROPN cblr-1731 479 22 business business NOUN cblr-1731 479 23 model model NOUN cblr-1731 479 24 . . PUNCT cblr-1731 480 1 many many ADJ cblr-1731 480 2 families family NOUN cblr-1731 480 3 prize prize PROPN cblr-1731 480 4 berkshire berkshire PROPN cblr-1731 480 5 ’s ’s PART cblr-1731 480 6 commitments commitment NOUN cblr-1731 480 7 to to ADP cblr-1731 480 8 autonomy autonomy NOUN cblr-1731 480 9 and and CCONJ cblr-1731 480 10 permanence permanence NOUN cblr-1731 480 11 , , PUNCT cblr-1731 480 12 often often ADV cblr-1731 480 13 selling sell VERB cblr-1731 480 14 to to PART cblr-1731 480 15 berkshire berkshire VERB cblr-1731 480 16 for for ADP cblr-1731 480 17 less less ADJ cblr-1731 480 18 than than ADP cblr-1731 480 19 rival rival ADJ cblr-1731 480 20 bids bid NOUN cblr-1731 480 21 or or CCONJ cblr-1731 480 22 intrinsic intrinsic ADJ cblr-1731 480 23 value value NOUN cblr-1731 480 24 . . PUNCT cblr-1731 481 1 for for ADP cblr-1731 481 2 family family NOUN cblr-1731 481 3 businesses business NOUN cblr-1731 481 4 owned own VERB cblr-1731 481 5 solely solely ADV cblr-1731 481 6 by by ADP cblr-1731 481 7 close close ADV cblr-1731 481 8 - - PUNCT cblr-1731 481 9 knit knit VERB cblr-1731 481 10 groups group NOUN cblr-1731 481 11 who who PRON cblr-1731 481 12 all all PRON cblr-1731 481 13 wish wish VERB cblr-1731 481 14 to to PART cblr-1731 481 15 sell sell VERB cblr-1731 481 16 to to ADP cblr-1731 481 17 berkshire berkshire NOUN cblr-1731 481 18 , , PUNCT cblr-1731 481 19 the the DET cblr-1731 481 20 cash cash NOUN cblr-1731 481 21 preference preference NOUN cblr-1731 481 22 at at ADP cblr-1731 481 23 a a DET cblr-1731 481 24 discount discount NOUN cblr-1731 481 25 creates create VERB cblr-1731 481 26 no no DET cblr-1731 481 27 problems problem NOUN cblr-1731 481 28 . . PUNCT cblr-1731 482 1 but but CCONJ cblr-1731 482 2 problems problem NOUN cblr-1731 482 3 arise arise VERB cblr-1731 482 4 for for ADP cblr-1731 482 5 publicly publicly ADV cblr-1731 482 6 traded trade VERB cblr-1731 482 7 family family NOUN cblr-1731 482 8 businesses business NOUN cblr-1731 482 9 . . PUNCT cblr-1731 483 1 when when SCONJ cblr-1731 483 2 directors director NOUN cblr-1731 483 3 of of ADP cblr-1731 483 4 such such ADJ cblr-1731 483 5 companies company NOUN cblr-1731 483 6 sell sell VERB cblr-1731 483 7 control control NOUN cblr-1731 483 8 , , PUNCT cblr-1731 483 9 they they PRON cblr-1731 483 10 are be AUX cblr-1731 483 11 dutybound dutybound ADJ cblr-1731 483 12 to to PART cblr-1731 483 13 get get VERB cblr-1731 483 14 the the DET cblr-1731 483 15 best good ADJ cblr-1731 483 16 value value NOUN cblr-1731 483 17 for for ADP cblr-1731 483 18 shareholders.116 shareholders.116 ADJ cblr-1731 483 19 in in ADP cblr-1731 483 20 a a DET cblr-1731 483 21 stock stock NOUN cblr-1731 483 22 deal deal NOUN cblr-1731 483 23 where where SCONJ cblr-1731 483 24 all all DET cblr-1731 483 25 holders holder NOUN cblr-1731 483 26 share share VERB cblr-1731 483 27 gains gain NOUN cblr-1731 483 28 in in ADP cblr-1731 483 29 future future ADJ cblr-1731 483 30 business business NOUN cblr-1731 483 31 value value NOUN cblr-1731 483 32 , , PUNCT cblr-1731 483 33 those those DET cblr-1731 483 34 directors director NOUN cblr-1731 483 35 could could AUX cblr-1731 483 36 consider consider VERB cblr-1731 483 37 berkshire berkshire NOUN cblr-1731 483 38 ’s ’s PART cblr-1731 483 39 special special ADJ cblr-1731 483 40 culture culture NOUN cblr-1731 483 41 in in ADP cblr-1731 483 42 valuing value VERB cblr-1731 483 43 the the DET cblr-1731 483 44 transaction.117 transaction.117 NOUN cblr-1731 483 45 but but CCONJ cblr-1731 483 46 with with ADP cblr-1731 483 47 cash cash NOUN cblr-1731 483 48 , , PUNCT cblr-1731 483 49 all all DET cblr-1731 483 50 such such ADJ cblr-1731 483 51 future future ADJ cblr-1731 483 52 value value NOUN cblr-1731 483 53 goes go VERB cblr-1731 483 54 to to ADP cblr-1731 483 55 berkshire berkshire PROPN cblr-1731 483 56 ’s ’s PART cblr-1731 483 57 shareholders shareholder NOUN cblr-1731 483 58 , , PUNCT cblr-1731 483 59 not not PART cblr-1731 483 60 the the DET cblr-1731 483 61 target target NOUN cblr-1731 483 62 ’s ’s PART cblr-1731 483 63 116 116 NUM cblr-1731 483 64 see see NOUN cblr-1731 483 65 revlon revlon PROPN cblr-1731 483 66 , , PUNCT cblr-1731 483 67 inc inc PROPN cblr-1731 483 68 . . PROPN cblr-1731 484 1 v. v. ADP cblr-1731 484 2 macandrews macandrews PROPN cblr-1731 484 3 & & CCONJ cblr-1731 484 4 forbes forbes PROPN cblr-1731 484 5 holdings holdings PROPN cblr-1731 484 6 , , PUNCT cblr-1731 484 7 inc inc PROPN cblr-1731 484 8 . . PROPN cblr-1731 484 9 , , PUNCT cblr-1731 484 10 506 506 NUM cblr-1731 484 11 a.2d a.2d SYM cblr-1731 484 12 173 173 NUM cblr-1731 484 13 , , PUNCT cblr-1731 484 14 182 182 NUM cblr-1731 484 15 ( ( PUNCT cblr-1731 484 16 del del PROPN cblr-1731 484 17 . . PROPN cblr-1731 484 18 1986 1986 NUM cblr-1731 484 19 ) ) PUNCT cblr-1731 484 20 . . PUNCT cblr-1731 485 1 117 117 NUM cblr-1731 485 2 see see VERB cblr-1731 485 3 paramount paramount PROPN cblr-1731 485 4 communications communications PROPN cblr-1731 485 5 , , PUNCT cblr-1731 485 6 inc inc PROPN cblr-1731 485 7 . . PROPN cblr-1731 486 1 v. v. ADP cblr-1731 486 2 time time PROPN cblr-1731 486 3 , , PUNCT cblr-1731 486 4 inc inc PROPN cblr-1731 486 5 . . PROPN cblr-1731 486 6 , , PUNCT cblr-1731 486 7 571 571 NUM cblr-1731 486 8 a.2d a.2d SYM cblr-1731 486 9 1140 1140 NUM cblr-1731 486 10 , , PUNCT cblr-1731 486 11 1151 1151 NUM cblr-1731 486 12 ( ( PUNCT cblr-1731 486 13 del del PROPN cblr-1731 486 14 . . PROPN cblr-1731 486 15 1989 1989 NUM cblr-1731 486 16 ) ) PUNCT cblr-1731 486 17 . . PUNCT cblr-1731 487 1 cunningham cunningham PROPN cblr-1731 487 2 – – PUNCT cblr-1731 487 3 final final ADJ cblr-1731 487 4 40 40 NUM cblr-1731 487 5 columbia columbia PROPN cblr-1731 487 6 business business NOUN cblr-1731 487 7 law law NOUN cblr-1731 487 8 review review NOUN cblr-1731 488 1 [ [ X cblr-1731 488 2 vol vol NOUN cblr-1731 488 3 . . NOUN cblr-1731 488 4 2016 2016 NUM cblr-1731 488 5 public public ADJ cblr-1731 488 6 stockholder stockholder NOUN cblr-1731 488 7 , , PUNCT cblr-1731 488 8 who who PRON cblr-1731 488 9 would would AUX cblr-1731 488 10 also also ADV cblr-1731 488 11 gain gain VERB cblr-1731 488 12 nothing nothing PRON cblr-1731 488 13 from from ADP cblr-1731 488 14 the the DET cblr-1731 488 15 autonomy autonomy NOUN cblr-1731 488 16 or or CCONJ cblr-1731 488 17 permanence permanence NOUN cblr-1731 488 18 that that SCONJ cblr-1731 488 19 family family NOUN cblr-1731 488 20 members members PROPN cblr-1731 488 21 prize prize PROPN cblr-1731 488 22 in in ADP cblr-1731 488 23 a a DET cblr-1731 488 24 sale sale NOUN cblr-1731 488 25 to to ADP cblr-1731 488 26 berkshire berkshire NOUN cblr-1731 488 27 . . PUNCT cblr-1731 489 1 so so ADV cblr-1731 489 2 target target VERB cblr-1731 489 3 directors director NOUN cblr-1731 489 4 will will AUX cblr-1731 489 5 resist resist VERB cblr-1731 489 6 an an DET cblr-1731 489 7 all all ADV cblr-1731 489 8 - - PUNCT cblr-1731 489 9 cash cash NOUN cblr-1731 489 10 sale sale NOUN cblr-1731 489 11 at at ADP cblr-1731 489 12 a a DET cblr-1731 489 13 discount discount NOUN cblr-1731 489 14 and and CCONJ cblr-1731 489 15 seek seek VERB cblr-1731 489 16 rival rival ADJ cblr-1731 489 17 suitors suitor NOUN cblr-1731 489 18 at at ADP cblr-1731 489 19 higher high ADJ cblr-1731 489 20 prices price NOUN cblr-1731 489 21 , , PUNCT cblr-1731 489 22 even even ADV cblr-1731 489 23 stimulating stimulate VERB cblr-1731 489 24 an an DET cblr-1731 489 25 auction auction NOUN cblr-1731 489 26 to to PART cblr-1731 489 27 drive drive VERB cblr-1731 489 28 price price NOUN cblr-1731 489 29 up up ADP cblr-1731 489 30 — — PUNCT cblr-1731 489 31 repelling repelling NOUN cblr-1731 489 32 berkshire berkshire NOUN cblr-1731 489 33 , , PUNCT cblr-1731 489 34 which which PRON cblr-1731 489 35 avoids avoid VERB cblr-1731 489 36 auctions.118 auctions.118 PROPN cblr-1731 489 37 an an DET cblr-1731 489 38 example example NOUN cblr-1731 489 39 can can AUX cblr-1731 489 40 be be AUX cblr-1731 489 41 drawn draw VERB cblr-1731 489 42 from from ADP cblr-1731 489 43 berkshire berkshire PROPN cblr-1731 489 44 ’s ’s PART cblr-1731 489 45 2003 2003 NUM cblr-1731 489 46 acquisition acquisition NOUN cblr-1731 489 47 of of ADP cblr-1731 489 48 clayton clayton PROPN cblr-1731 489 49 homes home NOUN cblr-1731 489 50 , , PUNCT cblr-1731 489 51 a a DET cblr-1731 489 52 publicly publicly ADV cblr-1731 489 53 traded trade VERB cblr-1731 489 54 family family NOUN cblr-1731 489 55 business business NOUN cblr-1731 489 56 bought buy VERB cblr-1731 489 57 for for ADP cblr-1731 489 58 a a DET cblr-1731 489 59 modest modest ADJ cblr-1731 489 60 ( ( PUNCT cblr-1731 489 61 seven seven NUM cblr-1731 489 62 percent percent NOUN cblr-1731 489 63 ) ) PUNCT cblr-1731 489 64 premium premium NOUN cblr-1731 489 65 to to ADP cblr-1731 489 66 market market NOUN cblr-1731 489 67 . . PUNCT cblr-1731 490 1 many many ADJ cblr-1731 490 2 clayton clayton PROPN cblr-1731 490 3 shareholders shareholder NOUN cblr-1731 490 4 objected object VERB cblr-1731 490 5 ; ; PUNCT cblr-1731 490 6 one one NUM cblr-1731 490 7 , , PUNCT cblr-1731 490 8 cerberus cerberus PROPN cblr-1731 490 9 capital capital PROPN cblr-1731 490 10 management management PROPN cblr-1731 490 11 , , PUNCT cblr-1731 490 12 told tell VERB cblr-1731 490 13 clayton clayton PROPN cblr-1731 490 14 it it PRON cblr-1731 490 15 wanted want VERB cblr-1731 490 16 the the DET cblr-1731 490 17 chance chance NOUN cblr-1731 490 18 to to PART cblr-1731 490 19 make make VERB cblr-1731 490 20 a a DET cblr-1731 490 21 competing compete VERB cblr-1731 490 22 bid bid NOUN cblr-1731 490 23 ; ; PUNCT cblr-1731 490 24 another another DET cblr-1731 490 25 sued.119 sued.119 PROPN cblr-1731 490 26 the the DET cblr-1731 490 27 result result NOUN cblr-1731 490 28 was be AUX cblr-1731 490 29 a a DET cblr-1731 490 30 sixmonth sixmonth ADJ cblr-1731 490 31 delay delay NOUN cblr-1731 490 32 in in ADP cblr-1731 490 33 getting get VERB cblr-1731 490 34 to to ADP cblr-1731 490 35 a a DET cblr-1731 490 36 shareholder shareholder NOUN cblr-1731 490 37 vote vote NOUN cblr-1731 490 38 , , PUNCT cblr-1731 490 39 which which PRON cblr-1731 490 40 narrowly narrowly ADV cblr-1731 490 41 approved approve VERB cblr-1731 490 42 the the DET cblr-1731 490 43 berkshire berkshire NOUN cblr-1731 490 44 deal.120 deal.120 NOUN cblr-1731 490 45 many many ADJ cblr-1731 490 46 clayton clayton PROPN cblr-1731 490 47 shareholders shareholder NOUN cblr-1731 490 48 were be AUX cblr-1731 490 49 disappointed disappoint VERB cblr-1731 490 50 , , PUNCT cblr-1731 490 51 but but CCONJ cblr-1731 490 52 cerberus cerberus PROPN cblr-1731 490 53 opted opt VERB cblr-1731 490 54 not not PART cblr-1731 490 55 to to PART cblr-1731 490 56 outbid outbid VERB cblr-1731 490 57 berkshire berkshire NOUN cblr-1731 490 58 , , PUNCT cblr-1731 490 59 and and CCONJ cblr-1731 490 60 the the DET cblr-1731 490 61 court court NOUN cblr-1731 490 62 dismissed dismiss VERB cblr-1731 490 63 the the DET cblr-1731 490 64 lawsuit.121 lawsuit.121 NOUN cblr-1731 490 65 the the DET cblr-1731 490 66 scenario scenario NOUN cblr-1731 490 67 remains remain VERB cblr-1731 490 68 unattractive unattractive ADJ cblr-1731 490 69 to to PART cblr-1731 490 70 berkshire berkshire VERB cblr-1731 490 71 , , PUNCT cblr-1731 490 72 however however ADV cblr-1731 490 73 , , PUNCT cblr-1731 490 74 given give VERB cblr-1731 490 75 the the DET cblr-1731 490 76 risk risk NOUN cblr-1731 490 77 of of ADP cblr-1731 490 78 litigation litigation NOUN cblr-1731 490 79 , , PUNCT cblr-1731 490 80 delay delay NOUN cblr-1731 490 81 , , PUNCT cblr-1731 490 82 and and CCONJ cblr-1731 490 83 rival rival ADJ cblr-1731 490 84 bids bid NOUN cblr-1731 490 85 . . PUNCT cblr-1731 491 1 under under ADP cblr-1731 491 2 berkshire berkshire PROPN cblr-1731 491 3 ’s ’s PART cblr-1731 491 4 acute acute ADJ cblr-1731 491 5 aversion aversion NOUN cblr-1731 491 6 to to ADP cblr-1731 491 7 bidding bidding NOUN cblr-1731 491 8 in in ADP cblr-1731 491 9 any any DET cblr-1731 491 10 auction auction NOUN cblr-1731 491 11 , , PUNCT cblr-1731 491 12 the the DET cblr-1731 491 13 risk risk NOUN cblr-1731 491 14 of of ADP cblr-1731 491 15 an an DET cblr-1731 491 16 auction auction NOUN cblr-1731 491 17 would would AUX cblr-1731 491 18 be be AUX cblr-1731 491 19 enough enough ADJ cblr-1731 491 20 to to PART cblr-1731 491 21 deter deter VERB cblr-1731 491 22 berkshire berkshire NOUN cblr-1731 491 23 from from ADP cblr-1731 491 24 bidding bid VERB cblr-1731 491 25 at at ADV cblr-1731 491 26 all all ADV cblr-1731 491 27 . . PUNCT cblr-1731 492 1 the the DET cblr-1731 492 2 upshot upshot NOUN cblr-1731 492 3 : : PUNCT cblr-1731 492 4 the the DET cblr-1731 492 5 publicly publicly ADV cblr-1731 492 6 traded trade VERB cblr-1731 492 7 family family NOUN cblr-1731 492 8 business business NOUN cblr-1731 492 9 is be AUX cblr-1731 492 10 outside outside ADP cblr-1731 492 11 berkshire berkshire NOUN cblr-1731 492 12 ’s ’s PART cblr-1731 492 13 acquisition acquisition NOUN cblr-1731 492 14 model model NOUN cblr-1731 492 15 , , PUNCT cblr-1731 492 16 amounting amount VERB cblr-1731 492 17 to to ADP cblr-1731 492 18 an an DET cblr-1731 492 19 opportunity opportunity NOUN cblr-1731 492 20 cost cost NOUN cblr-1731 492 21 for for ADP cblr-1731 492 22 what what PRON cblr-1731 492 23 would would AUX cblr-1731 492 24 otherwise otherwise ADV cblr-1731 492 25 be be AUX cblr-1731 492 26 a a DET cblr-1731 492 27 sweet sweet ADJ cblr-1731 492 28 spot spot NOUN cblr-1731 492 29 . . PUNCT cblr-1731 493 1 118 118 NUM cblr-1731 493 2 letter letter NOUN cblr-1731 493 3 from from ADP cblr-1731 493 4 warren warren PROPN cblr-1731 493 5 e. e. PROPN cblr-1731 493 6 buffett buffett PROPN cblr-1731 493 7 , , PUNCT cblr-1731 493 8 chairman chairman NOUN cblr-1731 493 9 , , PUNCT cblr-1731 493 10 berkshire berkshire PROPN cblr-1731 493 11 hathaway hathaway PROPN cblr-1731 493 12 , , PUNCT cblr-1731 493 13 inc inc PROPN cblr-1731 493 14 . . PROPN cblr-1731 493 15 , , PUNCT cblr-1731 493 16 to to ADP cblr-1731 493 17 shareholders shareholder NOUN cblr-1731 493 18 of of ADP cblr-1731 493 19 berkshire berkshire PROPN cblr-1731 493 20 hathaway hathaway PROPN cblr-1731 493 21 , , PUNCT cblr-1731 493 22 inc inc PROPN cblr-1731 493 23 . . PROPN cblr-1731 493 24 ( ( PUNCT cblr-1731 493 25 feb feb PROPN cblr-1731 493 26 . . PROPN cblr-1731 493 27 27 27 NUM cblr-1731 493 28 , , PUNCT cblr-1731 493 29 2015 2015 NUM cblr-1731 493 30 ) ) PUNCT cblr-1731 493 31 , , PUNCT cblr-1731 493 32 http://www.berkshirehathaway.com/letters/2014ltr.pdf http://www.berkshirehathaway.com/letters/2014ltr.pdf PROPN cblr-1731 493 33 [ [ X cblr-1731 493 34 http://perma.cc/m94g-ye9f http://perma.cc/m94g-ye9f X cblr-1731 493 35 ] ] X cblr-1731 493 36 ( ( PUNCT cblr-1731 493 37 “ " PUNCT cblr-1731 493 38 we we PRON cblr-1731 493 39 do do AUX cblr-1731 493 40 n’t not PART cblr-1731 493 41 participate participate VERB cblr-1731 493 42 in in ADP cblr-1731 493 43 auctions auction NOUN cblr-1731 493 44 . . PUNCT cblr-1731 493 45 ” " PUNCT cblr-1731 493 46 ) ) PUNCT cblr-1731 493 47 . . 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PUNCT cblr-1731 522 1 buffett buffett PROPN cblr-1731 522 2 ’s ’s PART cblr-1731 522 3 interest interest NOUN cblr-1731 522 4 is be AUX cblr-1731 522 5 now now ADV cblr-1731 522 6 down down ADV cblr-1731 522 7 to to ADP cblr-1731 522 8 a a DET cblr-1731 522 9 third third NOUN cblr-1731 522 10 , , PUNCT cblr-1731 522 11 and and CCONJ cblr-1731 522 12 the the DET cblr-1731 522 13 inner inner ADJ cblr-1731 522 14 core core NOUN cblr-1731 522 15 group group NOUN cblr-1731 522 16 ’s ’s PART cblr-1731 522 17 holdings holding NOUN cblr-1731 522 18 are be AUX cblr-1731 522 19 unlikely unlikely ADJ cblr-1731 522 20 to to PART cblr-1731 522 21 exceed exceed VERB cblr-1731 522 22 a a DET cblr-1731 522 23 majority majority NOUN cblr-1731 522 24 . . PUNCT cblr-1731 523 1 buffett buffett PROPN cblr-1731 523 2 continues continue VERB cblr-1731 523 3 to to PART cblr-1731 523 4 talk talk VERB cblr-1731 523 5 about about ADP cblr-1731 523 6 berkshire berkshire NOUN cblr-1731 523 7 having have VERB cblr-1731 523 8 a a DET cblr-1731 523 9 corporate corporate ADJ cblr-1731 523 10 form form NOUN cblr-1731 523 11 with with ADP cblr-1731 523 12 a a DET cblr-1731 523 13 partnership partnership NOUN cblr-1731 523 14 attitude attitude NOUN cblr-1731 523 15 . . PUNCT cblr-1731 524 1 but but CCONJ cblr-1731 524 2 it it PRON cblr-1731 524 3 is be AUX cblr-1731 524 4 only only ADV cblr-1731 524 5 an an DET cblr-1731 524 6 attitude attitude NOUN cblr-1731 524 7 and and CCONJ cblr-1731 524 8 it it PRON cblr-1731 524 9 no no ADV cblr-1731 524 10 longer long ADV cblr-1731 524 11 genuinely genuinely ADV cblr-1731 524 12 reflects reflect VERB cblr-1731 524 13 a a DET cblr-1731 524 14 true true ADJ cblr-1731 524 15 partnership partnership NOUN cblr-1731 524 16 . . PUNCT cblr-1731 525 1 the the DET cblr-1731 525 2 shareholders shareholder NOUN cblr-1731 525 3 have have AUX cblr-1731 525 4 signaled signal VERB cblr-1731 525 5 surprisingly surprisingly ADV cblr-1731 525 6 close close ADJ cblr-1731 525 7 to to ADP cblr-1731 525 8 unanimity unanimity NOUN cblr-1731 525 9 on on ADP cblr-1731 525 10 dividend dividend NOUN cblr-1731 525 11 policy.128 policy.128 NOUN cblr-1731 525 12 but but CCONJ cblr-1731 525 13 discussions discussion NOUN cblr-1731 525 14 with with ADP cblr-1731 525 15 shareholders shareholder NOUN cblr-1731 525 16 indicate indicate VERB cblr-1731 525 17 a a DET cblr-1731 525 18 greater great ADJ cblr-1731 525 19 division division NOUN cblr-1731 525 20 of of ADP cblr-1731 525 21 opinion.129 opinion.129 PROPN cblr-1731 525 22 you you PRON cblr-1731 525 23 can can AUX cblr-1731 525 24 expect expect VERB cblr-1731 525 25 once once ADV cblr-1731 525 26 buffett buffett PROPN cblr-1731 525 27 leaves leave VERB cblr-1731 525 28 the the DET cblr-1731 525 29 scene scene NOUN cblr-1731 525 30 that that SCONJ cblr-1731 525 31 some some DET cblr-1731 525 32 shareholders shareholder NOUN cblr-1731 525 33 will will AUX cblr-1731 525 34 become become VERB cblr-1731 525 35 active active ADJ cblr-1731 525 36 in in ADP cblr-1731 525 37 seeking seek VERB cblr-1731 525 38 policy policy NOUN cblr-1731 525 39 changes change NOUN cblr-1731 525 40 , , PUNCT cblr-1731 525 41 including include VERB cblr-1731 525 42 some some DET cblr-1731 525 43 touching touch VERB cblr-1731 525 44 on on ADP cblr-1731 525 45 the the DET cblr-1731 525 46 berkshire berkshire PROPN cblr-1731 525 47 model model NOUN cblr-1731 525 48 . . PUNCT cblr-1731 526 1 while while SCONJ cblr-1731 526 2 the the DET cblr-1731 526 3 dividend dividend NOUN cblr-1731 526 4 policy policy NOUN cblr-1731 526 5 remains remain VERB cblr-1731 526 6 a a DET cblr-1731 526 7 plus plus NOUN cblr-1731 526 8 without without ADP cblr-1731 526 9 a a DET cblr-1731 526 10 cost cost NOUN cblr-1731 526 11 , , PUNCT cblr-1731 526 12 the the DET cblr-1731 526 13 disagreements disagreement NOUN cblr-1731 526 14 over over ADP cblr-1731 526 15 it it PRON cblr-1731 526 16 might might AUX cblr-1731 526 17 be be AUX cblr-1731 526 18 classified classify VERB cblr-1731 526 19 as as ADP cblr-1731 526 20 a a DET cblr-1731 526 21 cost cost NOUN cblr-1731 526 22 . . PUNCT cblr-1731 527 1 it it PRON cblr-1731 527 2 arises arise VERB cblr-1731 527 3 from from ADP cblr-1731 527 4 the the DET cblr-1731 527 5 broader broad ADJ cblr-1731 527 6 costs cost NOUN cblr-1731 527 7 of of ADP cblr-1731 527 8 a a DET cblr-1731 527 9 shareholder shareholder NOUN cblr-1731 527 10 body body NOUN cblr-1731 527 11 that that PRON cblr-1731 527 12 has have AUX cblr-1731 527 13 grown grow VERB cblr-1731 527 14 woods/2013/10/27/924ffe10 woods/2013/10/27/924ffe10 NOUN cblr-1731 527 15 - - PUNCT cblr-1731 527 16 3d83 3d83 NUM cblr-1731 527 17 - - PUNCT cblr-1731 527 18 11e3 11e3 NUM cblr-1731 527 19 - - PUNCT cblr-1731 527 20 b6a9 b6a9 NOUN cblr-1731 527 21 - - PUNCT cblr-1731 527 22 da62c264f40e_story.html da62c264f40e_story.html PROPN cblr-1731 527 23 [ [ X cblr-1731 527 24 https://perma.cc/5vxh-7slm https://perma.cc/5vxh-7slm NOUN cblr-1731 527 25 ] ] X cblr-1731 527 26 . . PUNCT cblr-1731 528 1 127 127 NUM cblr-1731 528 2 see see VERB cblr-1731 528 3 cunningham cunningham PROPN cblr-1731 528 4 , , PUNCT cblr-1731 528 5 berkshire berkshire PROPN cblr-1731 528 6 beyond beyond ADP cblr-1731 528 7 buffett buffett PROPN cblr-1731 528 8 , , PUNCT cblr-1731 528 9 supra supra PROPN cblr-1731 528 10 note note PROPN cblr-1731 528 11 6 6 NUM cblr-1731 528 12 , , PUNCT cblr-1731 528 13 at at ADP cblr-1731 528 14 193–94 193–94 NUM cblr-1731 528 15 . . PUNCT cblr-1731 529 1 128 128 NUM cblr-1731 529 2 conversations conversation NOUN cblr-1731 529 3 from from ADP cblr-1731 529 4 the the DET cblr-1731 529 5 buffett buffett PROPN cblr-1731 529 6 essays essay NOUN cblr-1731 529 7 symposium symposium NOUN cblr-1731 529 8 24–25 24–25 PROPN cblr-1731 529 9 ( ( PUNCT cblr-1731 529 10 lawrence lawrence PROPN cblr-1731 529 11 a. a. PROPN cblr-1731 529 12 cunningham cunningham PROPN cblr-1731 529 13 ed ed PROPN cblr-1731 529 14 . . PROPN cblr-1731 529 15 , , PUNCT cblr-1731 529 16 forthcoming forthcoming ADJ cblr-1731 529 17 2016 2016 NUM cblr-1731 529 18 ) ) PUNCT cblr-1731 529 19 ( ( PUNCT cblr-1731 529 20 buffett buffett PROPN cblr-1731 529 21 exchange exchange PROPN cblr-1731 529 22 with with ADP cblr-1731 529 23 cunningham cunningham PROPN cblr-1731 529 24 indicating indicate VERB cblr-1731 529 25 results result NOUN cblr-1731 529 26 of of ADP cblr-1731 529 27 an an DET cblr-1731 529 28 early early ADJ cblr-1731 529 29 1990s 1990 NOUN cblr-1731 529 30 precatory precatory PROPN cblr-1731 529 31 berkshire berkshire NOUN cblr-1731 529 32 shareholder shareholder NOUN cblr-1731 529 33 resolution resolution NOUN cblr-1731 529 34 overwhelmingly overwhelmingly ADV cblr-1731 529 35 supporting support VERB cblr-1731 529 36 berkshire berkshire NOUN cblr-1731 529 37 ’s ’s PART cblr-1731 529 38 dividend dividend NOUN cblr-1731 529 39 policy policy NOUN cblr-1731 529 40 ) ) PUNCT cblr-1731 529 41 ; ; PUNCT cblr-1731 529 42 the the DET cblr-1731 529 43 essays essay NOUN cblr-1731 529 44 of of ADP cblr-1731 529 45 warren warren PROPN cblr-1731 529 46 buffett buffett PROPN cblr-1731 529 47 , , PUNCT cblr-1731 529 48 supra supra PROPN cblr-1731 529 49 note note PROPN cblr-1731 529 50 15 15 NUM cblr-1731 529 51 , , PUNCT cblr-1731 529 52 at at ADP cblr-1731 529 53 198 198 NUM cblr-1731 529 54 ( ( PUNCT cblr-1731 529 55 reporting report VERB cblr-1731 529 56 results result NOUN cblr-1731 529 57 of of ADP cblr-1731 529 58 a a DET cblr-1731 529 59 2013 2013 NUM cblr-1731 529 60 precatory precatory ADJ cblr-1731 529 61 shareholder shareholder NOUN cblr-1731 529 62 resolution resolution NOUN cblr-1731 529 63 on on ADP cblr-1731 529 64 berkshire berkshire NOUN cblr-1731 529 65 dividend dividend NOUN cblr-1731 529 66 policy policy NOUN cblr-1731 529 67 with with ADP cblr-1731 529 68 98 98 NUM cblr-1731 529 69 % % NOUN cblr-1731 529 70 of of ADP cblr-1731 529 71 the the DET cblr-1731 529 72 shares share NOUN cblr-1731 529 73 voting vote VERB cblr-1731 529 74 favoring favor VERB cblr-1731 529 75 the the DET cblr-1731 529 76 no no DET cblr-1731 529 77 dividend dividend NOUN cblr-1731 529 78 policy policy NOUN cblr-1731 529 79 ) ) PUNCT cblr-1731 529 80 . . PUNCT cblr-1731 530 1 129 129 NUM cblr-1731 530 2 see see VERB cblr-1731 530 3 cunningham cunningham PROPN cblr-1731 530 4 , , PUNCT cblr-1731 530 5 berkshire berkshire PROPN cblr-1731 530 6 beyond beyond ADP cblr-1731 530 7 buffett buffett PROPN cblr-1731 530 8 , , PUNCT cblr-1731 530 9 supra supra PROPN cblr-1731 530 10 note note PROPN cblr-1731 530 11 6 6 NUM cblr-1731 530 12 , , PUNCT cblr-1731 530 13 at at ADP cblr-1731 530 14 208 208 NUM cblr-1731 530 15 . . PUNCT cblr-1731 531 1 cunningham cunningham PROPN cblr-1731 531 2 – – PUNCT cblr-1731 531 3 final final ADJ cblr-1731 531 4 no no NOUN cblr-1731 531 5 . . NOUN cblr-1731 531 6 1:1 1:1 NUM cblr-1731 531 7 ] ] PUNCT cblr-1731 531 8 berkshire berkshire PROPN cblr-1731 531 9 ’s ’s PART cblr-1731 531 10 blemishes blemish NOUN cblr-1731 531 11 43 43 NUM cblr-1731 531 12 through through ADP cblr-1731 531 13 major major ADJ cblr-1731 531 14 stock stock NOUN cblr-1731 531 15 - - PUNCT cblr-1731 531 16 based base VERB cblr-1731 531 17 acquisitions acquisition NOUN cblr-1731 531 18 , , PUNCT cblr-1731 531 19 including include VERB cblr-1731 531 20 gen gen PROPN cblr-1731 531 21 re re X cblr-1731 531 22 and and CCONJ cblr-1731 531 23 especially especially ADV cblr-1731 531 24 bnsf bnsf NOUN cblr-1731 531 25 , , PUNCT cblr-1731 531 26 as as ADV cblr-1731 531 27 well well ADV cblr-1731 531 28 as as ADP cblr-1731 531 29 dexter dexter NOUN cblr-1731 531 30 , , PUNCT cblr-1731 531 31 dairy dairy NOUN cblr-1731 531 32 queen queen NOUN cblr-1731 531 33 , , PUNCT cblr-1731 531 34 and and CCONJ cblr-1731 531 35 others other NOUN cblr-1731 531 36 . . PUNCT cblr-1731 532 1 ultimately ultimately ADV cblr-1731 532 2 , , PUNCT cblr-1731 532 3 as as ADP cblr-1731 532 4 with with ADP cblr-1731 532 5 all all DET cblr-1731 532 6 other other ADJ cblr-1731 532 7 costs cost NOUN cblr-1731 532 8 of of ADP cblr-1731 532 9 the the DET cblr-1731 532 10 berkshire berkshire PROPN cblr-1731 532 11 model model NOUN cblr-1731 532 12 , , PUNCT cblr-1731 532 13 it it PRON cblr-1731 532 14 emanates emanate VERB cblr-1731 532 15 from from ADP cblr-1731 532 16 principle principle ADJ cblr-1731 532 17 number number NOUN cblr-1731 532 18 one one NUM cblr-1731 532 19 , , PUNCT cblr-1731 532 20 which which PRON cblr-1731 532 21 is be AUX cblr-1731 532 22 conceiving conceive VERB cblr-1731 532 23 of of ADP cblr-1731 532 24 the the DET cblr-1731 532 25 corporation corporation NOUN cblr-1731 532 26 as as ADP cblr-1731 532 27 a a DET cblr-1731 532 28 partnership partnership NOUN cblr-1731 532 29 . . PUNCT cblr-1731 533 1 iii iii X cblr-1731 533 2 . . PUNCT cblr-1731 533 3 implications implication NOUN cblr-1731 533 4 for for ADP cblr-1731 533 5 peers peer NOUN cblr-1731 533 6 and and CCONJ cblr-1731 533 7 policy policy NOUN cblr-1731 533 8 beyond beyond ADP cblr-1731 533 9 the the DET cblr-1731 533 10 important important ADJ cblr-1731 533 11 upshot upshot NOUN cblr-1731 533 12 of of ADP cblr-1731 533 13 this this DET cblr-1731 533 14 analysis analysis NOUN cblr-1731 533 15 for for ADP cblr-1731 533 16 berkshire berkshire PROPN cblr-1731 533 17 hathaway hathaway NOUN cblr-1731 533 18 are be AUX cblr-1731 533 19 lessons lesson NOUN cblr-1731 533 20 for for ADP cblr-1731 533 21 policymakers policymaker NOUN cblr-1731 533 22 and and CCONJ cblr-1731 533 23 others other NOUN cblr-1731 533 24 . . PUNCT cblr-1731 534 1 the the DET cblr-1731 534 2 berkshire berkshire PROPN cblr-1731 534 3 model model NOUN cblr-1731 534 4 successfully successfully ADV cblr-1731 534 5 emerged emerge VERB cblr-1731 534 6 despite despite SCONJ cblr-1731 534 7 bucking buck VERB cblr-1731 534 8 five five NUM cblr-1731 534 9 powerful powerful ADJ cblr-1731 534 10 trends trend NOUN cblr-1731 534 11 affecting affect VERB cblr-1731 534 12 the the DET cblr-1731 534 13 rest rest NOUN cblr-1731 534 14 of of ADP cblr-1731 534 15 corporate corporate ADJ cblr-1731 534 16 america america PROPN cblr-1731 534 17 that that PRON cblr-1731 534 18 cut cut VERB cblr-1731 534 19 in in ADP cblr-1731 534 20 the the DET cblr-1731 534 21 opposite opposite ADJ cblr-1731 534 22 direction direction NOUN cblr-1731 534 23 . . PUNCT cblr-1731 535 1 these these PRON cblr-1731 535 2 are be AUX cblr-1731 535 3 : : PUNCT cblr-1731 535 4 the the DET cblr-1731 535 5 rise rise NOUN cblr-1731 535 6 of of ADP cblr-1731 535 7 the the DET cblr-1731 535 8 independent independent ADJ cblr-1731 535 9 director director NOUN cblr-1731 535 10 and and CCONJ cblr-1731 535 11 monitoring monitoring NOUN cblr-1731 535 12 board board NOUN cblr-1731 535 13 ; ; PUNCT cblr-1731 535 14 the the DET cblr-1731 535 15 decline decline NOUN cblr-1731 535 16 of of ADP cblr-1731 535 17 executive executive ADJ cblr-1731 535 18 power power NOUN cblr-1731 535 19 ; ; PUNCT cblr-1731 535 20 the the DET cblr-1731 535 21 elevation elevation NOUN cblr-1731 535 22 of of ADP cblr-1731 535 23 internal internal ADJ cblr-1731 535 24 controls control NOUN cblr-1731 535 25 to to ADP cblr-1731 535 26 a a DET cblr-1731 535 27 first first ADJ cblr-1731 535 28 - - PUNCT cblr-1731 535 29 order order NOUN cblr-1731 535 30 policy policy NOUN cblr-1731 535 31 option option NOUN cblr-1731 535 32 ; ; PUNCT cblr-1731 535 33 the the DET cblr-1731 535 34 eclipse eclipse NOUN cblr-1731 535 35 of of ADP cblr-1731 535 36 the the DET cblr-1731 535 37 conglomerate conglomerate NOUN cblr-1731 535 38 form form NOUN cblr-1731 535 39 ; ; PUNCT cblr-1731 535 40 and and CCONJ cblr-1731 535 41 the the DET cblr-1731 535 42 proliferation proliferation NOUN cblr-1731 535 43 of of ADP cblr-1731 535 44 shareholder shareholder NOUN cblr-1731 535 45 activism activism NOUN cblr-1731 535 46 and and CCONJ cblr-1731 535 47 hostile hostile ADJ cblr-1731 535 48 takeovers takeover NOUN cblr-1731 535 49 . . PUNCT cblr-1731 536 1 the the DET cblr-1731 536 2 berkshire berkshire PROPN cblr-1731 536 3 model model PROPN cblr-1731 536 4 ’s ’s PART cblr-1731 536 5 success success NOUN cblr-1731 536 6 strengthens strengthen VERB cblr-1731 536 7 the the DET cblr-1731 536 8 case case NOUN cblr-1731 536 9 against against ADP cblr-1731 536 10 these these DET cblr-1731 536 11 features feature NOUN cblr-1731 536 12 and and CCONJ cblr-1731 536 13 their their PRON cblr-1731 536 14 rigidity rigidity NOUN cblr-1731 536 15 . . PUNCT cblr-1731 537 1 as as ADP cblr-1731 537 2 with with ADP cblr-1731 537 3 the the DET cblr-1731 537 4 previous previous ADJ cblr-1731 537 5 part part NOUN cblr-1731 537 6 , , PUNCT cblr-1731 537 7 this this DET cblr-1731 537 8 one one NOUN cblr-1731 537 9 opens open VERB cblr-1731 537 10 with with ADP cblr-1731 537 11 a a DET cblr-1731 537 12 chart chart NOUN cblr-1731 537 13 depicting depict VERB cblr-1731 537 14 highlights highlight NOUN cblr-1731 537 15 , , PUNCT cblr-1731 537 16 here here ADV cblr-1731 537 17 comparing compare VERB cblr-1731 537 18 five five NUM cblr-1731 537 19 major major ADJ cblr-1731 537 20 issues issue NOUN cblr-1731 537 21 that that PRON cblr-1731 537 22 distinguish distinguish VERB cblr-1731 537 23 berkshire berkshire NOUN cblr-1731 537 24 from from ADP cblr-1731 537 25 prevailing prevail VERB cblr-1731 537 26 practice practice NOUN cblr-1731 537 27 in in ADP cblr-1731 537 28 corporate corporate ADJ cblr-1731 537 29 america america PROPN cblr-1731 537 30 , , PUNCT cblr-1731 537 31 along along ADP cblr-1731 537 32 with with ADP cblr-1731 537 33 the the DET cblr-1731 537 34 important important ADJ cblr-1731 537 35 implications implication NOUN cblr-1731 537 36 of of ADP cblr-1731 537 37 the the DET cblr-1731 537 38 contrast contrast NOUN cblr-1731 537 39 . . PUNCT cblr-1731 538 1 table table NOUN cblr-1731 538 2 2 2 NUM cblr-1731 538 3 : : PUNCT cblr-1731 538 4 value value NOUN cblr-1731 538 5 of of ADP cblr-1731 538 6 berkshire berkshire NOUN cblr-1731 538 7 ’s ’s PART cblr-1731 538 8 practices practice NOUN cblr-1731 538 9 vs. vs. ADP cblr-1731 538 10 corporate corporate PROPN cblr-1731 538 11 america america PROPN cblr-1731 538 12 issue issue PROPN cblr-1731 538 13 berkshire berkshire NOUN cblr-1731 538 14 practice practice NOUN cblr-1731 538 15 corporate corporate PROPN cblr-1731 538 16 america america PROPN cblr-1731 538 17 lesson lesson NOUN cblr-1731 538 18 a.1 a.1 PUNCT cblr-1731 538 19 governance governance NOUN cblr-1731 538 20 : : PUNCT cblr-1731 538 21 board board NOUN cblr-1731 538 22 role role NOUN cblr-1731 538 23 advisory advisory NOUN cblr-1731 538 24 : : PUNCT cblr-1731 538 25 board board NOUN cblr-1731 538 26 is be AUX cblr-1731 538 27 supportive supportive ADJ cblr-1731 538 28 advisory advisory ADJ cblr-1731 538 29 body body NOUN cblr-1731 538 30 there there ADV cblr-1731 538 31 to to PART cblr-1731 538 32 help help VERB cblr-1731 538 33 the the DET cblr-1731 538 34 ceo ceo NOUN cblr-1731 538 35 monitoring monitoring NOUN cblr-1731 538 36 : : PUNCT cblr-1731 538 37 numerous numerous ADJ cblr-1731 538 38 forces force NOUN cblr-1731 538 39 in in ADP cblr-1731 538 40 recent recent ADJ cblr-1731 538 41 decades decade NOUN cblr-1731 538 42 have have AUX cblr-1731 538 43 transformed transform VERB cblr-1731 538 44 boards board NOUN cblr-1731 538 45 into into ADP cblr-1731 538 46 interventionist interventionist ADJ cblr-1731 538 47 overseers overseer NOUN cblr-1731 538 48 and and CCONJ cblr-1731 538 49 supervisors supervisor NOUN cblr-1731 538 50 of of ADP cblr-1731 538 51 executives executive NOUN cblr-1731 538 52 champion champion VERB cblr-1731 538 53 flexibility flexibility NOUN cblr-1731 538 54 in in ADP cblr-1731 538 55 governance governance NOUN cblr-1731 538 56 design design NOUN cblr-1731 538 57 to to PART cblr-1731 538 58 allow allow VERB cblr-1731 538 59 for for ADP cblr-1731 538 60 different different ADJ cblr-1731 538 61 board board NOUN cblr-1731 538 62 types type NOUN cblr-1731 538 63 and and CCONJ cblr-1731 538 64 roles role NOUN cblr-1731 538 65 cunningham cunningham PROPN cblr-1731 538 66 – – PUNCT cblr-1731 538 67 final final ADJ cblr-1731 538 68 44 44 NUM cblr-1731 538 69 columbia columbia PROPN cblr-1731 538 70 business business NOUN cblr-1731 538 71 law law PROPN cblr-1731 538 72 review review NOUN cblr-1731 538 73 [ [ X cblr-1731 538 74 vol vol NOUN cblr-1731 538 75 . . NOUN cblr-1731 538 76 2016 2016 NUM cblr-1731 538 77 issue issue NOUN cblr-1731 538 78 berkshire berkshire NOUN cblr-1731 538 79 practice practice NOUN cblr-1731 538 80 corporate corporate PROPN cblr-1731 538 81 america america PROPN cblr-1731 538 82 lesson lesson NOUN cblr-1731 538 83 a.2 a.2 PUNCT cblr-1731 538 84 governance governance NOUN cblr-1731 538 85 : : PUNCT cblr-1731 538 86 ceo ceo NOUN cblr-1731 538 87 power power NOUN cblr-1731 538 88 consolidated consolidated PROPN cblr-1731 538 89 : : PUNCT cblr-1731 538 90 ceo ceo NOUN cblr-1731 538 91 wields wield NOUN cblr-1731 538 92 near near ADP cblr-1731 538 93 - - PUNCT cblr-1731 538 94 total total NOUN cblr-1731 538 95 corporate corporate ADJ cblr-1731 538 96 power power NOUN cblr-1731 538 97 neutralized neutralize VERB cblr-1731 538 98 : : PUNCT cblr-1731 538 99 numerous numerous ADJ cblr-1731 538 100 forces force NOUN cblr-1731 538 101 in in ADP cblr-1731 538 102 recent recent ADJ cblr-1731 538 103 decades decade NOUN cblr-1731 538 104 have have AUX cblr-1731 538 105 operated operate VERB cblr-1731 538 106 to to PART cblr-1731 538 107 reduce reduce VERB cblr-1731 538 108 or or CCONJ cblr-1731 538 109 check check VERB cblr-1731 538 110 ceo ceo NOUN cblr-1731 538 111 power power NOUN cblr-1731 538 112 appreciate appreciate VERB cblr-1731 538 113 that that SCONJ cblr-1731 538 114 sometimes sometimes ADV cblr-1731 538 115 strong strong ADJ cblr-1731 538 116 ceos ceo NOUN cblr-1731 538 117 are be AUX cblr-1731 538 118 far far ADV cblr-1731 538 119 more more ADV cblr-1731 538 120 desirable desirable ADJ cblr-1731 538 121 than than ADP cblr-1731 538 122 weak weak ADJ cblr-1731 538 123 ceos ceos NOUN cblr-1731 538 124 a.3 a.3 PROPN cblr-1731 538 125 culture culture PROPN cblr-1731 538 126 trust trust PROPN cblr-1731 538 127 : : PUNCT cblr-1731 538 128 relies rely VERB cblr-1731 538 129 heavily heavily ADV cblr-1731 538 130 on on ADP cblr-1731 538 131 a a DET cblr-1731 538 132 culture culture NOUN cblr-1731 538 133 of of ADP cblr-1731 538 134 mutual mutual ADJ cblr-1731 538 135 trust trust NOUN cblr-1731 538 136 and and CCONJ cblr-1731 538 137 loyalty loyalty NOUN cblr-1731 538 138 to to PART cblr-1731 538 139 promote promote VERB cblr-1731 538 140 desirable desirable ADJ cblr-1731 538 141 behavior behavior NOUN cblr-1731 538 142 control control NOUN cblr-1731 538 143 : : PUNCT cblr-1731 538 144 numerous numerous ADJ cblr-1731 538 145 forces force NOUN cblr-1731 538 146 in in ADP cblr-1731 538 147 recent recent ADJ cblr-1731 538 148 decades decade NOUN cblr-1731 538 149 have have AUX cblr-1731 538 150 led lead VERB cblr-1731 538 151 to to ADP cblr-1731 538 152 corporations corporation NOUN cblr-1731 538 153 adopting adopt VERB cblr-1731 538 154 abundant abundant ADJ cblr-1731 538 155 internal internal ADJ cblr-1731 538 156 controls control NOUN cblr-1731 538 157 to to PART cblr-1731 538 158 shape shape VERB cblr-1731 538 159 behavior behavior NOUN cblr-1731 538 160 stress stress NOUN cblr-1731 538 161 that that SCONJ cblr-1731 538 162 trust trust NOUN cblr-1731 538 163 and and CCONJ cblr-1731 538 164 loyalty loyalty NOUN cblr-1731 538 165 are be AUX cblr-1731 538 166 often often ADV cblr-1731 538 167 far far ADV cblr-1731 538 168 more more ADV cblr-1731 538 169 valuable valuable ADJ cblr-1731 538 170 motivators motivator NOUN cblr-1731 538 171 than than ADP cblr-1731 538 172 controls controls PROPN cblr-1731 538 173 b. b. PROPN cblr-1731 538 174 conglomerate conglomerate NOUN cblr-1731 538 175 form form NOUN cblr-1731 538 176 epitome epitome NOUN cblr-1731 538 177 : : PUNCT cblr-1731 538 178 demonstrates demonstrate VERB cblr-1731 538 179 enormous enormous ADJ cblr-1731 538 180 success success NOUN cblr-1731 538 181 that that PRON cblr-1731 538 182 can can AUX cblr-1731 538 183 be be AUX cblr-1731 538 184 obtained obtain VERB cblr-1731 538 185 from from ADP cblr-1731 538 186 well well ADV cblr-1731 538 187 - - PUNCT cblr-1731 538 188 defined define VERB cblr-1731 538 189 conglomerate conglomerate NOUN cblr-1731 538 190 structure structure NOUN cblr-1731 538 191 eclipsed eclipse VERB cblr-1731 538 192 : : PUNCT cblr-1731 538 193 fallen fall VERB cblr-1731 538 194 from from ADP cblr-1731 538 195 favor favor NOUN cblr-1731 538 196 but but CCONJ cblr-1731 538 197 pockets pocket NOUN cblr-1731 538 198 of of ADP cblr-1731 538 199 success success NOUN cblr-1731 538 200 remain remain VERB cblr-1731 538 201 keep keep VERB cblr-1731 538 202 an an DET cblr-1731 538 203 open open ADJ cblr-1731 538 204 mind mind NOUN cblr-1731 538 205 about about ADP cblr-1731 538 206 the the DET cblr-1731 538 207 possible possible ADJ cblr-1731 538 208 optimality optimality NOUN cblr-1731 538 209 of of ADP cblr-1731 538 210 the the DET cblr-1731 538 211 conglomerate conglomerate NOUN cblr-1731 538 212 form form NOUN cblr-1731 538 213 for for ADP cblr-1731 538 214 some some DET cblr-1731 538 215 firms firm NOUN cblr-1731 538 216 c. c. PROPN cblr-1731 538 217 hostile hostile ADJ cblr-1731 538 218 / / SYM cblr-1731 538 219 activist activist ADJ cblr-1731 538 220 takeovers takeover NOUN cblr-1731 538 221 shunned shun VERB cblr-1731 538 222 : : PUNCT cblr-1731 538 223 has have AUX cblr-1731 538 224 never never ADV cblr-1731 538 225 made make VERB cblr-1731 538 226 hostile hostile ADJ cblr-1731 538 227 takeovers takeover NOUN cblr-1731 538 228 or or CCONJ cblr-1731 538 229 exhibited exhibit VERB cblr-1731 538 230 activist activist ADJ cblr-1731 538 231 tendencies tendency NOUN cblr-1731 538 232 and and CCONJ cblr-1731 538 233 would would AUX cblr-1731 538 234 do do VERB cblr-1731 538 235 well well ADV cblr-1731 538 236 to to PART cblr-1731 538 237 assure assure VERB cblr-1731 538 238 itself itself PRON cblr-1731 538 239 strong strong ADJ cblr-1731 538 240 defenses defense NOUN cblr-1731 538 241 against against ADP cblr-1731 538 242 such such ADJ cblr-1731 538 243 assaults assault NOUN cblr-1731 538 244 pervasive pervasive ADJ cblr-1731 538 245 welcomed welcome VERB cblr-1731 538 246 threat threat NOUN cblr-1731 538 247 : : PUNCT cblr-1731 538 248 seen see VERB cblr-1731 538 249 as as ADP cblr-1731 538 250 important important ADJ cblr-1731 538 251 tool tool NOUN cblr-1731 538 252 of of ADP cblr-1731 538 253 corporate corporate ADJ cblr-1731 538 254 governance governance NOUN cblr-1731 538 255 and and CCONJ cblr-1731 538 256 widely widely ADV cblr-1731 538 257 applied apply VERB cblr-1731 538 258 with with ADP cblr-1731 538 259 mixed mixed ADJ cblr-1731 538 260 results result NOUN cblr-1731 538 261 remain remain VERB cblr-1731 538 262 solicitous solicitous ADJ cblr-1731 538 263 of of ADP cblr-1731 538 264 takeover takeover NOUN cblr-1731 538 265 defenses defense NOUN cblr-1731 538 266 and and CCONJ cblr-1731 538 267 cautious cautious ADJ cblr-1731 538 268 of of ADP cblr-1731 538 269 exuberant exuberant ADJ cblr-1731 538 270 activism activism NOUN cblr-1731 538 271 cunningham cunningham PROPN cblr-1731 538 272 – – PUNCT cblr-1731 538 273 final final ADJ cblr-1731 538 274 no no NOUN cblr-1731 538 275 . . NOUN cblr-1731 538 276 1:1 1:1 NUM cblr-1731 538 277 ] ] PUNCT cblr-1731 538 278 berkshire berkshire PROPN cblr-1731 538 279 ’s ’s PART cblr-1731 538 280 blemishes blemish NOUN cblr-1731 538 281 45 45 NUM cblr-1731 538 282 a. a. NOUN cblr-1731 538 283 governance governance NOUN cblr-1731 538 284 and and CCONJ cblr-1731 538 285 culture culture VERB cblr-1731 538 286 the the DET cblr-1731 538 287 most most ADV cblr-1731 538 288 general general ADJ cblr-1731 538 289 implication implication NOUN cblr-1731 538 290 of of ADP cblr-1731 538 291 berkshire berkshire PROPN cblr-1731 538 292 ’s ’s PART cblr-1731 538 293 model model NOUN cblr-1731 538 294 for for ADP cblr-1731 538 295 public public ADJ cblr-1731 538 296 policy policy NOUN cblr-1731 538 297 is be AUX cblr-1731 538 298 to to PART cblr-1731 538 299 preserve preserve VERB cblr-1731 538 300 the the DET cblr-1731 538 301 possibility possibility NOUN cblr-1731 538 302 for for ADP cblr-1731 538 303 variation variation NOUN cblr-1731 538 304 in in ADP cblr-1731 538 305 governance governance NOUN cblr-1731 538 306 design design NOUN cblr-1731 538 307 and and CCONJ cblr-1731 538 308 business business NOUN cblr-1731 538 309 structure structure NOUN cblr-1731 538 310 . . PUNCT cblr-1731 539 1 this this DET cblr-1731 539 2 implication implication NOUN cblr-1731 539 3 spans span VERB cblr-1731 539 4 many many ADJ cblr-1731 539 5 topics topic NOUN cblr-1731 539 6 , , PUNCT cblr-1731 539 7 including include VERB cblr-1731 539 8 the the DET cblr-1731 539 9 character character NOUN cblr-1731 539 10 and and CCONJ cblr-1731 539 11 duties duty NOUN cblr-1731 539 12 of of ADP cblr-1731 539 13 the the DET cblr-1731 539 14 board board NOUN cblr-1731 539 15 of of ADP cblr-1731 539 16 directors director NOUN cblr-1731 539 17 , , PUNCT cblr-1731 539 18 the the DET cblr-1731 539 19 strength strength NOUN cblr-1731 539 20 of of ADP cblr-1731 539 21 corporate corporate ADJ cblr-1731 539 22 chief chief ADJ cblr-1731 539 23 executives executive NOUN cblr-1731 539 24 , , PUNCT cblr-1731 539 25 and and CCONJ cblr-1731 539 26 the the DET cblr-1731 539 27 degree degree NOUN cblr-1731 539 28 of of ADP cblr-1731 539 29 organizational organizational ADJ cblr-1731 539 30 direction direction NOUN cblr-1731 539 31 harnessed harness VERB cblr-1731 539 32 by by ADP cblr-1731 539 33 trust trust NOUN cblr-1731 539 34 versus versus ADP cblr-1731 539 35 control control PROPN cblr-1731 539 36 . . PUNCT cblr-1731 540 1 american american ADJ cblr-1731 540 2 policies policy NOUN cblr-1731 540 3 on on ADP cblr-1731 540 4 all all DET cblr-1731 540 5 such such ADJ cblr-1731 540 6 topics topic NOUN cblr-1731 540 7 have have AUX cblr-1731 540 8 taken take VERB cblr-1731 540 9 directions direction NOUN cblr-1731 540 10 during during ADP cblr-1731 540 11 the the DET cblr-1731 540 12 past past ADJ cblr-1731 540 13 thirty thirty NUM cblr-1731 540 14 years year NOUN cblr-1731 540 15 that that PRON cblr-1731 540 16 are be AUX cblr-1731 540 17 the the DET cblr-1731 540 18 opposite opposite NOUN cblr-1731 540 19 of of ADP cblr-1731 540 20 the the DET cblr-1731 540 21 direction direction NOUN cblr-1731 540 22 berkshire berkshire NOUN cblr-1731 540 23 has have AUX cblr-1731 540 24 taken take VERB cblr-1731 540 25 . . PUNCT cblr-1731 541 1 1 1 X cblr-1731 541 2 . . X cblr-1731 541 3 board board NOUN cblr-1731 541 4 role role NOUN cblr-1731 541 5 during during ADP cblr-1731 541 6 the the DET cblr-1731 541 7 latter latter ADJ cblr-1731 541 8 half half NOUN cblr-1731 541 9 of of ADP cblr-1731 541 10 berkshire berkshire NOUN cblr-1731 541 11 ’s ’s PART cblr-1731 541 12 rise rise NOUN cblr-1731 541 13 to to ADP cblr-1731 541 14 prominence prominence NOUN cblr-1731 541 15 , , PUNCT cblr-1731 541 16 boards board NOUN cblr-1731 541 17 of of ADP cblr-1731 541 18 american american ADJ cblr-1731 541 19 companies company NOUN cblr-1731 541 20 shifted shift VERB cblr-1731 541 21 from from ADP cblr-1731 541 22 the the DET cblr-1731 541 23 advisory advisory ADJ cblr-1731 541 24 model model NOUN cblr-1731 541 25 to to ADP cblr-1731 541 26 the the DET cblr-1731 541 27 monitoring monitoring NOUN cblr-1731 541 28 model model NOUN cblr-1731 541 29 as as SCONJ cblr-1731 541 30 people people NOUN cblr-1731 541 31 from from ADP cblr-1731 541 32 multiple multiple ADJ cblr-1731 541 33 vantage vantage NOUN cblr-1731 541 34 points point NOUN cblr-1731 541 35 heralded herald VERB cblr-1731 541 36 the the DET cblr-1731 541 37 outside outside ADJ cblr-1731 541 38 director director NOUN cblr-1731 541 39 as as ADP cblr-1731 541 40 the the DET cblr-1731 541 41 solution solution NOUN cblr-1731 541 42 to to ADP cblr-1731 541 43 governance governance NOUN cblr-1731 541 44 challenges.130 challenges.130 NOUN cblr-1731 541 45 the the DET cblr-1731 541 46 rise rise NOUN cblr-1731 541 47 of of ADP cblr-1731 541 48 independent independent ADJ cblr-1731 541 49 directors director NOUN cblr-1731 541 50 displaced displace VERB cblr-1731 541 51 the the DET cblr-1731 541 52 importance importance NOUN cblr-1731 541 53 of of ADP cblr-1731 541 54 expertise expertise NOUN cblr-1731 541 55 and and CCONJ cblr-1731 541 56 obscured obscure VERB cblr-1731 541 57 the the DET cblr-1731 541 58 traits trait NOUN cblr-1731 541 59 berkshire berkshire NOUN cblr-1731 541 60 boasts boast VERB cblr-1731 541 61 in in ADP cblr-1731 541 62 its its PRON cblr-1731 541 63 directors director NOUN cblr-1731 541 64 , , PUNCT cblr-1731 541 65 especially especially ADV cblr-1731 541 66 ownerorientation ownerorientation NOUN cblr-1731 541 67 , , PUNCT cblr-1731 541 68 understanding understanding NOUN cblr-1731 541 69 of of ADP cblr-1731 541 70 business business NOUN cblr-1731 541 71 , , PUNCT cblr-1731 541 72 and and CCONJ cblr-1731 541 73 commitment commitment NOUN cblr-1731 541 74 to to ADP cblr-1731 541 75 berkshire berkshire PROPN cblr-1731 541 76 ’s ’s PART cblr-1731 541 77 prosperity prosperity NOUN cblr-1731 541 78 . . PUNCT cblr-1731 542 1 these these DET cblr-1731 542 2 policy policy NOUN cblr-1731 542 3 paths path NOUN cblr-1731 542 4 were be AUX cblr-1731 542 5 driven drive VERB cblr-1731 542 6 largely largely ADV cblr-1731 542 7 by by ADP cblr-1731 542 8 periodic periodic ADJ cblr-1731 542 9 needs need NOUN cblr-1731 542 10 to to PART cblr-1731 542 11 quell quell VERB cblr-1731 542 12 political political ADJ cblr-1731 542 13 disputes dispute NOUN cblr-1731 542 14 or or CCONJ cblr-1731 542 15 respond respond VERB cblr-1731 542 16 to to ADP cblr-1731 542 17 crises crisis NOUN cblr-1731 542 18 . . PUNCT cblr-1731 543 1 the the DET cblr-1731 543 2 appeal appeal NOUN cblr-1731 543 3 to to ADP cblr-1731 543 4 independence independence NOUN cblr-1731 543 5 helped helped AUX cblr-1731 543 6 generate generate VERB cblr-1731 543 7 consensus consensus NOUN cblr-1731 543 8 while while SCONJ cblr-1731 543 9 devaluing devalue VERB cblr-1731 543 10 expertise.131 expertise.131 NUM cblr-1731 543 11 director director NOUN cblr-1731 543 12 independence independence NOUN cblr-1731 543 13 remains remain VERB cblr-1731 543 14 a a DET cblr-1731 543 15 valued value VERB cblr-1731 543 16 characteristic characteristic NOUN cblr-1731 543 17 in in ADP cblr-1731 543 18 corporate corporate ADJ cblr-1731 543 19 governance governance NOUN cblr-1731 543 20 , , PUNCT cblr-1731 543 21 but but CCONJ cblr-1731 543 22 expertise expertise NOUN cblr-1731 543 23 is be AUX cblr-1731 543 24 making make VERB cblr-1731 543 25 a a DET cblr-1731 543 26 comeback comeback NOUN cblr-1731 543 27 . . PUNCT cblr-1731 544 1 thus thus ADV cblr-1731 544 2 , , PUNCT cblr-1731 544 3 the the DET cblr-1731 544 4 sarbanes sarbanes PROPN cblr-1731 544 5 - - PUNCT cblr-1731 544 6 oxley oxley ADJ cblr-1731 544 7 act act NOUN cblr-1731 544 8 all all PRON cblr-1731 544 9 but but CCONJ cblr-1731 544 10 requires require VERB cblr-1731 544 11 financial financial ADJ cblr-1731 544 12 expertise expertise NOUN cblr-1731 544 13 on on ADP cblr-1731 544 14 the the DET cblr-1731 544 15 board,132 board,132 PROPN cblr-1731 544 16 and and CCONJ cblr-1731 544 17 the the DET cblr-1731 544 18 dodd dodd PROPN cblr-1731 544 19 - - PUNCT cblr-1731 544 20 frank frank PROPN cblr-1731 544 21 act act PROPN cblr-1731 544 22 130 130 NUM cblr-1731 544 23 lawrence lawrence PROPN cblr-1731 544 24 a. a. PROPN cblr-1731 544 25 cunningham cunningham PROPN cblr-1731 544 26 , , PUNCT cblr-1731 544 27 rediscovering rediscover VERB cblr-1731 544 28 board board NOUN cblr-1731 544 29 expertise expertise NOUN cblr-1731 544 30 : : PUNCT cblr-1731 544 31 legal legal ADJ cblr-1731 544 32 implications implication NOUN cblr-1731 544 33 of of ADP cblr-1731 544 34 the the DET cblr-1731 544 35 empirical empirical ADJ cblr-1731 544 36 literature literature NOUN cblr-1731 544 37 , , PUNCT cblr-1731 544 38 77 77 NUM cblr-1731 544 39 u. u. NOUN cblr-1731 544 40 cin cin PROPN cblr-1731 544 41 . . PUNCT cblr-1731 545 1 l. l. PROPN cblr-1731 545 2 rev rev PROPN cblr-1731 545 3 . . PROPN cblr-1731 545 4 465 465 NUM cblr-1731 545 5 , , PUNCT cblr-1731 545 6 469–70 469–70 PROPN cblr-1731 545 7 ( ( PUNCT cblr-1731 545 8 2008 2008 NUM cblr-1731 545 9 ) ) PUNCT cblr-1731 545 10 . . PUNCT cblr-1731 546 1 131 131 NUM cblr-1731 546 2 see see VERB cblr-1731 546 3 generally generally ADV cblr-1731 546 4 stephen stephen PROPN cblr-1731 546 5 m. m. PROPN cblr-1731 546 6 bainbridge bainbridge PROPN cblr-1731 546 7 , , PUNCT cblr-1731 546 8 a a DET cblr-1731 546 9 critique critique NOUN cblr-1731 546 10 of of ADP cblr-1731 546 11 the the DET cblr-1731 546 12 nyse nyse PROPN cblr-1731 546 13 ’s ’s PART cblr-1731 546 14 director director NOUN cblr-1731 546 15 independence independence NOUN cblr-1731 546 16 listing list VERB cblr-1731 546 17 standards standard NOUN cblr-1731 546 18 , , PUNCT cblr-1731 546 19 30 30 NUM cblr-1731 546 20 sec sec PROPN cblr-1731 546 21 . . PUNCT cblr-1731 547 1 reg reg PROPN cblr-1731 547 2 . . PUNCT cblr-1731 548 1 l.j l.j PROPN cblr-1731 548 2 . . PROPN cblr-1731 548 3 370 370 NUM cblr-1731 548 4 , , PUNCT cblr-1731 548 5 381 381 NUM cblr-1731 548 6 ( ( PUNCT cblr-1731 548 7 2002 2002 NUM cblr-1731 548 8 ) ) PUNCT cblr-1731 548 9 . . PUNCT cblr-1731 549 1 132 132 NUM cblr-1731 549 2 see see VERB cblr-1731 549 3 sarbanes sarbanes PROPN cblr-1731 549 4 - - PUNCT cblr-1731 549 5 oxley oxley ADJ cblr-1731 549 6 act act NOUN cblr-1731 549 7 of of ADP cblr-1731 549 8 2002 2002 NUM cblr-1731 549 9 , , PUNCT cblr-1731 549 10 pub pub NOUN cblr-1731 549 11 . . PUNCT cblr-1731 550 1 l. l. PROPN cblr-1731 550 2 no no INTJ cblr-1731 550 3 . . PUNCT cblr-1731 551 1 107 107 NUM cblr-1731 551 2 - - SYM cblr-1731 551 3 204 204 NUM cblr-1731 551 4 , , PUNCT cblr-1731 551 5 116 116 NUM cblr-1731 551 6 stat stat NOUN cblr-1731 551 7 . . PUNCT cblr-1731 552 1 745 745 NUM cblr-1731 552 2 ( ( PUNCT cblr-1731 552 3 2002 2002 NUM cblr-1731 552 4 ) ) PUNCT cblr-1731 552 5 ( ( PUNCT cblr-1731 552 6 codified codify VERB cblr-1731 552 7 at at ADP cblr-1731 552 8 15 15 NUM cblr-1731 552 9 u.s.c u.s.c NOUN cblr-1731 552 10 . . PUNCT cblr-1731 553 1 § § PROPN cblr-1731 553 2 § § PROPN cblr-1731 553 3 7201–66 7201–66 NUM cblr-1731 553 4 ( ( PUNCT cblr-1731 553 5 2012 2012 NUM cblr-1731 553 6 ) ) PUNCT cblr-1731 553 7 ) ) PUNCT cblr-1731 553 8 ; ; PUNCT cblr-1731 553 9 17 17 NUM cblr-1731 553 10 c.f.r c.f.r NOUN cblr-1731 553 11 . . PUNCT cblr-1731 554 1 § § PROPN cblr-1731 554 2 229.407(d)(5 229.407(d)(5 NUM cblr-1731 554 3 ) ) PUNCT cblr-1731 554 4 ( ( PUNCT cblr-1731 554 5 2014 2014 NUM cblr-1731 554 6 ) ) PUNCT cblr-1731 554 7 ( ( PUNCT cblr-1731 554 8 item item NOUN cblr-1731 554 9 407(d)(5 407(d)(5 PROPN cblr-1731 554 10 ) ) PUNCT cblr-1731 554 11 of of ADP cblr-1731 554 12 regulation regulation NOUN cblr-1731 554 13 s s NOUN cblr-1731 554 14 - - PROPN cblr-1731 554 15 k k NOUN cblr-1731 554 16 ) ) PUNCT cblr-1731 554 17 ; ; PUNCT cblr-1731 554 18 17 17 NUM cblr-1731 554 19 c.f.r c.f.r NOUN cblr-1731 554 20 . . PUNCT cblr-1731 555 1 § § PROPN cblr-1731 555 2 240.10a-3 240.10a-3 NUM cblr-1731 555 3 ( ( PUNCT cblr-1731 555 4 2014 2014 NUM cblr-1731 555 5 ) ) PUNCT cblr-1731 555 6 ( ( PUNCT cblr-1731 555 7 sec sec PROPN cblr-1731 555 8 rule rule NOUN cblr-1731 555 9 10a-3 10a-3 NUM cblr-1731 555 10 ) ) PUNCT cblr-1731 555 11 . . PUNCT cblr-1731 556 1 cunningham cunningham PROPN cblr-1731 556 2 – – PUNCT cblr-1731 556 3 final final ADJ cblr-1731 556 4 46 46 NUM cblr-1731 556 5 columbia columbia PROPN cblr-1731 556 6 business business NOUN cblr-1731 556 7 law law PROPN cblr-1731 556 8 review review NOUN cblr-1731 557 1 [ [ X cblr-1731 557 2 vol vol NOUN cblr-1731 557 3 . . PUNCT cblr-1731 557 4 2016 2016 NUM cblr-1731 557 5 contemplates contemplate VERB cblr-1731 557 6 a a DET cblr-1731 557 7 similar similar ADJ cblr-1731 557 8 approach approach NOUN cblr-1731 557 9 to to ADP cblr-1731 557 10 compensation compensation NOUN cblr-1731 557 11 committees.133 committees.133 NOUN cblr-1731 557 12 as as ADP cblr-1731 557 13 my my PRON cblr-1731 557 14 colleague colleague NOUN cblr-1731 557 15 and and CCONJ cblr-1731 557 16 now now ADV cblr-1731 557 17 securities security NOUN cblr-1731 557 18 and and CCONJ cblr-1731 557 19 exchange exchange PROPN cblr-1731 557 20 commission commission PROPN cblr-1731 557 21 commissioner commissioner NOUN cblr-1731 557 22 lisa lisa PROPN cblr-1731 557 23 fairfax fairfax PROPN cblr-1731 557 24 has have AUX cblr-1731 557 25 explained explain VERB cblr-1731 557 26 , , PUNCT cblr-1731 557 27 there there PRON cblr-1731 557 28 is be VERB cblr-1731 557 29 a a DET cblr-1731 557 30 case case NOUN cblr-1731 557 31 for for ADP cblr-1731 557 32 the the DET cblr-1731 557 33 inside inside ADJ cblr-1731 557 34 director director NOUN cblr-1731 557 35 , , PUNCT cblr-1731 557 36 even even ADV cblr-1731 557 37 if if SCONJ cblr-1731 557 38 an an DET cblr-1731 557 39 uneasy uneasy ADJ cblr-1731 557 40 one.134 one.134 NOUN cblr-1731 557 41 the the DET cblr-1731 557 42 berkshire berkshire PROPN cblr-1731 557 43 model model NOUN cblr-1731 557 44 proves prove VERB cblr-1731 557 45 both both CCONJ cblr-1731 557 46 the the DET cblr-1731 557 47 value value NOUN cblr-1731 557 48 of of ADP cblr-1731 557 49 expertise expertise NOUN cblr-1731 557 50 and and CCONJ cblr-1731 557 51 the the DET cblr-1731 557 52 value value NOUN cblr-1731 557 53 of of ADP cblr-1731 557 54 having have VERB cblr-1731 557 55 some some DET cblr-1731 557 56 deliberative deliberative ADJ cblr-1731 557 57 body body NOUN cblr-1731 557 58 available available ADJ cblr-1731 557 59 to to PART cblr-1731 557 60 handle handle VERB cblr-1731 557 61 crises crisis NOUN cblr-1731 557 62 ( ( PUNCT cblr-1731 557 63 e.g. e.g. ADV cblr-1731 557 64 , , PUNCT cblr-1731 557 65 the the DET cblr-1731 557 66 sokol sokol PROPN cblr-1731 557 67 - - PUNCT cblr-1731 557 68 lubrizol lubrizol VERB cblr-1731 557 69 affair135 affair135 PROPN cblr-1731 557 70 ) ) PUNCT cblr-1731 557 71 and and CCONJ cblr-1731 557 72 to to PART cblr-1731 557 73 steer steer VERB cblr-1731 557 74 the the DET cblr-1731 557 75 business business NOUN cblr-1731 557 76 during during ADP cblr-1731 557 77 transitions transition NOUN cblr-1731 557 78 ( ( PUNCT cblr-1731 557 79 buffett buffett PROPN cblr-1731 557 80 is be AUX cblr-1731 557 81 relying rely VERB cblr-1731 557 82 heavily heavily ADV cblr-1731 557 83 on on ADP cblr-1731 557 84 the the DET cblr-1731 557 85 berkshire berkshire PROPN cblr-1731 557 86 board board PROPN cblr-1731 557 87 to to PART cblr-1731 557 88 assure assure VERB cblr-1731 557 89 continuity continuity NOUN cblr-1731 557 90 after after SCONJ cblr-1731 557 91 he he PRON cblr-1731 557 92 leaves leave VERB cblr-1731 557 93 the the DET cblr-1731 557 94 scene).136 scene).136 NOUN cblr-1731 557 95 the the DET cblr-1731 557 96 berkshire berkshire NOUN cblr-1731 557 97 model model NOUN cblr-1731 557 98 suggests suggest VERB cblr-1731 557 99 that that SCONJ cblr-1731 557 100 there there PRON cblr-1731 557 101 are be VERB cblr-1731 557 102 both both DET cblr-1731 557 103 reasons reason NOUN cblr-1731 557 104 to to PART cblr-1731 557 105 have have VERB cblr-1731 557 106 a a DET cblr-1731 557 107 board board NOUN cblr-1731 557 108 and and CCONJ cblr-1731 557 109 reasons reason NOUN cblr-1731 557 110 to to PART cblr-1731 557 111 oppose oppose VERB cblr-1731 557 112 its its PRON cblr-1731 557 113 primacy.137 primacy.137 NOUN cblr-1731 557 114 berkshire berkshire NOUN cblr-1731 557 115 shows show VERB cblr-1731 557 116 that that SCONJ cblr-1731 557 117 a a DET cblr-1731 557 118 corporation corporation NOUN cblr-1731 557 119 can can AUX cblr-1731 557 120 thrive thrive VERB cblr-1731 557 121 with with ADP cblr-1731 557 122 an an DET cblr-1731 557 123 advisory advisory ADJ cblr-1731 557 124 board board NOUN cblr-1731 557 125 of of ADP cblr-1731 557 126 the the DET cblr-1731 557 127 old old ADJ cblr-1731 557 128 - - PUNCT cblr-1731 557 129 fashioned fashioned ADJ cblr-1731 557 130 model model NOUN cblr-1731 557 131 . . PUNCT cblr-1731 558 1 2 2 X cblr-1731 558 2 . . X cblr-1731 558 3 ceo ceo NOUN cblr-1731 558 4 power power NOUN cblr-1731 558 5 before before ADP cblr-1731 558 6 the the DET cblr-1731 558 7 1990s 1990s NUM cblr-1731 558 8 , , PUNCT cblr-1731 558 9 ceos ceo NOUN cblr-1731 558 10 wielded wield VERB cblr-1731 558 11 substantial substantial ADJ cblr-1731 558 12 power power NOUN cblr-1731 558 13 , , PUNCT cblr-1731 558 14 selecting select VERB cblr-1731 558 15 the the DET cblr-1731 558 16 directors director NOUN cblr-1731 558 17 and and CCONJ cblr-1731 558 18 enjoying enjoy VERB cblr-1731 558 19 the the DET cblr-1731 558 20 latitude latitude NOUN cblr-1731 558 21 that that PRON cblr-1731 558 22 comes come VERB cblr-1731 558 23 with with ADP cblr-1731 558 24 deferential deferential ADJ cblr-1731 558 25 or or CCONJ cblr-1731 558 26 passive passive ADJ cblr-1731 558 27 shareholders shareholder NOUN cblr-1731 558 28 . . PUNCT cblr-1731 559 1 the the DET cblr-1731 559 2 rise rise NOUN cblr-1731 559 3 of of ADP cblr-1731 559 4 the the DET cblr-1731 559 5 independent independent ADJ cblr-1731 559 6 board board NOUN cblr-1731 559 7 and and CCONJ cblr-1731 559 8 of of ADP cblr-1731 559 9 shareholder shareholder NOUN cblr-1731 559 10 activism activism NOUN cblr-1731 559 11 changed change VERB cblr-1731 559 12 this this DET cblr-1731 559 13 dynamic dynamic ADJ cblr-1731 559 14 , , PUNCT cblr-1731 559 15 as as SCONJ cblr-1731 559 16 boards board NOUN cblr-1731 559 17 and and CCONJ cblr-1731 559 18 owners owner NOUN cblr-1731 559 19 gained gain VERB cblr-1731 559 20 influence influence NOUN cblr-1731 559 21 and and CCONJ cblr-1731 559 22 exercised exercise VERB cblr-1731 559 23 it it PRON cblr-1731 559 24 to to PART cblr-1731 559 25 curtail curtail VERB cblr-1731 559 26 executive executive ADJ cblr-1731 559 27 power power NOUN cblr-1731 559 28 . . PUNCT cblr-1731 560 1 the the DET cblr-1731 560 2 long long ADJ cblr-1731 560 3 - - PUNCT cblr-1731 560 4 term term NOUN cblr-1731 560 5 effects effect NOUN cblr-1731 560 6 of of ADP cblr-1731 560 7 such such DET cblr-1731 560 8 a a DET cblr-1731 560 9 shift shift NOUN cblr-1731 560 10 are be AUX cblr-1731 560 11 yet yet ADV cblr-1731 560 12 to to PART cblr-1731 560 13 crystalize crystalize VERB cblr-1731 560 14 , , PUNCT cblr-1731 560 15 but but CCONJ cblr-1731 560 16 are be AUX cblr-1731 560 17 likely likely ADJ cblr-1731 560 18 to to PART cblr-1731 560 19 be be AUX cblr-1731 560 20 133 133 NUM cblr-1731 560 21 see see NOUN cblr-1731 560 22 dodd dodd PROPN cblr-1731 560 23 - - PUNCT cblr-1731 560 24 frank frank PROPN cblr-1731 560 25 wall wall PROPN cblr-1731 560 26 street street PROPN cblr-1731 560 27 reform reform PROPN cblr-1731 560 28 and and CCONJ cblr-1731 560 29 consumer consumer NOUN cblr-1731 560 30 protection protection PROPN cblr-1731 560 31 act act PROPN cblr-1731 560 32 , , PUNCT cblr-1731 560 33 pub pub NOUN cblr-1731 560 34 . . PUNCT cblr-1731 561 1 l. l. PROPN cblr-1731 561 2 no no INTJ cblr-1731 561 3 . . PROPN cblr-1731 561 4 111 111 NUM cblr-1731 561 5 - - SYM cblr-1731 561 6 203 203 NUM cblr-1731 561 7 § § PROPN cblr-1731 561 8 952 952 NUM cblr-1731 561 9 , , PUNCT cblr-1731 561 10 124 124 NUM cblr-1731 561 11 stat stat NOUN cblr-1731 561 12 . . PUNCT cblr-1731 562 1 1376 1376 NUM cblr-1731 562 2 , , PUNCT cblr-1731 562 3 1900–03 1900–03 NUM cblr-1731 562 4 ( ( PUNCT cblr-1731 562 5 2010 2010 NUM cblr-1731 562 6 ) ) PUNCT cblr-1731 562 7 ( ( PUNCT cblr-1731 562 8 codified codify VERB cblr-1731 562 9 at at ADP cblr-1731 562 10 15 15 NUM cblr-1731 562 11 u.s.c u.s.c ADJ cblr-1731 562 12 . . PUNCT cblr-1731 563 1 § § PROPN cblr-1731 563 2 78j-3 78j-3 NUM cblr-1731 563 3 ( ( PUNCT cblr-1731 563 4 2012 2012 NUM cblr-1731 563 5 ) ) PUNCT cblr-1731 563 6 ) ) PUNCT cblr-1731 563 7 ; ; PUNCT cblr-1731 563 8 17 17 NUM cblr-1731 563 9 c.f.r c.f.r NOUN cblr-1731 563 10 . . PUNCT cblr-1731 564 1 § § PROPN cblr-1731 564 2 240.10c-1 240.10c-1 NOUN cblr-1731 564 3 ( ( PUNCT cblr-1731 564 4 2014 2014 NUM cblr-1731 564 5 ) ) PUNCT cblr-1731 564 6 ( ( PUNCT cblr-1731 564 7 sec sec PROPN cblr-1731 564 8 rule rule NOUN cblr-1731 564 9 10c 10c NOUN cblr-1731 564 10 - - PUNCT cblr-1731 564 11 l l NOUN cblr-1731 564 12 ) ) PUNCT cblr-1731 564 13 . . PUNCT cblr-1731 565 1 134 134 NUM cblr-1731 565 2 lisa lisa PROPN cblr-1731 565 3 m. m. NOUN cblr-1731 565 4 fairfax fairfax NOUN cblr-1731 565 5 , , PUNCT cblr-1731 565 6 the the DET cblr-1731 565 7 uneasy uneasy ADJ cblr-1731 565 8 case case NOUN cblr-1731 565 9 for for ADP cblr-1731 565 10 the the DET cblr-1731 565 11 inside inside ADJ cblr-1731 565 12 director director NOUN cblr-1731 565 13 , , PUNCT cblr-1731 565 14 96 96 NUM cblr-1731 565 15 iowa iowa PROPN cblr-1731 565 16 l. l. PROPN cblr-1731 565 17 rev rev PROPN cblr-1731 565 18 . . PROPN cblr-1731 565 19 127 127 NUM cblr-1731 565 20 ( ( PUNCT cblr-1731 565 21 2010 2010 NUM cblr-1731 565 22 ) ) PUNCT cblr-1731 565 23 . . PUNCT cblr-1731 566 1 135 135 NUM cblr-1731 566 2 see see VERB cblr-1731 566 3 supra supra PROPN cblr-1731 566 4 note note PROPN cblr-1731 566 5 27 27 NUM cblr-1731 566 6 and and CCONJ cblr-1731 566 7 accompanying accompany VERB cblr-1731 566 8 text text NOUN cblr-1731 566 9 . . PUNCT cblr-1731 567 1 136 136 NUM cblr-1731 567 2 see see VERB cblr-1731 567 3 the the DET cblr-1731 567 4 essays essay NOUN cblr-1731 567 5 of of ADP cblr-1731 567 6 warren warren PROPN cblr-1731 567 7 buffett buffett PROPN cblr-1731 567 8 , , PUNCT cblr-1731 567 9 supra supra PROPN cblr-1731 567 10 note note PROPN cblr-1731 567 11 15 15 NUM cblr-1731 567 12 , , PUNCT cblr-1731 567 13 at at ADP cblr-1731 567 14 296 296 NUM cblr-1731 567 15 ( ( PUNCT cblr-1731 567 16 discussing discuss VERB cblr-1731 567 17 berkshire berkshire NOUN cblr-1731 567 18 ’s ’s PART cblr-1731 567 19 future future NOUN cblr-1731 567 20 and and CCONJ cblr-1731 567 21 stressing stress VERB cblr-1731 567 22 that that DET cblr-1731 567 23 berkshire berkshire NOUN cblr-1731 567 24 has have VERB cblr-1731 567 25 “ " PUNCT cblr-1731 567 26 an an DET cblr-1731 567 27 extraordinarily extraordinarily ADV cblr-1731 567 28 knowledgeable knowledgeable ADJ cblr-1731 567 29 and and CCONJ cblr-1731 567 30 business business NOUN cblr-1731 567 31 - - PUNCT cblr-1731 567 32 oriented orient VERB cblr-1731 567 33 board board NOUN cblr-1731 567 34 of of ADP cblr-1731 567 35 directors director NOUN cblr-1731 567 36 ready ready ADJ cblr-1731 567 37 to to PART cblr-1731 567 38 carry carry VERB cblr-1731 567 39 out out ADP cblr-1731 567 40 [ [ X cblr-1731 567 41 its its PRON cblr-1731 567 42 ] ] X cblr-1731 567 43 promise promise NOUN cblr-1731 567 44 of of ADP cblr-1731 567 45 partnership partnership NOUN cblr-1731 567 46 ” " PUNCT cblr-1731 567 47 ) ) PUNCT cblr-1731 567 48 . . PUNCT cblr-1731 568 1 137 137 NUM cblr-1731 568 2 compare compare VERB cblr-1731 568 3 kelli kelli PROPN cblr-1731 568 4 a. a. PROPN cblr-1731 568 5 alces alces PROPN cblr-1731 568 6 , , PUNCT cblr-1731 568 7 beyond beyond ADP cblr-1731 568 8 the the DET cblr-1731 568 9 board board NOUN cblr-1731 568 10 of of ADP cblr-1731 568 11 directors director NOUN cblr-1731 568 12 , , PUNCT cblr-1731 568 13 46 46 NUM cblr-1731 568 14 wake wake VERB cblr-1731 568 15 forest forest PROPN cblr-1731 568 16 l. l. PROPN cblr-1731 568 17 rev rev PROPN cblr-1731 568 18 . . PROPN cblr-1731 568 19 783 783 NUM cblr-1731 568 20 , , PUNCT cblr-1731 568 21 783–84 783–84 NOUN cblr-1731 568 22 ( ( PUNCT cblr-1731 568 23 2011 2011 NUM cblr-1731 568 24 ) ) PUNCT cblr-1731 568 25 ( ( PUNCT cblr-1731 568 26 arguing argue VERB cblr-1731 568 27 for for ADP cblr-1731 568 28 the the DET cblr-1731 568 29 abolition abolition NOUN cblr-1731 568 30 of of ADP cblr-1731 568 31 the the DET cblr-1731 568 32 corporate corporate ADJ cblr-1731 568 33 board board NOUN cblr-1731 568 34 as as ADP cblr-1731 568 35 anachronistic anachronistic ADJ cblr-1731 568 36 ) ) PUNCT cblr-1731 568 37 , , PUNCT cblr-1731 568 38 with with ADP cblr-1731 568 39 stephen stephen PROPN cblr-1731 568 40 m. m. PROPN cblr-1731 568 41 bainbridge bainbridge PROPN cblr-1731 568 42 , , PUNCT cblr-1731 568 43 director director NOUN cblr-1731 568 44 primacy primacy NOUN cblr-1731 568 45 : : PUNCT cblr-1731 568 46 the the DET cblr-1731 568 47 means mean NOUN cblr-1731 568 48 and and CCONJ cblr-1731 568 49 ends end NOUN cblr-1731 568 50 of of ADP cblr-1731 568 51 corporate corporate ADJ cblr-1731 568 52 governance governance NOUN cblr-1731 568 53 , , PUNCT cblr-1731 568 54 97 97 NUM cblr-1731 568 55 nw nw NOUN cblr-1731 568 56 . . PUNCT cblr-1731 568 57 u. u. PROPN cblr-1731 568 58 l. l. PROPN cblr-1731 568 59 rev rev PROPN cblr-1731 568 60 . . PROPN cblr-1731 568 61 547 547 NUM cblr-1731 568 62 , , PUNCT cblr-1731 568 63 550 550 NUM cblr-1731 568 64 ( ( PUNCT cblr-1731 568 65 2003 2003 NUM cblr-1731 568 66 ) ) PUNCT cblr-1731 568 67 ( ( PUNCT cblr-1731 568 68 arguing argue VERB cblr-1731 568 69 that that SCONJ cblr-1731 568 70 the the DET cblr-1731 568 71 corporate corporate ADJ cblr-1731 568 72 board board NOUN cblr-1731 568 73 should should AUX cblr-1731 568 74 wield wield VERB cblr-1731 568 75 considerable considerable ADJ cblr-1731 568 76 power power NOUN cblr-1731 568 77 at at ADP cblr-1731 568 78 the the DET cblr-1731 568 79 apex apex NOUN cblr-1731 568 80 of of ADP cblr-1731 568 81 the the DET cblr-1731 568 82 corporate corporate ADJ cblr-1731 568 83 hierarchy hierarchy NOUN cblr-1731 568 84 ) ) PUNCT cblr-1731 568 85 . . PUNCT cblr-1731 569 1 cunningham cunningham PROPN cblr-1731 569 2 – – PUNCT cblr-1731 569 3 final final ADJ cblr-1731 569 4 no no NOUN cblr-1731 569 5 . . NOUN cblr-1731 569 6 1:1 1:1 NUM cblr-1731 569 7 ] ] PUNCT cblr-1731 569 8 berkshire berkshire PROPN cblr-1731 569 9 ’s ’s PART cblr-1731 569 10 blemishes blemish NOUN cblr-1731 569 11 47 47 NUM cblr-1731 569 12 sweeping.138 sweeping.138 VERB cblr-1731 569 13 the the DET cblr-1731 569 14 berkshire berkshire NOUN cblr-1731 569 15 model model NOUN cblr-1731 569 16 is be AUX cblr-1731 569 17 a a DET cblr-1731 569 18 reminder reminder NOUN cblr-1731 569 19 of of ADP cblr-1731 569 20 the the DET cblr-1731 569 21 value value NOUN cblr-1731 569 22 of of ADP cblr-1731 569 23 executive executive ADJ cblr-1731 569 24 power power NOUN cblr-1731 569 25 and and CCONJ cblr-1731 569 26 a a DET cblr-1731 569 27 cautionary cautionary ADJ cblr-1731 569 28 note note NOUN cblr-1731 569 29 about about ADP cblr-1731 569 30 such such ADJ cblr-1731 569 31 broad broad ADJ cblr-1731 569 32 scale scale NOUN cblr-1731 569 33 change change NOUN cblr-1731 569 34 . . PUNCT cblr-1731 570 1 indeed indeed ADV cblr-1731 570 2 , , PUNCT cblr-1731 570 3 in in ADP cblr-1731 570 4 his his PRON cblr-1731 570 5 role role NOUN cblr-1731 570 6 as as ADP cblr-1731 570 7 chief chief ADJ cblr-1731 570 8 executive executive NOUN cblr-1731 570 9 , , PUNCT cblr-1731 570 10 buffett buffett PROPN cblr-1731 570 11 has have AUX cblr-1731 570 12 avoided avoid VERB cblr-1731 570 13 the the DET cblr-1731 570 14 trap trap NOUN cblr-1731 570 15 of of ADP cblr-1731 570 16 other other ADJ cblr-1731 570 17 icons icon NOUN cblr-1731 570 18 , , PUNCT cblr-1731 570 19 who who PRON cblr-1731 570 20 may may AUX cblr-1731 570 21 be be AUX cblr-1731 570 22 prone prone ADJ cblr-1731 570 23 to to ADP cblr-1731 570 24 vanity vanity NOUN cblr-1731 570 25 or or CCONJ cblr-1731 570 26 licentiousness licentiousness NOUN cblr-1731 570 27 , , PUNCT cblr-1731 570 28 proving prove VERB cblr-1731 570 29 that that SCONJ cblr-1731 570 30 such such ADJ cblr-1731 570 31 flaws flaw NOUN cblr-1731 570 32 are be AUX cblr-1731 570 33 not not PART cblr-1731 570 34 inevitable.139 inevitable.139 ADJ cblr-1731 570 35 berkshire berkshire NOUN cblr-1731 570 36 ’s ’s PART cblr-1731 570 37 plan plan NOUN cblr-1731 570 38 to to PART cblr-1731 570 39 divide divide VERB cblr-1731 570 40 buffett buffett PROPN cblr-1731 570 41 ’s ’s PART cblr-1731 570 42 historical historical ADJ cblr-1731 570 43 roles role NOUN cblr-1731 570 44 as as ADP cblr-1731 570 45 chairman chairman NOUN cblr-1731 570 46 and and CCONJ cblr-1731 570 47 chief chief ADJ cblr-1731 570 48 executive executive NOUN cblr-1731 570 49 between between ADP cblr-1731 570 50 two two NUM cblr-1731 570 51 individuals individual NOUN cblr-1731 570 52 shows show VERB cblr-1731 570 53 the the DET cblr-1731 570 54 appeal appeal NOUN cblr-1731 570 55 of of ADP cblr-1731 570 56 governance governance NOUN cblr-1731 570 57 design design NOUN cblr-1731 570 58 flexibility flexibility NOUN cblr-1731 570 59 for for ADP cblr-1731 570 60 different different ADJ cblr-1731 570 61 contexts context NOUN cblr-1731 570 62 — — PUNCT cblr-1731 570 63 uniting unite VERB cblr-1731 570 64 the the DET cblr-1731 570 65 roles role NOUN cblr-1731 570 66 is be AUX cblr-1731 570 67 best good ADJ cblr-1731 570 68 during during ADP cblr-1731 570 69 buffett buffett PROPN cblr-1731 570 70 ’s ’s PART cblr-1731 570 71 tenure tenure NOUN cblr-1731 570 72 but but CCONJ cblr-1731 570 73 dividing divide VERB cblr-1731 570 74 them they PRON cblr-1731 570 75 seems seem VERB cblr-1731 570 76 better well ADJ cblr-1731 570 77 postbuffett.140 postbuffett.140 ADJ cblr-1731 570 78 3 3 NUM cblr-1731 570 79 . . PUNCT cblr-1731 570 80 control control NOUN cblr-1731 570 81 versus versus ADP cblr-1731 570 82 trust trust NOUN cblr-1731 570 83 over over ADP cblr-1731 570 84 the the DET cblr-1731 570 85 past past ADJ cblr-1731 570 86 four four NUM cblr-1731 570 87 decades decade NOUN cblr-1731 570 88 , , PUNCT cblr-1731 570 89 corporate corporate ADJ cblr-1731 570 90 internal internal ADJ cblr-1731 570 91 controls control NOUN cblr-1731 570 92 became become VERB cblr-1731 570 93 a a DET cblr-1731 570 94 first first ADJ cblr-1731 570 95 - - PUNCT cblr-1731 570 96 order order NOUN cblr-1731 570 97 policy policy NOUN cblr-1731 570 98 option option NOUN cblr-1731 570 99 to to PART cblr-1731 570 100 respond respond VERB cblr-1731 570 101 to to ADP cblr-1731 570 102 a a DET cblr-1731 570 103 wide wide ADJ cblr-1731 570 104 variety variety NOUN cblr-1731 570 105 of of ADP cblr-1731 570 106 national national ADJ cblr-1731 570 107 problems problem NOUN cblr-1731 570 108 , , PUNCT cblr-1731 570 109 from from ADP cblr-1731 570 110 financial financial ADJ cblr-1731 570 111 fraud fraud NOUN cblr-1731 570 112 to to ADP cblr-1731 570 113 terrorist terrorist NOUN cblr-1731 570 114 financing.141 financing.141 ADV cblr-1731 570 115 despite despite SCONJ cblr-1731 570 116 their their PRON cblr-1731 570 117 proliferation proliferation NOUN cblr-1731 570 118 as as ADP cblr-1731 570 119 regulatory regulatory ADJ cblr-1731 570 120 tools tool NOUN cblr-1731 570 121 to to PART cblr-1731 570 122 address address VERB cblr-1731 570 123 issues issue NOUN cblr-1731 570 124 ranging range VERB cblr-1731 570 125 from from ADP cblr-1731 570 126 consumer consumer NOUN cblr-1731 570 127 price price NOUN cblr-1731 570 128 gouging gouging NOUN cblr-1731 570 129 to to ADP cblr-1731 570 130 worker worker NOUN cblr-1731 570 131 safety safety NOUN cblr-1731 570 132 and and CCONJ cblr-1731 570 133 environmental environmental ADJ cblr-1731 570 134 protection protection NOUN cblr-1731 570 135 , , PUNCT cblr-1731 570 136 it it PRON cblr-1731 570 137 is be AUX cblr-1731 570 138 difficult difficult ADJ cblr-1731 570 139 to to PART cblr-1731 570 140 evaluate evaluate VERB cblr-1731 570 141 whether whether SCONJ cblr-1731 570 142 controls control NOUN cblr-1731 570 143 work work NOUN cblr-1731 570 144 and and CCONJ cblr-1731 570 145 are be AUX cblr-1731 570 146 worth worth ADJ cblr-1731 570 147 their their PRON cblr-1731 570 148 considerable considerable ADJ cblr-1731 570 149 cost.142 cost.142 NOUN cblr-1731 570 150 corporate corporate ADJ cblr-1731 570 151 controls control NOUN cblr-1731 570 152 began begin VERB cblr-1731 570 153 as as ADP cblr-1731 570 154 internal internal ADJ cblr-1731 570 155 processes process NOUN cblr-1731 570 156 with with ADP cblr-1731 570 157 positive positive ADJ cblr-1731 570 158 aspirations aspiration NOUN cblr-1731 570 159 of of ADP cblr-1731 570 160 helping help VERB cblr-1731 570 161 a a DET cblr-1731 570 162 corporation corporation NOUN cblr-1731 570 163 meet meet VERB cblr-1731 570 164 its its PRON cblr-1731 570 165 objectives objective NOUN cblr-1731 570 166 , , PUNCT cblr-1731 570 167 a a DET cblr-1731 570 168 conception conception NOUN cblr-1731 570 169 creating create VERB cblr-1731 570 170 modest modest ADJ cblr-1731 570 171 expectations expectation NOUN cblr-1731 570 172 of of ADP cblr-1731 570 173 138 138 NUM cblr-1731 570 174 see see NOUN cblr-1731 570 175 marcel marcel PROPN cblr-1731 570 176 kahan kahan PROPN cblr-1731 570 177 & & CCONJ cblr-1731 570 178 edward edward PROPN cblr-1731 570 179 rock rock PROPN cblr-1731 570 180 , , PUNCT cblr-1731 570 181 embattled embattle VERB cblr-1731 570 182 ceos ceo NOUN cblr-1731 570 183 , , PUNCT cblr-1731 570 184 88 88 NUM cblr-1731 570 185 tex tex PROPN cblr-1731 570 186 . . PROPN cblr-1731 570 187 l. l. PROPN cblr-1731 570 188 rev rev PROPN cblr-1731 570 189 . . PROPN cblr-1731 570 190 987 987 NUM cblr-1731 570 191 , , PUNCT cblr-1731 570 192 1041 1041 NUM cblr-1731 570 193 ( ( PUNCT cblr-1731 570 194 2010 2010 NUM cblr-1731 570 195 ) ) PUNCT cblr-1731 570 196 ( ( PUNCT cblr-1731 570 197 cataloging catalog VERB cblr-1731 570 198 dozens dozen NOUN cblr-1731 570 199 of of ADP cblr-1731 570 200 profound profound ADJ cblr-1731 570 201 implications implication NOUN cblr-1731 570 202 ranging range VERB cblr-1731 570 203 from from ADP cblr-1731 570 204 regulatory regulatory ADJ cblr-1731 570 205 backlash backlash NOUN cblr-1731 570 206 to to ADP cblr-1731 570 207 international international ADJ cblr-1731 570 208 corporate corporate ADJ cblr-1731 570 209 convergence convergence NOUN cblr-1731 570 210 ) ) PUNCT cblr-1731 570 211 . . PUNCT cblr-1731 571 1 139 139 NUM cblr-1731 571 2 see see VERB cblr-1731 571 3 tom tom PROPN cblr-1731 571 4 c.w c.w PROPN cblr-1731 571 5 . . PROPN cblr-1731 571 6 lin lin PROPN cblr-1731 571 7 , , PUNCT cblr-1731 571 8 the the DET cblr-1731 571 9 corporate corporate ADJ cblr-1731 571 10 governance governance NOUN cblr-1731 571 11 of of ADP cblr-1731 571 12 iconic iconic ADJ cblr-1731 571 13 executives executive NOUN cblr-1731 571 14 , , PUNCT cblr-1731 571 15 87 87 NUM cblr-1731 571 16 notre notre PROPN cblr-1731 571 17 dame dame PROPN cblr-1731 571 18 l. l. PROPN cblr-1731 571 19 rev rev PROPN cblr-1731 571 20 . . PROPN cblr-1731 571 21 351 351 NUM cblr-1731 571 22 , , PUNCT cblr-1731 571 23 366–67 366–67 NUM cblr-1731 571 24 , , PUNCT cblr-1731 571 25 375 375 NUM cblr-1731 571 26 ( ( PUNCT cblr-1731 571 27 2011 2011 NUM cblr-1731 571 28 ) ) PUNCT cblr-1731 571 29 ( ( PUNCT cblr-1731 571 30 suggesting suggest VERB cblr-1731 571 31 that that SCONJ cblr-1731 571 32 iconic iconic ADJ cblr-1731 571 33 ceos ceos NOUN cblr-1731 571 34 win win VERB cblr-1731 571 35 too too ADV cblr-1731 571 36 much much ADJ cblr-1731 571 37 organizational organizational ADJ cblr-1731 571 38 and and CCONJ cblr-1731 571 39 legal legal ADJ cblr-1731 571 40 deference deference NOUN cblr-1731 571 41 ( ( PUNCT cblr-1731 571 42 citing cite VERB cblr-1731 571 43 steve steve PROPN cblr-1731 571 44 jobs job NOUN cblr-1731 571 45 ) ) PUNCT cblr-1731 571 46 , , PUNCT cblr-1731 571 47 are be AUX cblr-1731 571 48 prone prone ADJ cblr-1731 571 49 to to ADP cblr-1731 571 50 overconfidence overconfidence NOUN cblr-1731 571 51 ( ( PUNCT cblr-1731 571 52 citing cite VERB cblr-1731 571 53 buffett buffett PROPN cblr-1731 571 54 ) ) PUNCT cblr-1731 571 55 and and CCONJ cblr-1731 571 56 even even ADV cblr-1731 571 57 licentiousness licentiousness NOUN cblr-1731 571 58 ( ( PUNCT cblr-1731 571 59 citing cite VERB cblr-1731 571 60 michael michael PROPN cblr-1731 571 61 eisner eisner PROPN cblr-1731 571 62 ) ) PUNCT cblr-1731 571 63 ) ) PUNCT cblr-1731 571 64 . . PUNCT cblr-1731 572 1 140 140 NUM cblr-1731 572 2 see see VERB cblr-1731 572 3 supra supra PROPN cblr-1731 572 4 note note NOUN cblr-1731 572 5 6 6 NUM cblr-1731 572 6 and and CCONJ cblr-1731 572 7 accompanying accompany VERB cblr-1731 572 8 text text NOUN cblr-1731 572 9 . . PUNCT cblr-1731 573 1 141 141 NUM cblr-1731 573 2 see see VERB cblr-1731 573 3 lawrence lawrence PROPN cblr-1731 573 4 a. a. PROPN cblr-1731 573 5 cunningham cunningham PROPN cblr-1731 573 6 , , PUNCT cblr-1731 573 7 the the DET cblr-1731 573 8 appeal appeal NOUN cblr-1731 573 9 and and CCONJ cblr-1731 573 10 limits limit NOUN cblr-1731 573 11 of of ADP cblr-1731 573 12 internal internal ADJ cblr-1731 573 13 controls control NOUN cblr-1731 573 14 to to PART cblr-1731 573 15 fight fight VERB cblr-1731 573 16 fraud fraud NOUN cblr-1731 573 17 , , PUNCT cblr-1731 573 18 terrorism terrorism NOUN cblr-1731 573 19 , , PUNCT cblr-1731 573 20 other other ADJ cblr-1731 573 21 ills ill NOUN cblr-1731 573 22 , , PUNCT cblr-1731 573 23 29 29 NUM cblr-1731 573 24 j. j. PROPN cblr-1731 573 25 corp corp PROPN cblr-1731 573 26 . . PROPN cblr-1731 573 27 l. l. PROPN cblr-1731 573 28 267 267 NUM cblr-1731 573 29 , , PUNCT cblr-1731 573 30 268 268 NUM cblr-1731 573 31 ( ( PUNCT cblr-1731 573 32 2004 2004 NUM cblr-1731 573 33 ) ) PUNCT cblr-1731 573 34 . . PUNCT cblr-1731 574 1 142 142 NUM cblr-1731 574 2 see see VERB cblr-1731 574 3 generally generally ADV cblr-1731 574 4 michael michael PROPN cblr-1731 574 5 power power PROPN cblr-1731 574 6 , , PUNCT cblr-1731 574 7 the the DET cblr-1731 574 8 audit audit NOUN cblr-1731 574 9 society society NOUN cblr-1731 574 10 : : PUNCT cblr-1731 574 11 rituals ritual NOUN cblr-1731 574 12 of of ADP cblr-1731 574 13 verification verification NOUN cblr-1731 574 14 ( ( PUNCT cblr-1731 574 15 1999 1999 NUM cblr-1731 574 16 ) ) PUNCT cblr-1731 574 17 ( ( PUNCT cblr-1731 574 18 describing describe VERB cblr-1731 574 19 the the DET cblr-1731 574 20 complexity complexity NOUN cblr-1731 574 21 and and CCONJ cblr-1731 574 22 high high ADJ cblr-1731 574 23 cost cost NOUN cblr-1731 574 24 of of ADP cblr-1731 574 25 auditing auditing NOUN cblr-1731 574 26 regimes regime NOUN cblr-1731 574 27 ) ) PUNCT cblr-1731 574 28 . . PUNCT cblr-1731 575 1 cunningham cunningham PROPN cblr-1731 575 2 – – PUNCT cblr-1731 575 3 final final ADJ cblr-1731 575 4 48 48 NUM cblr-1731 575 5 columbia columbia PROPN cblr-1731 575 6 business business NOUN cblr-1731 575 7 law law PROPN cblr-1731 575 8 review review NOUN cblr-1731 575 9 [ [ X cblr-1731 575 10 vol vol NOUN cblr-1731 575 11 . . NOUN cblr-1731 575 12 2016 2016 NUM cblr-1731 575 13 results result NOUN cblr-1731 575 14 . . PUNCT cblr-1731 576 1 when when SCONJ cblr-1731 576 2 used use VERB cblr-1731 576 3 as as ADP cblr-1731 576 4 a a DET cblr-1731 576 5 leading lead VERB cblr-1731 576 6 policy policy NOUN cblr-1731 576 7 option option NOUN cblr-1731 576 8 , , PUNCT cblr-1731 576 9 however however ADV cblr-1731 576 10 , , PUNCT cblr-1731 576 11 controls control NOUN cblr-1731 576 12 assume assume VERB cblr-1731 576 13 a a DET cblr-1731 576 14 negative negative ADJ cblr-1731 576 15 character character NOUN cblr-1731 576 16 . . PUNCT cblr-1731 577 1 they they PRON cblr-1731 577 2 become become VERB cblr-1731 577 3 processes process NOUN cblr-1731 577 4 designed design VERB cblr-1731 577 5 to to PART cblr-1731 577 6 prevent prevent VERB cblr-1731 577 7 certain certain ADJ cblr-1731 577 8 undesired undesired ADJ cblr-1731 577 9 events event NOUN cblr-1731 577 10 from from ADP cblr-1731 577 11 occurring occur VERB cblr-1731 577 12 , , PUNCT cblr-1731 577 13 a a DET cblr-1731 577 14 conception conception NOUN cblr-1731 577 15 doomed doom VERB cblr-1731 577 16 to to ADP cblr-1731 577 17 disappointed disappointed ADJ cblr-1731 577 18 expectations expectation NOUN cblr-1731 577 19 . . PUNCT cblr-1731 578 1 controls control NOUN cblr-1731 578 2 are be AUX cblr-1731 578 3 inherently inherently ADV cblr-1731 578 4 limited limit VERB cblr-1731 578 5 in in ADP cblr-1731 578 6 what what PRON cblr-1731 578 7 they they PRON cblr-1731 578 8 can can AUX cblr-1731 578 9 do do AUX cblr-1731 578 10 , , PUNCT cblr-1731 578 11 making make VERB cblr-1731 578 12 the the DET cblr-1731 578 13 modest modest ADJ cblr-1731 578 14 expectations expectation NOUN cblr-1731 578 15 associated associate VERB cblr-1731 578 16 with with ADP cblr-1731 578 17 positive positive ADJ cblr-1731 578 18 aspirational aspirational ADJ cblr-1731 578 19 controls control NOUN cblr-1731 578 20 sensible sensible ADJ cblr-1731 578 21 but but CCONJ cblr-1731 578 22 increasing increase VERB cblr-1731 578 23 the the DET cblr-1731 578 24 likelihood likelihood NOUN cblr-1731 578 25 of of ADP cblr-1731 578 26 disappointed disappointed ADJ cblr-1731 578 27 expectations expectation NOUN cblr-1731 578 28 associated associate VERB cblr-1731 578 29 with with ADP cblr-1731 578 30 the the DET cblr-1731 578 31 more more ADV cblr-1731 578 32 ambitious ambitious ADJ cblr-1731 578 33 efforts effort NOUN cblr-1731 578 34 of of ADP cblr-1731 578 35 negative negative ADJ cblr-1731 578 36 preventive preventive ADJ cblr-1731 578 37 controls control NOUN cblr-1731 578 38 . . PUNCT cblr-1731 579 1 systemic systemic ADJ cblr-1731 579 2 forces force NOUN cblr-1731 579 3 make make VERB cblr-1731 579 4 controls control NOUN cblr-1731 579 5 an an DET cblr-1731 579 6 attractive attractive ADJ cblr-1731 579 7 policy policy NOUN cblr-1731 579 8 option option NOUN cblr-1731 579 9 . . PUNCT cblr-1731 580 1 the the DET cblr-1731 580 2 rise rise NOUN cblr-1731 580 3 of of ADP cblr-1731 580 4 the the DET cblr-1731 580 5 board board NOUN cblr-1731 580 6 monitoring monitoring NOUN cblr-1731 580 7 model model NOUN cblr-1731 580 8 played play VERB cblr-1731 580 9 an an DET cblr-1731 580 10 important important ADJ cblr-1731 580 11 role role NOUN cblr-1731 580 12 , , PUNCT cblr-1731 580 13 as as SCONJ cblr-1731 580 14 controls control NOUN cblr-1731 580 15 dovetailed dovetail VERB cblr-1731 580 16 with with ADP cblr-1731 580 17 such such ADJ cblr-1731 580 18 oversight.143 oversight.143 NOUN cblr-1731 580 19 movements movement NOUN cblr-1731 580 20 for for ADP cblr-1731 580 21 deregulation deregulation NOUN cblr-1731 580 22 and and CCONJ cblr-1731 580 23 cooperative cooperative ADJ cblr-1731 580 24 compliance compliance NOUN cblr-1731 580 25 made make VERB cblr-1731 580 26 controls control NOUN cblr-1731 580 27 appealing appeal VERB cblr-1731 580 28 as as ADP cblr-1731 580 29 alternatives alternative NOUN cblr-1731 580 30 to to ADP cblr-1731 580 31 direct direct ADJ cblr-1731 580 32 regulation regulation NOUN cblr-1731 580 33 . . PUNCT cblr-1731 581 1 resistance resistance NOUN cblr-1731 581 2 to to ADP cblr-1731 581 3 federal federal ADJ cblr-1731 581 4 preemption preemption NOUN cblr-1731 581 5 of of ADP cblr-1731 581 6 state state NOUN cblr-1731 581 7 law law NOUN cblr-1731 581 8 makes make VERB cblr-1731 581 9 controls control VERB cblr-1731 581 10 an an DET cblr-1731 581 11 attractive attractive ADJ cblr-1731 581 12 way way NOUN cblr-1731 581 13 to to PART cblr-1731 581 14 inject inject VERB cblr-1731 581 15 federal federal ADJ cblr-1731 581 16 policy policy NOUN cblr-1731 581 17 into into ADP cblr-1731 581 18 corporate corporate ADJ cblr-1731 581 19 affairs affair NOUN cblr-1731 581 20 . . PUNCT cblr-1731 582 1 the the DET cblr-1731 582 2 corporate corporate ADJ cblr-1731 582 3 social social ADJ cblr-1731 582 4 responsibility responsibility NOUN cblr-1731 582 5 movement movement NOUN cblr-1731 582 6 demands demand VERB cblr-1731 582 7 greater great ADJ cblr-1731 582 8 accountability accountability NOUN cblr-1731 582 9 ; ; PUNCT cblr-1731 582 10 controls control VERB cblr-1731 582 11 addressing address VERB cblr-1731 582 12 interests interest NOUN cblr-1731 582 13 of of ADP cblr-1731 582 14 particular particular ADJ cblr-1731 582 15 constituencies constituency NOUN cblr-1731 582 16 seem seem VERB cblr-1731 582 17 tailor tailor NOUN cblr-1731 582 18 - - PUNCT cblr-1731 582 19 made make VERB cblr-1731 582 20 for for ADP cblr-1731 582 21 the the DET cblr-1731 582 22 purpose purpose NOUN cblr-1731 582 23 . . PUNCT cblr-1731 583 1 an an DET cblr-1731 583 2 entire entire ADJ cblr-1731 583 3 compliance compliance NOUN cblr-1731 583 4 industry industry NOUN cblr-1731 583 5 arose arise VERB cblr-1731 583 6 , , PUNCT cblr-1731 583 7 led lead VERB cblr-1731 583 8 by by ADP cblr-1731 583 9 auditors auditor NOUN cblr-1731 583 10 and and CCONJ cblr-1731 583 11 lawyers lawyer NOUN cblr-1731 583 12 who who PRON cblr-1731 583 13 developed develop VERB cblr-1731 583 14 expertise expertise NOUN cblr-1731 583 15 in in ADP cblr-1731 583 16 the the DET cblr-1731 583 17 design design NOUN cblr-1731 583 18 , , PUNCT cblr-1731 583 19 implementation implementation NOUN cblr-1731 583 20 , , PUNCT cblr-1731 583 21 and and CCONJ cblr-1731 583 22 testing testing NOUN cblr-1731 583 23 of of ADP cblr-1731 583 24 controls control NOUN cblr-1731 583 25 . . PUNCT cblr-1731 584 1 yet yet CCONJ cblr-1731 584 2 these these DET cblr-1731 584 3 forces force NOUN cblr-1731 584 4 often often ADV cblr-1731 584 5 resulted result VERB cblr-1731 584 6 in in ADP cblr-1731 584 7 controls control NOUN cblr-1731 584 8 that that PRON cblr-1731 584 9 appear appear VERB cblr-1731 584 10 to to PART cblr-1731 584 11 work work VERB cblr-1731 584 12 and and CCONJ cblr-1731 584 13 can can AUX cblr-1731 584 14 be be AUX cblr-1731 584 15 audited audit VERB cblr-1731 584 16 rather rather ADV cblr-1731 584 17 than than ADP cblr-1731 584 18 controls control NOUN cblr-1731 584 19 that that PRON cblr-1731 584 20 work work VERB cblr-1731 584 21 in in ADP cblr-1731 584 22 fact.144 fact.144 PROPN cblr-1731 584 23 the the DET cblr-1731 584 24 result result NOUN cblr-1731 584 25 : : PUNCT cblr-1731 584 26 corporate corporate ADJ cblr-1731 584 27 america america PROPN cblr-1731 584 28 tends tend VERB cblr-1731 584 29 to to PART cblr-1731 584 30 expect expect VERB cblr-1731 584 31 far far ADV cblr-1731 584 32 more more ADJ cblr-1731 584 33 from from ADP cblr-1731 584 34 internal internal ADJ cblr-1731 584 35 controls control NOUN cblr-1731 584 36 than than SCONJ cblr-1731 584 37 such such ADJ cblr-1731 584 38 systems system NOUN cblr-1731 584 39 can can AUX cblr-1731 584 40 deliver deliver VERB cblr-1731 584 41 . . PUNCT cblr-1731 585 1 the the DET cblr-1731 585 2 berkshire berkshire PROPN cblr-1731 585 3 experience experience NOUN cblr-1731 585 4 , , PUNCT cblr-1731 585 5 using use VERB cblr-1731 585 6 minimalist minimalist ADJ cblr-1731 585 7 controls control NOUN cblr-1731 585 8 in in ADP cblr-1731 585 9 favor favor NOUN cblr-1731 585 10 of of ADP cblr-1731 585 11 heavy heavy ADJ cblr-1731 585 12 reliance reliance NOUN cblr-1731 585 13 on on ADP cblr-1731 585 14 trust trust NOUN cblr-1731 585 15 , , PUNCT cblr-1731 585 16 demonstrates demonstrate VERB cblr-1731 585 17 that that SCONJ cblr-1731 585 18 controls control NOUN cblr-1731 585 19 are be AUX cblr-1731 585 20 not not PART cblr-1731 585 21 necessary necessary ADJ cblr-1731 585 22 to to PART cblr-1731 585 23 promote promote VERB cblr-1731 585 24 compliance compliance NOUN cblr-1731 585 25 or or CCONJ cblr-1731 585 26 other other ADJ cblr-1731 585 27 desirable desirable ADJ cblr-1731 585 28 outcomes outcome NOUN cblr-1731 585 29 . . PUNCT cblr-1731 586 1 policymakers policymaker NOUN cblr-1731 586 2 should should AUX cblr-1731 586 3 be be AUX cblr-1731 586 4 willing willing ADJ cblr-1731 586 5 to to PART cblr-1731 586 6 tolerate tolerate VERB cblr-1731 586 7 more more ADJ cblr-1731 586 8 trust trust NOUN cblr-1731 586 9 - - PUNCT cblr-1731 586 10 based base VERB cblr-1731 586 11 corporate corporate ADJ cblr-1731 586 12 cultures culture NOUN cblr-1731 586 13 than than ADP cblr-1731 586 14 the the DET cblr-1731 586 15 prevailing prevail VERB cblr-1731 586 16 climate climate NOUN cblr-1731 586 17 favoring favor VERB cblr-1731 586 18 control control NOUN cblr-1731 586 19 permits permit NOUN cblr-1731 586 20 . . PUNCT cblr-1731 587 1 but but CCONJ cblr-1731 587 2 even even ADV cblr-1731 587 3 berkshire berkshire PROPN cblr-1731 587 4 maintains maintain VERB cblr-1731 587 5 a a DET cblr-1731 587 6 143 143 NUM cblr-1731 587 7 see see NOUN cblr-1731 587 8 melvin melvin PROPN cblr-1731 587 9 a. a. PROPN cblr-1731 587 10 eisenberg eisenberg PROPN cblr-1731 587 11 , , PUNCT cblr-1731 587 12 the the DET cblr-1731 587 13 board board NOUN cblr-1731 587 14 of of ADP cblr-1731 587 15 directors director NOUN cblr-1731 587 16 and and CCONJ cblr-1731 587 17 internal internal ADJ cblr-1731 587 18 control control NOUN cblr-1731 587 19 , , PUNCT cblr-1731 587 20 19 19 NUM cblr-1731 587 21 cardozo cardozo PROPN cblr-1731 587 22 l. l. PROPN cblr-1731 587 23 rev rev PROPN cblr-1731 587 24 . . PROPN cblr-1731 587 25 237 237 NUM cblr-1731 587 26 , , PUNCT cblr-1731 587 27 238–39 238–39 PROPN cblr-1731 587 28 ( ( PUNCT cblr-1731 587 29 1997 1997 NUM cblr-1731 587 30 ) ) PUNCT cblr-1731 587 31 . . PUNCT cblr-1731 588 1 144 144 NUM cblr-1731 588 2 see see VERB cblr-1731 588 3 kimberly kimberly PROPN cblr-1731 588 4 d. d. PROPN cblr-1731 588 5 krawiec krawiec PROPN cblr-1731 588 6 , , PUNCT cblr-1731 588 7 cosmetic cosmetic ADJ cblr-1731 588 8 compliance compliance NOUN cblr-1731 588 9 and and CCONJ cblr-1731 588 10 the the DET cblr-1731 588 11 failure failure NOUN cblr-1731 588 12 of of ADP cblr-1731 588 13 negotiated negotiate VERB cblr-1731 588 14 governance governance NOUN cblr-1731 588 15 , , PUNCT cblr-1731 588 16 81 81 NUM cblr-1731 588 17 wash wash NOUN cblr-1731 588 18 . . PUNCT cblr-1731 589 1 u. u. PROPN cblr-1731 589 2 l.q l.q PROPN cblr-1731 589 3 . . PROPN cblr-1731 590 1 487 487 NUM cblr-1731 590 2 ( ( PUNCT cblr-1731 590 3 2003 2003 NUM cblr-1731 590 4 ) ) PUNCT cblr-1731 590 5 . . PUNCT cblr-1731 591 1 cunningham cunningham PROPN cblr-1731 591 2 – – PUNCT cblr-1731 591 3 final final ADJ cblr-1731 591 4 no no NOUN cblr-1731 591 5 . . NOUN cblr-1731 591 6 1:1 1:1 NUM cblr-1731 591 7 ] ] PUNCT cblr-1731 591 8 berkshire berkshire PROPN cblr-1731 591 9 ’s ’s PART cblr-1731 591 10 blemishes blemish NOUN cblr-1731 591 11 49 49 NUM cblr-1731 591 12 system system NOUN cblr-1731 591 13 of of ADP cblr-1731 591 14 internal internal ADJ cblr-1731 591 15 control control NOUN cblr-1731 591 16 over over ADP cblr-1731 591 17 financial financial ADJ cblr-1731 591 18 reporting reporting NOUN cblr-1731 591 19 because because SCONJ cblr-1731 591 20 , , PUNCT cblr-1731 591 21 as as SCONJ cblr-1731 591 22 buffett buffett PROPN cblr-1731 591 23 joked joke VERB cblr-1731 591 24 , , PUNCT cblr-1731 591 25 “ " PUNCT cblr-1731 591 26 no no DET cblr-1731 591 27 sense sense NOUN cblr-1731 591 28 being be AUX cblr-1731 591 29 a a DET cblr-1731 591 30 damned damned ADJ cblr-1731 591 31 fool fool NOUN cblr-1731 591 32 . . PUNCT cblr-1731 591 33 ”145 ”145 PUNCT cblr-1731 592 1 still still ADV cblr-1731 592 2 , , PUNCT cblr-1731 592 3 the the DET cblr-1731 592 4 overwhelming overwhelming ADJ cblr-1731 592 5 principles principle NOUN cblr-1731 592 6 of of ADP cblr-1731 592 7 corporate corporate ADJ cblr-1731 592 8 governance governance NOUN cblr-1731 592 9 and and CCONJ cblr-1731 592 10 culture culture NOUN cblr-1731 592 11 at at ADP cblr-1731 592 12 berkshire berkshire PROPN cblr-1731 592 13 hathaway hathaway PROPN cblr-1731 592 14 are be AUX cblr-1731 592 15 responsibility responsibility NOUN cblr-1731 592 16 and and CCONJ cblr-1731 592 17 trust trust NOUN cblr-1731 592 18 . . PUNCT cblr-1731 593 1 such such DET cblr-1731 593 2 a a DET cblr-1731 593 3 model model NOUN cblr-1731 593 4 stands stand VERB cblr-1731 593 5 in in ADP cblr-1731 593 6 sharp sharp ADJ cblr-1731 593 7 contrast contrast NOUN cblr-1731 593 8 to to ADP cblr-1731 593 9 prevailing prevail VERB cblr-1731 593 10 views view NOUN cblr-1731 593 11 among among ADP cblr-1731 593 12 theorists theorist NOUN cblr-1731 593 13 and and CCONJ cblr-1731 593 14 norms norm NOUN cblr-1731 593 15 among among ADP cblr-1731 593 16 practitioners.146 practitioners.146 NOUN cblr-1731 593 17 the the DET cblr-1731 593 18 theorists theorist NOUN cblr-1731 593 19 assume assume VERB cblr-1731 593 20 pervasive pervasive ADJ cblr-1731 593 21 agency agency NOUN cblr-1731 593 22 costs cost NOUN cblr-1731 593 23 — — PUNCT cblr-1731 593 24 managers manager NOUN cblr-1731 593 25 acting act VERB cblr-1731 593 26 with with ADP cblr-1731 593 27 self self NOUN cblr-1731 593 28 - - PUNCT cblr-1731 593 29 interest interest NOUN cblr-1731 593 30 in in ADP cblr-1731 593 31 derogation derogation NOUN cblr-1731 593 32 of of ADP cblr-1731 593 33 owner owner NOUN cblr-1731 593 34 interests interest NOUN cblr-1731 593 35 — — PUNCT cblr-1731 593 36 and and CCONJ cblr-1731 593 37 many many ADJ cblr-1731 593 38 managers manager NOUN cblr-1731 593 39 do do AUX cblr-1731 593 40 in in ADP cblr-1731 593 41 fact fact NOUN cblr-1731 593 42 exhibit exhibit VERB cblr-1731 593 43 such such ADJ cblr-1731 593 44 behavior.147 behavior.147 NOUN cblr-1731 593 45 yet yet ADV cblr-1731 593 46 not not PART cblr-1731 593 47 all all PRON cblr-1731 593 48 do do VERB cblr-1731 593 49 , , PUNCT cblr-1731 593 50 and and CCONJ cblr-1731 593 51 berkshire berkshire NOUN cblr-1731 593 52 has have VERB cblr-1731 593 53 a a DET cblr-1731 593 54 whole whole ADJ cblr-1731 593 55 cadre cadre NOUN cblr-1731 593 56 of of ADP cblr-1731 593 57 managers manager NOUN cblr-1731 593 58 operating operate VERB cblr-1731 593 59 in in ADP cblr-1731 593 60 the the DET cblr-1731 593 61 opposite opposite ADJ cblr-1731 593 62 manner manner NOUN cblr-1731 593 63 . . 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PUNCT cblr-1731 597 1 145 145 NUM cblr-1731 597 2 letter letter NOUN cblr-1731 597 3 from from ADP cblr-1731 597 4 warren warren PROPN cblr-1731 597 5 e. e. PROPN cblr-1731 597 6 buffett buffett PROPN cblr-1731 597 7 , , PUNCT cblr-1731 597 8 chairman chairman NOUN cblr-1731 597 9 , , PUNCT cblr-1731 597 10 berkshire berkshire PROPN cblr-1731 597 11 hathaway hathaway PROPN cblr-1731 597 12 , , PUNCT cblr-1731 597 13 inc inc PROPN cblr-1731 597 14 . . PROPN cblr-1731 597 15 , , PUNCT cblr-1731 597 16 to to ADP cblr-1731 597 17 shareholders shareholder NOUN cblr-1731 597 18 of of ADP cblr-1731 597 19 berkshire berkshire PROPN cblr-1731 597 20 hathaway hathaway PROPN cblr-1731 597 21 , , PUNCT cblr-1731 597 22 inc inc PROPN cblr-1731 597 23 . . PROPN cblr-1731 597 24 ( ( PUNCT cblr-1731 597 25 feb feb PROPN cblr-1731 597 26 . . 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PUNCT cblr-1731 602 1 closer close ADJ cblr-1731 602 2 look look NOUN cblr-1731 602 3 series series NOUN cblr-1731 602 4 , , PUNCT cblr-1731 602 5 may may AUX cblr-1731 602 6 28 28 NUM cblr-1731 602 7 , , PUNCT cblr-1731 602 8 2010 2010 NUM cblr-1731 602 9 ) ) PUNCT cblr-1731 602 10 , , PUNCT cblr-1731 602 11 https://www.gsb.stanford.edu/sites/gsb/files/publicationpdf/cgri-closer-look-02-berkshire-hathaway.pdf https://www.gsb.stanford.edu/sites/gsb/files/publicationpdf/cgri-closer-look-02-berkshire-hathaway.pdf NOUN cblr-1731 603 1 [ [ X cblr-1731 603 2 https://perma.cc/sp26auqr https://perma.cc/sp26auqr NOUN cblr-1731 603 3 ] ] PUNCT cblr-1731 603 4 . . 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NOUN cblr-1731 604 12 2016 2016 NUM cblr-1731 604 13 in in ADP cblr-1731 604 14 the the DET cblr-1731 604 15 1960s 1960 NOUN cblr-1731 604 16 and and CCONJ cblr-1731 604 17 1970s 1970 NOUN cblr-1731 604 18 , , PUNCT cblr-1731 604 19 the the DET cblr-1731 604 20 conglomerate conglomerate NOUN cblr-1731 604 21 form form NOUN cblr-1731 604 22 of of ADP cblr-1731 604 23 business business NOUN cblr-1731 604 24 organization organization NOUN cblr-1731 604 25 flourished flourish VERB cblr-1731 604 26 in in ADP cblr-1731 604 27 corporate corporate PROPN cblr-1731 604 28 america america PROPN cblr-1731 604 29 , , PUNCT cblr-1731 604 30 in in ADP cblr-1731 604 31 part part NOUN cblr-1731 604 32 due due ADP cblr-1731 604 33 to to ADP cblr-1731 604 34 enactment enactment NOUN cblr-1731 604 35 in in ADP cblr-1731 604 36 1950 1950 NUM cblr-1731 604 37 of of ADP cblr-1731 604 38 the the DET cblr-1731 604 39 celler celler NOUN cblr-1731 604 40 - - PUNCT cblr-1731 604 41 kefauver kefauver NOUN cblr-1731 604 42 act act NOUN cblr-1731 604 43 , , PUNCT cblr-1731 604 44 which which PRON cblr-1731 604 45 discouraged discourage VERB cblr-1731 604 46 mergers merger NOUN cblr-1731 604 47 among among ADP cblr-1731 604 48 rivals rival NOUN cblr-1731 604 49 , , PUNCT cblr-1731 604 50 stimulating stimulate VERB cblr-1731 604 51 acquisitions acquisition NOUN cblr-1731 604 52 of of ADP cblr-1731 604 53 unrelated unrelated ADJ cblr-1731 604 54 businesses.149 businesses.149 NOUN cblr-1731 604 55 massive massive ADJ cblr-1731 604 56 companies company NOUN cblr-1731 604 57 were be AUX cblr-1731 604 58 built build VERB cblr-1731 604 59 through through ADP cblr-1731 604 60 numerous numerous ADJ cblr-1731 604 61 diverse diverse ADJ cblr-1731 604 62 acquisitions acquisition NOUN cblr-1731 604 63 by by ADP cblr-1731 604 64 powerful powerful ADJ cblr-1731 604 65 chief chief ADJ cblr-1731 604 66 executives executive NOUN cblr-1731 604 67 . . PUNCT cblr-1731 605 1 one one NUM cblr-1731 605 2 prominent prominent ADJ cblr-1731 605 3 example example NOUN cblr-1731 605 4 is be AUX cblr-1731 605 5 itt itt INTJ cblr-1731 605 6 corporation corporation NOUN cblr-1731 605 7 which which PRON cblr-1731 605 8 , , PUNCT cblr-1731 605 9 under under ADP cblr-1731 605 10 the the DET cblr-1731 605 11 leadership leadership NOUN cblr-1731 605 12 of of ADP cblr-1731 605 13 harold harold PROPN cblr-1731 605 14 geneen geneen PROPN cblr-1731 605 15 and and CCONJ cblr-1731 605 16 later later ADV cblr-1731 605 17 rand rand PROPN cblr-1731 605 18 araskog araskog VERB cblr-1731 605 19 , , PUNCT cblr-1731 605 20 boasted boast VERB cblr-1731 605 21 350 350 NUM cblr-1731 605 22 different different ADJ cblr-1731 605 23 companies company NOUN cblr-1731 605 24 , , PUNCT cblr-1731 605 25 including include VERB cblr-1731 605 26 baking baking NOUN cblr-1731 605 27 , , PUNCT cblr-1731 605 28 car car NOUN cblr-1731 605 29 rentals rental NOUN cblr-1731 605 30 , , PUNCT cblr-1731 605 31 hotels hotel NOUN cblr-1731 605 32 , , PUNCT cblr-1731 605 33 and and CCONJ cblr-1731 605 34 insurance.150 insurance.150 NOUN cblr-1731 605 35 another another DET cblr-1731 605 36 example example NOUN cblr-1731 605 37 is be AUX cblr-1731 605 38 teledyne teledyne NOUN cblr-1731 605 39 technologies technology NOUN cblr-1731 605 40 , , PUNCT cblr-1731 605 41 inc inc PROPN cblr-1731 605 42 . . PROPN cblr-1731 605 43 , , PUNCT cblr-1731 605 44 assembled assemble VERB cblr-1731 605 45 by by ADP cblr-1731 605 46 henry henry PROPN cblr-1731 605 47 singleton singleton PROPN cblr-1731 605 48 as as ADP cblr-1731 605 49 nearly nearly ADV cblr-1731 605 50 100 100 NUM cblr-1731 605 51 different different ADJ cblr-1731 605 52 businesses business NOUN cblr-1731 605 53 encompassing encompass VERB cblr-1731 605 54 acoustic acoustic ADJ cblr-1731 605 55 speakers speaker NOUN cblr-1731 605 56 , , PUNCT cblr-1731 605 57 aeronautics aeronautic NOUN cblr-1731 605 58 , , PUNCT cblr-1731 605 59 banking banking NOUN cblr-1731 605 60 , , PUNCT cblr-1731 605 61 computers computer NOUN cblr-1731 605 62 , , PUNCT cblr-1731 605 63 engines engine NOUN cblr-1731 605 64 , , PUNCT cblr-1731 605 65 and and CCONJ cblr-1731 605 66 insurance.151 insurance.151 NOUN cblr-1731 605 67 by by ADP cblr-1731 605 68 1980 1980 NUM cblr-1731 605 69 , , PUNCT cblr-1731 605 70 the the DET cblr-1731 605 71 majority majority NOUN cblr-1731 605 72 of of ADP cblr-1731 605 73 fortune fortune NOUN cblr-1731 605 74 500 500 NUM cblr-1731 605 75 companies company NOUN cblr-1731 605 76 were be AUX cblr-1731 605 77 conglomerates.152 conglomerates.152 NOUN cblr-1731 605 78 rationales rationale NOUN cblr-1731 605 79 included include VERB cblr-1731 605 80 exploiting exploit VERB cblr-1731 605 81 scale scale NOUN cblr-1731 605 82 , , PUNCT cblr-1731 605 83 seizing seize VERB cblr-1731 605 84 synergies synergy NOUN cblr-1731 605 85 , , PUNCT cblr-1731 605 86 spreading spread VERB cblr-1731 605 87 managerial managerial ADJ cblr-1731 605 88 acumen acuman NOUN cblr-1731 605 89 , , PUNCT cblr-1731 605 90 and and CCONJ cblr-1731 605 91 diversifying diversify VERB cblr-1731 605 92 investments investment NOUN cblr-1731 605 93 . . PUNCT cblr-1731 606 1 but but CCONJ cblr-1731 606 2 critics critic NOUN cblr-1731 606 3 perceived perceive VERB cblr-1731 606 4 indulgent indulgent ADJ cblr-1731 606 5 empire empire NOUN cblr-1731 606 6 building building NOUN cblr-1731 606 7 by by ADP cblr-1731 606 8 imperious imperious ADJ cblr-1731 606 9 executives executive NOUN cblr-1731 606 10 as as SCONJ cblr-1731 606 11 many many ADJ cblr-1731 606 12 of of ADP cblr-1731 606 13 these these DET cblr-1731 606 14 businesses business NOUN cblr-1731 606 15 struggled struggle VERB cblr-1731 606 16 , , PUNCT cblr-1731 606 17 incurred incur VERB cblr-1731 606 18 significant significant ADJ cblr-1731 606 19 losses loss NOUN cblr-1731 606 20 for for ADP cblr-1731 606 21 sustained sustained ADJ cblr-1731 606 22 periods period NOUN cblr-1731 606 23 , , PUNCT cblr-1731 606 24 misallocated misallocated ADJ cblr-1731 606 25 capital capital NOUN cblr-1731 606 26 internally internally ADV cblr-1731 606 27 , , PUNCT cblr-1731 606 28 or or CCONJ cblr-1731 606 29 otherwise otherwise ADV cblr-1731 606 30 proved prove VERB cblr-1731 606 31 difficult difficult ADJ cblr-1731 606 32 to to PART cblr-1731 606 33 manage.153 manage.153 VERB cblr-1731 606 34 under under ADP cblr-1731 606 35 pressure pressure NOUN cblr-1731 606 36 from from ADP cblr-1731 606 37 hostile hostile ADJ cblr-1731 606 38 corporate corporate ADJ cblr-1731 606 39 149 149 NUM cblr-1731 606 40 see see VERB cblr-1731 606 41 sanjai sanjai PROPN cblr-1731 606 42 bhagat bhagat PROPN cblr-1731 606 43 , , PUNCT cblr-1731 606 44 andrei andrei PROPN cblr-1731 606 45 shleifer shleifer PROPN cblr-1731 606 46 & & CCONJ cblr-1731 606 47 robert robert PROPN cblr-1731 606 48 w. w. PROPN cblr-1731 606 49 vishny vishny PROPN cblr-1731 606 50 , , PUNCT cblr-1731 606 51 hostile hostile ADJ cblr-1731 606 52 takeovers takeover NOUN cblr-1731 606 53 in in ADP cblr-1731 606 54 the the DET cblr-1731 606 55 1980s 1980 NOUN cblr-1731 606 56 : : PUNCT cblr-1731 606 57 the the DET cblr-1731 606 58 return return NOUN cblr-1731 606 59 to to ADP cblr-1731 606 60 corporate corporate ADJ cblr-1731 606 61 specialization specialization NOUN cblr-1731 606 62 , , PUNCT cblr-1731 606 63 brookings brookings PROPN cblr-1731 606 64 papers paper NOUN cblr-1731 606 65 on on ADP cblr-1731 606 66 econ econ PROPN cblr-1731 606 67 . . 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PROPN cblr-1731 609 17 2000 2000 NUM cblr-1731 609 18 ) ) PUNCT cblr-1731 609 19 ( ( PUNCT cblr-1731 609 20 documenting document VERB cblr-1731 609 21 the the DET cblr-1731 609 22 multiple multiple ADJ cblr-1731 609 23 companies company NOUN cblr-1731 609 24 that that PRON cblr-1731 609 25 itt itt INTJ cblr-1731 609 26 invested invest VERB cblr-1731 609 27 in in ADP cblr-1731 609 28 at at ADP cblr-1731 609 29 various various ADJ cblr-1731 609 30 points point NOUN cblr-1731 609 31 ) ) PUNCT cblr-1731 609 32 . . PUNCT cblr-1731 610 1 151 151 NUM cblr-1731 610 2 see see VERB cblr-1731 610 3 generally generally ADV cblr-1731 610 4 george george PROPN cblr-1731 610 5 a. a. PROPN cblr-1731 610 6 roberts roberts PROPN cblr-1731 610 7 with with ADP cblr-1731 610 8 robert robert PROPN cblr-1731 610 9 j. j. PROPN cblr-1731 610 10 mcvicker mcvicker PROPN cblr-1731 610 11 , , PUNCT cblr-1731 610 12 distant distant ADJ cblr-1731 610 13 force force NOUN cblr-1731 610 14 : : PUNCT cblr-1731 610 15 a a DET cblr-1731 610 16 memoir memoir NOUN cblr-1731 610 17 of of ADP cblr-1731 610 18 the the DET cblr-1731 610 19 teledyne teledyne NOUN cblr-1731 610 20 corporation corporation NOUN cblr-1731 610 21 and and CCONJ cblr-1731 610 22 the the DET cblr-1731 610 23 man man NOUN cblr-1731 610 24 who who PRON cblr-1731 610 25 created create VERB cblr-1731 610 26 it it PRON cblr-1731 610 27 ( ( PUNCT cblr-1731 610 28 2007 2007 NUM cblr-1731 610 29 ) ) PUNCT cblr-1731 610 30 ( ( PUNCT cblr-1731 610 31 documenting document VERB cblr-1731 610 32 the the DET cblr-1731 610 33 multiple multiple ADJ cblr-1731 610 34 companies company NOUN cblr-1731 610 35 that that PRON cblr-1731 610 36 teledyne teledyne NOUN cblr-1731 610 37 invested invest VERB cblr-1731 610 38 in in ADP cblr-1731 610 39 ) ) PUNCT cblr-1731 610 40 . . PUNCT cblr-1731 611 1 152 152 NUM cblr-1731 611 2 gerald gerald PROPN cblr-1731 611 3 f. f. PROPN cblr-1731 611 4 davis davis PROPN cblr-1731 611 5 et et PROPN cblr-1731 611 6 al al PROPN cblr-1731 611 7 . . PROPN cblr-1731 611 8 , , PUNCT cblr-1731 611 9 the the DET cblr-1731 611 10 decline decline NOUN cblr-1731 611 11 and and CCONJ cblr-1731 611 12 fall fall NOUN cblr-1731 611 13 of of ADP cblr-1731 611 14 the the DET cblr-1731 611 15 conglomerate conglomerate NOUN cblr-1731 611 16 firm firm NOUN cblr-1731 611 17 in in ADP cblr-1731 611 18 the the DET cblr-1731 611 19 1980s 1980 NOUN cblr-1731 611 20 : : PUNCT cblr-1731 611 21 the the DET cblr-1731 611 22 deinstitutionalization deinstitutionalization NOUN cblr-1731 611 23 of of ADP cblr-1731 611 24 an an DET cblr-1731 611 25 organizational organizational ADJ cblr-1731 611 26 form form NOUN cblr-1731 611 27 , , PUNCT cblr-1731 611 28 59 59 NUM cblr-1731 611 29 am am NOUN cblr-1731 611 30 . . PUNCT cblr-1731 612 1 soc soc PROPN cblr-1731 612 2 . . PUNCT cblr-1731 613 1 rev rev PROPN cblr-1731 613 2 . . PROPN cblr-1731 613 3 547 547 NUM cblr-1731 613 4 , , PUNCT cblr-1731 613 5 553 553 NUM cblr-1731 613 6 ( ( PUNCT cblr-1731 613 7 1995 1995 NUM cblr-1731 613 8 ) ) PUNCT cblr-1731 613 9 . . PUNCT cblr-1731 614 1 153 153 NUM cblr-1731 614 2 the the DET cblr-1731 614 3 essays essay NOUN cblr-1731 614 4 of of ADP cblr-1731 614 5 warren warren PROPN cblr-1731 614 6 buffett buffett PROPN cblr-1731 614 7 , , PUNCT cblr-1731 614 8 supra supra PROPN cblr-1731 614 9 note note PROPN cblr-1731 614 10 15 15 NUM cblr-1731 614 11 , , PUNCT cblr-1731 614 12 at at ADP cblr-1731 614 13 287 287 NUM cblr-1731 614 14 ( ( PUNCT cblr-1731 614 15 discussing discuss VERB cblr-1731 614 16 buffett buffett PROPN cblr-1731 614 17 ’s ’s PART cblr-1731 614 18 account account NOUN cblr-1731 614 19 of of ADP cblr-1731 614 20 the the DET cblr-1731 614 21 poor poor ADJ cblr-1731 614 22 reputation reputation NOUN cblr-1731 614 23 of of ADP cblr-1731 614 24 the the DET cblr-1731 614 25 conglomerate conglomerate NOUN cblr-1731 614 26 business business NOUN cblr-1731 614 27 model model NOUN cblr-1731 614 28 and and CCONJ cblr-1731 614 29 how how SCONJ cblr-1731 614 30 the the DET cblr-1731 614 31 berkshire berkshire PROPN cblr-1731 614 32 model model NOUN cblr-1731 614 33 differs differ VERB cblr-1731 614 34 ) ) PUNCT cblr-1731 614 35 . . PUNCT cblr-1731 615 1 cunningham cunningham PROPN cblr-1731 615 2 – – PUNCT cblr-1731 615 3 final final ADJ cblr-1731 615 4 no no NOUN cblr-1731 615 5 . . NOUN cblr-1731 615 6 1:1 1:1 NUM cblr-1731 615 7 ] ] PUNCT cblr-1731 615 8 berkshire berkshire NOUN cblr-1731 615 9 ’s ’s PART cblr-1731 615 10 blemishes blemish NOUN cblr-1731 615 11 51 51 NUM cblr-1731 615 12 takeover takeover NOUN cblr-1731 615 13 artists artist NOUN cblr-1731 615 14 seeking seek VERB cblr-1731 615 15 to to PART cblr-1731 615 16 maximize maximize VERB cblr-1731 615 17 shareholder shareholder NOUN cblr-1731 615 18 value value NOUN cblr-1731 615 19 as as ADV cblr-1731 615 20 well well ADV cblr-1731 615 21 as as ADP cblr-1731 615 22 academics academic NOUN cblr-1731 615 23 urging urge VERB cblr-1731 615 24 greater great ADJ cblr-1731 615 25 focus focus NOUN cblr-1731 615 26 , , PUNCT cblr-1731 615 27 the the DET cblr-1731 615 28 conglomerate conglomerate NOUN cblr-1731 615 29 model model NOUN cblr-1731 615 30 began begin VERB cblr-1731 615 31 to to PART cblr-1731 615 32 unravel unravel VERB cblr-1731 615 33 . . PUNCT cblr-1731 616 1 raiders raider NOUN cblr-1731 616 2 such such ADJ cblr-1731 616 3 as as ADP cblr-1731 616 4 carl carl PROPN cblr-1731 616 5 icahn icahn PROPN cblr-1731 616 6 and and CCONJ cblr-1731 616 7 ronald ronald PROPN cblr-1731 616 8 perelman perelman PROPN cblr-1731 616 9 and and CCONJ cblr-1731 616 10 buyout buyout NOUN cblr-1731 616 11 firms firm NOUN cblr-1731 616 12 such such ADJ cblr-1731 616 13 as as ADP cblr-1731 616 14 kohlberg kohlberg PROPN cblr-1731 616 15 kravis kravis PROPN cblr-1731 616 16 roberts roberts PROPN cblr-1731 616 17 targeted target VERB cblr-1731 616 18 or or CCONJ cblr-1731 616 19 acquired acquire VERB cblr-1731 616 20 conglomerates conglomerate NOUN cblr-1731 616 21 and and CCONJ cblr-1731 616 22 proceeded proceed VERB cblr-1731 616 23 to to PART cblr-1731 616 24 break break VERB cblr-1731 616 25 them they PRON cblr-1731 616 26 up up ADP cblr-1731 616 27 while while SCONJ cblr-1731 616 28 others other NOUN cblr-1731 616 29 , , PUNCT cblr-1731 616 30 like like ADP cblr-1731 616 31 itt itt INTJ cblr-1731 616 32 and and CCONJ cblr-1731 616 33 teledyne teledyne PROPN cblr-1731 616 34 , , PUNCT cblr-1731 616 35 simply simply ADV cblr-1731 616 36 succumbed succumb VERB cblr-1731 616 37 to to ADP cblr-1731 616 38 the the DET cblr-1731 616 39 changing change VERB cblr-1731 616 40 times time NOUN cblr-1731 616 41 and and CCONJ cblr-1731 616 42 divided divide VERB cblr-1731 616 43 into into ADP cblr-1731 616 44 multiple multiple ADJ cblr-1731 616 45 discrete discrete ADJ cblr-1731 616 46 corporations.154 corporations.154 NOUN cblr-1731 616 47 by by ADP cblr-1731 616 48 1990 1990 NUM cblr-1731 616 49 , , PUNCT cblr-1731 616 50 the the DET cblr-1731 616 51 era era NOUN cblr-1731 616 52 of of ADP cblr-1731 616 53 the the DET cblr-1731 616 54 conglomerates conglomerate NOUN cblr-1731 616 55 was be AUX cblr-1731 616 56 over over ADV cblr-1731 616 57 , , PUNCT cblr-1731 616 58 and and CCONJ cblr-1731 616 59 widely widely ADV cblr-1731 616 60 viewed view VERB cblr-1731 616 61 as as ADP cblr-1731 616 62 a a DET cblr-1731 616 63 systemic systemic ADJ cblr-1731 616 64 mistake mistake NOUN cblr-1731 616 65 . . PUNCT cblr-1731 617 1 top top ADJ cblr-1731 617 2 executives executive NOUN cblr-1731 617 3 prone prone ADJ cblr-1731 617 4 to to ADP cblr-1731 617 5 conglomerate conglomerate NOUN cblr-1731 617 6 - - PUNCT cblr-1731 617 7 wide wide ADJ cblr-1731 617 8 systems system NOUN cblr-1731 617 9 and and CCONJ cblr-1731 617 10 micromanagement micromanagement NOUN cblr-1731 617 11 ultimately ultimately ADV cblr-1731 617 12 undermined undermine VERB cblr-1731 617 13 operational operational ADJ cblr-1731 617 14 success success NOUN cblr-1731 617 15 . . PUNCT cblr-1731 618 1 subsidiary subsidiary NOUN cblr-1731 618 2 managers manager NOUN cblr-1731 618 3 could could AUX cblr-1731 618 4 execute execute VERB cblr-1731 618 5 more more ADV cblr-1731 618 6 effectively effectively ADV cblr-1731 618 7 when when SCONJ cblr-1731 618 8 permitted permit VERB cblr-1731 618 9 to to PART cblr-1731 618 10 apply apply VERB cblr-1731 618 11 systems system NOUN cblr-1731 618 12 tailored tailor VERB cblr-1731 618 13 to to ADP cblr-1731 618 14 the the DET cblr-1731 618 15 needs need NOUN cblr-1731 618 16 of of ADP cblr-1731 618 17 their their PRON cblr-1731 618 18 business business NOUN cblr-1731 618 19 and and CCONJ cblr-1731 618 20 focused focus VERB cblr-1731 618 21 on on ADP cblr-1731 618 22 areas area NOUN cblr-1731 618 23 within within ADP cblr-1731 618 24 their their PRON cblr-1731 618 25 unique unique ADJ cblr-1731 618 26 expertise expertise NOUN cblr-1731 618 27 . . PUNCT cblr-1731 619 1 boards board NOUN cblr-1731 619 2 of of ADP cblr-1731 619 3 directors director NOUN cblr-1731 619 4 , , PUNCT cblr-1731 619 5 increasingly increasingly ADV cblr-1731 619 6 called call VERB cblr-1731 619 7 upon upon SCONJ cblr-1731 619 8 as as ADP cblr-1731 619 9 active active ADJ cblr-1731 619 10 monitors monitor NOUN cblr-1731 619 11 of of ADP cblr-1731 619 12 managers manager NOUN cblr-1731 619 13 rather rather ADV cblr-1731 619 14 than than ADP cblr-1731 619 15 loyal loyal ADJ cblr-1731 619 16 advisors advisor NOUN cblr-1731 619 17 , , PUNCT cblr-1731 619 18 could could AUX cblr-1731 619 19 not not PART cblr-1731 619 20 oversee oversee VERB cblr-1731 619 21 sprawling sprawl VERB cblr-1731 619 22 empires empire NOUN cblr-1731 619 23 . . PUNCT cblr-1731 620 1 shareholders shareholder NOUN cblr-1731 620 2 could could AUX cblr-1731 620 3 diversify diversify VERB cblr-1731 620 4 for for ADP cblr-1731 620 5 themselves themselves PRON cblr-1731 620 6 more more ADV cblr-1731 620 7 efficiently efficiently ADV cblr-1731 620 8 than than ADP cblr-1731 620 9 conglomerate conglomerate NOUN cblr-1731 620 10 executives executive NOUN cblr-1731 620 11 who who PRON cblr-1731 620 12 proved prove VERB cblr-1731 620 13 inept inept ADJ cblr-1731 620 14 at at ADP cblr-1731 620 15 allocating allocate VERB cblr-1731 620 16 capital capital NOUN cblr-1731 620 17 . . PUNCT cblr-1731 621 1 and and CCONJ cblr-1731 621 2 u.s u.s PROPN cblr-1731 621 3 . . PROPN cblr-1731 621 4 antitrust antitrust ADJ cblr-1731 621 5 policy policy NOUN cblr-1731 621 6 had have AUX cblr-1731 621 7 swung swing VERB cblr-1731 621 8 back back ADV cblr-1731 621 9 in in ADP cblr-1731 621 10 the the DET cblr-1731 621 11 direction direction NOUN cblr-1731 621 12 of of ADP cblr-1731 621 13 solicitude solicitude NOUN cblr-1731 621 14 toward toward ADP cblr-1731 621 15 mergers merger NOUN cblr-1731 621 16 among among ADP cblr-1731 621 17 rivals.155 rivals.155 PROPN cblr-1731 621 18 during during ADP cblr-1731 621 19 this this DET cblr-1731 621 20 same same ADJ cblr-1731 621 21 period period NOUN cblr-1731 621 22 , , PUNCT cblr-1731 621 23 however however ADV cblr-1731 621 24 , , PUNCT cblr-1731 621 25 berkshire berkshire PROPN cblr-1731 621 26 transformed transform VERB cblr-1731 621 27 itself itself PRON cblr-1731 621 28 from from ADP cblr-1731 621 29 a a DET cblr-1731 621 30 small small ADJ cblr-1731 621 31 investment investment NOUN cblr-1731 621 32 partnership partnership NOUN cblr-1731 621 33 in in ADP cblr-1731 621 34 the the DET cblr-1731 621 35 1960s 1960 NOUN cblr-1731 621 36 into into ADP cblr-1731 621 37 a a DET cblr-1731 621 38 diversified diversified ADJ cblr-1731 621 39 conglomerate conglomerate NOUN cblr-1731 621 40 with with ADP cblr-1731 621 41 vast vast ADJ cblr-1731 621 42 stock stock NOUN cblr-1731 621 43 holdings holding NOUN cblr-1731 621 44 by by ADP cblr-1731 621 45 1995 1995 NUM cblr-1731 621 46 . . PUNCT cblr-1731 622 1 today today NOUN cblr-1731 622 2 , , PUNCT cblr-1731 622 3 it it PRON cblr-1731 622 4 is be AUX cblr-1731 622 5 a a DET cblr-1731 622 6 conglomerate conglomerate NOUN cblr-1731 622 7 more more ADV cblr-1731 622 8 sprawling sprawling ADJ cblr-1731 622 9 than than ADP cblr-1731 622 10 itt itt ADJ cblr-1731 622 11 , , PUNCT cblr-1731 622 12 teledyne teledyne NOUN cblr-1731 622 13 , , PUNCT cblr-1731 622 14 or or CCONJ cblr-1731 622 15 any any PRON cblr-1731 622 16 of of ADP cblr-1731 622 17 the the DET cblr-1731 622 18 other other ADJ cblr-1731 622 19 colossuses colossus NOUN cblr-1731 622 20 of of ADP cblr-1731 622 21 the the DET cblr-1731 622 22 1980s 1980 NOUN cblr-1731 622 23 , , PUNCT cblr-1731 622 24 such such ADJ cblr-1731 622 25 as as ADP cblr-1731 622 26 beatrice beatrice NOUN cblr-1731 622 27 , , PUNCT cblr-1731 622 28 gulf gulf PROPN cblr-1731 622 29 & & CCONJ cblr-1731 622 30 western western PROPN cblr-1731 622 31 , , PUNCT cblr-1731 622 32 litton litton PROPN cblr-1731 622 33 , , PUNCT cblr-1731 622 34 or or CCONJ cblr-1731 622 35 textron textron NOUN cblr-1731 622 36 . . PUNCT cblr-1731 623 1 and and CCONJ cblr-1731 623 2 its its PRON cblr-1731 623 3 performance performance NOUN cblr-1731 623 4 is be AUX cblr-1731 623 5 peerless peerless ADJ cblr-1731 623 6 . . PUNCT cblr-1731 624 1 one one NUM cblr-1731 624 2 broad broad ADJ cblr-1731 624 3 reason reason NOUN cblr-1731 624 4 for for ADP cblr-1731 624 5 this this DET cblr-1731 624 6 success success NOUN cblr-1731 624 7 is be AUX cblr-1731 624 8 that that PRON cblr-1731 624 9 berkshire berkshire NOUN cblr-1731 624 10 recognized recognize VERB cblr-1731 624 11 and and CCONJ cblr-1731 624 12 avoided avoid VERB cblr-1731 624 13 all all DET cblr-1731 624 14 the the DET cblr-1731 624 15 pitfalls pitfall NOUN cblr-1731 624 16 : : PUNCT cblr-1731 624 17 buffett buffett PROPN cblr-1731 624 18 , , PUNCT cblr-1731 624 19 as as ADP cblr-1731 624 20 chief chief ADJ cblr-1731 624 21 executive executive NOUN cblr-1731 624 22 , , PUNCT cblr-1731 624 23 is be AUX cblr-1731 624 24 the the DET cblr-1731 624 25 opposite opposite NOUN cblr-1731 624 26 of of ADP cblr-1731 624 27 a a DET cblr-1731 624 28 micromanager micromanager NOUN cblr-1731 624 29 ; ; PUNCT cblr-1731 624 30 berkshire berkshire NOUN cblr-1731 624 31 ’s ’s PART cblr-1731 624 32 decentralization decentralization NOUN cblr-1731 624 33 and and CCONJ cblr-1731 624 34 principle principle NOUN cblr-1731 624 35 of of ADP cblr-1731 624 36 managerial managerial ADJ cblr-1731 624 37 154 154 NUM cblr-1731 624 38 see see NOUN cblr-1731 624 39 george george PROPN cblr-1731 624 40 p. p. PROPN cblr-1731 624 41 baker baker PROPN cblr-1731 624 42 & & CCONJ cblr-1731 624 43 george george PROPN cblr-1731 624 44 david david PROPN cblr-1731 624 45 smith smith PROPN cblr-1731 624 46 , , PUNCT cblr-1731 624 47 the the DET cblr-1731 624 48 new new ADJ cblr-1731 624 49 financial financial ADJ cblr-1731 624 50 capitalists capitalist NOUN cblr-1731 624 51 : : PUNCT cblr-1731 624 52 kohlberg kohlberg PROPN cblr-1731 624 53 kravis kravis PROPN cblr-1731 624 54 roberts roberts PROPN cblr-1731 624 55 and and CCONJ cblr-1731 624 56 the the DET cblr-1731 624 57 creation creation NOUN cblr-1731 624 58 of of ADP cblr-1731 624 59 corporate corporate ADJ cblr-1731 624 60 value value NOUN cblr-1731 624 61 168 168 NUM cblr-1731 624 62 ( ( PUNCT cblr-1731 624 63 1998 1998 NUM cblr-1731 624 64 ) ) PUNCT cblr-1731 624 65 ( ( PUNCT cblr-1731 624 66 “ " PUNCT cblr-1731 624 67 the the DET cblr-1731 624 68 documented document VERB cblr-1731 624 69 behavior behavior NOUN cblr-1731 624 70 of of ADP cblr-1731 624 71 successful successful ADJ cblr-1731 624 72 conglomerates conglomerate NOUN cblr-1731 624 73 shows show VERB cblr-1731 624 74 that that SCONJ cblr-1731 624 75 they they PRON cblr-1731 624 76 tended tend VERB cblr-1731 624 77 to to PART cblr-1731 624 78 be be AUX cblr-1731 624 79 opportunistic opportunistic ADJ cblr-1731 624 80 buyers buyer NOUN cblr-1731 624 81 but but CCONJ cblr-1731 624 82 reluctant reluctant ADJ cblr-1731 624 83 sellers seller NOUN cblr-1731 624 84 of of ADP cblr-1731 624 85 companies company NOUN cblr-1731 624 86 . . PUNCT cblr-1731 625 1 so so ADV cblr-1731 625 2 long long ADV cblr-1731 625 3 as as SCONJ cblr-1731 625 4 constituent constituent NOUN cblr-1731 625 5 business business NOUN cblr-1731 625 6 units unit NOUN cblr-1731 625 7 continued continue VERB cblr-1731 625 8 to to PART cblr-1731 625 9 meet meet VERB cblr-1731 625 10 minimal minimal ADJ cblr-1731 625 11 corporate corporate ADJ cblr-1731 625 12 performance performance NOUN cblr-1731 625 13 criteria criterion NOUN cblr-1731 625 14 , , PUNCT cblr-1731 625 15 they they PRON cblr-1731 625 16 were be AUX cblr-1731 625 17 unlikely unlikely ADJ cblr-1731 625 18 to to PART cblr-1731 625 19 be be AUX cblr-1731 625 20 sold sell VERB cblr-1731 625 21 . . PUNCT cblr-1731 625 22 ” " PUNCT cblr-1731 625 23 ) ) PUNCT cblr-1731 625 24 . . PUNCT cblr-1731 626 1 155 155 NUM cblr-1731 626 2 see see VERB cblr-1731 626 3 davis davis PROPN cblr-1731 626 4 et et PROPN cblr-1731 626 5 al al PROPN cblr-1731 626 6 . . PROPN cblr-1731 626 7 , , PUNCT cblr-1731 626 8 supra supra PROPN cblr-1731 626 9 note note PROPN cblr-1731 626 10 152 152 NUM cblr-1731 626 11 , , PUNCT cblr-1731 626 12 at at ADP cblr-1731 626 13 554 554 NUM cblr-1731 626 14 . . PUNCT cblr-1731 627 1 cunningham cunningham PROPN cblr-1731 627 2 – – PUNCT cblr-1731 627 3 final final ADJ cblr-1731 627 4 52 52 NUM cblr-1731 627 5 columbia columbia PROPN cblr-1731 627 6 business business NOUN cblr-1731 627 7 law law PROPN cblr-1731 627 8 review review NOUN cblr-1731 627 9 [ [ X cblr-1731 627 10 vol vol NOUN cblr-1731 627 11 . . NOUN cblr-1731 627 12 2016 2016 NUM cblr-1731 627 13 autonomy autonomy NOUN cblr-1731 627 14 enables enable VERB cblr-1731 627 15 managerial managerial ADJ cblr-1731 627 16 focus focus NOUN cblr-1731 627 17 ; ; PUNCT cblr-1731 627 18 buffett buffett PROPN cblr-1731 627 19 ’s ’s PART cblr-1731 627 20 investment investment NOUN cblr-1731 627 21 acumen acuman NOUN cblr-1731 627 22 made make VERB cblr-1731 627 23 berkshire berkshire NOUN cblr-1731 627 24 ’s ’s PART cblr-1731 627 25 practice practice NOUN cblr-1731 627 26 of of ADP cblr-1731 627 27 diversification diversification NOUN cblr-1731 627 28 valuable valuable ADJ cblr-1731 627 29 to to ADP cblr-1731 627 30 investors investor NOUN cblr-1731 627 31 ; ; PUNCT cblr-1731 627 32 and and CCONJ cblr-1731 627 33 berkshire berkshire NOUN cblr-1731 627 34 ’s ’s PART cblr-1731 627 35 internal internal ADJ cblr-1731 627 36 capital capital NOUN cblr-1731 627 37 allocation allocation NOUN cblr-1731 627 38 saved save VERB cblr-1731 627 39 stockholders stockholder NOUN cblr-1731 627 40 sizable sizable ADJ cblr-1731 627 41 transaction transaction NOUN cblr-1731 627 42 costs cost NOUN cblr-1731 627 43 and and CCONJ cblr-1731 627 44 taxes taxis NOUN cblr-1731 627 45 . . PUNCT cblr-1731 628 1 berkshire berkshire PROPN cblr-1731 628 2 was be AUX cblr-1731 628 3 not not PART cblr-1731 628 4 the the DET cblr-1731 628 5 only only ADJ cblr-1731 628 6 conglomerate conglomerate NOUN cblr-1731 628 7 to to PART cblr-1731 628 8 prosper prosper VERB cblr-1731 628 9 amid amid ADP cblr-1731 628 10 the the DET cblr-1731 628 11 anti anti ADJ cblr-1731 628 12 - - ADJ cblr-1731 628 13 conglomerate conglomerate ADJ cblr-1731 628 14 environment environment NOUN cblr-1731 628 15 of of ADP cblr-1731 628 16 recent recent ADJ cblr-1731 628 17 decades decade NOUN cblr-1731 628 18 . . PUNCT cblr-1731 629 1 several several ADJ cblr-1731 629 2 other other ADJ cblr-1731 629 3 thriving thrive VERB cblr-1731 629 4 conglomerates conglomerate NOUN cblr-1731 629 5 stand stand VERB cblr-1731 629 6 out out ADP cblr-1731 629 7 among among ADP cblr-1731 629 8 widely widely ADV cblr-1731 629 9 - - PUNCT cblr-1731 629 10 held hold VERB cblr-1731 629 11 public public ADJ cblr-1731 629 12 companies company NOUN cblr-1731 629 13 . . PUNCT cblr-1731 630 1 a a DET cblr-1731 630 2 venerable venerable ADJ cblr-1731 630 3 case case NOUN cblr-1731 630 4 is be AUX cblr-1731 630 5 general general ADJ cblr-1731 630 6 electric electric NOUN cblr-1731 630 7 , , PUNCT cblr-1731 630 8 whose whose DET cblr-1731 630 9 divisions division NOUN cblr-1731 630 10 span span VERB cblr-1731 630 11 aviation aviation NOUN cblr-1731 630 12 , , PUNCT cblr-1731 630 13 energy energy NOUN cblr-1731 630 14 management management NOUN cblr-1731 630 15 , , PUNCT cblr-1731 630 16 jet jet NOUN cblr-1731 630 17 engines engine NOUN cblr-1731 630 18 , , PUNCT cblr-1731 630 19 light light ADJ cblr-1731 630 20 bulbs bulb NOUN cblr-1731 630 21 , , PUNCT cblr-1731 630 22 and and CCONJ cblr-1731 630 23 water water NOUN cblr-1731 630 24 . . 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PROPN cblr-1731 632 4 j. j. PROPN cblr-1731 632 5 ( ( PUNCT cblr-1731 632 6 apr apr PROPN cblr-1731 632 7 . . PROPN cblr-1731 632 8 17 17 NUM cblr-1731 632 9 , , PUNCT cblr-1731 632 10 2014 2014 NUM cblr-1731 632 11 , , PUNCT cblr-1731 632 12 4:31 4:31 NUM cblr-1731 632 13 pm pm NOUN cblr-1731 632 14 ) ) PUNCT cblr-1731 632 15 , , PUNCT cblr-1731 632 16 http://www.wsj.com/articles/sb100014240527023036268045795053815994 http://www.wsj.com/articles/sb100014240527023036268045795053815994 NOUN cblr-1731 632 17 50134 50134 NUM cblr-1731 632 18 [ [ X cblr-1731 632 19 http://perma.cc/z7n4-x4fw http://perma.cc/z7n4-x4fw X cblr-1731 632 20 ] ] X cblr-1731 632 21 . . PUNCT cblr-1731 633 1 157 157 NUM cblr-1731 633 2 joann joann PROPN cblr-1731 633 3 s. s. PROPN cblr-1731 633 4 lublin lublin PROPN cblr-1731 633 5 et et PROPN cblr-1731 633 6 al al PROPN cblr-1731 633 7 . . PROPN cblr-1731 633 8 , , PUNCT cblr-1731 633 9 ge ge PROPN cblr-1731 633 10 seeks seek VERB cblr-1731 633 11 exit exit NOUN cblr-1731 633 12 from from ADP cblr-1731 633 13 banking banking NOUN cblr-1731 633 14 business business NOUN cblr-1731 633 15 , , PUNCT cblr-1731 633 16 wall wall PROPN cblr-1731 633 17 st st PROPN cblr-1731 633 18 . . PROPN cblr-1731 633 19 j. j. PROPN cblr-1731 633 20 ( ( PUNCT cblr-1731 633 21 apr apr PROPN cblr-1731 633 22 . . PROPN cblr-1731 633 23 10 10 NUM cblr-1731 633 24 , , PUNCT cblr-1731 633 25 2015 2015 NUM cblr-1731 633 26 , , PUNCT cblr-1731 633 27 6:31 6:31 NUM cblr-1731 633 28 pm pm NOUN cblr-1731 633 29 ) ) PUNCT cblr-1731 633 30 , , PUNCT cblr-1731 634 1 http://www.wsj.com/articles/geprepared-to-exit-the-bulk-of-ge-capital-1428662109 http://www.wsj.com/articles/geprepared-to-exit-the-bulk-of-ge-capital-1428662109 ADJ cblr-1731 634 2 [ [ PUNCT cblr-1731 634 3 http://perma.cc/u28w http://perma.cc/u28w NOUN cblr-1731 634 4 -75r7 -75r7 PROPN cblr-1731 634 5 ] ] X cblr-1731 634 6 ; ; PUNCT cblr-1731 634 7 justin justin PROPN cblr-1731 634 8 fox fox PROPN cblr-1731 634 9 , , PUNCT cblr-1731 634 10 is be AUX cblr-1731 634 11 ge ge PROPN cblr-1731 634 12 capital capital PROPN cblr-1731 634 13 a a DET cblr-1731 634 14 dodd dodd PROPN cblr-1731 634 15 - - PUNCT cblr-1731 634 16 frank frank ADJ cblr-1731 634 17 victim victim NOUN cblr-1731 634 18 ? ? PUNCT cblr-1731 634 19 , , PUNCT cblr-1731 634 20 bloombergview bloombergview NOUN cblr-1731 634 21 ( ( PUNCT cblr-1731 634 22 apr apr PROPN cblr-1731 634 23 . . PROPN cblr-1731 634 24 10 10 NUM cblr-1731 634 25 , , PUNCT cblr-1731 634 26 2015 2015 NUM cblr-1731 634 27 , , PUNCT cblr-1731 634 28 2:50 2:50 NUM cblr-1731 634 29 pm pm NOUN cblr-1731 634 30 ) ) PUNCT cblr-1731 634 31 , , PUNCT cblr-1731 634 32 http://www.bloombergview.com/articles/2015-0410/ge-blazes-a-path-for-the-financial-giants-to-follow http://www.bloombergview.com/articles/2015-0410/ge-blazes-a-path-for-the-financial-giants-to-follow PROPN cblr-1731 635 1 [ [ X cblr-1731 635 2 http://perma.cc/mv http://perma.cc/mv NOUN cblr-1731 635 3 f6 f6 PROPN cblr-1731 635 4 - - PUNCT cblr-1731 635 5 s2fm s2fm PROPN cblr-1731 635 6 ] ] X cblr-1731 635 7 . . PUNCT cblr-1731 636 1 158 158 NUM cblr-1731 636 2 see see VERB cblr-1731 636 3 mann mann PROPN cblr-1731 636 4 & & CCONJ cblr-1731 636 5 mccarthy mccarthy PROPN cblr-1731 636 6 , , PUNCT cblr-1731 636 7 supra supra PROPN cblr-1731 636 8 note note NOUN cblr-1731 636 9 156 156 NUM cblr-1731 636 10 . . NOUN cblr-1731 636 11 159 159 NUM cblr-1731 636 12 see see VERB cblr-1731 636 13 our our PRON cblr-1731 636 14 businesses business NOUN cblr-1731 636 15 at at ADP cblr-1731 636 16 a a DET cblr-1731 636 17 glance glance NOUN cblr-1731 636 18 , , PUNCT cblr-1731 636 19 united united PROPN cblr-1731 636 20 technologies technologies PROPN cblr-1731 636 21 , , PUNCT cblr-1731 636 22 http://www.utc.com/our-businesses/pages/at-a-glance.aspx http://www.utc.com/our-businesses/pages/at-a-glance.aspx X cblr-1731 637 1 [ [ X cblr-1731 637 2 http://perma http://perma NOUN cblr-1731 637 3 . . PUNCT cblr-1731 637 4 cc cc NOUN cblr-1731 637 5 / / SYM cblr-1731 637 6 ur9k ur9k PROPN cblr-1731 637 7 - - PUNCT cblr-1731 637 8 cjx2 cjx2 PROPN cblr-1731 637 9 ] ] PUNCT cblr-1731 637 10 . . PUNCT cblr-1731 638 1 yet yet ADV cblr-1731 638 2 another another DET cblr-1731 638 3 example example NOUN cblr-1731 638 4 is be AUX cblr-1731 638 5 honeywell honeywell PROPN cblr-1731 638 6 international international PROPN cblr-1731 638 7 inc inc PROPN cblr-1731 638 8 . . PROPN cblr-1731 638 9 see see VERB cblr-1731 638 10 ted ted PROPN cblr-1731 638 11 mann mann PROPN cblr-1731 638 12 , , PUNCT cblr-1731 638 13 conglomerate conglomerate NOUN cblr-1731 638 14 honeywell honeywell PROPN cblr-1731 638 15 finds find VERB cblr-1731 638 16 love love NOUN cblr-1731 638 17 amid amid ADP cblr-1731 638 18 the the DET cblr-1731 638 19 breakups breakup NOUN cblr-1731 638 20 , , PUNCT cblr-1731 639 1 wall wall PROPN cblr-1731 639 2 st st PROPN cblr-1731 639 3 . . PROPN cblr-1731 639 4 j. j. PROPN cblr-1731 639 5 ( ( PUNCT cblr-1731 639 6 sept sept PROPN cblr-1731 639 7 . . PROPN cblr-1731 639 8 2 2 NUM cblr-1731 639 9 , , PUNCT cblr-1731 639 10 2015 2015 NUM cblr-1731 639 11 , , PUNCT cblr-1731 639 12 12:53 12:53 NUM cblr-1731 639 13 am am NOUN cblr-1731 639 14 ) ) PUNCT cblr-1731 639 15 , , PUNCT cblr-1731 639 16 http://www.wsj.com/articles/conglomeratehoneywell-finds-love-amid-the-breakups-1441156184 http://www.wsj.com/articles/conglomeratehoneywell-finds-love-amid-the-breakups-1441156184 PROPN cblr-1731 640 1 [ [ X cblr-1731 640 2 http://perma.cc/4c http://perma.cc/4c PROPN cblr-1731 640 3 7s-5stk 7s-5stk NUM cblr-1731 640 4 ] ] PUNCT cblr-1731 640 5 . . PUNCT cblr-1731 641 1 cunningham cunningham PROPN cblr-1731 641 2 – – PUNCT cblr-1731 641 3 final final ADJ cblr-1731 641 4 no no NOUN cblr-1731 641 5 . . NOUN cblr-1731 641 6 1:1 1:1 NUM cblr-1731 641 7 ] ] PUNCT cblr-1731 641 8 berkshire berkshire NOUN cblr-1731 641 9 ’s ’s PART cblr-1731 641 10 blemishes blemish NOUN cblr-1731 641 11 53 53 NUM cblr-1731 641 12 conglomerates conglomerate NOUN cblr-1731 641 13 also also ADV cblr-1731 641 14 continue continue VERB cblr-1731 641 15 to to PART cblr-1731 641 16 flourish flourish VERB cblr-1731 641 17 among among ADP cblr-1731 641 18 closelyheld closelyheld ADJ cblr-1731 641 19 companies company NOUN cblr-1731 641 20 or or CCONJ cblr-1731 641 21 public public ADJ cblr-1731 641 22 companies company NOUN cblr-1731 641 23 with with ADP cblr-1731 641 24 controlling control VERB cblr-1731 641 25 shareholders shareholder NOUN cblr-1731 641 26 . . PUNCT cblr-1731 642 1 an an DET cblr-1731 642 2 example example NOUN cblr-1731 642 3 of of ADP cblr-1731 642 4 the the DET cblr-1731 642 5 latter latter ADJ cblr-1731 642 6 is be AUX cblr-1731 642 7 danaher danaher PROPN cblr-1731 642 8 corporation corporation NOUN cblr-1731 642 9 , , PUNCT cblr-1731 642 10 a a DET cblr-1731 642 11 fortune fortune NOUN cblr-1731 642 12 500 500 NUM cblr-1731 642 13 company company NOUN cblr-1731 642 14 run run VERB cblr-1731 642 15 by by ADP cblr-1731 642 16 mitchell mitchell PROPN cblr-1731 642 17 and and CCONJ cblr-1731 642 18 steven steven PROPN cblr-1731 642 19 rales rale NOUN cblr-1731 642 20 operating operate VERB cblr-1731 642 21 in in ADP cblr-1731 642 22 numerous numerous ADJ cblr-1731 642 23 sectors sector NOUN cblr-1731 642 24 , , PUNCT cblr-1731 642 25 including include VERB cblr-1731 642 26 dental dental ADJ cblr-1731 642 27 equipment equipment NOUN cblr-1731 642 28 , , PUNCT cblr-1731 642 29 life life NOUN cblr-1731 642 30 sciences science NOUN cblr-1731 642 31 , , PUNCT cblr-1731 642 32 environmental environmental ADJ cblr-1731 642 33 technologies technology NOUN cblr-1731 642 34 , , PUNCT cblr-1731 642 35 industrial industrial ADJ cblr-1731 642 36 tools tool NOUN cblr-1731 642 37 , , PUNCT cblr-1731 642 38 and and CCONJ cblr-1731 642 39 precision precision NOUN cblr-1731 642 40 instruments instrument NOUN cblr-1731 642 41 . . PUNCT cblr-1731 643 1 among among ADP cblr-1731 643 2 closelyheld closelyheld PROPN cblr-1731 643 3 conglomerates conglomerate NOUN cblr-1731 643 4 , , PUNCT cblr-1731 643 5 an an DET cblr-1731 643 6 exemplar exemplar NOUN cblr-1731 643 7 is be AUX cblr-1731 643 8 the the DET cblr-1731 643 9 marmon marmon PROPN cblr-1731 643 10 group group NOUN cblr-1731 643 11 , , PUNCT cblr-1731 643 12 a a DET cblr-1731 643 13 classic classic ADJ cblr-1731 643 14 and and CCONJ cblr-1731 643 15 massive massive ADJ cblr-1731 643 16 conglomerate conglomerate NOUN cblr-1731 643 17 built build VERB cblr-1731 643 18 by by ADP cblr-1731 643 19 jay jay PROPN cblr-1731 643 20 and and CCONJ cblr-1731 643 21 bob bob PROPN cblr-1731 643 22 pritzker pritzker PROPN cblr-1731 643 23 during during ADP cblr-1731 643 24 the the DET cblr-1731 643 25 conglomerate conglomerate NOUN cblr-1731 643 26 boom boom NOUN cblr-1731 643 27 and and CCONJ cblr-1731 643 28 afterwards afterwards ADV cblr-1731 643 29 — — PUNCT cblr-1731 643 30 and and CCONJ cblr-1731 643 31 acquired acquire VERB cblr-1731 643 32 by by ADP cblr-1731 643 33 berkshire berkshire NOUN cblr-1731 643 34 in in ADP cblr-1731 643 35 2006 2006 NUM cblr-1731 643 36 . . PUNCT cblr-1731 644 1 today today NOUN cblr-1731 644 2 , , PUNCT cblr-1731 644 3 an an DET cblr-1731 644 4 entire entire ADJ cblr-1731 644 5 sector sector NOUN cblr-1731 644 6 is be AUX cblr-1731 644 7 reviving revive VERB cblr-1731 644 8 the the DET cblr-1731 644 9 conglomerate conglomerate NOUN cblr-1731 644 10 model model NOUN cblr-1731 644 11 , , PUNCT cblr-1731 644 12 led lead VERB cblr-1731 644 13 by by ADP cblr-1731 644 14 technology technology NOUN cblr-1731 644 15 behemoths behemoth NOUN cblr-1731 644 16 such such ADJ cblr-1731 644 17 as as ADP cblr-1731 644 18 amazon amazon NOUN cblr-1731 644 19 , , PUNCT cblr-1731 644 20 facebook facebook NOUN cblr-1731 644 21 , , PUNCT cblr-1731 644 22 and and CCONJ cblr-1731 644 23 google google PROPN cblr-1731 644 24 . . PUNCT cblr-1731 645 1 the the DET cblr-1731 645 2 movement movement NOUN cblr-1731 645 3 is be AUX cblr-1731 645 4 epitomized epitomize VERB cblr-1731 645 5 by by ADP cblr-1731 645 6 the the DET cblr-1731 645 7 conscious conscious ADJ cblr-1731 645 8 decision decision NOUN cblr-1731 645 9 of of ADP cblr-1731 645 10 google google PROPN cblr-1731 645 11 to to PART cblr-1731 645 12 reorganize reorganize VERB cblr-1731 645 13 as as SCONJ cblr-1731 645 14 alphabet alphabet PROPN cblr-1731 645 15 inc inc PROPN cblr-1731 645 16 . . PROPN cblr-1731 645 17 to to PART cblr-1731 645 18 arrange arrange VERB cblr-1731 645 19 the the DET cblr-1731 645 20 growing grow VERB cblr-1731 645 21 diversity diversity NOUN cblr-1731 645 22 of of ADP cblr-1731 645 23 its its PRON cblr-1731 645 24 businesses.160 businesses.160 NOUN cblr-1731 645 25 generating generate VERB cblr-1731 645 26 abundant abundant ADJ cblr-1731 645 27 cash cash NOUN cblr-1731 645 28 from from ADP cblr-1731 645 29 its its PRON cblr-1731 645 30 primary primary ADJ cblr-1731 645 31 search search NOUN cblr-1731 645 32 business business NOUN cblr-1731 645 33 , , PUNCT cblr-1731 645 34 google google PROPN cblr-1731 645 35 has have AUX cblr-1731 645 36 expanded expand VERB cblr-1731 645 37 into into ADP cblr-1731 645 38 many many ADJ cblr-1731 645 39 fields field NOUN cblr-1731 645 40 , , PUNCT cblr-1731 645 41 although although SCONJ cblr-1731 645 42 they they PRON cblr-1731 645 43 pivot pivot VERB cblr-1731 645 44 around around ADP cblr-1731 645 45 highly highly ADV cblr-1731 645 46 - - PUNCT cblr-1731 645 47 innovative innovative ADJ cblr-1731 645 48 technology technology NOUN cblr-1731 645 49 : : PUNCT cblr-1731 645 50 android android PROPN cblr-1731 645 51 , , PUNCT cblr-1731 645 52 chrome chrome NOUN cblr-1731 645 53 , , PUNCT cblr-1731 645 54 nest nest NOUN cblr-1731 645 55 , , PUNCT cblr-1731 645 56 youtube youtube NOUN cblr-1731 645 57 , , PUNCT cblr-1731 645 58 and and CCONJ cblr-1731 645 59 the the DET cblr-1731 645 60 driverless driverless NOUN cblr-1731 645 61 car car NOUN cblr-1731 645 62 business business NOUN cblr-1731 645 63 . . PUNCT cblr-1731 646 1 google google PROPN cblr-1731 646 2 is be AUX cblr-1731 646 3 consciously consciously ADV cblr-1731 646 4 mimicking mimic VERB cblr-1731 646 5 berkshire berkshire NOUN cblr-1731 646 6 in in ADP cblr-1731 646 7 adopting adopt VERB cblr-1731 646 8 an an DET cblr-1731 646 9 autonomous autonomous ADJ cblr-1731 646 10 , , PUNCT cblr-1731 646 11 decentralized decentralize VERB cblr-1731 646 12 , , PUNCT cblr-1731 646 13 and and CCONJ cblr-1731 646 14 trust trust NOUN cblr-1731 646 15 - - PUNCT cblr-1731 646 16 based base VERB cblr-1731 646 17 organizational organizational ADJ cblr-1731 646 18 model model NOUN cblr-1731 646 19 , , PUNCT cblr-1731 646 20 and and CCONJ cblr-1731 646 21 its its PRON cblr-1731 646 22 origins origin NOUN cblr-1731 646 23 resemble resemble VERB cblr-1731 646 24 those those PRON cblr-1731 646 25 of of ADP cblr-1731 646 26 general general ADJ cblr-1731 646 27 electric electric PROPN cblr-1731 646 28 . . 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PROPN cblr-1731 652 19 21 21 NUM cblr-1731 652 20 , , PUNCT cblr-1731 652 21 2015 2015 NUM cblr-1731 652 22 , , PUNCT cblr-1731 652 23 12:30 12:30 NUM cblr-1731 652 24 am am NOUN cblr-1731 652 25 ) ) PUNCT cblr-1731 652 26 , , PUNCT cblr-1731 652 27 http://www.omaha.com/money/ http://www.omaha.com/money/ PROPN cblr-1731 652 28 are be AUX cblr-1731 652 29 - - PUNCT cblr-1731 652 30 conglomerates conglomerate NOUN cblr-1731 652 31 - - PUNCT cblr-1731 652 32 making make VERB cblr-1731 652 33 - - PUNCT cblr-1731 652 34 a a DET cblr-1731 652 35 - - PUNCT cblr-1731 652 36 comeback comeback NOUN cblr-1731 652 37 - - PUNCT cblr-1731 652 38 berkshire berkshire NOUN cblr-1731 652 39 - - PUNCT cblr-1731 652 40 hathaway hathaway NOUN cblr-1731 652 41 - - PUNCT cblr-1731 652 42 s s NOUN cblr-1731 652 43 - - PUNCT cblr-1731 652 44 businesscunningham businesscunningham ADJ cblr-1731 652 45 – – PUNCT cblr-1731 652 46 final final ADJ cblr-1731 652 47 54 54 NUM cblr-1731 652 48 columbia columbia PROPN cblr-1731 652 49 business business NOUN cblr-1731 652 50 law law PROPN cblr-1731 652 51 review review NOUN cblr-1731 652 52 [ [ X cblr-1731 652 53 vol vol NOUN cblr-1731 652 54 . . 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PUNCT cblr-1731 653 1 google google PROPN cblr-1731 653 2 — — PUNCT cblr-1731 653 3 along along ADP cblr-1731 653 4 with with ADP cblr-1731 653 5 the the DET cblr-1731 653 6 likes like NOUN cblr-1731 653 7 of of ADP cblr-1731 653 8 amazon amazon NOUN cblr-1731 653 9 and and CCONJ cblr-1731 653 10 facebook facebook PROPN cblr-1731 653 11 — — PUNCT cblr-1731 653 12 has have VERB cblr-1731 653 13 the the DET cblr-1731 653 14 opportunity opportunity NOUN cblr-1731 653 15 to to PART cblr-1731 653 16 extend extend VERB cblr-1731 653 17 the the DET cblr-1731 653 18 proof proof NOUN cblr-1731 653 19 and and CCONJ cblr-1731 653 20 the the DET cblr-1731 653 21 lessons lesson NOUN cblr-1731 653 22 . . 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NOUN cblr-1731 665 6 1:1 1:1 NUM cblr-1731 665 7 ] ] PUNCT cblr-1731 665 8 berkshire berkshire PROPN cblr-1731 665 9 ’s ’s PART cblr-1731 665 10 blemishes blemish NOUN cblr-1731 665 11 55 55 NUM cblr-1731 665 12 and and CCONJ cblr-1731 665 13 google google PROPN cblr-1731 665 14 — — PUNCT cblr-1731 665 15 is be AUX cblr-1731 665 16 large large ADJ cblr-1731 665 17 block block NOUN cblr-1731 665 18 shareholdings.165 shareholdings.165 VERB cblr-1731 665 19 no no DET cblr-1731 665 20 raider raider NOUN cblr-1731 665 21 during during ADP cblr-1731 665 22 the the DET cblr-1731 665 23 heyday heyday NOUN cblr-1731 665 24 of of ADP cblr-1731 665 25 the the DET cblr-1731 665 26 hostile hostile ADJ cblr-1731 665 27 takeover takeover NOUN cblr-1731 665 28 and and CCONJ cblr-1731 665 29 no no DET cblr-1731 665 30 shareholder shareholder NOUN cblr-1731 665 31 activist activist NOUN cblr-1731 665 32 today today NOUN cblr-1731 665 33 would would AUX cblr-1731 665 34 consider consider VERB cblr-1731 665 35 targeting target VERB cblr-1731 665 36 berkshire.166 berkshire.166 NOUN cblr-1731 665 37 indeed indeed ADV cblr-1731 665 38 , , PUNCT cblr-1731 665 39 buffett buffett PROPN cblr-1731 665 40 famously famously ADV cblr-1731 665 41 aligned align VERB cblr-1731 665 42 with with ADP cblr-1731 665 43 the the DET cblr-1731 665 44 defenders defender NOUN cblr-1731 665 45 of of ADP cblr-1731 665 46 corporate corporate ADJ cblr-1731 665 47 bastions bastion NOUN cblr-1731 665 48 during during ADP cblr-1731 665 49 the the DET cblr-1731 665 50 1980s 1980s NUM cblr-1731 665 51 hostile hostile ADJ cblr-1731 665 52 takeover takeover NOUN cblr-1731 665 53 wave wave NOUN cblr-1731 665 54 , , PUNCT cblr-1731 665 55 as as SCONJ cblr-1731 665 56 berkshire berkshire NOUN cblr-1731 665 57 provided provide VERB cblr-1731 665 58 takeover takeover NOUN cblr-1731 665 59 defense defense NOUN cblr-1731 665 60 to to ADP cblr-1731 665 61 companies company NOUN cblr-1731 665 62 such such ADJ cblr-1731 665 63 as as ADP cblr-1731 665 64 gillette gillette NOUN cblr-1731 665 65 by by ADP cblr-1731 665 66 acquiring acquire VERB cblr-1731 665 67 substantial substantial ADJ cblr-1731 665 68 convertible convertible ADJ cblr-1731 665 69 preferred preferred ADJ cblr-1731 665 70 stock stock NOUN cblr-1731 665 71 and and CCONJ cblr-1731 665 72 , , PUNCT cblr-1731 665 73 in in ADP cblr-1731 665 74 the the DET cblr-1731 665 75 case case NOUN cblr-1731 665 76 of of ADP cblr-1731 665 77 scott scott PROPN cblr-1731 665 78 fetzer fetzer PROPN cblr-1731 665 79 , , PUNCT cblr-1731 665 80 acquired acquire VERB cblr-1731 665 81 the the DET cblr-1731 665 82 entire entire ADJ cblr-1731 665 83 company company NOUN cblr-1731 665 84 as as ADP cblr-1731 665 85 a a DET cblr-1731 665 86 white white ADJ cblr-1731 665 87 knight knight NOUN cblr-1731 665 88 to to PART cblr-1731 665 89 defeat defeat VERB cblr-1731 665 90 a a DET cblr-1731 665 91 hostile hostile ADJ cblr-1731 665 92 bid.167 bid.167 NOUN cblr-1731 666 1 but but CCONJ cblr-1731 666 2 the the DET cblr-1731 666 3 calculus calculus NOUN cblr-1731 666 4 may may AUX cblr-1731 666 5 differ differ VERB cblr-1731 666 6 after after SCONJ cblr-1731 666 7 buffett buffett PROPN cblr-1731 666 8 departs depart VERB cblr-1731 666 9 from from ADP cblr-1731 666 10 the the DET cblr-1731 666 11 scene scene NOUN cblr-1731 666 12 . . PUNCT cblr-1731 667 1 after after ADV cblr-1731 667 2 all all ADV cblr-1731 667 3 , , PUNCT cblr-1731 667 4 despite despite SCONJ cblr-1731 667 5 a a DET cblr-1731 667 6 market market NOUN cblr-1731 667 7 capitalization capitalization NOUN cblr-1731 667 8 of of ADP cblr-1731 667 9 nearly nearly ADV cblr-1731 667 10 a a DET cblr-1731 667 11 half half ADJ cblr-1731 667 12 - - PUNCT cblr-1731 667 13 trillion trillion NUM cblr-1731 667 14 dollars dollar NOUN cblr-1731 667 15 , , PUNCT cblr-1731 667 16 many many ADJ cblr-1731 667 17 analysts analyst NOUN cblr-1731 667 18 calculate calculate VERB cblr-1731 667 19 that that DET cblr-1731 667 20 berkshire berkshire NOUN cblr-1731 667 21 is be AUX cblr-1731 667 22 worth worth ADJ cblr-1731 667 23 more more ADJ cblr-1731 667 24 — — PUNCT cblr-1731 667 25 that that SCONJ cblr-1731 667 26 the the DET cblr-1731 667 27 sum sum NOUN cblr-1731 667 28 of of ADP cblr-1731 667 29 the the DET cblr-1731 667 30 parts part NOUN cblr-1731 667 31 is be AUX cblr-1731 667 32 greater great ADJ cblr-1731 667 33 than than ADP cblr-1731 667 34 the the DET cblr-1731 667 35 whole whole ADJ cblr-1731 667 36 and and CCONJ cblr-1731 667 37 certainly certainly ADV cblr-1731 667 38 substantial substantial ADJ cblr-1731 667 39 multiples multiple NOUN cblr-1731 667 40 of of ADP cblr-1731 667 41 book book NOUN cblr-1731 667 42 value.168 value.168 NOUN cblr-1731 667 43 indeed indeed ADV cblr-1731 667 44 , , PUNCT cblr-1731 667 45 berkshire berkshire PROPN cblr-1731 667 46 invariably invariably ADV cblr-1731 667 47 recovers recover VERB cblr-1731 667 48 its its PRON cblr-1731 667 49 purchase purchase NOUN cblr-1731 667 50 price price NOUN cblr-1731 667 51 on on ADP cblr-1731 667 52 acquisitions acquisition NOUN cblr-1731 667 53 and and CCONJ cblr-1731 667 54 investments investment NOUN cblr-1731 667 55 rapidly rapidly ADV cblr-1731 667 56 , , PUNCT cblr-1731 667 57 amid amid ADP cblr-1731 667 58 rising rise VERB cblr-1731 667 59 economic economic ADJ cblr-1731 667 60 goodwill goodwill NOUN cblr-1731 667 61 , , PUNCT cblr-1731 667 62 while while SCONJ cblr-1731 667 63 recording recording NOUN cblr-1731 667 64 acquisitions acquisition NOUN cblr-1731 667 65 at at ADP cblr-1731 667 66 cost cost NOUN cblr-1731 667 67 less less ADJ cblr-1731 667 68 depreciation depreciation NOUN cblr-1731 667 69 , , PUNCT cblr-1731 667 70 driving drive VERB cblr-1731 667 71 a a DET cblr-1731 667 72 huge huge ADJ cblr-1731 667 73 wedge wedge NOUN cblr-1731 667 74 between between ADP cblr-1731 667 75 intrinsic intrinsic ADJ cblr-1731 667 76 value value NOUN cblr-1731 667 77 and and CCONJ cblr-1731 667 78 book book NOUN cblr-1731 667 79 value.169 value.169 PROPN cblr-1731 667 80 citing cite VERB cblr-1731 667 81 criticisms criticism NOUN cblr-1731 667 82 of of ADP cblr-1731 667 83 the the DET cblr-1731 667 84 conglomerate conglomerate NOUN cblr-1731 667 85 business business NOUN cblr-1731 667 86 model model NOUN cblr-1731 667 87 , , PUNCT cblr-1731 667 88 activists activist NOUN cblr-1731 667 89 will will AUX cblr-1731 667 90 urge urge VERB cblr-1731 667 91 buffett buffett PROPN cblr-1731 667 92 ’s ’s PART cblr-1731 667 93 successors successor NOUN cblr-1731 667 94 to to PART cblr-1731 667 95 sell sell VERB cblr-1731 667 96 berkshire berkshire NOUN cblr-1731 667 97 ’s ’s PART cblr-1731 667 98 struggling struggle VERB cblr-1731 667 99 units unit NOUN cblr-1731 667 100 , , PUNCT cblr-1731 667 101 spin spin VERB cblr-1731 667 102 off off ADP cblr-1731 667 103 the the DET cblr-1731 667 104 mediocre mediocre ADJ cblr-1731 667 105 ones one NOUN cblr-1731 667 106 , , PUNCT cblr-1731 667 107 and and CCONJ cblr-1731 667 108 install install VERB cblr-1731 667 109 new new ADJ cblr-1731 667 110 165 165 NUM cblr-1731 667 111 see see NOUN cblr-1731 667 112 deborah deborah PROPN cblr-1731 667 113 a. a. PROPN cblr-1731 667 114 demott demott PROPN cblr-1731 667 115 , , PUNCT cblr-1731 667 116 agency agency NOUN cblr-1731 667 117 principles principle NOUN cblr-1731 667 118 and and CCONJ cblr-1731 667 119 large large ADJ cblr-1731 667 120 block block NOUN cblr-1731 667 121 shareholders shareholder NOUN cblr-1731 667 122 , , PUNCT cblr-1731 667 123 19 19 NUM cblr-1731 667 124 cardozo cardozo PROPN cblr-1731 667 125 l. l. PROPN cblr-1731 667 126 rev rev PROPN cblr-1731 667 127 321 321 NUM cblr-1731 667 128 , , PUNCT cblr-1731 667 129 321 321 NUM cblr-1731 667 130 , , PUNCT cblr-1731 667 131 334 334 NUM cblr-1731 667 132 ( ( PUNCT cblr-1731 667 133 1997 1997 NUM cblr-1731 667 134 ) ) PUNCT cblr-1731 667 135 . . PUNCT cblr-1731 668 1 166 166 NUM cblr-1731 668 2 see see VERB cblr-1731 668 3 cunningham cunningham PROPN cblr-1731 668 4 , , PUNCT cblr-1731 668 5 berkshire berkshire PROPN cblr-1731 668 6 beyond beyond ADP cblr-1731 668 7 buffett buffett PROPN cblr-1731 668 8 , , PUNCT cblr-1731 668 9 supra supra PROPN cblr-1731 668 10 note note PROPN cblr-1731 668 11 6 6 NUM cblr-1731 668 12 , , PUNCT cblr-1731 668 13 at at ADP cblr-1731 668 14 198–99 198–99 NUM cblr-1731 668 15 , , PUNCT cblr-1731 668 16 203 203 NUM cblr-1731 668 17 , , PUNCT cblr-1731 668 18 210 210 NUM cblr-1731 668 19 . . PUNCT cblr-1731 669 1 167 167 NUM cblr-1731 669 2 cunningham cunningham PROPN cblr-1731 669 3 , , PUNCT cblr-1731 669 4 supra supra PROPN cblr-1731 669 5 note note NOUN cblr-1731 669 6 2 2 NUM cblr-1731 669 7 , , PUNCT cblr-1731 669 8 at at ADP cblr-1731 669 9 17 17 NUM cblr-1731 669 10 . . 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PROPN cblr-1731 671 5 19 19 NUM cblr-1731 671 6 , , PUNCT cblr-1731 671 7 2013 2013 NUM cblr-1731 671 8 ) ) PUNCT cblr-1731 671 9 , , PUNCT cblr-1731 671 10 http://msi.morningstar.com/image/ http://msi.morningstar.com/image/ ADP cblr-1731 671 11 brkvaluation.pdf brkvaluation.pdf X cblr-1731 671 12 [ [ X cblr-1731 671 13 http://perma.cc/la83-9ad3 http://perma.cc/la83-9ad3 X cblr-1731 671 14 ] ] PUNCT cblr-1731 671 15 . . PUNCT cblr-1731 672 1 separately separately ADV cblr-1731 672 2 value value NOUN cblr-1731 672 3 and and CCONJ cblr-1731 672 4 sum sum VERB cblr-1731 672 5 the the DET cblr-1731 672 6 major major ADJ cblr-1731 672 7 components component NOUN cblr-1731 672 8 of of ADP cblr-1731 672 9 berkshire berkshire NOUN cblr-1731 672 10 and and CCONJ cblr-1731 672 11 compare compare VERB cblr-1731 672 12 the the DET cblr-1731 672 13 result result NOUN cblr-1731 672 14 to to ADP cblr-1731 672 15 the the DET cblr-1731 672 16 company company NOUN cblr-1731 672 17 ’s ’s PART cblr-1731 672 18 market market NOUN cblr-1731 672 19 capitalization capitalization NOUN cblr-1731 672 20 : : PUNCT cblr-1731 672 21 bh bh NOUN cblr-1731 672 22 energy energy NOUN cblr-1731 672 23 , , PUNCT cblr-1731 672 24 bnfs bnfs NOUN cblr-1731 672 25 , , PUNCT cblr-1731 672 26 the the DET cblr-1731 672 27 three three NUM cblr-1731 672 28 principal principal ADJ cblr-1731 672 29 insurance insurance NOUN cblr-1731 672 30 companies company NOUN cblr-1731 672 31 ( ( PUNCT cblr-1731 672 32 gen gen PROPN cblr-1731 672 33 re re PROPN cblr-1731 672 34 , , PUNCT cblr-1731 672 35 geico geico PROPN cblr-1731 672 36 , , PUNCT cblr-1731 672 37 national national ADJ cblr-1731 672 38 indemnity indemnity NOUN cblr-1731 672 39 ) ) PUNCT cblr-1731 672 40 , , PUNCT cblr-1731 672 41 the the DET cblr-1731 672 42 finance finance NOUN cblr-1731 672 43 companies company NOUN cblr-1731 672 44 ( ( PUNCT cblr-1731 672 45 led lead VERB cblr-1731 672 46 by by ADP cblr-1731 672 47 clayton clayton PROPN cblr-1731 672 48 homes home NOUN cblr-1731 672 49 ) ) PUNCT cblr-1731 672 50 , , PUNCT cblr-1731 672 51 the the DET cblr-1731 672 52 vast vast ADJ cblr-1731 672 53 manufacturing manufacturing NOUN cblr-1731 672 54 and and CCONJ cblr-1731 672 55 services service NOUN cblr-1731 672 56 operations operation NOUN cblr-1731 672 57 , , PUNCT cblr-1731 672 58 and and CCONJ cblr-1731 672 59 the the DET cblr-1731 672 60 portfolio portfolio NOUN cblr-1731 672 61 of of ADP cblr-1731 672 62 investments investment NOUN cblr-1731 672 63 ( ( PUNCT cblr-1731 672 64 alone alone ADV cblr-1731 672 65 worth worth ADJ cblr-1731 672 66 at at ADV cblr-1731 672 67 least least ADV cblr-1731 672 68 $ $ SYM cblr-1731 672 69 120 120 NUM cblr-1731 672 70 billion billion NUM cblr-1731 672 71 ) ) PUNCT cblr-1731 672 72 . . PUNCT cblr-1731 673 1 169 169 NUM cblr-1731 673 2 see see VERB cblr-1731 673 3 the the DET cblr-1731 673 4 essays essay NOUN cblr-1731 673 5 of of ADP cblr-1731 673 6 warren warren PROPN cblr-1731 673 7 buffett buffett PROPN cblr-1731 673 8 , , PUNCT cblr-1731 673 9 supra supra PROPN cblr-1731 673 10 note note PROPN cblr-1731 673 11 15 15 NUM cblr-1731 673 12 , , PUNCT cblr-1731 673 13 at at ADP cblr-1731 673 14 226–47 226–47 NUM cblr-1731 673 15 . . PUNCT cblr-1731 674 1 cunningham cunningham PROPN cblr-1731 674 2 – – PUNCT cblr-1731 674 3 final final ADJ cblr-1731 674 4 56 56 NUM cblr-1731 674 5 columbia columbia PROPN cblr-1731 674 6 business business NOUN cblr-1731 674 7 law law PROPN cblr-1731 674 8 review review NOUN cblr-1731 674 9 [ [ X cblr-1731 674 10 vol vol NOUN cblr-1731 674 11 . . NOUN cblr-1731 674 12 2016 2016 NUM cblr-1731 674 13 managers manager NOUN cblr-1731 674 14 at at ADP cblr-1731 674 15 some.170 some.170 PROPN cblr-1731 674 16 in in ADP cblr-1731 674 17 the the DET cblr-1731 674 18 process process NOUN cblr-1731 674 19 , , PUNCT cblr-1731 674 20 activists activist NOUN cblr-1731 674 21 would would AUX cblr-1731 674 22 call call VERB cblr-1731 674 23 for for ADP cblr-1731 674 24 distributing distribute VERB cblr-1731 674 25 cash cash NOUN cblr-1731 674 26 to to ADP cblr-1731 674 27 shareholders shareholder NOUN cblr-1731 674 28 . . PUNCT cblr-1731 675 1 they they PRON cblr-1731 675 2 would would AUX cblr-1731 675 3 explain explain VERB cblr-1731 675 4 how how SCONJ cblr-1731 675 5 the the DET cblr-1731 675 6 net net ADJ cblr-1731 675 7 effect effect NOUN cblr-1731 675 8 of of ADP cblr-1731 675 9 such such ADJ cblr-1731 675 10 sales sale NOUN cblr-1731 675 11 and and CCONJ cblr-1731 675 12 distributions distribution NOUN cblr-1731 675 13 would would AUX cblr-1731 675 14 increase increase VERB cblr-1731 675 15 immediate immediate ADJ cblr-1731 675 16 value value NOUN cblr-1731 675 17 for for ADP cblr-1731 675 18 shareholders shareholder NOUN cblr-1731 675 19 . . PUNCT cblr-1731 676 1 the the DET cblr-1731 676 2 counterargument counterargument NOUN cblr-1731 676 3 will will AUX cblr-1731 676 4 stress stress VERB cblr-1731 676 5 the the DET cblr-1731 676 6 long long ADJ cblr-1731 676 7 - - PUNCT cblr-1731 676 8 term term NOUN cblr-1731 676 9 value value NOUN cblr-1731 676 10 for for ADP cblr-1731 676 11 berkshire berkshire ADJ cblr-1731 676 12 shareholders shareholder NOUN cblr-1731 676 13 of of ADP cblr-1731 676 14 ironclad ironclad ADJ cblr-1731 676 15 pledges pledge NOUN cblr-1731 676 16 to to ADP cblr-1731 676 17 business business NOUN cblr-1731 676 18 sellers seller NOUN cblr-1731 676 19 of of ADP cblr-1731 676 20 a a DET cblr-1731 676 21 permanent permanent ADJ cblr-1731 676 22 home home NOUN cblr-1731 676 23 offering offer VERB cblr-1731 676 24 managerial managerial ADJ cblr-1731 676 25 autonomy autonomy NOUN cblr-1731 676 26 and and CCONJ cblr-1731 676 27 an an DET cblr-1731 676 28 environment environment NOUN cblr-1731 676 29 in in ADP cblr-1731 676 30 which which PRON cblr-1731 676 31 vast vast ADJ cblr-1731 676 32 amounts amount NOUN cblr-1731 676 33 of of ADP cblr-1731 676 34 capital capital NOUN cblr-1731 676 35 can can AUX cblr-1731 676 36 be be AUX cblr-1731 676 37 moved move VERB cblr-1731 676 38 from from ADP cblr-1731 676 39 one one NUM cblr-1731 676 40 subsidiary subsidiary NOUN cblr-1731 676 41 to to ADP cblr-1731 676 42 another another PRON cblr-1731 676 43 without without ADP cblr-1731 676 44 taxes taxis NOUN cblr-1731 676 45 or or CCONJ cblr-1731 676 46 transaction transaction NOUN cblr-1731 676 47 fees.171 fees.171 VERB cblr-1731 676 48 the the DET cblr-1731 676 49 economic economic ADJ cblr-1731 676 50 value value NOUN cblr-1731 676 51 of of ADP cblr-1731 676 52 such such ADJ cblr-1731 676 53 commitments commitment NOUN cblr-1731 676 54 and and CCONJ cblr-1731 676 55 flexibility flexibility NOUN cblr-1731 676 56 is be AUX cblr-1731 676 57 not not PART cblr-1731 676 58 necessarily necessarily ADV cblr-1731 676 59 reflected reflect VERB cblr-1731 676 60 in in ADP cblr-1731 676 61 berkshire berkshire NOUN cblr-1731 676 62 ’s ’s PART cblr-1731 676 63 prevailing prevail VERB cblr-1731 676 64 stock stock NOUN cblr-1731 676 65 price price NOUN cblr-1731 676 66 or or CCONJ cblr-1731 676 67 the the DET cblr-1731 676 68 valuations valuation NOUN cblr-1731 676 69 of of ADP cblr-1731 676 70 individual individual ADJ cblr-1731 676 71 subsidiaries subsidiary NOUN cblr-1731 676 72 . . PUNCT cblr-1731 677 1 the the DET cblr-1731 677 2 premium premium NOUN cblr-1731 677 3 may may AUX cblr-1731 677 4 only only ADV cblr-1731 677 5 manifest manifest VERB cblr-1731 677 6 itself itself PRON cblr-1731 677 7 when when SCONJ cblr-1731 677 8 berkshire berkshire NOUN cblr-1731 677 9 makes make VERB cblr-1731 677 10 an an DET cblr-1731 677 11 acquisition acquisition NOUN cblr-1731 677 12 and and CCONJ cblr-1731 677 13 be be AUX cblr-1731 677 14 preserved preserve VERB cblr-1731 677 15 only only ADV cblr-1731 677 16 by by ADP cblr-1731 677 17 sustaining sustain VERB cblr-1731 677 18 the the DET cblr-1731 677 19 conglomerate conglomerate NOUN cblr-1731 677 20 . . PUNCT cblr-1731 678 1 beyond beyond ADP cblr-1731 678 2 the the DET cblr-1731 678 3 merits merit NOUN cblr-1731 678 4 of of ADP cblr-1731 678 5 such such DET cblr-1731 678 6 a a DET cblr-1731 678 7 debate debate NOUN cblr-1731 678 8 , , PUNCT cblr-1731 678 9 the the DET cblr-1731 678 10 defenses defense NOUN cblr-1731 678 11 available available ADJ cblr-1731 678 12 to to ADP cblr-1731 678 13 a a DET cblr-1731 678 14 corporation corporation NOUN cblr-1731 678 15 facing face VERB cblr-1731 678 16 such such ADJ cblr-1731 678 17 activism activism NOUN cblr-1731 678 18 will will AUX cblr-1731 678 19 assume assume VERB cblr-1731 678 20 some some DET cblr-1731 678 21 importance importance NOUN cblr-1731 678 22 , , PUNCT cblr-1731 678 23 meaning mean VERB cblr-1731 678 24 that that SCONJ cblr-1731 678 25 the the DET cblr-1731 678 26 berkshire berkshire NOUN cblr-1731 678 27 model model NOUN cblr-1731 678 28 may may AUX cblr-1731 678 29 also also ADV cblr-1731 678 30 offer offer VERB cblr-1731 678 31 lessons lesson NOUN cblr-1731 678 32 about about ADP cblr-1731 678 33 the the DET cblr-1731 678 34 market market NOUN cblr-1731 678 35 for for ADP cblr-1731 678 36 corporate corporate ADJ cblr-1731 678 37 control control NOUN cblr-1731 678 38 — — PUNCT cblr-1731 678 39 the the DET cblr-1731 678 40 world world NOUN cblr-1731 678 41 of of ADP cblr-1731 678 42 takeovers takeover NOUN cblr-1731 678 43 . . PUNCT cblr-1731 679 1 berkshire berkshire PROPN cblr-1731 679 2 ’s ’s PART cblr-1731 679 3 corporate corporate ADJ cblr-1731 679 4 governance governance NOUN cblr-1731 679 5 insulates insulate VERB cblr-1731 679 6 it it PRON cblr-1731 679 7 from from ADP cblr-1731 679 8 activist activist ADJ cblr-1731 679 9 shareholder shareholder NOUN cblr-1731 679 10 agitation agitation NOUN cblr-1731 679 11 , , PUNCT cblr-1731 679 12 starting start VERB cblr-1731 679 13 with with ADP cblr-1731 679 14 its its PRON cblr-1731 679 15 dual dual ADJ cblr-1731 679 16 class class NOUN cblr-1731 679 17 capital capital NOUN cblr-1731 679 18 structure structure NOUN cblr-1731 679 19 . . PUNCT cblr-1731 680 1 such such ADJ cblr-1731 680 2 structures structure NOUN cblr-1731 680 3 are be AUX cblr-1731 680 4 controversial controversial ADJ cblr-1731 680 5 if if SCONJ cblr-1731 680 6 adopted adopt VERB cblr-1731 680 7 as as ADP cblr-1731 680 8 a a DET cblr-1731 680 9 takeover takeover NOUN cblr-1731 680 10 defense defense NOUN cblr-1731 680 11 when when SCONJ cblr-1731 680 12 they they PRON cblr-1731 680 13 coerce coerce VERB cblr-1731 680 14 stockholders stockholder NOUN cblr-1731 680 15 to to PART cblr-1731 680 16 choose choose VERB cblr-1731 680 17 liquidity liquidity NOUN cblr-1731 680 18 in in ADP cblr-1731 680 19 exchange exchange NOUN cblr-1731 680 20 for for ADP cblr-1731 680 21 surrendering surrender VERB cblr-1731 680 22 control control NOUN cblr-1731 680 23 or or CCONJ cblr-1731 680 24 in in ADP cblr-1731 680 25 general general ADJ cblr-1731 680 26 because because SCONJ cblr-1731 680 27 of of ADP cblr-1731 680 28 the the DET cblr-1731 680 29 disparity disparity NOUN cblr-1731 680 30 between between ADP cblr-1731 680 31 economic economic ADJ cblr-1731 680 32 and and CCONJ cblr-1731 680 33 voting voting NOUN cblr-1731 680 34 rights right NOUN cblr-1731 680 35 . . 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PROPN cblr-1731 681 57 for for ADP cblr-1731 681 58 a a DET cblr-1731 681 59 taste taste NOUN cblr-1731 681 60 of of ADP cblr-1731 681 61 such such ADJ cblr-1731 681 62 advocacy advocacy NOUN cblr-1731 681 63 , , PUNCT cblr-1731 681 64 see see VERB cblr-1731 681 65 life life NOUN cblr-1731 681 66 after after ADP cblr-1731 681 67 warren warren PROPN cblr-1731 681 68 , , PUNCT cblr-1731 681 69 economist economist NOUN cblr-1731 681 70 ( ( PUNCT cblr-1731 681 71 apr apr PROPN cblr-1731 681 72 . . PROPN cblr-1731 681 73 26 26 NUM cblr-1731 681 74 , , PUNCT cblr-1731 681 75 2014 2014 NUM cblr-1731 681 76 ) ) PUNCT cblr-1731 681 77 , , PUNCT cblr-1731 681 78 http://www.economist.com/news/leaders/2160 http://www.economist.com/news/leaders/2160 PROPN cblr-1731 681 79 1255 1255 NUM cblr-1731 681 80 - - PUNCT cblr-1731 681 81 all all ADV cblr-1731 681 82 - - PUNCT cblr-1731 681 83 his his PRON cblr-1731 681 84 - - PUNCT cblr-1731 681 85 success success NOUN cblr-1731 681 86 - - PUNCT cblr-1731 681 87 building building NOUN cblr-1731 681 88 - - PUNCT cblr-1731 681 89 great great ADJ cblr-1731 681 90 - - PUNCT cblr-1731 681 91 corporation corporation NOUN cblr-1731 681 92 - - PUNCT cblr-1731 681 93 warren warren PROPN cblr-1731 681 94 - - PUNCT cblr-1731 681 95 buffett buffett PROPN cblr-1731 681 96 - - PUNCT cblr-1731 681 97 shouldnow shouldnow NOUN cblr-1731 681 98 - - PUNCT cblr-1731 681 99 contemplate contemplate NOUN cblr-1731 681 100 [ [ X cblr-1731 681 101 https://perma.cc/p2d5-jmn4 https://perma.cc/p2d5-jmn4 X cblr-1731 681 102 ] ] PUNCT cblr-1731 681 103 . . PUNCT cblr-1731 682 1 171 171 NUM cblr-1731 682 2 cunningham cunningham PROPN cblr-1731 682 3 , , PUNCT cblr-1731 682 4 berkshire berkshire NOUN cblr-1731 682 5 beyond beyond ADP cblr-1731 682 6 buffett buffett PROPN cblr-1731 682 7 , , PUNCT cblr-1731 682 8 supra supra PROPN cblr-1731 682 9 note note PROPN cblr-1731 682 10 6 6 NUM cblr-1731 682 11 , , PUNCT cblr-1731 682 12 at at ADP cblr-1731 682 13 195 195 NUM cblr-1731 682 14 – – SYM cblr-1731 682 15 96 96 NUM cblr-1731 682 16 , , PUNCT cblr-1731 682 17 218–20 218–20 NUM cblr-1731 682 18 . . PUNCT cblr-1731 682 19 172 172 NUM cblr-1731 682 20 see see VERB cblr-1731 682 21 robert robert PROPN cblr-1731 682 22 w. w. 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NOUN cblr-1731 683 6 1:1 1:1 NUM cblr-1731 683 7 ] ] PUNCT cblr-1731 683 8 berkshire berkshire PROPN cblr-1731 683 9 ’s ’s PART cblr-1731 683 10 blemishes blemish NOUN cblr-1731 683 11 57 57 NUM cblr-1731 683 12 owners owner NOUN cblr-1731 683 13 hold hold VERB cblr-1731 683 14 most most ADJ cblr-1731 683 15 of of ADP cblr-1731 683 16 their their PRON cblr-1731 683 17 stakes stake NOUN cblr-1731 683 18 — — PUNCT cblr-1731 683 19 command command VERB cblr-1731 683 20 a a DET cblr-1731 683 21 significant significant ADJ cblr-1731 683 22 multiple multiple NOUN cblr-1731 683 23 of of ADP cblr-1731 683 24 the the DET cblr-1731 683 25 vote vote NOUN cblr-1731 683 26 compared compare VERB cblr-1731 683 27 to to ADP cblr-1731 683 28 the the DET cblr-1731 683 29 class class NOUN cblr-1731 683 30 b b PROPN cblr-1731 683 31 shares.173 shares.173 NOUN cblr-1731 683 32 after after ADP cblr-1731 683 33 buffett buffett PROPN cblr-1731 683 34 ’s ’s PART cblr-1731 683 35 death death NOUN cblr-1731 683 36 , , PUNCT cblr-1731 683 37 his his PRON cblr-1731 683 38 bloc bloc NOUN cblr-1731 683 39 , , PUNCT cblr-1731 683 40 currently currently ADV cblr-1731 683 41 at at ADP cblr-1731 683 42 thirty thirty NUM cblr-1731 683 43 - - PUNCT cblr-1731 683 44 four four NUM cblr-1731 683 45 percent percent NOUN cblr-1731 683 46 of of ADP cblr-1731 683 47 the the DET cblr-1731 683 48 vote vote NOUN cblr-1731 683 49 , , PUNCT cblr-1731 683 50 will will AUX cblr-1731 683 51 be be AUX cblr-1731 683 52 gradually gradually ADV cblr-1731 683 53 sold sell VERB cblr-1731 683 54 over over ADP cblr-1731 683 55 as as ADV cblr-1731 683 56 many many ADJ cblr-1731 683 57 as as ADP cblr-1731 683 58 ten ten NUM cblr-1731 683 59 years year NOUN cblr-1731 683 60 , , PUNCT cblr-1731 683 61 providing provide VERB cblr-1731 683 62 his his PRON cblr-1731 683 63 legatees legatee NOUN cblr-1731 683 64 with with ADP cblr-1731 683 65 enduring endure VERB cblr-1731 683 66 though though ADV cblr-1731 683 67 incrementally incrementally ADV cblr-1731 683 68 waning wane VERB cblr-1731 683 69 control.174 control.174 PROPN cblr-1731 683 70 berkshire berkshire NOUN cblr-1731 683 71 ’s ’s PART cblr-1731 683 72 charter charter NOUN cblr-1731 683 73 provides provide VERB cblr-1731 683 74 for for ADP cblr-1731 683 75 the the DET cblr-1731 683 76 annual annual ADJ cblr-1731 683 77 election election NOUN cblr-1731 683 78 of of ADP cblr-1731 683 79 every every DET cblr-1731 683 80 board board NOUN cblr-1731 683 81 seat seat NOUN cblr-1731 683 82 , , PUNCT cblr-1731 683 83 making make VERB cblr-1731 683 84 it it PRON cblr-1731 683 85 theoretically theoretically ADV cblr-1731 683 86 possible possible ADJ cblr-1731 683 87 for for SCONJ cblr-1731 683 88 an an DET cblr-1731 683 89 insurgent insurgent NOUN cblr-1731 683 90 to to PART cblr-1731 683 91 gain gain VERB cblr-1731 683 92 control control NOUN cblr-1731 683 93 of of ADP cblr-1731 683 94 a a DET cblr-1731 683 95 majority majority NOUN cblr-1731 683 96 in in ADP cblr-1731 683 97 a a DET cblr-1731 683 98 single single ADJ cblr-1731 683 99 year year NOUN cblr-1731 683 100 . . PUNCT cblr-1731 684 1 to to PART cblr-1731 684 2 check check VERB cblr-1731 684 3 that that PRON cblr-1731 684 4 , , PUNCT cblr-1731 684 5 consideration consideration NOUN cblr-1731 684 6 might might AUX cblr-1731 684 7 be be AUX cblr-1731 684 8 given give VERB cblr-1731 684 9 now now ADV cblr-1731 684 10 to to ADP cblr-1731 684 11 amending amend VERB cblr-1731 684 12 the the DET cblr-1731 684 13 charter charter NOUN cblr-1731 684 14 , , PUNCT cblr-1731 684 15 by by ADP cblr-1731 684 16 board board NOUN cblr-1731 684 17 and and CCONJ cblr-1731 684 18 shareholder shareholder NOUN cblr-1731 684 19 vote vote NOUN cblr-1731 684 20 , , PUNCT cblr-1731 684 21 to to PART cblr-1731 684 22 opt opt VERB cblr-1731 684 23 for for ADP cblr-1731 684 24 a a DET cblr-1731 684 25 staggered staggered ADJ cblr-1731 684 26 board board NOUN cblr-1731 684 27 with with ADP cblr-1731 684 28 three three NUM cblr-1731 684 29 classes class NOUN cblr-1731 684 30 of of ADP cblr-1731 684 31 directors director NOUN cblr-1731 684 32 each each PRON cblr-1731 684 33 serving serve VERB cblr-1731 684 34 three three NUM cblr-1731 684 35 - - PUNCT cblr-1731 684 36 year year NOUN cblr-1731 684 37 terms term NOUN cblr-1731 684 38 . . PUNCT cblr-1731 685 1 that that PRON cblr-1731 685 2 would would AUX cblr-1731 685 3 promote promote VERB cblr-1731 685 4 continuity continuity NOUN cblr-1731 685 5 and and CCONJ cblr-1731 685 6 independence independence NOUN cblr-1731 685 7 while while SCONJ cblr-1731 685 8 demanding demand VERB cblr-1731 685 9 greater great ADJ cblr-1731 685 10 patience patience NOUN cblr-1731 685 11 from from ADP cblr-1731 685 12 activists activist NOUN cblr-1731 685 13 . . 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PUNCT cblr-1731 692 1 cunningham cunningham PROPN cblr-1731 692 2 – – PUNCT cblr-1731 692 3 final final ADJ cblr-1731 692 4 58 58 NUM cblr-1731 692 5 columbia columbia PROPN cblr-1731 692 6 business business NOUN cblr-1731 692 7 law law PROPN cblr-1731 692 8 review review NOUN cblr-1731 693 1 [ [ X cblr-1731 693 2 vol vol NOUN cblr-1731 693 3 . . PUNCT cblr-1731 693 4 2016 2016 NUM cblr-1731 693 5 d. d. PROPN cblr-1731 693 6 emulation emulation NOUN cblr-1731 693 7 many many ADJ cblr-1731 693 8 people people NOUN cblr-1731 693 9 are be AUX cblr-1731 693 10 interested interested ADJ cblr-1731 693 11 in in ADP cblr-1731 693 12 replicating replicate VERB cblr-1731 693 13 berkshire berkshire NOUN cblr-1731 693 14 hathaway hathaway PROPN cblr-1731 693 15 , , PUNCT cblr-1731 693 16 from from ADP cblr-1731 693 17 the the DET cblr-1731 693 18 current current ADJ cblr-1731 693 19 leadership leadership NOUN cblr-1731 693 20 of of ADP cblr-1731 693 21 google google PROPN cblr-1731 693 22 to to ADP cblr-1731 693 23 smaller small ADJ cblr-1731 693 24 insurance insurance NOUN cblr-1731 693 25 companies company NOUN cblr-1731 693 26 such such ADJ cblr-1731 693 27 as as ADP cblr-1731 693 28 markel markel PROPN cblr-1731 693 29 corporation corporation PROPN cblr-1731 693 30 , , PUNCT cblr-1731 693 31 which which PRON cblr-1731 693 32 has have AUX cblr-1731 693 33 consciously consciously ADV cblr-1731 693 34 mimicked mimic VERB cblr-1731 693 35 the the DET cblr-1731 693 36 model model NOUN cblr-1731 693 37 quite quite ADV cblr-1731 693 38 successfully successfully ADV cblr-1731 693 39 on on ADP cblr-1731 693 40 a a DET cblr-1731 693 41 lesser less ADJ cblr-1731 693 42 scale scale NOUN cblr-1731 693 43 . . PUNCT cblr-1731 694 1 many many ADJ cblr-1731 694 2 berkshire berkshire NOUN cblr-1731 694 3 subsidiaries subsidiary NOUN cblr-1731 694 4 are be AUX cblr-1731 694 5 themselves themselves PRON cblr-1731 694 6 conglomerates conglomerate NOUN cblr-1731 694 7 , , PUNCT cblr-1731 694 8 genuine genuine ADJ cblr-1731 694 9 mini mini NOUN cblr-1731 694 10 - - NOUN cblr-1731 694 11 berkshires berkshire NOUN cblr-1731 694 12 including include VERB cblr-1731 694 13 not not PART cblr-1731 694 14 only only ADV cblr-1731 694 15 marmon marmon PROPN cblr-1731 694 16 and and CCONJ cblr-1731 694 17 scott scott PROPN cblr-1731 694 18 fetzer fetzer PROPN cblr-1731 694 19 but but CCONJ cblr-1731 694 20 also also ADV cblr-1731 694 21 berkshire berkshire PROPN cblr-1731 694 22 hathaway hathaway PROPN cblr-1731 694 23 energy energy PROPN cblr-1731 694 24 , , PUNCT cblr-1731 694 25 mitek mitek NOUN cblr-1731 694 26 , , PUNCT cblr-1731 694 27 and and CCONJ cblr-1731 694 28 precision precision NOUN cblr-1731 694 29 castparts castpart NOUN cblr-1731 694 30 . . PUNCT cblr-1731 695 1 business business NOUN cblr-1731 695 2 people people NOUN cblr-1731 695 3 dream dream NOUN cblr-1731 695 4 of of ADP cblr-1731 695 5 creating create VERB cblr-1731 695 6 conglomerates conglomerate NOUN cblr-1731 695 7 in in ADP cblr-1731 695 8 berkshire berkshire NOUN cblr-1731 695 9 ’s ’s PART cblr-1731 695 10 image image NOUN cblr-1731 695 11 in in ADP cblr-1731 695 12 much much ADV cblr-1731 695 13 the the DET cblr-1731 695 14 same same ADJ cblr-1731 695 15 way way NOUN cblr-1731 695 16 proverbial proverbial ADJ cblr-1731 695 17 literary literary ADJ cblr-1731 695 18 types type NOUN cblr-1731 695 19 want want VERB cblr-1731 695 20 to to PART cblr-1731 695 21 write write VERB cblr-1731 695 22 the the DET cblr-1731 695 23 next next ADJ cblr-1731 695 24 best well ADV cblr-1731 695 25 - - PUNCT cblr-1731 695 26 selling sell VERB cblr-1731 695 27 novel novel NOUN cblr-1731 695 28 . . PUNCT cblr-1731 696 1 and and CCONJ cblr-1731 696 2 it it PRON cblr-1731 696 3 can can AUX cblr-1731 696 4 be be AUX cblr-1731 696 5 done do VERB cblr-1731 696 6 , , PUNCT cblr-1731 696 7 if if SCONJ cblr-1731 696 8 not not PART cblr-1731 696 9 on on ADP cblr-1731 696 10 the the DET cblr-1731 696 11 same same ADJ cblr-1731 696 12 scale scale NOUN cblr-1731 696 13 or or CCONJ cblr-1731 696 14 to to ADP cblr-1731 696 15 the the DET cblr-1731 696 16 same same ADJ cblr-1731 696 17 degree degree NOUN cblr-1731 696 18 . . PUNCT cblr-1731 697 1 more more ADV cblr-1731 697 2 modest modest ADJ cblr-1731 697 3 aspirations aspiration NOUN cblr-1731 697 4 would would AUX cblr-1731 697 5 emulate emulate VERB cblr-1731 697 6 some some PRON cblr-1731 697 7 of of ADP cblr-1731 697 8 berkshire berkshire NOUN cblr-1731 697 9 ’s ’s PART cblr-1731 697 10 principles principle NOUN cblr-1731 697 11 and and CCONJ cblr-1731 697 12 practices practice NOUN cblr-1731 697 13 , , PUNCT cblr-1731 697 14 especially especially ADV cblr-1731 697 15 those those PRON cblr-1731 697 16 of of ADP cblr-1731 697 17 autonomy autonomy NOUN cblr-1731 697 18 , , PUNCT cblr-1731 697 19 decentralization decentralization NOUN cblr-1731 697 20 , , PUNCT cblr-1731 697 21 permanence permanence NOUN cblr-1731 697 22 , , PUNCT cblr-1731 697 23 self self NOUN cblr-1731 697 24 - - PUNCT cblr-1731 697 25 reliance reliance NOUN cblr-1731 697 26 , , PUNCT cblr-1731 697 27 and and CCONJ cblr-1731 697 28 trust trust NOUN cblr-1731 697 29 . . PUNCT cblr-1731 698 1 adapting adapt VERB cblr-1731 698 2 the the DET cblr-1731 698 3 berkshire berkshire NOUN cblr-1731 698 4 model model NOUN cblr-1731 698 5 can can AUX cblr-1731 698 6 create create VERB cblr-1731 698 7 a a DET cblr-1731 698 8 competitive competitive ADJ cblr-1731 698 9 advantage advantage NOUN cblr-1731 698 10 versus versus ADP cblr-1731 698 11 rivals rival NOUN cblr-1731 698 12 in in ADP cblr-1731 698 13 the the DET cblr-1731 698 14 acquisition acquisition NOUN cblr-1731 698 15 market market NOUN cblr-1731 698 16 , , PUNCT cblr-1731 698 17 from from ADP cblr-1731 698 18 strategic strategic ADJ cblr-1731 698 19 buyers buyer NOUN cblr-1731 698 20 to to ADP cblr-1731 698 21 private private ADJ cblr-1731 698 22 equity equity NOUN cblr-1731 698 23 firms firm NOUN cblr-1731 698 24 . . PUNCT cblr-1731 699 1 ge ge PROPN cblr-1731 699 2 , , PUNCT cblr-1731 699 3 for for ADP cblr-1731 699 4 example example NOUN cblr-1731 699 5 , , PUNCT cblr-1731 699 6 can can AUX cblr-1731 699 7 not not PART cblr-1731 699 8 offer offer VERB cblr-1731 699 9 autonomy autonomy NOUN cblr-1731 699 10 or or CCONJ cblr-1731 699 11 permanence permanence NOUN cblr-1731 699 12 . . PUNCT cblr-1731 700 1 it it PRON cblr-1731 700 2 is be AUX cblr-1731 700 3 very very ADV cblr-1731 700 4 acquisitive acquisitive ADJ cblr-1731 700 5 , , PUNCT cblr-1731 700 6 but but CCONJ cblr-1731 700 7 nearly nearly ADV cblr-1731 700 8 as as ADP cblr-1731 700 9 prone prone ADJ cblr-1731 700 10 to to ADP cblr-1731 700 11 divestitures divestiture NOUN cblr-1731 700 12 — — PUNCT cblr-1731 700 13 former former ADJ cblr-1731 700 14 ceo ceo NOUN cblr-1731 700 15 jack jack PROPN cblr-1731 700 16 welch welch PROPN cblr-1731 700 17 became become VERB cblr-1731 700 18 famous famous ADJ cblr-1731 700 19 for for ADP cblr-1731 700 20 closing closing NOUN cblr-1731 700 21 or or CCONJ cblr-1731 700 22 selling sell VERB cblr-1731 700 23 any any DET cblr-1731 700 24 subsidiary subsidiary NOUN cblr-1731 700 25 that that PRON cblr-1731 700 26 failed fail VERB cblr-1731 700 27 to to PART cblr-1731 700 28 lead lead VERB cblr-1731 700 29 its its PRON cblr-1731 700 30 industry industry NOUN cblr-1731 700 31 and and CCONJ cblr-1731 700 32 jeff jeff PROPN cblr-1731 700 33 immelt immelt PROPN cblr-1731 700 34 executed execute VERB cblr-1731 700 35 a a DET cblr-1731 700 36 significant significant ADJ cblr-1731 700 37 divestiture divestiture NOUN cblr-1731 700 38 program program NOUN cblr-1731 700 39 . . PUNCT cblr-1731 701 1 private private ADJ cblr-1731 701 2 equity equity NOUN cblr-1731 701 3 firms firm NOUN cblr-1731 701 4 are be AUX cblr-1731 701 5 interventionist interventionist ADJ cblr-1731 701 6 by by ADP cblr-1731 701 7 strategy strategy NOUN cblr-1731 701 8 and and CCONJ cblr-1731 701 9 short short ADJ cblr-1731 701 10 - - PUNCT cblr-1731 701 11 term term NOUN cblr-1731 701 12 by by ADP cblr-1731 701 13 design design NOUN cblr-1731 701 14 . . PUNCT cblr-1731 702 1 they they PRON cblr-1731 702 2 create create VERB cblr-1731 702 3 funds fund NOUN cblr-1731 702 4 with with ADP cblr-1731 702 5 ten ten NUM cblr-1731 702 6 - - PUNCT cblr-1731 702 7 year year NOUN cblr-1731 702 8 lives life NOUN cblr-1731 702 9 ( ( PUNCT cblr-1731 702 10 five five NUM cblr-1731 702 11 to to PART cblr-1731 702 12 sow sow VERB cblr-1731 702 13 then then ADV cblr-1731 702 14 five five NUM cblr-1731 702 15 to to PART cblr-1731 702 16 reap reap VERB cblr-1731 702 17 ) ) PUNCT cblr-1731 702 18 and and CCONJ cblr-1731 702 19 immediately immediately ADV cblr-1731 702 20 alter alter VERB cblr-1731 702 21 target target NOUN cblr-1731 702 22 managers manager NOUN cblr-1731 702 23 , , PUNCT cblr-1731 702 24 cultures culture NOUN cblr-1731 702 25 , , PUNCT cblr-1731 702 26 workforces workforce NOUN cblr-1731 702 27 , , PUNCT cblr-1731 702 28 and and CCONJ cblr-1731 702 29 production production NOUN cblr-1731 702 30 facilities facility NOUN cblr-1731 702 31 to to PART cblr-1731 702 32 prepare prepare VERB cblr-1731 702 33 the the DET cblr-1731 702 34 company company NOUN cblr-1731 702 35 for for ADP cblr-1731 702 36 resale.177 resale.177 NOUN cblr-1731 702 37 above above ADP cblr-1731 702 38 all all PRON cblr-1731 702 39 and and CCONJ cblr-1731 702 40 for for ADP cblr-1731 702 41 every every DET cblr-1731 702 42 public public ADJ cblr-1731 702 43 company company NOUN cblr-1731 702 44 , , PUNCT cblr-1731 702 45 the the DET cblr-1731 702 46 most most ADV cblr-1731 702 47 important important ADJ cblr-1731 702 48 lesson lesson NOUN cblr-1731 702 49 from from ADP cblr-1731 702 50 berkshire berkshire NOUN cblr-1731 702 51 is be AUX cblr-1731 702 52 the the DET cblr-1731 702 53 value value NOUN cblr-1731 702 54 of of ADP cblr-1731 702 55 a a DET cblr-1731 702 56 long long ADJ cblr-1731 702 57 - - PUNCT cblr-1731 702 58 term term NOUN cblr-1731 702 59 outlook outlook NOUN cblr-1731 702 60 . . PUNCT cblr-1731 703 1 when when SCONJ cblr-1731 703 2 public public ADJ cblr-1731 703 3 company company NOUN cblr-1731 703 4 managers manager NOUN cblr-1731 703 5 are be AUX cblr-1731 703 6 hounded hound VERB cblr-1731 703 7 by by ADP cblr-1731 703 8 analysts analyst NOUN cblr-1731 703 9 and and CCONJ cblr-1731 703 10 activist activist ADJ cblr-1731 703 11 shareholders shareholder NOUN cblr-1731 703 12 about about ADP cblr-1731 703 13 results result NOUN cblr-1731 703 14 in in ADP cblr-1731 703 15 the the DET cblr-1731 703 16 current current ADJ cblr-1731 703 17 quarter quarter NOUN cblr-1731 703 18 and and CCONJ cblr-1731 703 19 year year NOUN cblr-1731 703 20 - - PUNCT cblr-1731 703 21 to to ADP cblr-1731 703 22 - - PUNCT cblr-1731 703 23 date date NOUN cblr-1731 703 24 , , PUNCT cblr-1731 703 25 the the DET cblr-1731 703 26 pressure pressure NOUN cblr-1731 703 27 to to PART cblr-1731 703 28 focus focus VERB cblr-1731 703 29 on on ADP cblr-1731 703 30 the the DET cblr-1731 703 31 short short ADJ cblr-1731 703 32 - - PUNCT cblr-1731 703 33 term term NOUN cblr-1731 703 34 is be AUX cblr-1731 703 35 intense intense ADJ cblr-1731 703 36 . . PUNCT cblr-1731 704 1 cutting cut VERB cblr-1731 704 2 costs cost NOUN cblr-1731 704 3 today today NOUN cblr-1731 704 4 and and CCONJ cblr-1731 704 5 177 177 NUM cblr-1731 704 6 see see NOUN cblr-1731 704 7 , , PUNCT cblr-1731 704 8 e.g. e.g. ADV cblr-1731 704 9 , , PUNCT cblr-1731 704 10 david david PROPN cblr-1731 704 11 carey carey PROPN cblr-1731 704 12 & & CCONJ cblr-1731 704 13 john john PROPN cblr-1731 704 14 e. e. PROPN cblr-1731 704 15 morris morris PROPN cblr-1731 704 16 , , PUNCT cblr-1731 704 17 king king NOUN cblr-1731 704 18 of of ADP cblr-1731 704 19 capital capital NOUN cblr-1731 704 20 : : PUNCT cblr-1731 704 21 the the DET cblr-1731 704 22 remarkable remarkable ADJ cblr-1731 704 23 rise rise NOUN cblr-1731 704 24 , , PUNCT cblr-1731 704 25 fall fall NOUN cblr-1731 704 26 , , PUNCT cblr-1731 704 27 and and CCONJ cblr-1731 704 28 rise rise VERB cblr-1731 704 29 again again ADV cblr-1731 704 30 of of ADP cblr-1731 704 31 steve steve PROPN cblr-1731 704 32 schwarzman schwarzman PROPN cblr-1731 704 33 and and CCONJ cblr-1731 704 34 blackstone blackstone NOUN cblr-1731 704 35 ( ( PUNCT cblr-1731 704 36 2010 2010 NUM cblr-1731 704 37 ) ) PUNCT cblr-1731 704 38 . . PUNCT cblr-1731 705 1 cunningham cunningham PROPN cblr-1731 705 2 – – PUNCT cblr-1731 705 3 final final ADJ cblr-1731 705 4 no no NOUN cblr-1731 705 5 . . NOUN cblr-1731 705 6 1:1 1:1 NUM cblr-1731 705 7 ] ] PUNCT cblr-1731 705 8 berkshire berkshire PROPN cblr-1731 705 9 ’s ’s PART cblr-1731 705 10 blemishes blemish NOUN cblr-1731 705 11 59 59 NUM cblr-1731 705 12 maximizing maximize VERB cblr-1731 705 13 revenue revenue NOUN cblr-1731 705 14 now now ADV cblr-1731 705 15 easily easily ADV cblr-1731 705 16 entail entail VERB cblr-1731 705 17 a a DET cblr-1731 705 18 sacrifice sacrifice NOUN cblr-1731 705 19 in in ADP cblr-1731 705 20 future future ADJ cblr-1731 705 21 economic economic ADJ cblr-1731 705 22 gain gain NOUN cblr-1731 705 23 . . PUNCT cblr-1731 706 1 the the DET cblr-1731 706 2 gains gain NOUN cblr-1731 706 3 from from ADP cblr-1731 706 4 withstanding withstand VERB cblr-1731 706 5 short short ADJ cblr-1731 706 6 - - PUNCT cblr-1731 706 7 term term NOUN cblr-1731 706 8 pressure pressure NOUN cblr-1731 706 9 to to PART cblr-1731 706 10 focus focus VERB cblr-1731 706 11 on on ADP cblr-1731 706 12 results result NOUN cblr-1731 706 13 over over ADP cblr-1731 706 14 the the DET cblr-1731 706 15 coming come VERB cblr-1731 706 16 several several ADJ cblr-1731 706 17 years year NOUN cblr-1731 706 18 compound compound VERB cblr-1731 706 19 over over ADP cblr-1731 706 20 time time NOUN cblr-1731 706 21 . . PUNCT cblr-1731 707 1 the the DET cblr-1731 707 2 best good ADJ cblr-1731 707 3 emulators emulator NOUN cblr-1731 707 4 of of ADP cblr-1731 707 5 berkshire berkshire NOUN cblr-1731 707 6 are be AUX cblr-1731 707 7 companies company NOUN cblr-1731 707 8 and and CCONJ cblr-1731 707 9 managers manager NOUN cblr-1731 707 10 who who PRON cblr-1731 707 11 earn earn VERB cblr-1731 707 12 reputations reputation NOUN cblr-1731 707 13 for for ADP cblr-1731 707 14 serious serious ADJ cblr-1731 707 15 long long ADJ cblr-1731 707 16 - - PUNCT cblr-1731 707 17 term term NOUN cblr-1731 707 18 focus focus NOUN cblr-1731 707 19 by by ADP cblr-1731 707 20 achieving achieve VERB cblr-1731 707 21 high high ADJ cblr-1731 707 22 average average ADJ cblr-1731 707 23 annual annual ADJ cblr-1731 707 24 returns return NOUN cblr-1731 707 25 over over ADP cblr-1731 707 26 rolling roll VERB cblr-1731 707 27 periods period NOUN cblr-1731 707 28 of of ADP cblr-1731 707 29 five five NUM cblr-1731 707 30 and and CCONJ cblr-1731 707 31 ten ten NUM cblr-1731 707 32 years year NOUN cblr-1731 707 33 . . PUNCT cblr-1731 708 1 that that PRON cblr-1731 708 2 can can AUX cblr-1731 708 3 be be AUX cblr-1731 708 4 done do VERB cblr-1731 708 5 in in ADP cblr-1731 708 6 many many ADJ cblr-1731 708 7 different different ADJ cblr-1731 708 8 ways way NOUN cblr-1731 708 9 , , PUNCT cblr-1731 708 10 using use VERB cblr-1731 708 11 a a DET cblr-1731 708 12 variety variety NOUN cblr-1731 708 13 of of ADP cblr-1731 708 14 board board NOUN cblr-1731 708 15 structures structure NOUN cblr-1731 708 16 , , PUNCT cblr-1731 708 17 management management NOUN cblr-1731 708 18 techniques technique NOUN cblr-1731 708 19 , , PUNCT cblr-1731 708 20 and and CCONJ cblr-1731 708 21 corporate corporate ADJ cblr-1731 708 22 cultures culture NOUN cblr-1731 708 23 — — PUNCT cblr-1731 708 24 all all PRON cblr-1731 708 25 of of ADP cblr-1731 708 26 which which PRON cblr-1731 708 27 have have VERB cblr-1731 708 28 costs cost NOUN cblr-1731 708 29 as as ADV cblr-1731 708 30 well well ADV cblr-1731 708 31 as as ADP cblr-1731 708 32 benefits benefit NOUN cblr-1731 708 33 and and CCONJ cblr-1731 708 34 of of ADP cblr-1731 708 35 which which PRON cblr-1731 708 36 many many ADJ cblr-1731 708 37 varieties variety NOUN cblr-1731 708 38 should should AUX cblr-1731 708 39 be be AUX cblr-1731 708 40 allowed allow VERB cblr-1731 708 41 to to PART cblr-1731 708 42 flourish flourish VERB cblr-1731 708 43 . . PUNCT cblr-1731 709 1 iv iv X cblr-1731 709 2 . . PUNCT cblr-1731 710 1 conclusion conclusion NOUN cblr-1731 710 2 people people NOUN cblr-1731 710 3 often often ADV cblr-1731 710 4 say say VERB cblr-1731 710 5 one one NUM cblr-1731 710 6 ’s ’s PART cblr-1731 710 7 best good ADJ cblr-1731 710 8 quality quality NOUN cblr-1731 710 9 is be AUX cblr-1731 710 10 also also ADV cblr-1731 710 11 one one NUM cblr-1731 710 12 ’s ’s PART cblr-1731 710 13 worst bad ADJ cblr-1731 710 14 quality quality NOUN cblr-1731 710 15 and and CCONJ cblr-1731 710 16 the the DET cblr-1731 710 17 same same ADJ cblr-1731 710 18 goes go VERB cblr-1731 710 19 for for ADP cblr-1731 710 20 buffett buffett PROPN cblr-1731 710 21 and and CCONJ cblr-1731 710 22 the the DET cblr-1731 710 23 berkshire berkshire PROPN cblr-1731 710 24 model model NOUN cblr-1731 710 25 he he PRON cblr-1731 710 26 minted mint VERB cblr-1731 710 27 . . PUNCT cblr-1731 711 1 it it PRON cblr-1731 711 2 has have AUX cblr-1731 711 3 been be AUX cblr-1731 711 4 a a DET cblr-1731 711 5 huge huge ADJ cblr-1731 711 6 plus plus NOUN cblr-1731 711 7 for for SCONJ cblr-1731 711 8 him he PRON cblr-1731 711 9 to to PART cblr-1731 711 10 control control VERB cblr-1731 711 11 investments investment NOUN cblr-1731 711 12 and and CCONJ cblr-1731 711 13 acquisitions acquisition NOUN cblr-1731 711 14 , , PUNCT cblr-1731 711 15 hire hire VERB cblr-1731 711 16 managers manager NOUN cblr-1731 711 17 and and CCONJ cblr-1731 711 18 give give VERB cblr-1731 711 19 them they PRON cblr-1731 711 20 autonomy autonomy NOUN cblr-1731 711 21 in in ADP cblr-1731 711 22 a a DET cblr-1731 711 23 decentralized decentralized ADJ cblr-1731 711 24 structure structure NOUN cblr-1731 711 25 — — PUNCT cblr-1731 711 26 and and CCONJ cblr-1731 711 27 those those PRON cblr-1731 711 28 are be AUX cblr-1731 711 29 the the DET cblr-1731 711 30 source source NOUN cblr-1731 711 31 of of ADP cblr-1731 711 32 substantially substantially ADV cblr-1731 711 33 all all DET cblr-1731 711 34 the the DET cblr-1731 711 35 costs cost NOUN cblr-1731 711 36 of of ADP cblr-1731 711 37 the the DET cblr-1731 711 38 berkshire berkshire NOUN cblr-1731 711 39 model model NOUN cblr-1731 711 40 as as ADV cblr-1731 711 41 well well ADV cblr-1731 711 42 . . PUNCT cblr-1731 712 1 for for ADP cblr-1731 712 2 others other NOUN cblr-1731 712 3 certainly certainly ADV cblr-1731 712 4 , , PUNCT cblr-1731 712 5 and and CCONJ cblr-1731 712 6 maybe maybe ADV cblr-1731 712 7 even even ADV cblr-1731 712 8 for for ADP cblr-1731 712 9 buffett buffett NOUN cblr-1731 712 10 , , PUNCT cblr-1731 712 11 easing ease VERB cblr-1731 712 12 up up ADP cblr-1731 712 13 on on ADP cblr-1731 712 14 the the DET cblr-1731 712 15 model model NOUN cblr-1731 712 16 in in ADP cblr-1731 712 17 favor favor NOUN cblr-1731 712 18 of of ADP cblr-1731 712 19 a a DET cblr-1731 712 20 degree degree NOUN cblr-1731 712 21 of of ADP cblr-1731 712 22 the the DET cblr-1731 712 23 more more ADV cblr-1731 712 24 conventional conventional ADJ cblr-1731 712 25 approaches approach NOUN cblr-1731 712 26 might might AUX cblr-1731 712 27 reduce reduce VERB cblr-1731 712 28 some some DET cblr-1731 712 29 costs cost NOUN cblr-1731 712 30 while while SCONJ cblr-1731 712 31 sacrificing sacrifice VERB cblr-1731 712 32 less less ADJ cblr-1731 712 33 in in ADP cblr-1731 712 34 the the DET cblr-1731 712 35 way way NOUN cblr-1731 712 36 of of ADP cblr-1731 712 37 gains gain NOUN cblr-1731 712 38 . . PUNCT cblr-1731 713 1 there there PRON cblr-1731 713 2 is be VERB cblr-1731 713 3 no no DET cblr-1731 713 4 reason reason NOUN cblr-1731 713 5 to to ADP cblr-1731 713 6 second second ADJ cblr-1731 713 7 - - PUNCT cblr-1731 713 8 guess guess NOUN cblr-1731 713 9 buffett buffett NOUN cblr-1731 713 10 but but CCONJ cblr-1731 713 11 every every DET cblr-1731 713 12 reason reason NOUN cblr-1731 713 13 to to PART cblr-1731 713 14 believe believe VERB cblr-1731 713 15 that that SCONJ cblr-1731 713 16 his his PRON cblr-1731 713 17 successors successor NOUN cblr-1731 713 18 will will AUX cblr-1731 713 19 be be AUX cblr-1731 713 20 drawn draw VERB cblr-1731 713 21 to to ADP cblr-1731 713 22 making make VERB cblr-1731 713 23 some some DET cblr-1731 713 24 adjustments adjustment NOUN cblr-1731 713 25 . . PUNCT cblr-1731 714 1 but but CCONJ cblr-1731 714 2 berkshire berkshire NOUN cblr-1731 714 3 and and CCONJ cblr-1731 714 4 other other ADJ cblr-1731 714 5 companies company NOUN cblr-1731 714 6 should should AUX cblr-1731 714 7 be be AUX cblr-1731 714 8 permitted permit VERB cblr-1731 714 9 to to PART cblr-1731 714 10 devise devise VERB cblr-1731 714 11 the the DET cblr-1731 714 12 governance governance NOUN cblr-1731 714 13 and and CCONJ cblr-1731 714 14 organizational organizational ADJ cblr-1731 714 15 structures structure NOUN cblr-1731 714 16 that that PRON cblr-1731 714 17 work work VERB cblr-1731 714 18 for for ADP cblr-1731 714 19 them they PRON cblr-1731 714 20 , , PUNCT cblr-1731 714 21 whether whether SCONJ cblr-1731 714 22 the the DET cblr-1731 714 23 advisory advisory ADJ cblr-1731 714 24 or or CCONJ cblr-1731 714 25 monitoring monitoring NOUN cblr-1731 714 26 board board NOUN cblr-1731 714 27 , , PUNCT cblr-1731 714 28 powerful powerful ADJ cblr-1731 714 29 or or CCONJ cblr-1731 714 30 constrained constrained ADJ cblr-1731 714 31 executives executive NOUN cblr-1731 714 32 , , PUNCT cblr-1731 714 33 trust trust NOUN cblr-1731 714 34 or or CCONJ cblr-1731 714 35 control control NOUN cblr-1731 714 36 based base VERB cblr-1731 714 37 cultures culture NOUN cblr-1731 714 38 , , PUNCT cblr-1731 714 39 and and CCONJ cblr-1731 714 40 concentrated concentrated ADJ cblr-1731 714 41 or or CCONJ cblr-1731 714 42 diversified diversified ADJ cblr-1731 714 43 business business NOUN cblr-1731 714 44 organizations organization NOUN cblr-1731 714 45 . . PUNCT cblr-1731 715 1 while while SCONJ cblr-1731 715 2 even even ADV cblr-1731 715 3 berkshire berkshire PROPN cblr-1731 715 4 can can AUX cblr-1731 715 5 improve improve VERB cblr-1731 715 6 , , PUNCT cblr-1731 715 7 it it PRON cblr-1731 715 8 shows show VERB cblr-1731 715 9 that that SCONJ cblr-1731 715 10 , , PUNCT cblr-1731 715 11 warts wart NOUN cblr-1731 715 12 and and CCONJ cblr-1731 715 13 all all PRON cblr-1731 715 14 , , PUNCT cblr-1731 715 15 the the DET cblr-1731 715 16 conventional conventional ADJ cblr-1731 715 17 wisdom wisdom NOUN cblr-1731 715 18 in in ADP cblr-1731 715 19 corporate corporate ADJ cblr-1731 715 20 governance governance NOUN cblr-1731 715 21 and and CCONJ cblr-1731 715 22 practice practice NOUN cblr-1731 715 23 is be AUX cblr-1731 715 24 not not PART cblr-1731 715 25 always always ADV cblr-1731 715 26 efficient efficient ADJ cblr-1731 715 27 or or CCONJ cblr-1731 715 28 wise wise ADJ cblr-1731 715 29 . . PUNCT