inthefootnotestoourattachedfinancialstatements.Moreover,shareholdersofBerkshire
HathawayInc.areurgedtoobtainthecurrentandsubsequentannualreportsofBlueChip
StampsbyrequestingthemfromMr.RobertH.Bird,Secretary,BlueChipStamps,5801
SouthEasternAvenue,LosAngeles,California90040.
Miscellaneous
K&WProductshasperformedwellinitsfirstyearasasubsidiaryofBerkshireHathaway
Inc.Bothsalesandearningswereupmoderatelyover1975.
Wehavelessthanfouryearsremainingtocomplywithrequirementthatourbankbe
divestedbyDecember31,1980.Weintendtoaccomplishsuchadivestitureinamanner
thatminimizesdisruptiontothebankandproducesgoodresultsforourshareholders.
Mostprobablythiswillinvolveaspin-offofbanksharesin1980.
WealsohopeatsomepointtomergewithDiversifiedRetailingCompany,Inc.Both
corporatesimplificationandenhancedownershippositioninBlueChipStampswouldbe
benefitsofsuchamerger.However,itisunlikelythatanythingwillbeproposedinthis
regardduring1977.
WarrenE.Buffett,Chairman
March21,1977 |
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