NEWS
An Urban's Rural View
Urban C. Lehner Editor Emeritus
Mon Mar 9, 2015 06:25 AM CDT

When a 91-year-old vice chairman names the finalists to succeed an 84-year-old chief executive officer, people notice. That's especially true when the octogenarian CEO is Warren Buffett, the Oracle of Omaha, and the nonagenarian vice chairman is Charlie Munger, Buffett's sidekick at the helm of the sprawling conglomerate Berkshire Hathaway.

In a "next 50 years" letter in Berkshire's 2014 annual report (http://tiny.cc/…), Munger gave the world a story, quickly dubbed the "Jain and Abel" story. Ajit Jain is Berkshire's top insurance executive, Greg Abel its top energy executive. Talking of possible CEO successors, Munger praised both as "world-leading." ...

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