Mr. Buffett used his letter to crack jokes and issue more of his trademark aphorisms. The so-called Sage of Omaha, he is America’s most listened-to investor, and his annual letter is watched closely by investors for his assessment of his businesses and of the economy.

It has, however, taken on somewhat less importance in recent years as Mr. Buffett, 79, has raised his profile with more public speaking and interviews.

In characteristically blunt terms, he had harsh words for unnamed chief executives and directors who oversaw disasters at their companies during the crisis but “still live in a grand style.”

 

The Federal Government is hoping the change of minister from Peter Garrett to Greg Combet will get its home insulation scheme back on track.

The industry is in free fall and Mr Combet's first task is to complete the package of assistance the Government hopes to offer soon to insulation businesses.

He is also now running all the Government's energy efficiency schemes including solar, green loans and insulation.

Prime Minister Kevin Rudd says Mr Combet is highly competent.

From the BBC

The police say they have identified 15 more suspects - using British, French, Irish and Australian documents - over the killing, taking the total to 26.

Mr Rudd said Canberra would retaliate against any country found to be involved in forging its passports.

He said that Australia would first try to establish the facts, but that this was not "a minor matter."

read more at the BBC

----------------------------

from the BBC

A day-long televised healthcare summit in Washington hosted by President Barack Obama has ended without a deal to break the deadlock between parties.

Mr Obama outlined his reform plan but Republicans said it was not acceptable and called for a fresh start.

The president and his allies want to expand health coverage to include millions of uninsured Americans.

Republican Senate minority leader Mitch McConnell said he was "discouraged by the outcome" of the summit.

From the BBC

Israeli opposition leader Tzipi Livni has applauded the controversial killing of a Hamas commander in a Dubai hotel by suspected Israeli agents.

"The fact that a terrorist was killed, and it doesn't matter if it was in Dubai or Gaza, is good news to those fighting terrorism," she said.

It is thought to be the first time a top Israeli has made such a comment.

Mahmoud al-Mabhouh was found dead in his room on 20 January, having been electrocuted and suffocated.

---------------------

from the New York TimesGates Calls European Mood a Danger to Peace

By BRIAN KNOWLTON

from the ABC

The Federal Opposition Leader Tony Abbott says the recent attacks on Indian students in Melbourne show the city's streets are not safe and need better policing.

The Federal Government is reportedly paying for 25 Indian journalists to visit Australia.

But Mr Abbott says that money would be better spent on law enforcement.

There was something suspicious about the official triumphalism behind the announcement of the capture of the "Taliban's No 2", Mullah Abdul Ghani Baradar, in Karachi earlier this week in a "joint CIA and Pakistan intelligence operation". Now suspicions are growing across the region that this may have been one of the biggest double-crosses at a high level in the long and tangled wars afflicting Afghanistan and Pakistan.

The Israeli Air Force has introduced a fleet of pilotless aircraft that can stay in the air for nearly a day and fly as far as the Gulf.

The Eitan drones, which have a wingspan of 86ft (26m), are the size of Boeing 737 passenger jets.

They can reach an altitude of more than 40,000ft (12,000m) and fly for more than 20 consecutive hours.

Stop me if you think you've heard this one before

 

ANTHONY ACKROYD

For a hard-working comedian, hearing someone else ripping off your material is no laughing matter - and the internet doesn't help, writes Anthony Ackroyd.

from the ABC

The BBC has been accused of having a "total sense of humour failure" after banning its political editor, Nick Robinson, and other senior journalists such as Huw Edwards and George Alagiah from taking part in one of the corporation's own entertainment television programmes.

From Robert Fisk

from John Pilger

Why are so many films so bad? This year's Oscar nominations are a parade of propaganda, stereotypes and downright dishonesty. The dominant theme is as old as Hollywood: America's divine right to invade other societies, steal their history and occupy our memory. When will directors and writers behave like artists and not pimps for a world view devoted to control and destruction?

read more of John Pilger...

-------------------

Abbott remarks draw Salvos' fire

The Salvation Army says it is worried by comments by Federal Opposition Leader Tony Abbott that homelessness can be a choice for some people.

Mr Abbott made the comments to a meeting of social service providers last week.

Major David Eldridge from the Salvation Army says he hopes Mr Abbott was not trying to politicise the issue.