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September 18, 1992|From Times Staff and Wire Reports

Buffett Gives Up Vote: General Dynamics Corp. announced that Omaha investor Warren Buffett had handed over his voting rights in the Falls Church, Va.-based defense contractor to the company's top management. Buffett became the largest single stockholder in General Dynamics in July when his Berkshire Hathaway Inc. purchased a 15% interest in it. The move, which allows General Dynamics officials to cast Berkshire Hathaway's votes in matters before stockholders, tightens management's already firm grip over the company, sources said. Buffett was unavailable for comment. General Dynamics shares closed Thursday at $81.12 1/2 a share, up $1.87 1/2, the highest level reached since March 1985.

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