And, keep an eye on shares of General Dynamics (GD) today.

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So Chabraja, who sits on the board and has much of his wealth tied up in GD stock, appears to have played a key part in getting the succession process rolling.

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The marine unit contains three shipyards focused on separate segments of the naval ship construction business, and in each of those segments GD is the dominant, most respected player.

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At the closing bell, GD is up about 1%, while VIAB is off about 0.5% on the day Wednesday.

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While Buffett was speaking in generalities, it got me wondering how ADM, GD, and EXC stacked up against my Buffett-inspired Guru Strategy, which is based on the approach Buffett used to build his empire (a strategy that Mary Buffett, his former colleague and daughter-in-law, disclosed in her book Buffettology).

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On the military front, Medis is supplying General Dynamics with experimental Power Packs to power battlefield PDAs, although GD has yet to place an order.

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