12/20/2023 0 Comments The daily journalThere is a huge market for automation of the courts. And the filing should be done electronically. That should all be done on Zoom and so forth. There’s no reason where lawyers should go down through heavy traffic and wait for some little motion. What’s interesting is that the courts of the world have been in the Stone Age. Would you care to expound on that thought?Ĭharlie Munger: I’m glad to. Question: In the annual report, you noted that prospects and software now seem especially interesting. Question: Who are principal competitors in supplying software to court systems? And do you have a guess as to who has what market share?Ĭharlie Munger: Well, Tyler Technologies has the big share and the rest is scattered. So that’s the reason for the decline in those numbers.Ĭharlie Munger: By the way, other software companies avoid obsoleting a system because they lose some business but we want the customers to have the more modern system. And as we expected, many of the smaller agencies decided not to go to our main system, which we call eCourt, eSystems, eProbation, eProsecutor, and ePublic Defender. Gerald Salzman: The reason for the decline to a certain degree is that several years ago, we decided not to support a very old legacy system that had a number of smaller agencies in addition to a number of larger agencies. I just wonder what is the reason for the decline?Ĭharlie Munger: Gerry, you take that one. On the website and all the other older 10-Q and 10-Ks, it said that JT serves 42 states. Question: In the latest 10-Q our company stated that Journal Technologies serves 30 states in the United States. So we tell everybody what we have to under the rules and we keep it confidential until then. As a shareholder, am I entitled to know what overseas securities we own on margin?Ĭharlie Munger: Well, the practice at Daily Journal and Berkshire is the same: We disclose what we have to under the rules because we don’t want people to know what we’re buying and selling. Question: I noticed that our company is using margin debts to purchase overseas securities and the overseas securities are not reported in the SEC filing. So obviously, we have succession planning to do in the near future. Salzman’s retirement?Ĭharlie Munger: Well, our long-term plan is to replace both Gerry and I, because he’s 83 and I’m 98. Question: What is the current Daily Journal management succession plan and who will be in charge after Mr. Question: What are the reasons for Gerry and Peter Kaufman leaving the board?Ĭharlie Munger: Well, we are going to have to make changes in the future. And when I’m gone, or sufficiently impaired, we’ll get somebody else to do it. Gerald Salzman: Charlie, I think you should answer that.Ĭharlie Munger: Well, I’ll handle it as long as we can. How does the Daily Journal plan to handle its investment portfolio after Charlie steps back? Question: Charlie and Gerry, we wanted to start with questions that were very specific to the Daily Journal first. Now we’re going to answer questions in the tradition that’s common to both the Daily Journal and Berkshire Hathaway. Enjoy!Ĭharlie Munger: The Daily Journal’s formal business is over. Daily Journal Corporation was incorporated in 1987 and is based in Los Angeles, California.I usually sit down and transcribe the Daily Journal’s AGM every year a few days after its occurrence. It provides its software systems and related products for courts prosecutor and public defender offices probation departments and other justice agencies, including administrative law organizations, city and county governments, and bar associations to manage cases and information electronically, to interface with other justice partners, and to extend electronic services to bar members and the public in 42 states and internationally. In addition, the company offers case management software systems and related products, including eCourt, eProsecutor, eDefender, and eProbation, which are browser-based case processing systems eFile, a browser-based interface that allows attorneys and the general public to electronically file documents with the court and ePayIt, a service primarily for the online payment of traffic citations. It also provides specialized information services and serves as an advertising and newspaper representative for commercial and public notice advertising. The company publishes 10 newspapers of general circulation, including Los Angeles Daily Journal, San Francisco Daily Journal, Daily Commerce, The Daily Recorder, The Inter-City Express, San Jose Post-Record, Orange County Reporter, The Daily Transcript, Business Journal, and The Record Reporter. It operates in two segments, Traditional Business and Journal Technologies. Daily Journal Corporation publishes newspapers and websites covering in California, Arizona, and Utah.
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