The conversion of debt to equity in this instance is a (relatively) positive thing, imo....the key word is "relatively".
$29M for 16M shares puts the conversion at about $1.80/sh
I would expect a lot more of this in the near future.
Buffett is not guilty of hypocrisy, he is guilty of poor communication - and people who don't get it, are guilty of being stupid. But in this country, everyone has the right to be a moron.
He apparently needs to say it more plainly -
"Look idiots, lets be clear, I'm not (and never will), pay a thin dime of taxes voluntarily. A voluntary tax policy is no policy at all.
As I have ALL my life, I'll continue to avoid taxes like the plague, for both myself and my shareholders within the limits of the law.
If that sounds hypocritical, you have a blind spot in your thinking, and blind spots, by definition, are in-comprehendible to the blind.
If or when tax laws are changed to increase rates for the rich (as I hope they do), I will happily pay them WHILE I CONTINUE TO DO EVERYTHING I CAN TO MINIMIZE THEM.