The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
1st Source Corporation COM 336901103 215 8,000 SH   SOLE   0 0 8,000
3M Company COM 88579y101 1,544 12,934 SH   SOLE   0 0 12,934
AER Energy Resources Inc COM 000944207 1 5,000,000 SH   SOLE   0 0 5,000,000
AT&T, Inc. COM 00206R102 6,534 193,211 SH   SOLE   0 0 193,211
AbbVie, Inc. COM 00287y109 348 7,773 SH   SOLE   0 0 7,773
Abbott Laboratories COM 002824100 258 7,773 SH   SOLE   0 0 7,773
Accenture Ltd COM g1151c101 15,274 207,420 SH   SOLE   0 0 207,420
AllState Corp. COM 020002101 494 9,770 SH   SOLE   0 0 9,770
Altria Group, Inc. COM 02209s103 2,070 60,265 SH   SOLE   0 0 60,265
American Express Co. COM 025816109 642 8,501 SH   SOLE   0 0 8,501
American Int'l Group COM 026874784 696 14,303 SH   SOLE   0 0 14,303
Amgen Inc. COM 031162100 1,591 14,219 SH   SOLE   0 0 14,219
Apache Corp. COM 037411105 9,600 112,753 SH   SOLE   0 0 112,753
Apple Computer COM 037833100 10,399 21,811 SH   SOLE   0 0 21,811
Automatic Data Processing COM 053015103 400 5,531 SH   SOLE   0 0 5,531
Banco LatinoAmericano COM P16994132 18,654 748,565 SH   SOLE   0 0 748,565
BankAmerica Corp. COM 060505104 166 12,001 SH   SOLE   0 0 12,001
Belo Corporation COM 080555105 370 27,000 SH   SOLE   0 0 27,000
Berkshire Hathaway 'A' COM 084670108 1,193 7 SH   SOLE   0 0 7
Berkshire Hathaway 'B' COM 084670702 227 2,000 SH   SOLE   0 0 2,000
Berkshire Hathaway 'B' COM 084670702 68,749 605,664 SH   SOLE   0 0 605,664
Berry Petroleum Cl A COM 085789105 6,297 146,000 SH   SOLE   0 0 146,000
Bristol Myers Squibb COM 110122108 1,726 37,294 SH   SOLE   0 0 37,294
Brookdale Sr Living Inc COM 112463104 4,920 187,074 SH   SOLE   0 0 187,074
Brookfield Pptys Part COM G16249107 266 13,724 SH   SOLE   0 0 13,724
Campbell Soup Co. COM 134429109 4,621 113,500 SH   SOLE   0 0 113,500
Caterpillar Inc. COM 149123101 6,715 80,519 SH   SOLE   0 0 80,519
Chesapeake Energy COM 165167107 14,424 557,350 SH   SOLE   0 0 557,350
Chevron Corp. COM 166764100 2,079 17,110 SH   SOLE   0 0 17,110
Cisco Systems Inc. COM 17275R102 5,031 214,708 SH   SOLE   0 0 214,708
Coca Cola Co. COM 191216100 3,141 82,908 SH   SOLE   0 0 82,908
Colgate Palmolive Co. COM 194162103 205 3,450 SH   SOLE   0 0 3,450
Comcast Corp. Special Class A COM 20030n200 947 21,855 SH   SOLE   0 0 21,855
Computer Sciences Corp. COM 205363104 1,336 25,828 SH   SOLE   0 0 25,828
ConocoPhillips COM 20825c104 386 5,556 SH   SOLE   0 0 5,556
Corrections Corp Amer COM 22025y407 29,458 852,608 SH   SOLE   0 0 852,608
Covidien Ltd COM g2554f113 294 4,825 SH   SOLE   0 0 4,825
DIRECTV COM 25490a309 1,516 25,357 SH   SOLE   0 0 25,357
Darden Restaurants, Inc. COM 237194105 231 5,000 SH   SOLE   0 0 5,000
Dentsply Intl Inc COM 249030107 1,670 38,464 SH   SOLE   0 0 38,464
Dominion Resources, Inc. COM 25746u109 1,380 22,082 SH   SOLE   0 0 22,082
Duke Energy Corp. COM 26441c204 4,466 66,884 SH   SOLE   0 0 66,884
E. I. Dupont de Nemours & Co. COM 263534109 266 4,543 SH   SOLE   0 0 4,543
Express Scripts, Inc. COM 30219g108 1,542 24,944 SH   SOLE   0 0 24,944
Exxon Mobil Corp. COM 30231G102 16,151 187,711 SH   SOLE   0 0 187,711
Fairfax Financial Hld COM 303901102 68,125 167,158 SH   SOLE   0 0 167,158
FedEx Corp. COM 31428X106 5,453 47,789 SH   SOLE   0 0 47,789
Forestar Group COM 346233109 549 25,500 SH   SOLE   0 0 25,500
Freeport McMoran Copper & Gold COM 35671D857 1,422 42,993 SH   SOLE   0 0 42,993
Gannett Co. Inc. COM 364730101 17,035 635,861 SH   SOLE   0 0 635,861
General Electric Co. COM 369604103 6,793 284,347 SH   SOLE   0 0 284,347
General Mills Inc. COM 370334104 1,755 36,633 SH   SOLE   0 0 36,633
Google Inc Class A COM 38259P508 731 834 SH   SOLE   0 0 834
HCA Holdings, Inc. COM 40412C101 38,242 894,551 SH   SOLE   0 0 894,551
HCC Ins Hldgs COM 404132102 6,432 146,787 SH   SOLE   0 0 146,787
HCP Inc COM 40414L109 6,080 148,485 SH   SOLE   0 0 148,485
Halliburton Inc. COM 406216101 8,265 171,643 SH   SOLE   0 0 171,643
HealthStream Inc. COM 42222n103 515 13,600 SH   SOLE   0 0 13,600
Hewlett Packard Co. COM 428236103 247 11,745 SH   SOLE   0 0 11,745
Home Depot Inc. COM 437076102 5,251 69,224 SH   SOLE   0 0 69,224
Honeywell International Inc. COM 438516106 904 10,890 SH   SOLE   0 0 10,890
Horsehead Holding COM 440694305 461 37,000 SH   SOLE   0 0 37,000
Intel Corp. COM 458140100 6,727 293,497 SH   SOLE   0 0 293,497
International Business Machine COM 459200101 10,515 56,781 SH   SOLE   0 0 56,781
J. P. Morgan Chase & Co. Inc. COM 46625h100 626 12,102 SH   SOLE   0 0 12,102
Johnson & Johnson COM 478160104 10,186 117,500 SH   SOLE   0 0 117,500
Kinder Morgan Energy LP COM 494550106 212 2,650 SH   SOLE   0 0 2,650
Kraft Foods Group, Inc. COM 50076q106 1,401 26,688 SH   SOLE   0 0 26,688
L-3 Communications COM 502424104 326 3,450 SH   SOLE   0 0 3,450
Leucadia Natl Corp COM 527288104 1,466 53,800 SH   SOLE   0 0 53,800
Level 3 Commun COM 52729N308 15,756 590,333 SH   SOLE   0 0 590,333
Liberty Media Corp. COM 530322106 354 2,406 SH   SOLE   0 0 2,406
Loews Corp. COM 540424108 19,977 427,397 SH   SOLE   0 0 427,397
Lowes Companies COM 548661107 5,151 108,184 SH   SOLE   0 0 108,184
McCormick COM 579780206 1,003 15,500 SH   SOLE   0 0 15,500
McDonalds Corp. COM 580135101 2,833 29,441 SH   SOLE   0 0 29,441
Mead Johnson Nutrition COM 582839106 400 5,381 SH   SOLE   0 0 5,381
Medtronic Inc. COM 585055106 3,459 64,962 SH   SOLE   0 0 64,962
Merck & Company Inc. COM 58933y105 4,899 102,896 SH   SOLE   0 0 102,896
Microsoft Corp. COM 594918104 3,329 100,045 SH   SOLE   0 0 100,045
Mondelez Int'l Inc COM 609207105 9,385 298,671 SH   SOLE   0 0 298,671
Morgan Stanley COM 617446448 256 9,500 SH   SOLE   0 0 9,500
National Health Invstrs COM 63633d104 14,393 252,997 SH   SOLE   0 0 252,997
National Healthcare COM 635906100 421 8,915 SH   SOLE   0 0 8,915
Newmont Mining Corp COM 651639106 897 31,926 SH   SOLE   0 0 31,926
News Corp. Ltd. Cl B COM 65248e203 381 23,183 SH   SOLE   0 0 23,183
Novartis AG COM 66987v109 567 7,390 SH   SOLE   0 0 7,390
Oracle COM 68389x105 2,489 75,039 SH   SOLE   0 0 75,039
Overstock COM 690370101 10,741 362,000 SH   SOLE   0 0 362,000
Pall Corp. COM 696429307 12,326 160,000 SH   SOLE   0 0 160,000
People's United Financial COM 712704105 16,642 1,157,327 SH   SOLE   0 0 1,157,327
PepsiCo Inc. COM 713448108 1,854 23,325 SH   SOLE   0 0 23,325
Pfizer Inc. COM 717081103 3,113 108,388 SH   SOLE   0 0 108,388
Philip Morris Intl COM 718172109 6,898 79,667 SH   SOLE   0 0 79,667
Pico Holdings COM 693366205 520 24,000 SH   SOLE   0 0 24,000
Pinnacle Financial Partners COM 72346q104 217 7,275 SH   SOLE   0 0 7,275
Proassurance Corp COM 74267C106 1,250 27,750 SH   SOLE   0 0 27,750
Procter & Gamble Co. COM 742718109 11,514 152,325 SH   SOLE   0 0 152,325
Regions Financial Corp. COM 7591ep100 596 64,324 SH   SOLE   0 0 64,324
Republic Services Inc. COM 760759100 5,275 158,114 SH   SOLE   0 0 158,114
Roche Holdings COM 771195104 2,814 41,676 SH   SOLE   0 0 41,676
Royal Dutch Shell Class B COM 780259107 2,237 32,498 SH   SOLE   0 0 32,498
Russell 2000 Index Fund COM 464287655 213 2,000 SH   SOLE   0 0 2,000
SPDR Utilities Select COM 81369Y886 770 20,606 SH   SOLE   0 0 20,606
Schlumberger Ltd. COM 806857108 11,316 128,068 SH   SOLE   0 0 128,068
Scripps Networks Interactive, COM 811065101 2,398 30,700 SH   SOLE   0 0 30,700
Select Basic Materials Sector COM 81369y100 1,740 41,407 SH   SOLE   0 0 41,407
Sigma Aldrich Corp. COM 826552101 341 4,000 SH   SOLE   0 0 4,000
Starbucks Corp. COM 855244109 493 6,410 SH   SOLE   0 0 6,410
SunTrust Banks Inc. COM 867914103 858 26,471 SH   SOLE   0 0 26,471
Syntroleum COM 871630208 475 103,009 SH   SOLE   0 0 103,009
Sysco Corp. COM 871829107 6,477 203,497 SH   SOLE   0 0 203,497
TJX Companies, Inc. COM 872540109 862 15,292 SH   SOLE   0 0 15,292
Target Corporation COM 87612e106 1,461 22,828 SH   SOLE   0 0 22,828
Tejon Ranch Co. COM 879080109 339 11,000 SH   SOLE   0 0 11,000
Tidewater Inc. COM 886423102 8,227 138,600 SH   SOLE   0 0 138,600
Travelers Inc. COM 89417e109 1,171 13,819 SH   SOLE   0 0 13,819
Twenty-First Cent Fox Inc. Cl COM 90130a101 1,876 55,995 SH   SOLE   0 0 55,995
Twenty-First Cent Fox Inc. Cl COM 90130a200 3,181 95,235 SH   SOLE   0 0 95,235
US Bancorp COM 902973304 523 14,295 SH   SOLE   0 0 14,295
United Parcel Svc. Inc. CL B COM 911312106 5,469 59,851 SH   SOLE   0 0 59,851
United Technologies COM 913017109 8,741 81,071 SH   SOLE   0 0 81,071
Vanguard Emerging Markets ETF COM 922042858 1,699 42,341 SH   SOLE   0 0 42,341
Vanguard Large-Cap Exchanged T COM 922908637 421 5,445 SH   SOLE   0 0 5,445
Vanguard Mid-Cap Exchange Trad COM 922908629 238 2,325 SH   SOLE   0 0 2,325
Vanguard Small-Cap VIPERs COM 922908751 407 3,975 SH   SOLE   0 0 3,975
Verizon Communications COM 92343v104 2,990 64,050 SH   SOLE   0 0 64,050
Vodafone Group PLC ADS COM 92857w209 9,775 277,850 SH   SOLE   0 0 277,850
Vulcan Materials COM 929160109 715 13,800 SH   SOLE   0 0 13,800
Wal-Mart Stores Inc. COM 931142103 8,473 114,567 SH   SOLE   0 0 114,567
Walt Disney Co. COM 254687106 7,852 121,757 SH   SOLE   0 0 121,757
Washington Post Co. COM 939640108 1,475 2,413 SH   SOLE   0 0 2,413
Wells Fargo & Co. COM 949746101 1,781 43,104 SH   SOLE   0 0 43,104
Western Union COM 959802109 979 52,487 SH   SOLE   0 0 52,487
White Mountain Ins COM G9618E107 2,900 5,109 SH   SOLE   0 0 5,109
Yamana Gold COM 98462Y100 711 68,390 SH   SOLE   0 0 68,390
iShares FTSE China 25 Index Fu COM 464287184 2,661 71,750 SH   SOLE   0 0 71,750
iShares MSCI EAFE Index Fund COM 464287465 236 3,696 SH   SOLE   0 0 3,696
iShares MSCI Emerging Markets COM 464287234 1,496 36,696 SH   SOLE   0 0 36,696
iShares MSCI Pacific Rim COM 464286665 1,870 39,246 SH   SOLE   0 0 39,246
iShares Russell 1000 Index ETF COM 464287622 408 4,335 SH   SOLE   0 0 4,335
iShares Russell Mid-Cap Index COM 464287499 223 1,605 SH   SOLE   0 0 1,605
iShares S&P 500 Core Index ETF COM 464287200 410 2,425 SH   SOLE   0 0 2,425
iShares S&P SmallCap 600 Index COM 464287804 3,410 34,170 SH   SOLE   0 0 34,170
Natl Healthcare Cv Prf PFD CV 635906209 418 28,533 SH   SOLE   0 0 28,533