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
3M Company COM 88579y101 1,804 12,735 SH   SOLE   0 0 12,735
AER Energy Resources Inc COM 000944207 0 5,000,000 SH   SOLE   0 0 5,000,000
AT&T, Inc. COM 00206R102 6,509 184,714 SH   SOLE   0 0 184,714
AbbVie, Inc. COM 00287y109 544 9,418 SH   SOLE   0 0 9,418
Abbott Laboratories COM 002824100 387 9,298 SH   SOLE   0 0 9,298
Accenture Ltd COM g1151c101 16,724 205,651 SH   SOLE   0 0 205,651
AllState Corp. COM 020002101 447 7,286 SH   SOLE   0 0 7,286
Altria Group, Inc. COM 02209s103 2,887 62,845 SH   SOLE   0 0 62,845
Amazon.Com COM 023135106 3,357 10,412 SH   SOLE   0 0 10,412
American Airlines Grp COM 02376R102 213 6,000 SH   SOLE   0 0 6,000
American Express Co. COM 025816109 858 9,796 SH   SOLE   0 0 9,796
American Int'l Group COM 026874784 942 17,430 SH   SOLE   0 0 17,430
Amgen Inc. COM 031162100 2,788 19,847 SH   SOLE   0 0 19,847
Apache Corp. COM 037411105 11,464 122,123 SH   SOLE   0 0 122,123
Apple Computer COM 037833100 15,397 152,822 SH   SOLE   0 0 152,822
Automatic Data Processing COM 053015103 426 5,131 SH   SOLE   0 0 5,131
BP PLC COM 055622104 941 21,400 SH   SOLE   0 0 21,400
Banco LatinoAmericano COM P16994132 22,526 734,239 SH   SOLE   0 0 734,239
BankAmerica Corp. COM 060505104 265 15,516 SH   SOLE   0 0 15,516
Berkshire Hathaway 'A' COM 084670108 1,241 6 SH   SOLE   0 0 6
Berkshire Hathaway 'B' COM 084670702 82,635 598,201 SH   SOLE   0 0 598,201
Boardwalk Pipeline Prtnrs LP COM 096627104 8,280 442,800 SH   SOLE   0 0 442,800
Boeing Co. COM 097023105 264 2,069 SH   SOLE   0 0 2,069
Bristol Myers Squibb COM 110122108 2,235 43,678 SH   SOLE   0 0 43,678
Brookdale Sr Living Inc COM 112463104 6,947 215,599 SH   SOLE   0 0 215,599
Brookfield Pptys Part COM G16249107 358 17,000 SH   SOLE   0 0 17,000
CVS Caremark Corp. COM 126650100 240 3,015 SH   SOLE   0 0 3,015
Campbell Soup Co. COM 134429109 4,786 112,000 SH   SOLE   0 0 112,000
Caterpillar Inc. COM 149123101 7,446 75,194 SH   SOLE   0 0 75,194
Celgene Corp. COM 151020104 260 2,738 SH   SOLE   0 0 2,738
Chesapeake Energy COM 165167107 13,959 607,190 SH   SOLE   0 0 607,190
Chevron Corp. COM 166764100 2,337 19,588 SH   SOLE   0 0 19,588
Cisco Systems Inc. COM 17275R102 4,651 184,764 SH   SOLE   0 0 184,764
Citigroup Inc. COM 172967424 221 4,265 SH   SOLE   0 0 4,265
Coca Cola Co. COM 191216100 3,507 82,201 SH   SOLE   0 0 82,201
Colgate Palmolive Co. COM 194162103 220 3,378 SH   SOLE   0 0 3,378
Comcast Corp. - Class A COM 20030n101 225 4,193 SH   SOLE   0 0 4,193
Comcast Corp. Special Class A COM 20030n200 1,227 22,935 SH   SOLE   0 0 22,935
Computer Sciences Corp. COM 205363104 1,222 19,982 SH   SOLE   0 0 19,982
ConocoPhillips COM 20825c104 440 5,748 SH   SOLE   0 0 5,748
Corrections Corp Amer COM 22025y407 30,531 888,550 SH   SOLE   0 0 888,550
Covidien Ltd COM g2554f113 316 3,650 SH   SOLE   0 0 3,650
DIRECTV COM 25490a309 2,267 26,207 SH   SOLE   0 0 26,207
Darden Restaurants, Inc. COM 237194105 257 5,000 SH   SOLE   0 0 5,000
Dentsply Intl Inc COM 249030107 1,757 38,523 SH   SOLE   0 0 38,523
Diageo PLC COM 25243Q205 437 3,790 SH   SOLE   0 0 3,790
Dominion Resources, Inc. COM 25746u109 1,801 26,061 SH   SOLE   0 0 26,061
Duke Energy Corp. COM 26441c204 4,650 62,196 SH   SOLE   0 0 62,196
E. I. Dupont de Nemours & Co. COM 263534109 304 4,243 SH   SOLE   0 0 4,243
Energy XXI Ltd COM g10082140 2,200 193,790 SH   SOLE   0 0 193,790
Express Scripts, Inc. COM 30219g108 1,374 19,460 SH   SOLE   0 0 19,460
Exxon Mobil Corp. COM 30231G102 15,998 170,102 SH   SOLE   0 0 170,102
Fairfax Financial Hld COM 303901102 73,693 165,153 SH   SOLE   0 0 165,153
FedEx Corp. COM 31428X106 7,263 44,986 SH   SOLE   0 0 44,986
First Horizon Nat'l COM 320517105 129 10,474 SH   SOLE   0 0 10,474
Forestar Group COM 346233109 868 49,000 SH   SOLE   0 0 49,000
Freeport McMoran, Inc. COM 35671D857 1,172 35,899 SH   SOLE   0 0 35,899
Gannett Co. Inc. COM 364730101 18,481 622,897 SH   SOLE   0 0 622,897
General Electric Co. COM 369604103 8,643 337,360 SH   SOLE   0 0 337,360
General Mills Inc. COM 370334104 1,545 30,615 SH   SOLE   0 0 30,615
Goldman Sachs Group COM 38141g104 579 3,155 SH   SOLE   0 0 3,155
Google Inc. Class A COM 38259P508 515 875 SH   SOLE   0 0 875
Google Inc. Class C COM 38259P706 573 993 SH   SOLE   0 0 993
Graham Holdings Co COM 384637104 1,632 2,333 SH   SOLE   0 0 2,333
HCA Holdings, Inc. COM 40412C101 38,032 539,307 SH   SOLE   0 0 539,307
HCC Ins Hldgs COM 404132102 7,018 145,340 SH   SOLE   0 0 145,340
HCP Inc COM 40414L109 6,242 157,192 SH   SOLE   0 0 157,192
Halliburton Inc. COM 406216101 10,215 158,343 SH   SOLE   0 0 158,343
HealthStream Inc. COM 42222n103 327 13,600 SH   SOLE   0 0 13,600
Hewlett Packard Co. COM 428236103 487 13,741 SH   SOLE   0 0 13,741
Home Depot Inc. COM 437076102 6,601 71,956 SH   SOLE   0 0 71,956
Honeywell Intl. COM 438516106 843 9,050 SH   SOLE   0 0 9,050
Horsehead Holding COM 440694305 579 35,000 SH   SOLE   0 0 35,000
Intel Corp. COM 458140100 10,037 288,262 SH   SOLE   0 0 288,262
International Business Machine COM 459200101 9,846 51,867 SH   SOLE   0 0 51,867
J. P. Morgan Chase & Co. Inc. COM 46625h100 902 14,975 SH   SOLE   0 0 14,975
Johnson & Johnson COM 478160104 12,094 113,461 SH   SOLE   0 0 113,461
KKR & Company LP COM 48248M102 2,936 131,638 SH   SOLE   0 0 131,638
Kraft Foods Group, Inc. COM 50076q106 1,234 21,885 SH   SOLE   0 0 21,885
L-3 Communications COM 502424104 410 3,450 SH   SOLE   0 0 3,450
Leucadia Natl Corp COM 527288104 1,964 82,400 SH   SOLE   0 0 82,400
Level 3 Commun COM 52729N308 25,670 561,338 SH   SOLE   0 0 561,338
Liberty Media Corp. Ser C COM 531229300 227 4,828 SH   SOLE   0 0 4,828
LinnCo, LLC COM 535782106 7,059 243,839 SH   SOLE   0 0 243,839
Loews Corp. COM 540424108 18,162 435,953 SH   SOLE   0 0 435,953
Lowes Companies COM 548661107 5,465 103,267 SH   SOLE   0 0 103,267
McCormick COM 579780206 1,071 16,015 SH   SOLE   0 0 16,015
McDonalds Corp. COM 580135101 2,809 29,630 SH   SOLE   0 0 29,630
Mead Johnson Nutrition COM 582839106 520 5,409 SH   SOLE   0 0 5,409
Medtronic Inc. COM 585055106 3,799 61,332 SH   SOLE   0 0 61,332
Merck & Company Inc. COM 58933y105 6,260 105,602 SH   SOLE   0 0 105,602
Microsoft Corp. COM 594918104 4,738 102,202 SH   SOLE   0 0 102,202
Mondelez Int'l Inc COM 609207105 10,414 303,919 SH   SOLE   0 0 303,919
Morgan Stanley COM 617446448 311 9,000 SH   SOLE   0 0 9,000
National Health Invstrs COM 63633d104 13,485 235,997 SH   SOLE   0 0 235,997
National Healthcare COM 635906100 495 8,915 SH   SOLE   0 0 8,915
Newmont Mining Corp COM 651639106 1,216 52,754 SH   SOLE   0 0 52,754
News Corp. Ltd. Cl B COM 65249B208 185 11,483 SH   SOLE   0 0 11,483
Novartis AG COM 66987v109 742 7,881 SH   SOLE   0 0 7,881
Oracle COM 68389x105 2,519 65,797 SH   SOLE   0 0 65,797
Overstock COM 690370101 6,032 357,768 SH   SOLE   0 0 357,768
Pall Corp. COM 696429307 13,055 155,968 SH   SOLE   0 0 155,968
Peoples United Fncl COM 712704105 15,532 1,073,427 SH   SOLE   0 0 1,073,427
PepsiCo Inc. COM 713448108 2,511 26,977 SH   SOLE   0 0 26,977
Pfizer Inc. COM 717081103 3,130 105,859 SH   SOLE   0 0 105,859
Philip Morris Intl COM 718172109 7,020 84,178 SH   SOLE   0 0 84,178
Pico Holdings COM 693366205 519 26,000 SH   SOLE   0 0 26,000
Pinnacle Financial Partners COM 72346q104 239 6,625 SH   SOLE   0 0 6,625
Procter & Gamble Co. COM 742718109 12,147 145,056 SH   SOLE   0 0 145,056
Regions Financial Corp. COM 7591ep100 930 92,629 SH   SOLE   0 0 92,629
Renewable Energy COM 75972a301 146 14,335 SH   SOLE   0 0 14,335
Republic Services Inc. COM 760759100 5,347 137,033 SH   SOLE   0 0 137,033
Roche Holdings COM 771195104 3,043 82,267 SH   SOLE   0 0 82,267
Royal Dutch Shell Class B COM 780259107 2,534 32,021 SH   SOLE   0 0 32,021
SPDR Gold Trust COM 78463V107 1,154 9,927 SH   SOLE   0 0 9,927
SPDR Utilities Select COM 81369Y886 2,392 56,829 SH   SOLE   0 0 56,829
Schlumberger Ltd. COM 806857108 12,710 124,992 SH   SOLE   0 0 124,992
Scripps Networks Interactive, COM 811065101 2,397 30,700 SH   SOLE   0 0 30,700
Select Basic Materials Sector COM 81369y100 1,722 34,716 SH   SOLE   0 0 34,716
Seventy Seven Enrgy COM 818097107 802 33,773 SH   SOLE   0 0 33,773
Sigma Aldrich Corp. COM 826552101 544 4,000 SH   SOLE   0 0 4,000
Starbucks Corp. COM 855244109 519 6,883 SH   SOLE   0 0 6,883
SunTrust Banks Inc. COM 867914103 1,134 29,818 SH   SOLE   0 0 29,818
Syntroleum COM 871630208 82 68,247 SH   SOLE   0 0 68,247
Sysco Corp. COM 871829107 6,960 183,401 SH   SOLE   0 0 183,401
TJX Companies, Inc. COM 872540109 760 12,851 SH   SOLE   0 0 12,851
Tejon Ranch Co. COM 879080109 308 11,000 SH   SOLE   0 0 11,000
Tidewater Inc. COM 886423102 6,688 171,367 SH   SOLE   0 0 171,367
Transocean, Ltd COM H8817H100 784 24,527 SH   SOLE   0 0 24,527
Travelers Inc. COM 89417e109 626 6,669 SH   SOLE   0 0 6,669
Truxton Corp. COM 89845y107 270 14,010 SH   SOLE   0 0 14,010
Twenty-First Cent Fox Inc. Cl COM 90130a101 2,168 63,229 SH   SOLE   0 0 63,229
Twenty-First Cent Fox Inc. Cl COM 90130A200 3,619 108,642 SH   SOLE   0 0 108,642
US Bancorp COM 902973304 582 13,925 SH   SOLE   0 0 13,925
United Parcel Svc. Cl B COM 911312106 5,689 57,883 SH   SOLE   0 0 57,883
United Technologies COM 913017109 9,278 87,857 SH   SOLE   0 0 87,857
Universal Express, Inc. COM 91349p103 0 1,250,000 SH   SOLE   0 0 1,250,000
Vanguard Emerging Markets ETF COM 922042858 1,799 43,136 SH   SOLE   0 0 43,136
Vanguard Large-Cap Exchanged T COM 922908637 477 5,275 SH   SOLE   0 0 5,275
Vanguard Mid-Cap Exchange Trad COM 922908629 273 2,325 SH   SOLE   0 0 2,325
Vanguard Small-Cap VIPERs COM 922908751 412 3,725 SH   SOLE   0 0 3,725
Verizon Comm. COM 92343v104 7,184 143,712 SH   SOLE   0 0 143,712
Vodafone Group PLC ADS COM 92857w308 3,817 116,052 SH   SOLE   0 0 116,052
Vulcan Materials COM 929160109 777 12,900 SH   SOLE   0 0 12,900
Wal-Mart Stores Inc. COM 931142103 8,436 110,316 SH   SOLE   0 0 110,316
Walt Disney Co. COM 254687106 9,468 106,346 SH   SOLE   0 0 106,346
Wells Fargo & Co. COM 949746101 3,225 62,184 SH   SOLE   0 0 62,184
Western Union COM 959802109 681 42,427 SH   SOLE   0 0 42,427
White Mountain Ins COM G9618E107 3,073 4,877 SH   SOLE   0 0 4,877
Yamana Gold COM 98462Y100 553 92,146 SH   SOLE   0 0 92,146
Zimmer Holdings, Inc. COM 98956P102 561 5,576 SH   SOLE   0 0 5,576
Zoetis, Inc. COM 98978v103 1,539 41,655 SH   SOLE   0 0 41,655
iShares DJ Select Dividend Ind COM 464287168 239 3,230 SH   SOLE   0 0 3,230
iShares FTSE China 25 Index Fu COM 464287184 2,219 57,975 SH   SOLE   0 0 57,975
iShares MSCI EAFE Index Fund COM 464287465 243 3,796 SH   SOLE   0 0 3,796
iShares MSCI Emerging Markets COM 464287234 1,534 36,913 SH   SOLE   0 0 36,913
iShares MSCI Pacific Rim COM 464286665 1,559 33,846 SH   SOLE   0 0 33,846
iShares Russell 1000 Index ETF COM 464287622 447 4,070 SH   SOLE   0 0 4,070
iShares Russell Mid-Cap Index COM 464287499 254 1,605 SH   SOLE   0 0 1,605
iShares S&P 500 Core Index ETF COM 464287200 362 1,825 SH   SOLE   0 0 1,825
iShares S&P SmallCap 600 Index COM 464287804 2,755 26,415 SH   SOLE   0 0 26,415
Natl Healthcare Cv Prf PFD CV 635906209 430 28,533 SH   SOLE   0 0 28,533