Very rich man Warren Buffett has bought the second largest North American trans-continental railroad, and admits that it's a gamble on the future success of American business. Is it possible he plans to use some tracks for passenger trains? That would be awesome. Trains are very green. And fun. The Burlington Northern Santa Fe railroad went for 44 BILLION.
"The deal, which including Berkshire's previous investment and the assumption of $10 billion in Burlington Northern debt brings the total value to $44 billion, represents what Mr. Buffett said was a big bet on the United States."
HERE is the story in the NY Times.
Question: Why did the man synonymous with Omaha,Ne reject the railroad synonymous with Omaha,Ne (Union Pacific) when buying BNSF? They compete side by side thruout the west with equal access to Powder river coal and containers at LA/LongBeach.
ReplyDelete