Warren Buffett bets on the railroad industry

11/3/2009 | NYTimes.com · MarketWatch · Bloomberg · Wall Street Journal, The

Berkshire Hathaway announced this morning it would acquire Burlington Northern Santa Fe and about $10 billion of its debt for a total of $44 billion. "Our country's future prosperity depends on its having an efficient and well-maintained rail system," said Warren Buffett, Berkshire Hathaway chairman and CEO. "Conversely, America must grow and prosper for railroads to do well. Berkshire's $34 billion investment in BNSF is a huge bet on that company, CEO Matt Rose and his team, and the railroad industry."

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