BNSF managers predicted painful recovery prior to buyout

12/28/2009 | Barron's (subscription required)

Burlington Northern Santa Fe managers were weighing a pessimistic business forecast when Warren Buffett came calling this year. The view of BNSF managers was that U.S. industrial activity might not pick up in 2010, as many economists expect, and a full economic recovery might not really begin until 2011. Buffett's Berkshire Hathaway bought BNSF on Nov. 3 for $34 billion.

View Full Article in:

Barron's (subscription required)