Warren Buffett Buys Railroad for $34 Billion in Support of US Economy
source: http://www.msnbc.msn.com/id/33599744/ns/business-us_business
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Full Story - http://www.msnbc.msn.com/id/33599744/ns/business-us_business
NEW YORK - Warren Buffett's Berkshire Hathaway Inc. on Tuesday agreed to buy Burlington Northern Santa Fe Corp., making a $34 billion bet on the future of the U.S. economy.
Burlington Northern, the nation's second-largest railroad, is the biggest hauler of food products like corn and coal for electricity, making it an indicator of the country's economic health. The railroad also ships a large amount of goods from Western ports including everyday items such as refrigerators, clothing and TVs.
Analysts say Buffett is planting both feet in an industry that is poised to grow as the economy gets back on solid ground. If approved, it would be the biggest acquisition ever for Berkshire Hathaway Inc.
-- Warren Buffett, one of the richest people in the world, is making a large investment in America. I personally like the idea. It is my opinion that the economy really is on the right track. This acquisition will only strengthen the US economy. To those who are skeptical, remember one thing, this country was sinking at a rapid rate before the year even began. That very narrow slope is what's making it difficult for things to rapidly reverse in direction. In time, all heals...
NEW YORK - Warren Buffett's Berkshire Hathaway Inc. on Tuesday agreed to buy Burlington Northern Santa Fe Corp., making a $34 billion bet on the future of the U.S. economy.
Burlington Northern, the nation's second-largest railroad, is the biggest hauler of food products like corn and coal for electricity, making it an indicator of the country's economic health. The railroad also ships a large amount of goods from Western ports including everyday items such as refrigerators, clothing and TVs.
Analysts say Buffett is planting both feet in an industry that is poised to grow as the economy gets back on solid ground. If approved, it would be the biggest acquisition ever for Berkshire Hathaway Inc.
-- Warren Buffett, one of the richest people in the world, is making a large investment in America. I personally like the idea. It is my opinion that the economy really is on the right track. This acquisition will only strengthen the US economy. To those who are skeptical, remember one thing, this country was sinking at a rapid rate before the year even began. That very narrow slope is what's making it difficult for things to rapidly reverse in direction. In time, all heals...
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