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Article: Buffett's $34B bid for railroad a big bet on the U.S. economy.(Front)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Samantha Bomkamp
The Associated Press
NEW YORK
The biggest name in investing is making what he calls an "all-in wager" on the U.S. economy - $34 billion to own a railroad that hauls everything from corn to cars across the country.
The acquisition of Burlington Northern Santa Fe, the nation's second-largest railroad, would be the biggest for Warren Buffett's Berkshire Hathaway investment company.
It's a natural fit for the Oracle of Omaha, a city with a special place in railroad history. It was the starting point for the westward push of the transcontinental railroad. Today, Omaha is the headquarters of Union Pacific, and ...