|
|
Article: Buffettbuying railroad.(Business)
- Article from:
- Daily Herald (Arlington Heights, IL)
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 Paddock Publications. 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)
|
Byline: Samantha Bomkamp Associated Press
NEW YORK u Warren BuffettAEs 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 nationAEs second-largest railroad, is the biggest hauler of food products like corn and coal for electricity, making it an indicator of the countryAEs economic health. The railroad also ships a large amount of goods u including everyday items such as refrigerators, clothing and TVs u from Western ports like Los Angeles, Long Beach, Calif., and Seattle.
Analysts say Buffett is planting both feet in an industry ...