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Article: On track for a big rebound.(Business)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- November 8, 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 Mary Jane Credeur and Keith Naughton
Bloomberg News Service
Warren Buffett's $26 billion purchase of Burlington Northern Santa Fe Corp., the largest U.S. railroad, might attract more investors to an industry undergoing a "once-in-a-lifetime comeback."
"Railroads have just gotten the biggest endorsement they possibly could," said John Mims, an analyst at BB&T Capital Markets, who recommends buying Burlington Northern. "This will get people off the sidelines in an industry they've been wary to invest in. We'll probably be saying in 10 or 15 years that a new rail renaissance began with this acquisition."
Rail shares rallied after ...