When I saw that headline I thought maybe the Pere Marquette and Nickel Plate berkshires were teaming up to buy BN, turns out it was just Warren Buffet: http://www.foxbusiness.com/story/markets/industries/transportation/buffetts-berkshire-buying-burlington-northern/?test=latestnews
Better keep them running out here at berea! ;D Thanks for sharing! ...$44 billion for a railroad? .... that seems cheap! No wonder Conrail was made!
He already owns 22.6% so that would put the overall valuation closer to $57 billion.
isn't berkshire the ones who bought emd from gm a few years back? or was that blackstone.
evidently, what trains has been saying for several years is true. railroads are on the comeback. the second richest man in the world doesn't buy into something that's going to lose him money.
I hadn't realized that Berkshire had purchased EMD, I only knew that GM had sold them.
" the second richest man in the world doesn't buy into something that's going to lose him money."
I think thats why all railroad stocks were up today :)
here is the reason for this purchase.
"This is all happening because my father didn't buy me a train set as a kid," Mr. Buffett said.
lex
hmmmm.
i wonder if he'll put in an order for santa fe warbonnets, maybe a great northern or two, and a burlington zephyr?
that said, if i had his money, i'd buy norfolk southern. all locomotives equipped with cab signals would get pennsy keystones, the rest would get southern green and gold.....lol the black and white gotta go.
Quote from: jward on November 04, 2009, 03:03:20 AM
if i had his money, i'd buy norfolk southern. all locomotives equipped with cab signals would get pennsy keystones, the rest would get southern green and gold.....lol the black and white gotta go.
Amen to that
cody
Quote from: lexon on November 03, 2009, 09:44:14 PM
here is the reason for this purchase.
"This is all happening because my father didn't buy me a train set as a kid," Mr. Buffett said.
lex
Well will the old BN & ATSF diesels please him now?