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Buffett Buys BNSF

Posted by: Alek Miller

4 November 2009 - 12:00pm

Billionaire Warren Buffett took full ownership of the Burlington Northern Santa Fe (BNSF) railroad yesterday, calling his move "a bet on the country." Some say it's a bet on coal and against clean energy.

"At a time when the job-creation potential of infrastructure spending is increasingly propelling the political debate, Buffett's interest in the transport sector could be a harbinger of greater private-sector involvement to come -- thus bolstering Democratic lawmakers as they make the case for more transit, bridge, and road repair money to hasten the nation's economic recovery."

Full Story: Buffett's Bet on Rail: What Does It Mean for Transport and Energy?
Source: Streetsblog, November 3, 2009
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Public transit has suffered from an economic mis-focus, and ironically enough, it has only worsened perennial problems like chronic underfunding and running incomplete systems that can't compete with the private automobile.
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