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November 4, 2009

Buffett makes $34B bet on U.S. future

  • Warren Buffett says of his BNSF purchase: ‘I basically believe this country will prosper and you'll have more people moving more goods 10 and 20 and 30 years from now.'
    • By JOSH FUNK
    AP Business Writer

    OMAHA, Neb. — Billionaire Warren Buffett likes to compare his company to a masterpiece that he's been painting for nearly five decades, and the deal he announced Tuesday will permanently alter the color of Berkshire Hathaway Inc.'s portrait.

    The 79-year-old investor plans to add a brilliant orange section to the painting for the brightly colored locomotives of Burlington Northern Santa Fe Corp. that Berkshire will acquire in a $34 billion cash and stock deal. It will be the biggest deal yet in a career of big deals.


     
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