Buffett’s Berkshire buying Burlington Northern RR

Buffett’s Berkshire buying Burlington Northern RR by Associated Press Posted on November 3, 2009 at 8:01 AMNEW YORK

Warren Buffett’s 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 nation’s second-largest railroad, is the biggest hauler of food products like corn and coal for electricity, making it an indicator of the country’s economic health. The railroad also ships a large amount of goods from Western ports including everyday items such as refrigerators, clothing and TVs.

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