Posted on 01/06/2010 10:51:15 PM PST by Lorianne
Warren Buffett's recent purchase of Burlington Northern Santa Fe shows the renewed importance of railroads in the global supply chain ___ More than 4,000 miles of train tracks stretch through California, winding up the blustery Cajon Pass and snaking through the desert surrounding Barstow.
Those tracks could be seeing a lot more traffic in the next few years as trains loaded with Chinese-made toys, electronics and clothing roll eastward, connecting West Coast ports with cities across the U.S.
Warren Buffett is a believer. In November, the world's second-richest man paid $34 billion for railroad giant Burlington Northern Santa Fe Corp., despite a deep downturn in the railroad industry. Buffett characterized his investment as an "all-in wager on the economic future of the United States." But it's also a bet on globalization and the renewed importance of rail in the nation's transportation network.
Southern California is a key hub in his new empire. About 40% of all goods that the U.S. receives in containers from overseas enter the country through the seaports of Los Angeles and Long Beach. That freight must then move overland to retailers across the country.
Fort Worth-based BNSF has invested hundreds of millions of dollars in recent years to beef up its Southern California operations to grab a bigger share of that business.
(Excerpt) Read more at latimes.com ...
How I can really tell whether the economy is picking up or not: the amount of freight traffic through our town. Answer: not. I used to be held up at grade crossings all the time. Now traffic sails through. It’s sad (if slightly less annoying).
Any chance we could get him to say he was sorry for that bad idea? Any evidence he's ever admitted he was wrong?
Does anyone have that great jpg of a 'Combat-Ready-Al' bending over the barrel of his M16?
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