Just heard on WLS Chicago, Bershire Hathaway (SP?) is acquiring BNSF for $34 billion.
Story here. Wow.
I heard this story as well on WGN this morning. I don’t expect any immediate visible signs of change but as I live along the BNSF triple track “racetrack” in/out of Chicago it will be interesting to watch and see if there are any long term changes…but I expect not since BNSF is already a well run railroad.
There is an old saying that says:" You can tell the men from the boys by the price of their toys!" [:-^]
Looks loike Warren Buffet just bought the ulitmate boy’s Christmas toy!
A Scale train layout! Only this is called the BNSF!
Hope he finds a tree to put it under! Way, Cool![8D]
I thought he (Berkshire) already owned a substantial stake in BNSF.
Regardless - I don’t think he’s a railroader, which means he’s looking for an investment, which speaks pretty highly of BNSF. I don’t think he’s a “raider,” so we can presume he’s in it for the long haul, as well.
Dear Mr. Buffet: As a fellow Nebraskan, I will be more than happy to watch over your rolling stock for you in the Star City! And when I come to Omaha, can we do lunch?
Yours truly,
Mookie
[8)]
Since my wife and I own Berkshire Hathaway stock I will be calling them to see if I can obtain a cab ride!
$100 a share, about $24 over yesterday’s close. Not too shabby if you owned any BNI!
I hear he is also increasing his stake in Park Place and Marvin Gardens.
Comes as no surprise. Back when we were asked to post what we thought were the top stories of 2008 (whether they were covered in Trains or not), my response was:
Warren Buffett’s 20% stake in BNSF should indeed make the cut. But don’t forget to mention that BNSF’s board on December 11 changed its corporate bylaws to allow stockholders with a 25% stake to call a special meeting. The previous requirement had been 51%. Interesting move, if you ask me.
If you didn’t see this coming, you were too busy counting rivets.
It will be interesting to see what the ripple effects are in the railroad industry. One thought that crosses my mind is whether or not this could lead to an agreement or merger to create a 2nd true transcontinental in North America. The timing is also interesting because the US Senate is now starting its move on climate change legislation and the carbon tax and I would think that would be a major problem for the BN unless the midwest dems break ranks to stop it.
I paid $27 per share for my BNSF stock a few years ago. Dividends have been good and now it will be sold for $100 or traded for Berkshire Hathaway.
All railroad stocks are up today. Fine with me. I own stock in other RR’s, too. …My broker said to divesify, but I said "No, railroads have become very efficient since deregulation in 1980, and the higher energy prices and highway congestion will increase rail market share. "
I own a lot (for me) of BNI stock. No, I didn’t buy it at $116! It will be interesting to see what develops. Berkshire Hathaway also owns a lot of UP stock. Shall we merge? I hope not! I am not an “Uncle Pete” fan, having “traveled” (read: shunted into sidings while five freights pass, going in the same direction!) on their tracks on Amtrak. There IS a law! Fun is afoot!
Park Place and Marvin Gardens, as well as Pacific, North Carolina, Pennsylvania, and Boardwalk are already owned by Donald Trump. Mr. B. doesn’t have a chance! “The Donald Rules!”.
You, and I, should have bought BNI when it was at $16, not too long ago! Hind-sight is wunnerful!
I’m now looking at RailAmerica (RA), down a few bucks from its IPO a few days ago. Got nuthin’ better to do! It’s only money…
Since Warren Buffet enjoys a reputation as a relatively passive investor, this move will allow BNSF management the luxury of concentrating on maintaining and running the railroad without having to worry about corporate raiders.
[(-D] Just unbelievable - astounding ! ! ! Who’d a ever thunk it would have come to this ? Truly this is the big leagues. That’ll surprise - and cuts out - the Wall Street ‘quick buck’ Mergers & Acquistions crowd. But ‘‘They’ll none of them be missed’’ [from ‘‘The Executioner’s Song’’ in the musical operatta The Mikado by Gilbert & Sullivan - how apt; pun not intended].
I do own a few shares - and I agree with Don’s view above. That’a the good news, for my IRA account . . . and my wife has been wanting to invest in Berkshire Hathaway for a few years, so now I suppose that gets accomplished, too
The only places ‘The Donald’ rules - and deserves to live - are his own dunghills. How many bankruptcies have he and his entities been through ? [:-,]
It’s a travesty to mention him in the same paragraph with Warren Buffett. Buffet’s pocket change could buy Trump’s entire empire, with some left over.
Trump, his ego, and his toupee refuse to acknowledge, accept, or work within reality, and his track record for his investors is miserable, if not scandalous. Buffett’s been pretty much the opposite for many years. My money’s on Warren - but Trump, I just ignore - turn the page or change the channel, as appropriate.
- Paul North.
Like the barons of a century ago, is a private railroad car in the offing for the owner?
Maybe passenger trains with buffet cars.