Skip to comments.Berkshire Hathaway sells 2 short-line railroads
Posted on 12/27/2012 12:22:30 PM PST by Western Phil
Warren Buffett's company has sold two short-line railroads it recently discovered it owned to satisfy regulators who might have reviewed Berkshire Hathaway's 2010 acquisition of the Burlington Northern Santa Fe railroad.
Berkshire told the Transportation Department's Surface Transportation Board earlier this month that it had completed the sale of both short-line railroads ahead of schedule.
If Berkshire had reported owning those railroads when it bought BNSF, the Surface Transportation Board would have had to scrutinize the deal. Berkshire first disclosed owning the railroads to the Surface Transportation Board in September.
(Excerpt) Read more at ocala.com ...
I would not exactly call a 6 mile and a 12 mile railroad a big deal in the total scheme of things.
They needed the money to buy properties on the Boardwalk.
"A railroad? What on earth are you talking about? I -- hey! My goodness, I do have a railroad in my pocket! Actually, 2 of them! How do you like that? I completely forgot about those."
Is anyone surprised to hear he’ll cheat the regs, who thinks Lil’ Warren is just some lucky old school accountant? Size of the RRs are not the point, ethics is.
Or has ol’ Warren been tipped by Obama that “the election is over, time to do the Keystone Pipeline now”?
What about the B&O, Reading and Pennsylvania RRs?
Don’t know if the border crossing pipeline will be built, but the portion to North Dakota would certainly be useful to drain off some of Warren’s “windfall”.
I don’t live there now, but the guy that farms our land in southeast Nebraska mentioned some suspicious looking stakes along the road about 1/2 mile east. It is apparently the revised route for the pipeline. We will see what happens. About the time of the Russian Olympics a 36 inch gas line went in about 1/4 mile north of the farm. That was an interesting operation.
There was a story out last year that Warren was getting rich off of Obama stalling the pipeline as he owned the railroad that was the alternative. If Barry is gonna do it now it follows that he’d tip Buffett to give him a chance to dispose of those assets and position himself to make even more money when the pipeline greenlight is announced.
Well, I’ve still got Pennsylvania and B & O, so I’m not too worried about this.
Buffett is a parasite who never produced anything.