Buffett’s big bankroll buys Burlington Northern, bets Bituminous
Yesterday, Berkshire Hathaway, the investment vehicle of billionaire Warren Buffett, announced it is buying up the remaining shares of railroad company Burlington Northern. It’s a big bet on American rail, and a big bet on the American economy. It’s also a telling sign of Buffett’s belief that Americans aren’t quite ready to go green, since almost half of Burlington Northern’s cargo last year was coal. We speak to Phillip Longman, senior research fellow at the New America Foundation and author of ?The Next Progressive Era: A Blueprint for Broad Prosperity.? Also with us is T.J. Stiles, author of ?The First Tycoon: The Epic Life of Cornelius Vanderbilt.?
The World is an independent newsroom. We’re not funded by billionaires; instead, we rely on readers and listeners like you. As a listener, you’re a crucial part of our team and our global community. Your support is vital to running our nonprofit newsroom, and we can’t do this work without you. Will you support The World with a gift today? Donations made between now and Dec. 31 will be matched 1:1. Thanks for investing in our work!