Wall Street Mega bucks Warren Buffett and his billion dollar company Berkshire Hathaway Inc is paying $34 billion for Burlington Northern Sante Fe Corp. Wall Street Grand LLC, a leader of Investor Relations in the small-cap arena, is pleased to share with the investment community and Wall Street Grand Club members about market moving news. Warren Buffet’s move is seen as a positive step in the future of the American economy. Such a purchase into the railway system leads investors to believe that Buffet is confident in the outlook of American industries which heavily involves the railways. According to Buffet this is a major bet in which he is hedging $34 billion dollars against the economic recovery.
Burlington Northern Santa Fe Corporation, through its subsidiaries, engages in the freight rail transportation business. It transports various consumer products, which include motor vehicles and vehicle parts; and industrial products comprising construction, building, petroleum, chemicals and plastic, and food and beverages, as well as cotton, salt, rubber and tires, and miscellaneous boxcar shipments. The company also transports coal products; and agricultural products, such as wheat, corn, bulk foods, soybeans, oil seeds and meals, feeds, barley, oats and rye, flour and mill products, milo, oils, specialty grains, malt, ethanol, and fertilizers. As of December 31, 2008, Burlington Northern Santa Fe operated a railroad system consisting approximately 32,000 route miles in 28 states and 2 Canadian provinces. The company was founded in 1994 and is based in Fort Worth, Texas.
BNI) Burlington Northern Santa Fe Corp is up this morning approximately 30% this morning on news that Berkshire Hathaway is paying $1.00 a share incorporated in the $34 billion dollar deal.