Buffett's Berkshire To Buy Burlington Northern

RENEE MONTAGNE, host:

NPR's business news starts with Warren Buffet's big bet.

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MONTAGNE: Buffett is the country's most famous investor, and now he's making his biggest single investment ever. He's spending more than $26 billion to buy a railroad, the Burlington Northern Santa Fe. Buffet has a habit of investing in old-fashioned businesses and says this one shows his confidence in America's economic future. Compared to trucks, trains have lower fuel cost and are generally considered more environmentally friendly.

STEVE INSKEEP, host:

Burlington Northern is one of the country's largest railroads. Its trains handle vast quantities of imports from China, Canada and Mexico. They also move massive amounts of coal and timber extracted from the western part of this country, and they hold tons of grain grown in the Midwest.

Asked why he was willing to spend so much for a railroad, Buffett said, quote, "This is all happening because my father didn't buy me a train set as a kid." Transcript provided by NPR, Copyright National Public Radio.