Tuesday, December 22, 2009

Buffett Says of Burlington Deal, ‘I’d Rather Be in the West’

"I think the West is going to do well," Buffett told workers of Burlington Northern during an in-house interview with the railroad's chief executive officer, Matthew Rose. "I'd rather be in the West than the East."

The $26 billion purchase of Fort Worth, Texas-based Burlington Northern is the biggest of Buffett's career, and what he called an "all-in wager" on the U.S. economy. Burlington stands to benefit from an increase in shipments of goods from the U.S.'s Asian trading partners, including China.

"I think I know how the country is going to develop," Buffett, 79, said in the interview, which was posted in a video on Burlington Northern's intranet and distributed yesterday in a regulatory filing as a transcript.

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