When American investor Warren Buffett addresses Berkshire Hathaway's shareholders at the conglomerate's annual meeting on Saturday, he is sure to laud the impressive growth of BNSF Railroad, his company's largest-ever acquisition. The railroad, which was struggling amid the Great Recession when Berkshire bought it for $26 billion in 2010, returned a $3.8 billion profit last year. In his annual letter to Berkshire (BRK-A) shareholders in February, Buffett called BNSF, whose 32,000 miles of track spans 28 states, "the most important artery in our economy's circulatory system," handling 15 percent of all inter-city freight across America. Praising BNSF's smooth relations with customers and regulators, Buffett wrote: "Like Noah, who foresaw early on the need for dependable transportation, we know it's our job to plan ahead." Buffett was likening BNSF's foresight to the biblical figure Noah and his vessel.
via Business News - Yahoo Finance http://ift.tt/1s1qtKs
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