Not surprisingly, one of the four companies he cited was Fort Worth-based railroad BNSF. It regularly earns plaudits from the Oracle of Omaha. The railroad’s...
Warren Buffett’s annual shareholder letter again singled out the railroad that carried 535 tons of cargo last year.
from the Oracle of Omaha. The railroad’s revenue chugged its way to double-digit growth last year, finishing at $22.5 billion. BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo — accomplishments that exceed its competitors, Buffett said. His letter also paid tribute to the late Paul Andrews, founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire.
Buffett described how the deal transpired. ”One meeting; one lunch; one deal,” he wrote. “To say we both lived happily ever after is an understatement.”, with leading Berkshire Hathaway to its “most important acquisition.” In 2009, Berkshire selected Fort Worth for its directors’ meeting to visit TTI. Buffett arrived early to check up on one of Berkshire’s other investments, BNSF. It owned just under 23% of the railroad’s stock at the time.
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