Buffett moves on his new train set, can’t walk to it’s final destination. This, at least to me, sort of skews the relevance of Berkshire wanting to be a “green” company that benefits society. Buffett failed to mention is that Berkshire Hathaway owns a trucking company, McLane, which Berkshire purchased from Wal-Mart Stores, Inc. When traffic travels by rail, society benefits.“ Concurrently, our country gains because of reduced greenhouse emissions and a much smaller need for imported oil. That’s three times more fuel-efficient than trucking is, which means our railroad owns an important advantage in operating costs. Last year BNSF moved each ton of freight it carried a record 500 miles on a single gallon of diesel fuel. Sure everyone in business has to promote what they do, but when they do so by leaving stuff out, well, it just grates on me.įrom the Berkshire Hathaway 2010 Shareholder Letter…” Both of us are enthusiastic about BNSF’s future because railroads have major cost and environmental advantages over trucking, their main competitor. What irritates me is his blatant self-promotion. Do I think he is the be all end all when it comes to investing? Sorry, no. I think he is a very shrewd investor and an uncommonly astute business person.
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