Bloomberg manages to write an entire news article on plans for a bullet train between Los Angeles and San Francisco to be funded by $2.3 billion in federal funds and a $10 billion state bond issue. Among the companies the Bloomberg article mentions that might benefit from the project: Alstom SA, Siemens AG, East Japan Railway Co., China South Locomotive & Rolling Stock Corp., Bombardier Inc. , Hitachi Ltd., and General Electric, which has "teamed up" with China's Ministry of Railways "in a bid to win U.S. contracts." Not mentioned, astonishingly, is Warren Buffett/Berkshire Hathaway's Burlington, Northern, and Santa Fe Railroad, which owns a lot of the track and right-of-way that is going to be used for this taxpayer-funded project to compete with privately owned airlines.
The Buffett That Didn't Bark
by Ira Stoll | Related Topics: General Electric, Press, Reverse Robin-Hood, Stimulus, Warren Buffett receive the latest by email: subscribe to the free futureofcapitalism.com mailing list