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Berkshire Hathaway (BRK.B -0.5%) says it's recently completed, ahead of schedule, the sale of...

Berkshire Hathaway (BRK.B -0.5%) says it's recently completed, ahead of schedule, the sale of two short-line railroads it acquired as part of its purchase of Burlington Northern Santa Fe. BRK.A discovered owning the railroads this fall, and sold them to satisfy regulators who might have reviewed its acquisition of the BNSF railroad if it had reported owning them.
Comments (6)
  • How do you not know about owning two small railroads this late after the merger?

     

    You have to roll the results up at quarter end.
    26 Dec 2012, 03:25 PM Reply Like
  • There must be more to this story. it is just too bizarre. Berkshire has the reputation for being very thorough in its acquisitions and for this to crop up after the fact must be very embarrassing to Buffet and company.
    26 Dec 2012, 03:31 PM Reply Like
  • Yes very wierd....lol...I think the Oracle is losing it
    26 Dec 2012, 03:54 PM Reply Like
  • I agree with the two posters.

     

    The article claims that it is just some rail lines but the contracts and use payments have to be registered somewhere, especially since one of the lines was associated with MidAmerican.

     

    This is not like Buffet at all. But how much do I pin it on his team and how much on BNSF? They should have all the contracts in order.
    26 Dec 2012, 04:10 PM Reply Like
  • The line associated w MidAmerican isn't listed in any short line guides or other rail publications. That tells me it exists solely to serve the power plant and is not a for-hire carrier. Ditto the one in Oregon, part of the Union Tank Car arm of the Pritzger, which Berk is in the process of buying. I chalk the whole charade up to the antics of one over-zealous Senate regulator.
    26 Dec 2012, 04:25 PM Reply Like
  • You are probably correct. Care to identify the over-zealous Senate regulator?
    26 Dec 2012, 04:29 PM Reply Like
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