Have you heard? Billionaire mogul Warren Buffet is buying a railroad. In November, his company, Hathaway Inc., proposed a $26.3 billion acquisition of Burlington Northern Santa Fe Corp. The Federal Trade Commission finished its review of the deal today, prompting Buffet’s company to predict that the deal will close by the first quarter of 2010. Burlington Northern operates 32,000 miles of track in 28 states. It is a major line for coal, grain and consumer goods.
So what does Buffet, one of the most successful investors in history, want with a railroad? According to this article from CNN Money, railroads are the transportation modes of the future. With focused investments over the last two decades, railways have more than doubled the productivity of their engines, and have quickly become the standard bearer in green energy.
- For instance, did you know that trains get 80% better mileage today than they did in 1980?
- And, did you know that the trains use 65% less fuel and create 65% less greenhouse gas emissions than tracks — when calculated for distances of greater than 1,000 miles?
With efficiency already up, the bid by Buffet is likely to push the railroad industry well into the next decade. New job creation is booming, as manufacturers of everything from corn to coal to consumer goods are increasingly turning to the rails for faster, cheaper and greener shipping alternatives.
Do you want to land a job on the fast growing railroad? Check out JobMonkey’s newest Guide to Railroad Jobs.