Railroads making a comeback
Warren Buffett surprised analysts in November when he purchased railroad corporation Burlington Northern Santa Fe for $34 billion in the midst of a down economy. But as the economy recovers and companies increasingly use trains to ship goods from coastal ports across the country, his bet is looking better and better. Trains, which are more fuel efficient than trucks, are making a comeback in the nation's freight transportation system, which is good news for California, where many train hubs are located.
That surprises many, including Henry Posner III, a railroad owner who was asked three decades ago to help close down railroads in the East Coast and help them through bankruptcy and liquidation. Now Posner and many others see rail as the future.
For more, check out the story in Sunday's paper.
And take a look at the photo gallery.
-- Alana Semuels
Photo: BNSF trains at the port of Long Beach. Credit: Don Bartletti/Los Angeles Times