Thursday, December 11, 2008

China, Buffett Both Up Investment in Coal Haulers

From Forbes:
China to spend 150 bln yuan on railways in coal region

China plans to spend more than 150 billion yuan ($21.8 billion) over the next six years to add some 2,000 km of railway track in the coal-rich region of northern Shanxi province, the Xinhua news agency reported on Sunday.

The construction projects are expected to help boost domestic demand and counter the impact of the global financial crisis, said Zhang Baoshun, Communist Party Secretary of the Shanxi provincial committee....MORE

From CNBC:

Warren Buffett's Burlington Northern Stake Rises To Almost 20% After Options-Related Stock Buy

Burlington Northern train
Berkshire Hathaway's stake in Burlington Northern Santa Fe is up to 19.83 percent, after Warren Buffett's holding company bought 3.3 million additional shares on Monday and Tuesday.

It reported a stake of about 18.9 percent as of October 28.

In a filing with the SEC tonight (Wednesday), Berkshire says it bought the Burlington shares at $77 and $80 a share after 'put' options it sold were exercised....MORE