Matt Rose, chief executive officer of Warren Buffett’s railroad, said he is counting on deliveries of manufactured goods to build the business after coal shipments declined amid reduced demand from power plants.
Burlington Northern Santa Fe LLC, the railroad owned by Warren Buffett’s Berkshire Hathaway Inc., will boost crude-oil shipments by 40 percent this year, helping blunt a decline in coal cargo, Chief Executive Officer Matt Rose said.
Warren Buffett , the 80-year-old chief executive officer of Berkshire Hathaway Inc. , added a name to a list of potential successors a year after his $26.5 billion railroad takeover brought manager Matt Rose to the firm.
Ted Weschler’s first job after college was at chemical maker W.R. Grace & Co. In 2007, six years after the company filed for bankruptcy, his hedge fund held 15 percent of the shares. That’s when he called Joe Rice.
General Electric Co. and Caterpillar Inc., the world’s largest locomotive makers, are rushing to develop natural gas-powered models in a potential shift from diesel’s six decades as the fuel of choice for railroads.
CTB Inc., the farm-product business owned by Warren Buffett’s Berkshire Hathaway Inc., named Doug Niemeyer as chief operating officer, responsible for units related to grain, poultry, egg and pig production.