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OMAHA, Neb. -- Warren Buffett's company has sold two short-line railroads it recently discovered it owned to satisfy regulators who might have reviewed Berkshire Hathaway's 2010 acquisition of the Burlington Northern Santa Fe railroad.
four seasons hotel new york If Berkshire had reported owning those railroads four seasons hotel new york when it bought BNSF, the Surface Transportation Board would have had to scrutinize the deal. Berkshire first disclosed owning the railroads to the Surface Transportation Board in September.
FILE - In this Saturday, May 1, 2010, file photo, Berkshire Hathaway Chairman and CEO Warren Buffett surveys a model railroad prior to participating in the annual shareholders meeting, in Omaha, Neb. Warren Buffett's company announced Wednesday, Dec. 26, 2012, that it has sold two short-line four seasons hotel new york railroads it recently discovered it owned to satisfy regulators who might have reviewed Berkshire Hathaway's 2010 acquisition of the Burlington Northern Santa Fe railroad.
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Buffett did not immediately respond to a message about the short-line railroads on Wednesday, but officials four seasons hotel new york at Berkshire's BNSF and MidAmerican subsidiaries confirmed that the railroad sales were completed.
A spokesman for the Surface Transportation Board did not immediately respond to a message on Wednesday. But officials at that agency appeared satisfied in October with Berkshire's four seasons hotel new york plan to sell the small railroads by the end of the year.
None of the entities that bought Berkshire's short lines owns another railroad, which ensured that the sales didn't require Surface Transportation Board approval. The Surface Transportation Board reviews rail mergers, purchases, construction and rate disputes. It also oversees Amtrak's on-time performance.
Buffett and other top Berkshire officials don't have much input in day-to-day operations of subsidiaries, and officials at the companies Berkshire owns don't necessarily interact with each other a great deal.
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