How the power players do it - by Fortune senior editor at large Patricia Sellers

Buffett's bet to keep jobs in America

November 4, 2009: 6:56 PM ET

"If you buy a railroad, you can't move it to China or to India or anyplace else. You are betting on the United States. I can't think of a surer bet."

- Warren Buffett, explaining Berkshire Hathaway's (BRKB) $44 billion buyout of Burlington Northern Santa Fe (BNI).

Click here to see Buffett talking about his biggest deal ever with CNNMoney anchor Poppy Harlow.

While the size was a surprise, the bet on America was not. In September, at the Fortune Most Powerful Women Summit, Buffett said he was busy buying stocks and had lots of faith in the U.S. "Our genius in the U.S. is not avoiding problems. It's overcoming problems," he told my colleague Carol Loomis.

Their on-stage conversation--recalling the collapse of Lehman (BCS) and its awful aftermath, and also looking ahead--was terrific. We ran snippets earlier on Postcards. But since Buffett is back in the news, we'll share all 22 minutes:

And if you're curious to know what it's like to work for Buffett, read "How Warren Buffett manages his managers."

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About This Author
Pattie Sellers
Pattie Sellers
Senior Editor at Large, Fortune
Executive Director of MPW/Live Content, Time Inc.

Pattie Sellers has written more than 20 Fortune cover stories including "Marissa Mayer: Ready to Rumble at Yahoo," "Muhtar Kent's New Coke," "Oprah's Next Act", "The $100 Billion Woman" (Melinda Gates), and "Gone with the Wind" (Ted Turner). She co-founded Fortune Most Powerful Women and oversees the Fortune MPW Summit, the preeminent gathering of women leaders in business and beyond—and programs such as Fortune MPW Entrepreneurs and the Fortune-U.S. State Department Global Women Leaders Mentoring Partnership. Pattie also develops Live Content across Time Inc. Her blog, Postcards, is about how power players lead and navigate their careers. Pattie won Time Inc.'s prestigious MVP award for her performance in 2012.

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