Buffett’s bet to keep jobs in America
“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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Patricia Sellers has written some of Fortune's most talked-about cover stories, including "Can Meg Whitman Save California?", Melinda Gates ("The $100 Billion Woman"), "MySpace Cowboys," Martha Stewart ("I cannot be destroyed"), Ted Turner ("Gone with the Wind") and Oprah Winfrey ("Oprah Inc."). And she has broken ground with insightful pieces on career management issues such as ego ("Get Over Yourself!"), and "Charisma: Do You Need It? Can You Get It?" Pattie chairs the annual Fortune Most Powerful Women Summit, the preeminent gathering of women leaders in business, philanthropy, government, academia, and the arts. And she has helped oversee Fortune's "Most Powerful Women in Business" cover package since its launch in 1998. She started at Fortune in 1984, covering the big consumer brand companies.
