Berkshire Deal Could Raise Rail Rates, Sens. Say

Law360, New York (March 14, 2011, 2:12 PM EDT) -- Two U.S. senators Thursday called for the Surface Transportation Board to intervene in order to ensure Berkshire Hathaway Inc. does not unfairly raise shipping rates on railroads operated by Burlington Northern Santa Fe Corp., which it acquired in 2010.

In a letter to STB Chairman Daniel R. Elliott III, Sens. Al Franken, D-Minn., and David Vitter, R-La., said they feared Berkshire would pass the costs of its $30 billion acquisition of BNSF on to farmers and businesses in their states.

Warren Buffett's holding company announced in...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.