#WarrenBuffett #Berkshire #BRK #yahoofinance
Yahoo Finance Live anchors Brian Sozzi and Brad Smith discuss Warren Buffet’s take on a proposed $300 million streetcar investment in Omaha, Nebraska.
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Of course.. ..they want to maintain the ridiculously expensive vehicle transit system to keep costs high. The auto companies destroyed our public rail systems through the 1930s-1950s to get everyone into cars and buses (read about the General Motors street car conspiracy to monopolize public transportation). We had electric street cars as the major form of transportation in most cities..but it was unfortunately destroyed and defunded. Street cars are better at moving people than buses (and free people from the costs of private cars such as insurance, gas, and maintenance). Building a new street car system is a great initiative for Omaha. Make an upfront investment to get the rail going again and costs will be less in the long run.. and improve walkability, bring in more taxes from increased property values, and decrease traffic, pollution, and accidents.
Buffett owns Geico insurance business which insures cars not mass transit streetcar systems so of course Buffett would not want fewer cars…! Conflict of interest in Buffett’s opinion/position…?!
Thank God it was. Light rail is limited to location, requires track’s and electrical lines overheard. Just an antiquated system of a bygone era.
@Les Collins It doesn’t have to be one or the other. Car and insurance companies have been the main beneficiary when our transportation system is monopolized.
facepalm conversation lol
omg Brad, get the basic details before commenting, Streetcar is a mass transit system, not a Street Race car… sheesh
HAHAHA the actual news anchor thought that streetcars was referring to muscle cars. LOLZ x1000
Well, does Warren Buffet get kickbacks from the bus company or does he outright own it?
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