NEW YORK ?C Warren Buffett’s Berkshire Hathaway Inc. on Tuesday agreed to buy Burlington Northern Santa Fe Corp., making a $34 billion bet on the future of the U.S. economy.Burlington Northern, the nation’s second-largest railroad, is the biggest hauler of food products like corn and coal for electricity, making it an indicator of the country’s economic health. The railroad also ships a large amount of goods from Western ports including everyday items such as refrigerators, clothing and TVs.Analysts say Buffett is planting both feet in an industry that is poised to grow as the economy gets back on solid ground. If approved, it would be the biggest acquisition ever for Berkshire Hathaway Inc.Berkshire Hathaway already owns about 22 percent of Burlington Northern, and said it will pay $100 a share in cash and stock for the rest of the company, a 31.5 percent premium on Burlington Northern’s Monday closing price. Shareholders have the option to convert their stock for a cash payment of $100 per share or receive Berkshire Class A or Class B common stock. Up to 60 percent of the deal is cash and 40 percent is in stock.“Berkshire’s $34 billion investment in BNSF is a huge bet on that company, CEO Matt Rose and his team, and the railroad industry,” Buffett said in a statement.“Most important of all, however, it’s an all-in wager on the economic future of the United States. I love these bets,” he said.The majority of the stock in the deal will be Berkshire’s “A” shares, but Berkshire’s board also approved a 50-for-1 split of its Class B common stock for holders of smaller amounts of Burlington shares who opt for a share exchange rather than cash. Berkshire’s Class B shares closed Monday at $3,265. With the split, each share will be worth $65.30. Burlington shares shot up $21.33, or 28 percent to $97.40 in morning trading. Shares of other major rails, including Burlington’s larger rival Union Pacific Corp., rose as well.Berkshire also owns stock in two other major U.S. railroads — 9.56 million shares of Union Pacific Corp. and 1.93 million shares of Norfolk Southern Corp., as of June 30.The deal for Burlington Northern has been approved by the boards of both companies, but still needs two-thirds approval of Burlington’s shareholders and antitrust clearance. The railroad expects to clear those hurdles in the first three months of next year.Last week the railroad reported third-quarter profit dropped 30 percent to $488 million, or $1.42 per share, as consumers continued to hold back on buying retail nike dunks and industrial production struggled.Burlington was one of the least optimistic among major railroads about the pace of economic recovery. CEO Matt Rose said consumers are going to be the driver of any improvement in the economy, but no one is buying yet.Analysts say Buffett is looking for an investment that will reap rewards for many years into the future, and isn’t so concerned about immediate gains."(Buffett is) buying at the trough — things aren’t going to get much worse. He’s getting in at a good time," said Art Hatfield, an analyst with investment firm Morgan Keegan.Hatfield said he believes Buffett went for Burlington Northern in part because of its good management nike shoes team, an important aspect in any of the billionaire’s deals.Hatfield also said that Burlington Northern has been more progressive than its peers in developing new technology, allowing to be more profitable. Major railroads have been able to slash costs during the recession by cutting jobs, parking railcars and making strides to improve train speeds and other metrics that improved efficiency.___AP Business Writers Josh Funk in Omaha and Deborah Jian Lee in New York contributed to this report.
Adjusting the Deck before final bonding :
Claudio
just to let yas know its going really well.
its gunna look great when its finished ,
iam using the delta complete tune from karma64.
ive even got the zzap space station remember the cover ?
should take another week or 2 to finish
Website I designed for cash advance Edmonton company.
definitive deck bonding ! it was time !!!
…
Claudio
Progressing between a Vuitton Trophy watching regatta and the Delta construction.
Here the paper sail simulation !
…
Just in case you want to follows the events- some races are fantastic !!!
http://www.louisvuittontrophy.com/home/
Cheers
Claudio
Would you happen to have a diagramm of the LV course?
Sorry I didn’t find anywhere me to.
Just a classic two buoys course of 2 miles per leg to be repeated twice. Each leg shall be shorter then 20 minutes for the first boat pending cancellation of the race. It happen today again. Winds are 3kn to 11kn since 3 days.
I have this virtual image only :
…
Cheers
Claudio
Merci!
Still progressing. Sail ready and adjusted + color change tested on this model in view of the next boat model called Fucsia.
Battery under charge . Testing next Week End.
Claudio
Claudio - The sail looks nice but doesn’t all that support rigging generate a lot of drag? I would think that this would offset any performance gain the delta rig would offer.
Niel
May it looks like that, there there’s also no slot to worry about, and no mast to block the mainsail.
no more rigging/windage than any other mast other than a free stander…
…the story get to an end :
…
Ready to go in the water tomorrow !! Sheeting adjusted and sail checked with air blower !!
Claudio
Too bad you don’t have a smoke machine for your blower…
Happy and Mad at the same time !!!
The game lasted for 10/15 minutes. The boat started to get crazy, moving sail and rudder by itself, we suspected the usual radio interference, instead all was clear.
Pierre arrived, telling us that he got last week the same experience after about 10 minutes. The source of troubles was clealy identified to be the chip servo whinch bought for 13.70€. The substution with a good quality servo arm resolved the problems. Actually the two servos are in the bin.
The idea was to make nice pictures and a video, it will be for another time, just a couple of picture to shows that the boat was floating . I’m so mad that I forgot to tell that the boat is much faster then the RG65 present at the pond.
This is servo I’m talking about : http://www.r2hobbies.com/proddetail.php?prod=rcps91116_10y
Obiously I will go back to a servo arm like HS645MG from Hitec.
My grandpa told me, never abbandon your way if not sure of the new one…
Cheers
Claudio
Hi Claudio -
how was the performance of your boat going to weather compared to the RG ? Better (closer to wind) - about the same as the RG -or- not as good (the RG sailed closer to the wind)? I ask because of the leading sail edge possibly being distorted by the wind - unless you have a small diameter carbon tube for the forestay.
Thank you
Dick
Looks real sharp…
quick comment… sincc the mainsail determines which tack you are on, port/starboard, you should a fix an itty bitty main and boom on the aft end of the mast that perpetually puts you on starboard tack…
Hi Dick, appears to be better overall but sailed too short time to verify in more in details.
This morning I tested at home for about one hour and the servo did not made any false movements, Very strange ! Before introducing any mods I want to check on the water again !
Cheers
Claudio
Hi Marc,
no need for that just I keep the boom as close to 15° from apparent wind. Forget about Main does not exist, therefore only one thing to manage : the incidence of the jib since acting like a airplane wing ! Is indeed a different method of steering !
Noticed very high speed on close reaching and reach.
Cheers
Claudio
This is the servo that most recommend for the RG65: http://www.shop-uk.high-torque.com/product_info.php?info=p118849_GWS-Mighty-Micro-Metal-Gear-Servo-with-JR-Hitec-Futaba-connectio.html&MSsid=ff635b3fa05e32ba529525d033b3bf0d enough torque and half the weight of your winch type.
If you reallly must have a winch type, http://www.shop-uk.high-torque.com/product_info.php?info=p118928_GWS-S125-1T-360-deg-Sail-Winch-Servo-w-JR-Hitec-Futaba-connectio.html can also be recommended.