Description
BNSF Railway is one of the largest freight railroads in North America. One of seven North American Class I railroads, BNSF has 35,000 employees, 32,500 miles (52,300 km) of track in 28 states, and nearly 8,000 locomotives. It has three transcontinental routes that provide rail connections between the western and eastern United States. BNSF trains traveled over 169 million miles (272 million kilometers) in 2010, more than any other North American railroad.
The BNSF Railway Company is the principal operating subsidiary of parent company Burlington Northern Santa Fe, LLC. Headquartered in Fort Worth, Texas, the railroad's parent company is a wholly owned subsidiary of Berkshire Hathaway, Inc., of Omaha, Nebraska. The current CEO is Kathryn Farmer.
According to corporate press releases, the BNSF Railway is among the top transporters of intermodal freight in North America. It also hauls bulk cargo, including enough coal to generate around 25% of the electricity produced in the United States.
The creation of BNSF started with the formation of a holding company on September 22, 1995. This new holding company purchased the Atchison, Topeka and Santa Fe Railway (often called the "Santa Fe") and Burlington Northern Railroad, and formally merged the railways into the Burlington Northern and Santa Fe Railway on December 31, 1996. On January 24, 2005, the railroad's name was officially changed to BNSF Railway Company using the initials of its original name.
On November 3, 2009, Warren Buffett's Berkshire Hathaway announced it would acquire the remaining 77.4 percent of BNSF it did not already own for $100 per share in cash and stock—a deal valued at $44 billion. The company is investing an estimated $34 billion in BNSF and acquiring $10 billion in debt. On February 12, 2010, shareholders of Burlington Northern Santa Fe Corporation voted in favor of the acquisition.
BNSF and its chief competitor, the Union Pacific Railroad, have a duopoly on all transcontinental freight rail lines in the Western, Midwestern and Southern United States[13] and share trackage rights over thousands of miles of track.
