Billionaire investor Warren Buffett broke with his practice of staying out of local politics to urge his hometown of Omaha to abandon its planned streetcar project because he says it's too expensive and not as flexible as buses.
Buffett wrote a letter to the editor of the Omaha World-Herald and met with the mayor this week to lobby against the $306 million project and urge the city to let residents vote on it.
“Residents can be far better served by extended or more intensive service by the bus system,” Buffett wrote. “As population, commerce and desired destinations shift, a bus system can be re-engineered. Streetcars keep mindlessly rolling on, fueled by large public subsidies. Mistakes are literally cast in cement.
Buffett said that he would vote no on the project if he was given the chance, but the city isn't required to hold an election. The project has been moving forward with little significant public opposition since it was announced in January alongside Mutual's new headquarters.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Warren Buffett jumps into local politics to fight Omaha streetcar projectBillionaire investor Warren Buffett broke with his practice of staying out of local politics to urge his hometown of Omaha to abandon its planned streetcar...
Leer más »
Warren Buffett eviscerates streetcars — and calls for buses insteadWarren Buffett eviscerates a $300 million streetcar project in his hometown as a 'mistake ... cast in cement.' Here's why he thinks buses are a better bet.
Leer más »
Why Warren Buffett switched to Coke from Pepsi after nearly 50 yearsWarren Buffett drinks 5 cans of Coke every day. Here's why he switched from Pepsi after nearly 50 years.
Leer más »
How Warren Buffett, Ray Dalio inspired Wladimir Klitschko's family officeBoxing legend Wladimir Klitschko is fighting on the front line to defend Ukraine – here's how investing legends Warren Buffett and Ray Dalio inspired the head of his $100 million family office
Leer más »
Opinion | Joe Biden is in the Oval Office. So are Elizabeth Warren’s ideas.Opinion by Perry Bacon Jr.: This is not the Warren presidency, but it’s certainly a Warren-infused presidency.
Leer más »
Is This 'Beware of Billionaire' Hunters Sign Real?An image was digitally created after a construction tycoon was arrested for hunting in a protected sanctuary.
Leer más »