Perry swings and misses on Buffett’s business acumen
The article Perry swings and misses on Buffett’s business acumen makes some interesting points.
When asked about the “Buffett rule,” which says Americans making more than $1 million a year should pay, at minimum, the same tax percentage that the middle class does, Perry said Buffett doesn’t know “what’s going on out there in the real world.”
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During the decade that Perry has enjoyed a lifestyle made possible by Texas voters and taxpayers, the Berkshire Hathaway CEO has pumped a considerable portion of his company’s resources into Fort Worth.
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In early 2010, Buffett acquired Fort Worth-based BNSF Railway.
That would be the BNSF that announced in February it would spend $3.5 billion this year to upgrade railroad tracks and buy equipment as the company reinvests to keep pace with a growing volume of freight shipments.
The BNSF that is slated to spend $450 million on 227 new locomotives and $350 million on new rail cars that will be built by GE Locomotive, which is moving to Alliance Airport — with the help of Texas Enterprise Fund money — in large part because of Buffett’s BNSF.
To paraphrase something I heard, “Perry is another George W. Bush, but without the business acumen.”
(For those who don’t get the joke, George W had no business acumen.)