3 posts categorized "Railroads"


BNSF Chairman Matt Rose appointed to Dallas Fed

Matt Rose, who has headed Fort Worth-based Burlington Northern Santa Fe since 2000, was appointed to a three-year term on the board of the Federal Reserve Bank of Dallas. His term starts Jan. 1. Rose is set to become BNSF's executive chairman that day as well. In a prepared release, Dallas Fed President Richard Fisher called Rose "one of the most respected businessmen in the nation.  We are honored to have him serve on our board." The Dallas Fed said that as a board member, "Rose will provide input into regional and national economic conditions as part of the Federal Reserve’s monetary policy functions." Each of the nation's 12 regional Federal Reserve Banks has a  a nine-member board of directors.

-- Jim Fuquay



BNSF is one of North America’s leading freight transportation companies, operating on 32,500 route miles of track in 28 states and two Canadian provinces. The company is one of the top transporters of consumer goods, grain and agricultural products, low-sulfur coal, and industrial goods such as petroleum, chemicals, housing materials, food and beverages.

Prior to his time at BNSF, Rose held several other positions for companies in the transportation industry, including vice president of Triple Crown Services, a Norfolk Southern subsidiary. He began his career as a corporate management trainee with Missouri Pacific in 1981.

He is a member of the board of directors for AT&T Inc. and the U.S. Chamber of Commerce. He is also a member of the Business Roundtable.

Rose holds a bachelor’s degree from the University of Missouri. 



Rose named chairman of BNSF, Ice will become CEO

Matt Rose, who has been mentioned as a possible successor to legendary investor Warren Buffett to head Berkshire Hathaway, has been named chairman of Fort Worth-based Burlington Northern Santa Fe effective Jan. 1. Rose, who has been the railroad’s CEO since 2000, will be succeeded by Carl Ice, a 34-year BNSF veteran who has served as president since 2010 and will hold both titles. The company announced the changes Wednesday, saying Rose will work on strategic matters and long-term planning and Ice will handle day-to-day operations.

Buffett acquired BNSF in 2010. In a prepared statement Wednesday, he said the railroad’s performance “has far exceeded the high expectations I had at the time of Berkshire’s purchase. The combination of Matt’s and Carl’s talents is the perfect arrangement for the future. I consider Berkshire very fortunate to have these men at BNSF’s helm.”

-- Jim Fuquay


BNSF staying in the oil shipping business

Burlington Northern CEO Matt Rose last week at a Montana economic development event said the railroad has invested billions in railcars, locomotives and track improvements to ship crude oil out of the booming Bakken Shale field in North Dakota and Montana, even if the Keystone XL pipeline is completed. Rose said BNSF’s oil shipments out of the Bakken went from 1.3 million barrels in 2008 to 90 million barrels in 2012, and with another 35 facilities for unloading crude oil from trains being built, there will be even more shipments, the Billings Gazette reported.

The story is here.

-- Jim Fuquay


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