as for burlington northern the company tells us its proud their own internal inspection program they believe goes abovened beyond federal requirements. >>> 4:42. one communication giant points to gobble up another. >> and one more part of the triple crown to go and a hook at what could be another winner in the works but there's an obstacle. ,,,,,,,,,,,,,,,, violent weather has also triggered up to three thousd landslides... at least two dozen people he died... that number is expe to grow. marlie hall has the latest on what authorits are calling the flood of the century. ((pkg)) (track - sund159) helicopters could only resc victims one by one after mae flooding hit croatia, serbid bosnia over the weekend. the months' worth of rain fell the region in three days. ts man and thousands of others were forced to evacuate the homes. (nat - sund234 @ 1:14 bosnian - anto zuparic, evacuated villager) (track)e says "water took everything away, i had cattle, the ani probably drowned" (track sund030, sund234) in many p of bosnia only rooftops and tree tops could be seen from above. on the ground,

. >> reporter: burlington northern has done repairs. >> look right here. here is the spot that was patched last week. he wonders what say patch job going to do? >> i think it is time for an upgrade. >> reporter: back to you. >> governor brown's budget calls for $8 million in funding for railroad safety including a bridge oversight plan to be run by the puc. as for burlington northern they tell us they are proud of their inspection program that goes above and beyond federal requirements. >>> well, calmer winds and cooler temperatures tonight have been a big help in san diego county. gaining control of a fury of wildfires that destroyed 47 homes. all evacuation orders have been lifted but four of the fires are still burning tonight. we report that the governor's warning things will only get worse. >> humanity is on a collision course with nature. >> reporter: jerry brown says california could be in for the worst wildfire season ever, he says climate change is to blame. >> as we send billions and billions of heat-trapping gases we get heat and fires and with

we brought up the point that burlington northern is still paying berkshire a dividend and mid american does not. mid american is able to use that cash to go out and buy other things. >>how about the succession? that's always a question. you have an inkling about that. >>i think from the succession perspective we're looking at ajit jain. we think he's probably the best capital allocator in chief that warren can bring in. >>what about his son warren buffett jr? >>howard is actually going to be the chairman of the board. that's already been spelled out. he's currently taken on some of the director roles like on the coca cola board. he's definitely in that chairman role. he's sort of protecting the culture of berkshire longer term. >>gregg warren from morningstarthanks so much. >>thank you. thanks for talking buffett- paloza bill. still ahead-- what one market pro has discovered about a cable stock. a private viewing is next in chart talk. matt shapiro,president of mws capital, joins us for chart talk this morning. good morning matt. >>good morning angie. >>you tend to invest heavily in th

street just north of [inaudible] should. entering port property. the lead is jointly owned by burlington northern santa fe and [inaudible] and union specific role. ub is the sole operating on. there's an urgent need to upgrade the track to increase the reliability and efficiency of rail service to the ports and provide capability for us actual locomotives to enter the port. here's a map of the lead. what have we done? the port applied for and fra rail line and relocation grant in october of 2010. we were notified of a $3 million award in september of 2011. the grant requires a 10% match making this a minimum of $2.2 million project. during 2012 and 2013 port staff completed pulmonary engine and work with the fra to develop project scope that fit the budget and meets the intent of the grant award. port staff applied for and received negative declaration from the city planning department and in april of 2013 and then in october 2013 we were here before the commission were you authorize us to accept and expend the grant funds. it's been a while and the holdup has been with the [inaudible] process. a

liz: does it hurt eventually if more and more people go to electric cars, does it hurt burlington northernlroad? a huge amount of the car doe on your railroad is oil to, facile fuels, warren. >> yeah. well, it'd be a lot of oil. and there's a choice about something haha's good for berkshire and good for the world, we vote for good for the world, absolutely. liz: regardless of what's good -- >> absolutely. cheryl: we are, of course, going to have a lot more of what mr. buffett, mr. gates and, of course, charlie munger had to say. you want -- don't want to miss what mr. buffett had to say about the possibility of relocating berkshire hathaway outside of the united states. not just omaha, the united states. we're going of to have a lot more coming up. the best, the brightest highlights during this hour from, of course, her interview with warren buffett this morning. let's get back to our markets here in new york. we've got traders standing by at the floor show, the new york stock exchange, the cme group and the nymex. ben willis, you know, certainly we had a lot of volatility. i know volume i

he owns a company called justin boots, pretty fascinating, and always ends up at the burlington northernchoos. pretty fascinating. that was his biggest acquisition ever. he also has a $100 billion stock portfolio. also recently, general motors. and, of course, you know, general motors has had that recall of 6 million cars. here's what he had to say about the developments with that company. >> i had lunch with mary barra just about a week ago. and she's dynamite. you couldn't have a better executive, general motors, in my opinion. now, i don't have the stock. it's one of the two managers. but i was really impressed. she's a car ride. she knows more about cars, and she's just right in every respect. >> including in the way she has handled the recall? >> yeah, yeah. i've been in a spot like that or two. somebody did something i had to answer for. and it's not easy. one thing you'll find interesting. when she came to the office, i pulled out a few general motors reports. and the earliest one i had was 1910. yeah. i think she was impressed by that. doing my research. >> reporter: warren buffe

i am thinking greg able, possibly jeep jane, and burlington northern.ney is on this crowd here. the power to prosper. i will say this one for you, but coming up on monday, 9:30 a.m. eastern, this is something fox business we are the only ones to have it. warren buffett, charlie munger and bill gates. they sit with us the first hour of trade for the market. a big exclusive to have them in the first hour of trading. their opinions definitely matter and move the market. send me a question. tracy: that is awesome. i'm loving interview in the school also. thank you. >> what a week. first, we learn that china taking over as number one economic power in the world, then we learned that the administration may have misled us about benghazi. only 67% of obamacare envoys have actually paid for coverage. tonight, if the white house thinks this job report is going to erase all that company may have another think thing coming. i am david asman and four neil cavuto. all they we have been hearing everyone celebrated new jobs numbers. but we are

i am thinking greg able, possibly jeep jane, and burlington northern.is on this crowd here. the power to prosper. i will say this one for you, but coming up on monday, 9:30 a.m. eastern, this is something fox business we are the only ones to have it. warren buffett, charlie munger and bill gates. they sit with us the first hour of trade for the market. a big exclusive to have them in the first hour of trading. their opinions definitely matter and move the market. send me a question. tracy: that is awesome. i'm loving interview in the school also. school also. thank you. ♪ oh-oh, oh, oh, la, la-la, la-la, la-la ♪ ♪ na-naa, na-na-na-na-na some things just go together, like auto and home insurance. bundle them together at progrsive, and you save big on both. ♪ oh, oh-oh, oh, oh hey, it's me! [ whistles ] and there's my dog! [gasps] there's my steps! i should stotalking. perfectly paired savings. now, that's progressive. >>> new developments tonight in the benghazi scandal at the center of these coach. s developments, an incriminates e-mail. the white house

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i am thinking greg able, possibly jeep jane, and burlington northern. for you, but coming up on monday, 9:30 a.m. eastern, this is something fox business we are the only ones to have it. warren buffett, charlie munger and bill gates. they sit with us the first hour of trade for the market. a big exclusive to have them in the first hour of trading. their opinions definitely matter and move the market. send me a question. tracy: that is awesome. i'm loving interview in the school also. school also. thank you. my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrictions. hey thanks for calling my doctor. sure. pradaxa is not for people w

also, matt rose, the executive chairman of the burlington northern santa fe railway.ople to talk to this morning. right now, back to joe. he h

. >> we talked about burlington northern santa fe. charlie was on board immediately.fast. he doesn't waste any time making arguments just for the hell out of it. i would say the quality we share were rationale. >> what's something you thought would be a great idea until you talked to charlie? >> if you go back far enough, i called him on the pittsburgh and west virginia railroad. this was 4 years ago. i said we have to put everything in. and he said to me, if you studied it carefully, you know all the facts, you're going to pay attention to it, you're foggy to put a lot of your own money in it. i said i'll just shut my eyes and say no. >> and was he right? >> he was right. that's the irritating point. if you take the batting average, he's been right a high percentage of the time. >> you in california right now but you make it out every year for this thing. what's important about coming and seeing the people at berkshire. >> it's a very remarkable experience to go back to your hometown every year. and as part of something as big as berkshire which keeps getting bigger

also, matt rose, the executive chairman of the burlington northern santa fe railway. we have a big lineup, a lot of people to talk to this morning. right now, back to joe. he has breaking news. you okay? >> yes. you have this. i'm told your husband had it, too. >> i'm sorry. >> andrew had it. >> everybody had it. >> andrew had it. >> tag, you're it. >> i don't feel that bad. yes, exactly. some people, you get sent home. if i'm going home, someone has to send me home. it's jobs friday. >> i'm okay. i'm in omaha. >> i need to be here. >> there's a big bubble between us. >> plus i need to show off my haircut. retrofitting of the toupe. >>> astrazeneca rejecting the offer from pfizer of $106 billion. the uk government says the final decision will be up to shareholders even though it's already pushing pfizer to commit to keeping jobs in britain. pfizer also adding more cash to the mix, upping it from 30% to 32%. and the company hit previously hit over 99, now it's -- they're rejecting the second offer as well. and in an attempt to get the british government on board, pfize

that's union pacific, burlington northern you want to do it but can't, those who want to do the derivativeome people worried about peak margins but they have the railcars. >> down dow is down 35. mary thompson on the floor. >> a broad-based decline following yesterday's record performance for the dow and s&p 500. today a little weakness. again as i said, broad-based decline. seeing strength in utilities and that's about it. today traders keeping watch on retailers as a number came out with their results and seeing whether or not home builders get a bid today for a couple of reasons we do have the yield on the ten-year, 6.5 month low and reports out there saying regulators are looking at ways to maybe loosen up the mortgage lending market. you can see that home builders right now are under a little bit of pressure. also keep watch on copper because it's getting a lift this morning that news in china they're trying to speed up the mortgage application process. giving a lift there could be more demand for copper in that economy there. lastly take a look at the emerging markets. we're seeing a

the hard assets if you look at buffett's recent acquisitions a couple years ago he bought the burlington northern santa fe very well he bought the whole railroad took apart of what's a river it's a hard ass it's his land right away mining right signals yards which is rolling stock and cetera and has a railroad make money it moves hard this it's coal we corn steel cetera so it's the ultimate heart of supply buffets next big acquisition was oil and natural gas resources and by the way he can move his oil on his own railroad because you want one hundred tanker cars it's a pipeline a will he doesn't need the keystone pipeline so i see buffett is a guy was dumping paper money getting into hard assets to matter what happens to the dollar his stuff is still valuable so i think investors can do the same thing maybe we can all buy a railroad but you can buy a little bit of gold land fine art there are some hard assets you can buy that will preserve your wealth now according to some investors like mark faber basically all asset classes are overvalued farmland aren't everything right now so are you concerne