NEW YORK (Reuters) - U.S. railroad Burlington Northern Santa Fe Corp. BNI.I sees softness in the U.S. economy driven primarily by the housing slowdown, but expects the sector to drive recovery later in 2007, the company's top executive said on Tuesday.
"Housing is clearly No. 1 in terms of softness," Chief Executive Matt Rose said, speaking at the Reuters Manufacturing Summit in New York. "We went into year thinking second half would be stronger than the first all along, primarily driven by housing."
Rose also said that BNSF would be willing to cut prices to compete for market share if U.S. trucking companies start taking business from the Fort Worth, Texas-based railroad.
© Thomson Reuters 2009. All rights reserved.
| Aerospace and Defense | Dec 15 - 17, 2008 | Aerospace/Defense |
| Investment Outlook | Dec 08 - 11, 2008 | Financial Services / Exchanges |
| Media | Dec 01 - 4, 2008 | Media/Tech/Telco |
| India Investment | Nov 24 - 26, 2008 | Country Summits |
| Health | Nov 17 - 20, 2008 | Health |
