Buffett purchased more of a company that he already owned, a freight rail company. The Ohio and Wisconsin puke Governors are not canceling freight rail:
"Republicans who were elected on Tuesday are beginning to deliver on their campaign promises to kill America's future. Within hours of being elected, the incoming tea-party governors of Wisconsin and Ohio stood fast on pledges to kill $1.2 billion in funding for high-speed rail in their states."
http://wonkroom.thinkprogress.org/2010/11/06/gop-derails-trains/ The article seems to be conflating the two when they have so little in common. Freight rail companies own the tracks and have mandated a maximum speed of 90 mph --far from what I would call high speed rail since Japan, France and Germany have high speed rail which exceeds 200 mph. Thus, any true high speed rail project in the USA would need its own tracks laid, separate from the freight rail tracks, or would need to be an innovative design like that of Tubular Rail (
http://www.tubularrail.com).
Germany is working on MagLev high speed rail that could achieve 3,000 mph in tunnels with the air evacuated, possibly 500 mph in open air.