Warren Buffett has no desire for planned streetcars in his hometown of Omaha

Omaha, Neb. — Billionaire investor Warren Buffett broke with his practice of staying out of local politics to urge his hometown of Omaha to abandon its planned streetcar project because, he says, it's too expensive and not as flexible as buses.

Buffett wrote a letter to the editor of the Omaha World-Herald and met with the mayor this week to lobby against the $306 million project and urge the city to let residents vote on it.

But city officials are moving forward with the streetcar because they believe it will spur development, including Mutual of Omaha's planned $600 million headquarters tower downtown.