Another consideration is that the Big 3 (not KCS or the regional conglomerates, and not Berkshire) pay dividends. They're not among the highest-dividend stocks out there, but they do pay, and for the last 10 years or so their rate has generally been above reasonable (not ridiculously long-term, or junk) savings or bond interest rates. Assuming they're now too big to fail (hee hee), that kind of thing is useful: buy a modest amount of stock, and reinvest the dividends. For people in low tax brackets, the tax rate on dividends at the moment (will the Bush cuts continue?) is near zero, but you pay ordinary income rates on interest. Of course, brokers hate buy-and-hold people. And you do need enough up front to get a no-fees account (usually $2.5-5k).