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NuStar Energy L.P. Message Board

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  • kerfinator kerfinator May 30, 2008 10:05 AM Flag


    Indirectly, it is.

    The Citgo buy is a major loser (and yes, he is part of the reason why it is a loser).

    They pay 450M for the deal, and then within weeks post a 60M loss coming out of the gate.

    They diluted the company's stock to buy this waste, and then to make things worse by absorbing a major loss. Can anybody explain to me why they are better off now than before the deal?

    Good luck.

    • the shares have been heading south ever since the deal was announced.

      Doing this deal was outside their main business line.

      Doing this deal with a Chavez company was not a good idea either.

      The sixty-one million dollar hedge loss is a very expensive lesson in how to hedge asphalt product.

      The credibility of management is being tested.

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