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Western Refining, Inc. Message Board

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  • mrsuerte mrsuerte Aug 26, 2010 12:32 PM Flag

    I'm not selling...someone will buy this co soon....

    why would someone buy??

    if company is making money--why sell
    if company is losing money/why would anyone want it

    why do you think the elpaso refinery went bankrupt before--what has changed for the positive??

    as you just saw a couple months ago--California refinery was in BK--only 1 bidder to purchase
    pennies on the dollar

    that is how these guys got this thing to start with--outta bk--didn't cost them a penney


    the all CASH transaction that was giant
    what do you have to show for that move that wasn't there before???
    some mom/pop corner grocery stores ??--the 1 guy on here thinks those are goldmines
    I never understood how 7-11 went bankrupt with all their goldmines

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    • buying of distressed assets is big nowadays. I would consider WNR a co with "distressed assets". Someone with the cash to buy the co and refit in anticipation that Obama will not be in office for a second term and that jobs and gas demand will eventually come back could really get a deal here and now. Limited refining capacity, no new permits, and all, you know.

      • 1 Reply to jordanriver88
      • good luck with that bro
        I am sure I am not smart enough to grasp "limited refining capacity" when refineries are being/have been shutdown nationwide
        and as more are closed gasoline inventories build

        nor do I understand why only 1 company was interested in buying a refinery (Flying J) that was for sale in BK and sold for the only bid--pennies/$$

        I do not grasp what wnr has done/is doing different than what resulted in elpaso refinery being bankrupt before

        you seem to have a good grasp on the situation so hope it works out well for you

 
WNR
21.19+0.56(+2.71%)Jul 1 4:02 PMEDT