I find it hard to believe that so many here are just blissfully content to defend the company while they refuse to say anything at all on their own behalf. There just is no good reason for new investors to deploy cash here nymore. The yield is far too low and not growing. The distribution coverage is suspect. The trophy asset sale seems to not be quite as shiny and beautiful as it once was.
EVEP was a supermodel last night. this morning you realize she has false teeth, body odor, farrtts a lot, and wont shut up about how her last boyfriend let her take the G4 on weekends
I would not describe us as blissfully content with the stock's performance. But instead of whining about it and calling on the SEC to indict the company's management, I am willing to understand the process and the securities laws legal constraints that so many posters simply do not understand. The fact is that any transaction process has risks that a deal will not occur. Look at Dell as an example. If their deal is voted down, the stock will probably decline (and they have a signed agreement). EVEP never promised a successful conclusion. They indicated that they expected a closing by year-end and something changed. But the process was not terminated. Many here simply do not understand that the SEC disclosure requirements do not require that a company give blow-by-blow updates. Many do not understand that bidders can walk away before an agreement is signed, even if they submitted a bid (they may not get their diligence costs reimbursed if that was part of the bidding process or they could lose a deposit if one was required as part of the process of bidding).
Again, I keep asking posters who are complaining, what they would have the company say or do to make you feel better and no one mentions. You just complain that they should be saying something. Well they did say something back in December and it wasn't enough to give you or the market any more confidence. If you were long, maybe you should have hedged just in case a deal did not occur.
There's a huge difference between minimum legal disclosure requirements and treating your unitholders with respect so that they feel comfortable with their investment and continue to make subsequent investments here. The Dell shareholders know there is a deal in progress, they've not gone through 2 months of silence after htearing for a FULLYEAR that a deal would close by year end.
EVEP has no legal constraints preventing disclosure. It is a CHOICE they have made. They chose to put out the close by year end BS. They have now chosen silence and the destruction of the unit price. They chose to award themselves incentive stock grants too. What would I have EVEP say? the truth. simple way to live life. I don't need blow by blow updates. But I got constant claims of close by year end last year. Now they can't be bothered to say what is happening. Why they were so wrong. As for what they said in december, they didn't say anything more than they wouldnt have a deal ANNOUNCEMENT by year end.
Always remember EVEP chose their disclosure strategy in 2012. They were under no obligation to proclaim to the world that they would close by year end. They chose that strategy. The market pummeling us is the consequences of that strategy. They over promised and under delivered, Someone should pay. Unfortunately, the ones paying are us.