Mr Run:--- The ETP story by Forbes that you had a day or two before my Forbes mg. arrived is some story> I see on the news tonight ETP is offering 7,500,000 com.unit shares. I guess this guy found a seller or maybe he just wants to get into the G&P biz somehow
ETP is the LP toll collector. ETE is the GP that collects the IDR's from ETP. From the Forbes Article--- >>>Energy Transfer Partners, which holds the assets, and Energy Transfer Equity, which operates ETP for a fee and also holds a 39% share in ETP. Exploiting this baroque arrangement, Warren draws no salary. Instead, he owns 19% of ETE; the more he hands out to investors via that company, the bigger his payday. Together the two companies have a market value of $14.4 billion.<<<
Warren holds a big chunk of ETE which holds an even bigger chunk of ETP.--->> Also
>>>energy billionaire Dan L. Duncan owns 18% of ETE--<<<
Now with the additional units being sold they will siphon off more money from ETP to ETE into Warren and Duncan's pockets. Warren draws no salary. That means he is making a lot of money from the units he owns (Tax deferred) without drawing a salary (fully taxable). And he is giving everyone an opportunity to buy the units exactly like the ones he owns. I'm on the ETE side of the trade because thats when the leverage is.