Just did my due diligance on BWP and decided to take a position. I've posted my reasoning on my blog, feel free to come and check it out.
I liked your blog alot. Congratulations on being such an astute investor at such a young age. Now re: BWP - do you get a K-1 at tax time. Hate those K-1s, which is why I avoid most MLPs. Thanks
An investment service lists BWP as an SRI company, which they claim make them exempt from federal taxes as long as they pay out nearly all their profits in the form of monthly dividends. Anyone have any info as to the validity of such a claim. The advertise there are 70 such companies that took advantage of HR 4520 to gain this status. Thanks.
Suggest you need to do a LOT of reading. MLPs are partnerships, not corporations. Cash flow moves to the partners. Factoids has a great blog. Also just put in Master Limited Partnerships and you can get all the relevant info.
Also MLPs do not pay dividends. They distribute their cash flow. Much are sheltered until you sell. MLPs have been around about 15 years. There is also a discussion group (I think 4) at Yahoo.
SarBox applies to all companies. I am not aware that companies post information in that area. Their SEC filings are the compliance and unless they announced non-compliance in a conference call you can assume they are complying. As an aside, other than stock options there were almost on companies that had problems.
I would think BWP a longer-term investment. The growth rate is gonna be slower than most people think. As with most large companies this time of year, not a damn thing is going on. Once the pipe for the new projects starts arriving things will pick up dramatically. I also hear SOX compliance is frustrating them a bit.