I read in an S&P report that the CEO and his family hold 29% of the units and that there is a conflict of interest between this family and the rest of the shareholders. Also I read that non-family shareholders cannot elect board members. Does anybody know what this is all about? If true, your money may be going down a black hole. Thanks in advance.
"The families of CLMT's chairman, CEO and president, and The Heritage Group
and certain of its affiliates indirectly own a 29% LP interest and control the general partner (GP).We believe that certain conflicts of interest may arise between the GP and its affiliates, on the one hand, and unit holders on the other hand. Unitholders have limited voting rights and are not entitled to elect CMLT's GP or its directors."