I feel sorry for you guys. I once owned Williams Communications, which was part of WMB. They spun it off and included debt from who knows where. I'm sure that they had their lawyers put it in small print. There was a lawsuit I believe, but the lawyers took most of the money. Shareholders got a few cents per share. Williams Communications went bankrupt. So a previous poster had it right. Don't trust ANY spinoff from WMB. The scum that run the company deserve a bullet. But I guess that in America you can do pretty much anything you want to do if you have the money to pay for lawyers and accountants who can work their magic. I'd tell you what I really think, but Yahoo filters almost all of it.
Williams' ingenuity provided the foundation for modern-day telecom networks when it ran fiber-optic cable through decommissioned pipelines. In fact, the company built two coast-to-coast telecom networks. The first one became the fourth-largest U.S. long distance network and was sold to LDDS in 1995. The second, a 33,000-mile network, was spun off as a separate company in 2001.
They had a fiber network? That5 is an asset. I lost in that deal as well. These guys live on fee's. They spin off companies to create smoke and mirrors to talk about at their clubs. P.S. they took my honest post off the board regarging the spinning of of cherry that WMB Holds. We are screwed as shareholders.