Didn't SXCL just cut a deal with SPLP for SP Services (owned by SPLP) to provide executive management services for something like $3-$4 million a year? It seems like a big number, especially if they are going to slow play all the cash they have. However, if they put the money to good use and are getting services that are valid then it makes good sense. Seems to me the winner is SPLP. They get good cash flow to the SPLP level and can be patient on investing the funds at SXCL. I own SPLP for the long term and will give them time to see how they execute.
SPLP is really cheap- trading a much less than asset value. Warren has his money at SPLP, something tells me that he'll look after his own money and do well over time.