The board is about whatever anyone wants to post. Its just when I see all this lamenting about how HRB has changed as if it exists in a vacuum, well it just doesn't ring true. The company is part of corporate America, and uses the same methods. Anyone who has worked for one company for the last 25-30 years, is unhappy now. Times have changed
As a 15 year tax preparer, I have seen many of the changes written about. I have only worked in the computer era, so I do not have the same experiences of the 25-30 year people. I had offers to work elsewhere, but just wanted the convenience of the scheduling that Block provides so here I am. I think once the 'founders' leave a company changes and chances are old time employees will not like it. Or if you work for a big company attitudes have changed thru the years and now you are just another 'expense'. Sad, but that's the way it is. At least if you are a tax preparer you have the option to open your own business, or work for a small firm. But a manger at CVS, doesn't always have that chance. I have clients who are (or were) long time employees of Sears, Walgreens, Disney, United Health Care, Wendy's etc and they have the same complaints I am reading here.
So what's my point. Things change. If you work for a big company the changes are not good for you. Whether it is work conditions, health care, vacations etc. Block is no different.than most other large companies. They want to maximize their profits, they don't want your opinions and that is that. So you can moan all you want about the 'good old days' in corporate America, but those days are NEVER coming back.
I guess you 'know' this from some survey. So please supply a link so we can enjoy the laugh. I wonder if the same could be said of former employees of Sear's, Walgreen's, Macy's, Disney etc?
If I were to sell/buy at today's prices I would get about 238 KMI for every 100 KMP. If I wait until closing, and lets say KMI is $50 (that's about $120 for KMP) I would get 240 shares. So about $2000 more in cap gain. ($300 at 15% bracket) and get 2 fewer shares. (lose $100) so for every 100 shares you gain $200 net by selling today. Of course by waiting until the end your basis in KMI is higher so that may help down the road when you sell.
go to Kinder Morgan Investor relations. then-k-1 info-sign in or register-access tax package-click I agree-scroll down to bottom-it is on left.
If you intend on holding on to your KMI shares. And invest the $10.77 in new KMI shares, then I think it is better to sell now and buy KMI instead. Either way you end up with about 240 KMI for every 100 KMP. If you sell today your cap gains are based on todays price of $98. If KMP would be $120 at close (and KMI would be about $50)---again you get same # of shares, but now you are paying cap gains on the sales price of $120. That's a big difference.
On the other hand if you are not planning on keeping KMI, and think the price will be going higher---then sure you will have more cap gains later, but more money to spend on other choices.
But if you just plan to keep your KMI shares all you get from that $120 is extra capital gains tax. You don't get any additional shares. If you are planning to keep the shares you are better off selling now and buying KMI now before it goes any higher.
read my previous topic. If you want to convert to KMI, I think it is better to do it now. You will end up with more shares and lower tax liability. The higher KMI/KMP goes the worse it is for you.
So. If you like the deal, and plan on keeping your KMI shares, and buying more KMI with the $10.77---then the higher the price goes the WORSE it is for you. If you wait and KMI goes to lets say $50. So you will have $9 more of cap gains to pay tax on, but still get the same # of shares. Plus you will get fewer shares of KMI for your %10.77 at $50 than $41. And if you get the Oct dist it will lower your basis again and raise your tax. So it seems selling now and buying KMI at this level works best. Of course if you think KMI will sink back to $38 or lower-----well that's something else
You don't benefit by posting that here. Send it directly to Richard. Maybe he will change his mind if he gets enough mail.
Who's to say? If on the closing date KMI is $50. Then you would get $50x2.19=$109.50+$10.77=$120.27. It seems to me, after the initial euphoria/panic the shares are trending up with today's close being the highest since the announcement