What a truly glorious day in Houston.... except for the traffic.... I would have thought with everyone laid off and companies giving up and moving back to Ohio, traffic would get better. Wrong. Where do all the people come from? I even watched a shiny new fleet of helicopters fly over this morning. They were headed towards NASA or Ellington, either way we the people couldn't afford so many nice shiny new toys, so it must have been some white house tour event.... maybe? Probably time left to put on my tux and go down to panhandle at the gate. Oh yea, I just mainly wanted to say I think for such a broken down stock price here, volume has been worse then anemic. It's like the point in the flu when you realize you are constipated.
Listening to CNBC during my morning commute there was some discussion on the topic of Williams - ETE deal. A link was noted between CHK and Williams. Maybe someone who follows Williams can elaborate.
I just sort of assume every pipeline has CHK gas in it. And as a percentage of the pack, it's not material at this point.
I see all the phishing sites have lost their magic touch. I still use the magic decoder ring I got when I was 8 years old. So far it has confirmed I was correct and all my energy investments would totally stink and pretty much all the other segments would suffer to various degrees. Might be a very long year unless some management team comes up with a positive announcement. The road to fame and glory is paved by glorious speeches during times of doom and gloom. Might put this credit card company in the spotlight for a whole week.
Do they still give a 5% discount on the drip units? I was considering moving the units out of the brokerage so I could drip them. Used to be, brokers wouldn't drip them with the 5% discount and you had to move them out of street name and into your own name to get the discount. Most likely the brokers were just scamming their clients.
I don't think their clients are BK, haha_dumb#$%$.
But you stay short 'cause buyers need sellers. You know how little volume this has when everyone crowds the entry door.
Where ever "there" is, this must be about it. Can't say if 6% growth rate here is all that exciting, but considering the down revisions going on everywhere else I think the analysts are correct in pumping this stock. If it were at $40 right now, I wouldn't be surprised nor would I be a seller. Below $25 it'll become 5% of my portfolio. Below $22 it'll become 15% of my portfolio. Ask me in 2 years how it worked out.....
Maybe they are just flipping him over to cook on the other side. gl..... not like it can go down much from here if you are wrong. And congrats to everyone that owned it last night and sells it before the day is over.... nice trade.
Slides sort of stink since the current investors don't get to hear what you are telling UBS one on one people. Hmmm, one on one. Sounds like there's still not much interest. Maybe south of a buck someone will pay attention.
Right, the liabilities. I'm hoping they are using the money to lower debt. But it sounds like they plan to buy stock from their institutional friends that want out. Buybacks are the biggest waste of shareholder money I know of. It's like politicians getting to vote an unlimited number of votes for themselves in an election. But don't get me started.....
................... hope your New Year is on track and healthy as well!
Sure I'm curious about the balance sheet but I would not draw any conclusions from it since it will probably carry a lot of assets at historic cost and is not a fair representation of the actual value. I'd rather like to see fmv for the balance sheet items. That would be a treat. And provide us a accurate ROA. I've seen this peel it down process to prep a company for a sale and the value received is far less then the true FMV of the hard assets. Just saying...
3.3% would be nice. Jan 22nd announcement works with my schedule.
Moving the GE home office is getting funny. Wall street thinks it'll be NY, "the Dredge-My-Filthy-Hudson" State. And moving to NYC is probably off the list since it should be a superfund site due to the toxic rat pellets covering everything. I'm sure GE would somehow get flagged for that and need to clean up the whole place. Personally, I think they should move to a new campus across the street from XOM's new home office. An aggressive image suits them and saying they expect to be a solution instead of a fossil problem is really great, free advertising. Selling the fossils their tools is sure cheeky. Sort of like being a bank with a jet engine business.... that was practical, but just seemed a tad cheeky if you had to be a bank to buy the engines. Someday they will sing ballads about what Imelt did to Welch's GE, SYF will pay a dividend, and GE will not be based in the northeast.
" I verified it with the IRS and and an accounting and tax law expert. Your cost basis goes to zero, and that is it."
It's just basic partnership tax 101. Tell your tax pro to read page 206, paragraph 453 in his Master Tax Guide. Your outside basis does not go below zero because you pay cap gains on the distributions in excess of your basis. That holds the outside basis at zero. Your cap account reported on the K-1 will go negative because the partnership does not track your outside basis. So you have to keep track of it yourself. IRS? It's probably quicker, easier, and more accurate to google a tax question.
This company does not pay dividends. No such thing. It pays distributions which are totally 100% return of capital. It reduces your cost basis. The K-1 reports items of income and expense which increase or decrease your capital depending on whether they are net positive or net negative. The point is, depending upon what happens during the year your capital account could go negative if your distributions and K-1 net to a negative greater then your capital account. That negative capital has to be reported on your Sch (D) as a capital gain.
So buying units for $2 with losses maybe greater then that sounds like a bad bet to me. I suspect all that is priced in but is illogical. As someone noted, the quicker the bankruptcy the better. I've never heard of an MLP issuing a capital call to shore up the balance sheet, but nothing surprises me anymore. I doubt the bankers can come after unit holders personally, but nothing surprises me anymore. Y'all better dump the sugarplum visions and pay attention. This is uncharted territory. I'm not long or short, just watching. gl
See, loyalty is only ok until management whizzes on your leg. They did that when they spent money on a proxy wanting us to okie dokie free units for them. One could say they are just too incompetent to fix the operational expenses or are too stupid to buy prime properties that are accretive, that is normal for really bad management. But don't let them pizz on your leg. You are wasting your buzz words.
Oh, it's not dead yet? Dang, I sold too soon. Maybe they won't buy the stock back because they know it's future is ..... somewhat less then ok.
I have gains I need to offset this year, so all my money these clownazzbozos have flushed will not go to waste. I'm waiting for the absolute bottom to sell. I would generally agree the floor is pretty strong at zero but I'm not so sure about this one. And for the record, I always like Chaney, he knew how to take the right folks out hunting. Maybe O needs to forget the golf and go hunting instead. Maybe start with the Tx RRC so they cut the quotas. Funny, Texas could replace the Saudis if it weren't being run by spineless, clueless, worms. Oh, that's right, O wants the oil biz dead. Haven't we been here and done that? I don't recall how it turned out, but I'm pretty sure the REP party will do ok without oil pac money.
" it will be south of $30 "
Wait until we find out how many shares we get...or didn't get. If it was oversubscribed a lot of SYF shares will be bought and your shorts will be underwater up to your neck. Better luck next time.........