MASTER LIMITED PARTNERSHIPS

Wednesday, July 23, 2008

Closing at the lows of the day. The agony just never stops.

7 comments:

Anonymous said...: Joe,

I agree.

Mr. P; 7/23/2008 4:02 PM
Anonymous said...: We need REAL buyers of these things, until then we'll just drift around.; 7/23/2008 4:18 PM
Anonymous said...: SemGroup is stinking up the joint. PAA had to issue another press release after the close. It takes nothing to push these names over.; 7/23/2008 4:27 PM
Anonymous said...: HOUSTON--(BUSINESS WIRE)--July 23, 2008 --

Plains All American Pipeline, L.P. (NYSE:PAA) today reiterated statements made in a press release issued July 17, 2008, that it does not expect to have any material credit exposure to SemGroup, L.P. and its affiliates. SemGroup, L.P. yesterday announced that it and certain of its subsidiaries have filed petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The trade debt amounts attributed to PAA in such bankruptcy filings were gross amounts and, as noted in the bankruptcy filing, are "Subject to Set-Off." However, the presence of such amounts in SemGroup, L.P.'s bankruptcy filing (and subsequent media reports reciting such gross amounts) have precipitated calls from PAA's stakeholders and customers seeking clarification. As indicated in the SemGroup filings, PAA has various arrangements in place to mitigate credit exposure, such as net-out agreements that allow for set-off of payables and receivables between counterparties. Accordingly, PAA is today reaffirming that it anticipates no material credit exposure to SemGroup, L.P. and its affiliates.; 7/23/2008 4:28 PM
Anonymous said...: The shorts want these names down so badly that every news item becomes a reason to sell. It is really getting quite ridiculous.

Mr. P; 7/23/2008 4:29 PM
Anonymous said...: So how can we see who,what,when of short sellers? Easy to allege, how can we prove?

Dave; 7/23/2008 4:35 PM
Anonymous said...: Can't since they are naked shorting the hell out of them...there is no disclosure. One more way that Wall St with a blind eye from the SEC f*cks the public.; 7/23/2008 7:55 PM

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