MASTER LIMITED PARTNERSHIPS

Monday, September 15, 2008

In case you were wondering why Eagle Rock (EROC) dropped by 2 points last Thursday. Well it was LEHMAN! They sold 2 million shares. So at least in this case. Yes it was Lehman. And they have roughly 5 million shares left.

There were a few insider buys today but frankly i make bigger share purchases then they did.

4 comments:

Anonymous said...: DCP dropped 10% or $2.30 just today, guess who is one of the major holders [LEHMAN 1.6 mil, 5.8%]; 9/15/2008 5:56 PM
Anonymous said...: Lehman's Article in Barrons

Oil Prices Hit As Lehman’s Commodities Contracts Unwind; Could We Be Headed For $69 a Barrel?
Lehman’s Fate Hits Commodities Market
So what’s the connection between economic demand for fuel and the mega-bankruptcy of a venerable Wall Street institution? Lehman Brothers’ (LEH) commodity contracts are unwinding, for one thing, and the ripple clearly convinced other players to dump oil futures Monday. Investors who steadily piled into energy as prices rose are looking for excuses, er, signs, of economic weakness so they can bail, says Peter Beutel, who runs an energy risk management firm, Cameron Hanover, in New Canaan, CT. Oil futures fell $5.47, or 5.4%, to close Monday afternoon at $95.71 per barrel on the NYMEX, the lowest close since Feb. 15. The Amex Oil Index (XOI) dropped more than 8% and is now near the 52-week low it set last week. Shares of oil refiner Sunoco (SUN) were especially hard hit, down 20% to $38.18, given the sorry state of refineries in hurricane-hit Texas. Last week, senior Weeden & Co. energy analyst Charles Maxwell told Barron’s that oil, today, is worth somewhere between $75 and $115, and could reach $300. Beutel agrees prices could get to $300 in the next bull market, but thinks oil will fall back to between $69 and $79 per barrel in order to properly reflect real fundamentals — things like global supply shortages, strong demand in emerging markets, global strife cutting off supplies and, of course, bad weather. Despite all this gloom, Monday’s oil price drop helped some airline stocks breathe a sigh of relief. Shares of United Airlines parent UAL (UAUA) and American Airlines parent AMR (AMR) were each up nearly 9%. Others including Delta Air Lines (DAL), Northwest Airlines (NWA), Southwest Airlines (LUV) and Continental Airlines (CAL) were off less than; 9/15/2008 9:09 PM
Anonymous said...: From Bloomberg on Lehman dumping assetts

Lehman Auctions $852 Million of LBO Loans as Prices Plummet

By Pierre Paulden

Sept. 15 (Bloomberg) -- Lehman Brothers Holdings Inc. is trying to sell $852 million of high-yield, high-risk loans, signaling it's dumping some assets after filing for bankruptcy, according to people familiar with the sale.

Bids for the loans, some of which helped finance leveraged buyouts for First Data Corp. and TXU Corp., are due by 2 p.m. tomorrow in New York, said the people, who declined to be identified because terms are private.

Lehman, once the fourth-biggest U.S. investment bank, is selling loans as prices near record lows. New York-based Lehman, which failed to find a buyer as its share price tumbled, has $7.1 billion of high-yield loans and bonds on its books, the bank said Sept. 10.

The price of the average actively traded leveraged loan has fallen from above face value in June 2007 to 86.64 cents on the dollar, compared with a low of 86.3 cents reached in February, according to Standard & Poor's LCD, which earlier reported the loan auction. Prices fell 1.64 cent in the past week.

``We're basically at all-time lows for good credits,'' Blackstone President Tony James said in a presentation last week at a New York investor conference sponsored by Lehman. ``Because of capital pressures, and regulatory capital pressures in particular, by the holders of the loans, they are forced sellers at well below intrinsic value.''

Lehman didn't have any immediate comment, said spokesman Mark Lane.

Lehman loans for sale include those from First Data, which was bought out last year by New York-based Kohlberg Kravis Roberts & Co., and TXU, now Energy Futures Holding Corp., purchased in 2007 by KKR and TPG Inc. of Fort Worth, Texas, the people said.

Lehman is also selling distressed loans for Chicago-based Tribune Co., which billionaire investor Sam Zell took private last year, the people said.

High-yield, or leveraged, loans are graded below Baa3 by Moody's Investors Service and below BBB- by S&P.; 9/15/2008 9:31 PM
Anonymous said...: Barclays is interested in buying Lehman assets still.; 9/16/2008 5:32 AM