MASTER LIMITED PARTNERSHIPS

Wednesday, September 10, 2008

Martin Midstream Partners is down 3 dollars...no news. Someone unwinding.

14 comments:

Anonymous said...: One of the family members of the Martins is suing the CEO for breaching his fidiciary responsibilities in regards to MMLP and its GP.

Owning MLPs has become a f*cking minefield. Every damn day its something else.

We've had SGLP associated with a parent company that turned out to be a gigantic oil speculator.

We had QELP and its CEO stealing $10mil from the company.

Now we have the Martins in a pissing contest destroying more value for unt holders.

This is a shitshow.; 9/10/2008 12:12 PM
Anonymous said...: I learned my lesson with SGLP, when there is a flopping stock-stay the f*ck away. Someone always gets the information illegally and shorts it to the uninformed masses.

This is fine because the SEC does nothing.; 9/10/2008 12:14 PM
Anonymous said...: MLPs have become investing deathtraps. The high yields lure you in and then kill you with principal destruction.

Nobody here can honestly say these things are worth buying when they lose 2% or more day after day. Nobody gives a damn about earnings, distribution increases, yield, fundamentals or anything else. The market is controlled by robots all doing the same shit. If the robots say sell-they sell...; 9/10/2008 12:19 PM
joewxman said...: What's the lawsuit about...what did the ceo do?; 9/10/2008 12:21 PM
Anonymous said...: A thing that I find very annoying is that none of the guys running an MLP or GLP comes out and says something about the current state of affairs in our sector. Where are these people? The sector has completely disintegrated and its just silence. Especially some of the harder hit names: APL, CEP, TPP, ETE, and many others. How can they stand by idly while the entire sector collapses?; 9/10/2008 12:24 PM
Anonymous said...: Joe,

The 8K was filed last night.

Mr. Pipes; 9/10/2008 12:25 PM
Anonymous said...: http://www.sec.gov/Archives/edgar/data/1176334/000095013408016369/d60235e8vk.htm; 9/10/2008 12:27 PM
joewxman said...: Martin down 4.50. Still no news; 9/10/2008 12:28 PM
Anonymous said...: Joe-read the 8K; 9/10/2008 12:29 PM
Anonymous said...: Things weren't this bad during the Enron days. This is horrendous.; 9/10/2008 12:34 PM
joewxman said...: thanks guys...reading as i type; 9/10/2008 12:35 PM
Anonymous said...: Seems like a family pissing contest, but I'm not a lawyer, so what do I know...; 9/10/2008 12:37 PM
Anonymous said...: The Martins are real genuises. They have just destroyed their net worth by $18,000,000.00

Keep up the good work shitheads!; 9/10/2008 12:41 PM
Anonymous said...: Many MLPs have the following issues:

1) Large debt, some of which is financed at low legacy rates that needs to be rolled over with much higher rates.

2) Ongoing need to raise capital for projects or to refinance their revolvers... irregardless of market conditions.

3)The potentional for lower volumes due to demand destruction

4)The prospect for lower volumes due to a movement to less energy use (green adgenda)

5) The fact that many MLPs were overpriced last year, due to the carry trade, mutual funds being allowed to buy MLPS for the first time, competitive investments not attractive ( preferreds + reits ).

6) The prospect of tax selling for holders this year.

7) Shorts attacking MLPs for all of the above reasons.

8) Natural buyers of MLPs have been creamed in their MLP (+ Reit + preferred stock ) holdings this year, leaving them gun shy.; 9/10/2008 12:44 PM