MASTER LIMITED PARTNERSHIPS

Wednesday, October 01, 2008

Dow at the flat line with Buffett doing a deal for GE similar to what he did with Goldman. MLPS nearing the highs of the day and nearing the 228 level.

7 comments:

Anonymous said...: MLPs need to halt all expansion plans and preserve capital until the dust settles. Sideways distributions are better than a cut. Any MLP that cuts its distro is toast.; 10/01/2008 2:42 PM
Anonymous said...: WTF is the deal with XTEX today? Low 14.42 High 18.34 or 21% intraday swing. The stock market is not working.; 10/01/2008 2:44 PM
Anonymous said...: How is GE selling preferreds at 10% a good thing (except for Buffett)?; 10/01/2008 2:52 PM
Anonymous said...: XTEX sustained too much damage in IKE, thus will have to cut their distribution. That is why GS downgraded.; 10/01/2008 2:54 PM
Anonymous said...: Doug Kass
Out of GE Long -- Questioning GE's Capital Strategy
10/1/2008 2:43 PM EDT

I am obviously gone on the GE (GE) long rental on the reopening gap higher.
Maybe some will now question Immelt's buyback program done in the mid-$30s over the last year.

I have questioned Immelt's business acumen in the past, and this latest financing leaves me skeptical to the core.

Selling $12 billion of GE shares to the public (and $3 billion to Buffett) at a price about $13 less than the average paid in the company's BUYBACK over the last year is not a Henry Singleton-type strategy.

It is actually moronic -- or it is testimony to GE's fragile financial state.; 10/01/2008 2:58 PM
Anonymous said...: "XTEX sustained too much damage in IKE, thus will have to cut their distribution. That is why GS downgraded."

Don't they have property and business interuption insurance?

Seems overdone.; 10/01/2008 3:00 PM
Anonymous said...: The house bill had di minimus language allowing the treasury to
buy up to 100 million in bad assets from any banking institution without that institution needing to give up warrants or submit to CEO pay limits.

Assuming that similar language is in a bill that passes... my guess is that Paulson with a week will do that 100 million with the 300 largest institutions.

100 million is peanuts to JPM, but it will help a lot of smaller institutions.

HS

BTW: EP + WMB are being crushed as well as mlps.; 10/01/2008 3:13 PM