Just got off the phone with Keith Johnson....it took three calls to get to him. And the efforts were all mine as he never bothered to call me back the three times previous. I think this is not only an idiot but also a jerk.
His message is a simple one: Once Delek was officially in charge of ALDW, DK got to call the shots and that means there'll be no further distributions due ALDW unitholders. He says it's about time and nothing else. Feb 7th closed off all other considerations concerning ALDW. Idiot!
I then asked him if he's an inside IR guy or outside, explaining that if he's an outside guy, then he simply doesn't know how things work. And if he's an inside guy, then Delek has failed to adequately inform him as to how things work.
I further told him that my background is also in IR and I know for a fact that if what he's said is truly the official company line, then what they've done effectively is blend assets of both companies, completely disregarding the rights of former ALDW unitholders and standard treatment of corporate books regarding mergers and acquisitions.
Furthermore, I told him that if his position remains unalterable, then there will definitely be resultant litigation I personally believe to be expected and deserved.
Needless to say, while I was controlled, I was super-pissed off.
Poor Keith was waaaay out of his league on this phone call. He was shocked, especially when I read a portion of the last SEC filing which I posted on this board a few days ago. I didn't use my usual big words but his response was actually funny---he was flabbergasted and speechless. He stood on the so-called fact that when ALDW was officially under the control of DK as stated on Feb. 7th, all former obligations to ALDW unitholders were voided. I agreed that would be the case. However--- it doesn't excuse DK from making ALDW unitholders whole for periods elapsed prior to Feb. 2nd. The asshole didn't even realize that there were quarterly distributions not paid by DK. And certainly ALDW wasn't in a position of authority to make us whole, either. I actually had to inform him of there not having been any 4th Q payout (calendar year) nor was the prorated obligation covered. And then---the fool asked me to read the filing to him again. Mind you, what I posted here for you a few days back is extracted directly from the SEC filing. How on Earth could he not have recognized my excerpt? I sure as hell know it nearly by heart!
The way things now stand---he's going to have legal people contact me.
Everybody within earshot---CALL!!! This is our money and dignity on the line. Don't leave it up to just a couple of us. Nothing gets done that way. We need to be an irritant. We need to clog their phone lines with our search for truth and responsibility.
Please---we all must lean on one another right this minute. Call!
AI
