The Rising Influence of Rising Affluence

[DewDiligence]

HES is considering spinning off the service-station/convenience-store business, rather than selling it, to avoid capital-gains taxes:

http://online.wsj.com/news/articles/SB10001424052702304355104579236230684972124

Hess had 1,361 filling stations at the end of last year, the last time the New York company gave information about the business to investors before classifying it a discontinued operation. The stations are located throughout the eastern U.S., from Florida to New Hampshire, and as far west as Tennessee and Alabama. All but a few include convenience stores and nearly all are operated by Hess.