Replies to post #7245 on The Rising Influence of Rising Affluence

[jbog]

De is a little risky until the banking sector figures out what is going on. There's nothing to be said about Hes but the wolves left the premises.

[DewDiligence]

Update on HES’ divestiture of US East Coast service stations and convenience stores:

http://online.wsj.com/article/SB10001424127887324251504578581632263636870.html

Hess Corp. has enlisted Goldman Sachs to sell its gas-station chain, people familiar with the matter said, as the oil company moves to reshape itself into strictly an exploration-and-production company. At the end of last year, Hess had 1,361 gas stations spread among several Eastern states.

…Hess is seeking a price in the low single-digit billions for its gas stations, one of the people said. More than 90% of the stores are company-operated and include convenience stores. Convenience stores can boost profits, as margins are generally higher on items like soda, beer and cigarettes than they are on gasoline and diesel.

[DewDiligence]

HES director makes small ($55K) open-market purchase:

http://www.sec.gov/Archives/edgar/data/4447/000120919113041534/xslF345X03/doc4.xml

HES insiders were aggressive open-market buyers at lower share prices (e.g. #msg-89320207, #msg-75705739, #msg-75235512, #msg-66113344), so it’s nice to see a buy now, after the price has appreciated to a large degree.