MLP expects to receive 100M in gross proceeds
WALTHAM, Mass. — Global Partners LP plans to sell 125 non-strategic convenience stores, Eric Slifka, the master limited partnership’s (MLP) president and CEO said Monday during the company’s 2015 fiscal fourth-quarter earnings conference call. He did not cite where any of the stores are located, but did note he expects most or all of the stores to be sold within a year.
“We’re actively pulling information together,” he said. “… It’s the right thing to do.”
Global Partners’ chief executive added the company expects to receive approximately $100 million in gross proceeds once the 125 c-stores are sold.
MEMBER ALERT: Station Operators Accountable For Fighting Skimming
Massachusetts could take legal action against gas station operators and fuel dispenser repair companies that fail to promptly alert authorities of skimmers found at the pumps.
That warning is part of a public announcement on skimming theft that was released yesterday.
“We all have a vested interest in eliminating this problem to the greatest extent that we can,” said Charles Carroll, director of the Massachusetts Office of Consumer Affairs and Business Regulation’s Division of Standards. “Service station owners, operators and dispenser repair companies all have an ethical and legal obligation to notify local law enforcement and weights and measures officials as soon as a skimmer is found. Failure to do so could be subject to legal action.”
This is the second known instance in which a state may hold gas station operators accountable for taking action against skimming, in which identity thieves attach small devices to point-of-sale systems to capture account information. Florida lawmakers are considering legislation requiring gas stations to take security measures such as installing security seals that reveal when someone’s been tampering with the dispenser.
In yesterday’s announcement the Massachusetts Office of Consumer Affairs and Business Regulation’s Division of Standards said it is conducting random inspections of gas station fuel pumps looking for skimmers.
The division also sent a letter in December to more than 50 gas dispenser servicing companies asking for cooperation in reporting any skimming devices they find affixed to a gas pump or installed in the pump’s upper chamber. The letter said to report the devices to local law enforcement and the Division of Standards.
Two weeks later, service companies reported skimmers in Hingham, Westwood and Bridgewater, Mass., the division said.
–Donna Harris, firstname.lastname@example.org
Copyright, Oil Price Information Service
PMAA Pushes Marketers to Oppose DOL Overtime Proposal
The official deadline to submit written comments to the U.S. Department of Labor
(DOL) regarding its controversial proposal to change overtime payment
requirements is Sept. 4.
With that deadline looming, PMAA today sent its state member associations a
template for a comment letter opposing the proposal, in hopes that the member
associations will distribute it to marketers — who would alter it as they see
fit, put their names on it and submit it electronically to the DOL before the
PMAA: Cost to Retrofit Tank Systems for E15 ‘Enormous’
The Petroleum Marketers Association of America (PMAA) said the cost to retrofit
underground storage tank systems to handle E15 would be “enormous” — averaging
between $375,000 and $425,000 per gas station. To replace the piping alone, a
gas station operator would spend a minimum of $150,000, the association said.
U.S. Vehicle-Miles Driven Top Previous Record Set in 2007: USDOT
The U.S. Department of Transportation’s (USDOT) Federal Highway Administration
(FHWA) said on Wednesday that Americans drove 987.8 billion miles for the first
four months of the year, topping the previous record — 965.5 billion — set in