Hess announces culmination of transformation Into a E&P company; HES anticipates achieving a five year compound average annual production growth rate of 5 to 8%: Co announced several initiatives marking the culmination of its multi-year strategic transformation into a pure play exploration and production company.Second story from Yahoo! In-Play:
Hess issues letter to shareholders; responds to Elliott Management's flawed recommendations : Co letter stated "Indeed, now more than halfway through our transformation, the market has been recognizing our progress. Hess shares significantly outperformed the peer index, rising from $43.93 to $58.90 per share, an increase of 34% in the period between our mid-year strategy update on July 25, 2012 and the January 28, 2013 announcement of our planned terminals sale. On Friday, March 1, our shares closed at $66.54 per share. Operating performance has also been strong. 2012 cash flow from operations was the highest in our 80 year history and 2012 net income was our third highest....In the first phase of our transformation, we invested significantly in our most promising assets, substantially increasing our leadership in the Bakken oil shale, and entering the Utica shale, while acquiring an additional ownership stake in the Valhall Field (Norway).The letter goes on.
Third story: Hess will sell retail business; focus on oil. Shares surge.
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A Letter to the Granddaughters
A Letter to the Granddaughters
It is so amazing what one finds in the most unexpected places. This from one of Sylvia Plath's journals as recorded in Elizabeth Winder's Pain, Parties, Work: Sylvia Plath in New York, Summer 1953:
I am no longer the crackpot idealist who will eat red beans in a tenement all her life. I like theater, books, paintings, travel, all which costs more than intangible dreams can buy ... To learn that you can't be a revolutionary. To learn that while you dream and believe in utopia you will scratch and scrabble for your daily bread in your hometown and will be damn glad if there's butter on it. To learn that money makes life smooth in some ways, and to feel how tight and threadbare life is if you don't. -- p. 148[Some punctuation added to the excerpt.]
And then this, same source, p. 182:
Sylvia turned to Margaret: "Do Mormons believe in life after death?"
"Yes, the soul continues to progress and evolve," explained Margaret.
"Oh, good," Sylvia seemed mildly relieved. "Otherwise it'd be such a waste." Then she slipped out early for a data at Café de la Paix.
