RED DEER, Alta. - Parkland Income Fund (TSX:PKI.UN) said Friday that it earned $10.1 million in its latest quarter, down from a year ago.
The gas station income trust said the profit amounted to 20 cents per unit for the quarter ended Sept. 30 compared with a profit of $13.1 million or 26 cents per unit a year ago.
Net sales and operating revenue totalled $543.1, down from $734.1 in the same quarter last year as the underlying price of oil fell.
Parkland has more than 600 locations under several banners including Fas Gas, Race Trac Fuels and Short Stop Food Stores.
The fund also supplies propane, bulk fuel, heating oil, lubricants, industrial fluids, agricultural inputs and associated services and operates the Bowden refinery near Red Deer.
Liar’s Poker author Michael Lewis has a great review in The New Republic of Alice Schroeder’s biography of Warren Buffett, The Snowball: Warren Buffett and the Business of Life. Lewis says as much about Buffett as he does about the book in his analysis. Hat tip to Paul Kedrosky for pointing to the review. Also worth a read: Canadian [...]
I had a conversation earlier today in Montreal with Jeffrey Immelt, the chairman and CEO of General Electric Co. (GE), who was pretty blunt in his assessment of the so-called Buy American provision in President Barack Obama’s stimulus bill. “I think it’s terrible,” Immelt said, before speaking at the International Economic Forum of the Americas here. [...]
This week I spoke to Tom Bradley, president of Steadyhand Investment Funds Inc., a Vancouver-based, mutual-fund group launched in April, 2007. He wanted to fill me in on what his funds were all about (I had inadvertently overlooked them in an article I did on low-fee funds awhile back). Normally, I tend to avoid actively managed [...]
The results of Cone’s 2009 Consumer New Media Study include two points that I found to be remarkable: “Forty-four percent of American new media users are searching for, sharing or discussing information about corporate responsibility (CR) efforts and programs…” “Sixty-two percent of users polled believe they can influence business decisions by voicing opinions via new media channels. ” While the [...]
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