Posted by john in la on August 07, 2009 at 06:18:53 from (66.157.47.110):
I see Pilot has gone into a preliminary merger agreement with Flying J.
Flying J got into trouble with past oil prices. They were buying product in the future market to try and save or more like make more money and got in trouble when the bottom fell out the market. They were stuck holding high priced fuel and no way to get rid of it. This has caused them to file chapter 11.
On the other hand Pilot can not stop growing. In 2001 Pilot and Speedway that is owned by Marathon Oil merged making it the largest supplier of on road diesel in the states. In 2003 Pilot bought out Williams Truck stops. This buy out caught the attention of the government so they were forced to sell off one small station for every larger station they got from Williams.
If the government lets the Flying J (250 stores)merger go threw this will make Pilot (305 stores) twice as large as its nearest competition T/A (233 stores including the ones it just bought from Petro).
While I do not care how big a company gets especially a private owned company; I do not know how well I like having one person in charge of pricing that much diesel fuel.
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