Tony Soprano

Kinder Morgan: Energy Infrastructure Fee Machine

It's nice to know that Mr. Dan Notestein cares so much about his mother's investment in KMP. However, if she had purchased the stock in 1992 at 6 she would have increased her value by nearly TEN FOLD (not including dividends). If she had purchased KMP in 1998 at 18 she would have increased her value by THREE FOLD (not including dividends).

Also, Mr. Dan Notestein states that "Secret's are always relative." There is no secret here, so how can it be relative? He goes on to back up this statement with the idea that "It's an EXTREMELY non-standard practice (yes, a number of MLP's do it'. How can extremely non-standard practice and yes, a number of MLP's do it make any sense. There are not that may pipeline MLP's to begin with so this comparison makes no sense. How KMP handles its accounting and IDR payments is built into the price of the stock.

FIRST CALL has a buy recommendation for KMP. Out of 13 analyst 6 are strong buys, 3 are buys and 4 are holds. S&P gives KMP five stars, a strong buy.

Yesterday KMP had a public offering of 5 million shares. Most of those shares sold for $57. This proves to me that KMP can raise capital successfully. If there was a concern about deceptive accounting procedures or their IDR payments it did not impede their effort to raise nearly 300 million dollars.

Kinder Morgan: Energy Infrastructure Fee Machine

In their recent report, Standard & Poors does not think that there is any misleading accounting regarding Kinder Morgan and their partners. In addition, Standard & Poors gives Kinder Morgan a strong buy recommendation - 5 stars and they go on to say that their long term growth looks promising.

As Mr Alexander says above the way they manage their accounting is fairly unique but NO SECRET.

Kinder Morgan: Energy Infrastructure Fee Machine

It's the same story warmed over each time. You need to come up with a new recipe. You have been zapping KMP/KMR for over a year (Jan 9 , 2007, Richly Valued Kinder Morgan Completes Canada Deal) and your story doesn't seem to stick. Also, why would S & P give KMP a 5 STAR rating? This is their highest rating. You have a Sell-recommended.