U.S. Oil producer Hess Corporation announced on Wednesday that it is making the first moves toward spinning off its network of gas stations into a new company called Hess Retail Corp. The company filed the general registration of securities (Form 10) with the Securities and Exchange commission, and it is not yet clear how many shares of the new company will be distributed among current Hess shareholders.
The new business will consist of more than 1,200 gas stations and convenience stores located in 15 states east of the Mississippi River, including 81 high-value travel plazas on toll roads and interstates.
How to Invest in America’s Crumbling Infrastructure
Water infrastructure in America is ancient, and when the temperatures drop, those old pipes are pushed to the limits of their strength. The Polar Vortex has ruptured pipes all over our hometown of Baltimore. One of us even suffered a ruptured pipe in our own house within the last 24 hours. There are companies ready to rebuild, fix, and clean up the havoc water wreaks. Find out who they are!