Can anyone justify why we would still hold on to Tomas Ranch during these “uniquely challenging times”? I get that the execs need a safe space to shoot some guns...sorry, I meant hold offsite meetings, but seems to me like an easy “non-core” asset sale to free up some cash.
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Northwestern cornet Duval County. Near Freer Texas
Anyone have a google earth or maps link to where it is?
What's the usual line... we only sell assets when we're able to obtain a price which exceeds the value we place on them. I'm guessing Execs place a pretty high value on their perks... higher than what the market has to offer for them. Similar thread going for all the corporate jets we own for Executive use.
Humble Oil has had it since the 1930’s. No chance they’ll sell a key piece of what keeps the boys club alive.
I wonder if it’s a problem of worth. I would be curious what they’d get for it. It’s a large tract of land, true, but it’s really remote. And not by a major airport. You have to fly into Corpus and drive an hour and a half. It seems like a relic of a bygone era when companies had hunting ranches.
I’m sure there’s some tax loophole that is used with it.