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Author Topic: Marathon says Hess' retail chain would be "excellent fit" for Speedway Back to Topics
PD

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Message Posted: Nov 5, 2013 1:17:52 PM

An interesting development has come to light during Marathon Petroleum Corporation's (MPC) third-quarter earnings call several days ago, with MPC's president praising Hess Corp.'s retail network, which is up for sale, as "one of the best looking systems on the East Coast".

Marathon's subsidiary Speedway has recently begun expansion into Tennessee and Pennsylvania, and there have been hints that Speedway could consider purchasing the Hess network.

As for whether Marathon would purchase some or all of Hess' 1,300-plus convenience stores and gas stations, Heminger said his company needs "to see how it plays out." "But we're going to continue to step out with Speedway. I doubt that we will do a leapfrog of several states unless...

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AvantiMick
Champion Author Indiana

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Message Posted: May 2, 2014 5:47:46 AM

In Indiana, Marathon uses Speedway to raise gas prices a couple of days ahead of Marathon stations so it doesn't look like Marathon is doing it.
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Becky_Gelke
All-Star Author Cincinnati

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Message Posted: Jan 10, 2014 10:56:15 PM

This story is two months old. That said, if GREEDway/Marathon indeed buys Hess, the Hess customers have my sympathies.
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RapMassaG
Champion Author Cincinnati

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Message Posted: Jan 10, 2014 4:20:07 PM

If this goes through, get ready Hess-state residents. You'll be seeing Marathon/GREEDway's patented Greed Grabs, where your prices spike 25-50 cents at a time.
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Sneakers55
Champion Author Houston

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Message Posted: Jan 10, 2014 3:26:56 PM

On Dec 6, 2013 9:13:44 AM, Tommyguns45 wrote:

>Speedway should be making money since they lure the public in by
>giving back 4 cents on the gallon when they pay in cash. Saves them
>from having to pay the whopping 8% or 32 cents every time we use
>a credit card.

Any merchant that is paying anywhere near 8% in merchant discounts needs to go out and get a different payment processor. While I don't have a business that accepts credit cards, I know where to get 2.75% on any of the four major credit cards (including American Express, historically the most expensive of all).

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gasmask78
Champion Author Virginia

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Message Posted: Jan 6, 2014 12:09:50 AM

Z
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gasmask78
Champion Author Virginia

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Message Posted: Jan 6, 2014 12:09:22 AM

Grrrrrrrrrrrrr
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nurdco
Champion Author Colorado Springs

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Message Posted: Dec 24, 2013 9:41:17 AM

He may punt... Unless You'll pay up for their. Refinery

[Edited by: nurdco at 12/24/2013 9:41:24 AM EST]
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gasmask78
Champion Author Virginia

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Message Posted: Dec 22, 2013 10:10:21 AM

Yipppeeeeeeeee!!
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gasmask78
Champion Author Virginia

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Message Posted: Dec 22, 2013 10:09:52 AM

Wahooooo
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gasmask78
Champion Author Virginia

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Message Posted: Dec 22, 2013 10:09:03 AM

Hooray!!
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ravan5
Rookie Author Texas

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Message Posted: Dec 8, 2013 3:53:23 AM

Ok
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johnwinger
Champion Author Twin Cities

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Message Posted: Dec 7, 2013 2:51:02 PM

Beware of Speedway!
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pilotmass
Champion Author Boston

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Message Posted: Dec 7, 2013 8:20:59 AM

Marathon has been a front runner for Hess since they decided to quit.
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loboso
Champion Author Virginia Beach

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Message Posted: Dec 7, 2013 6:45:11 AM

so the hess truck will no longer be on sale unless they keep the brand name
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rockmbike
Rookie Author Ohio

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Message Posted: Dec 7, 2013 4:35:36 AM

thats nice
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Tommyguns45
Champion Author Illinois

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Message Posted: Dec 6, 2013 10:13:44 AM

Speedway should be making money since they lure the public in by giving back 4 cents on the gallon when they pay in cash. Saves them from having to pay the whopping 8% or 32 cents every time we use a credit card. I think they should give us cash paying customers more back. If its a Pre-Pay station then I just avoid them. Who wants to make 2 trips in the station to pay then back in line again to get your change in all kinds of weather.
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tklsr
Champion Author Akron

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Message Posted: Dec 6, 2013 8:56:58 AM

Eh, does it really matter?
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runnerpaul
Champion Author Michigan

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Message Posted: Dec 5, 2013 10:16:04 AM

Okay. Will be watching on how this plays out.
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Sneakers55
Champion Author Houston

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Message Posted: Dec 5, 2013 8:53:40 AM

BJ's Wholesale Club is the latest company to take a look at Hess.
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Sneakers55
Champion Author Houston

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Message Posted: Dec 5, 2013 8:52:07 AM

On Dec 5, 2013 5:50:08 AM, RS101 wrote:

>I often wonder how close gas companies are to true monopolies.

Energy manufacturing companies are technically described as an oligopolies as there are a few major players and the cost of market entry is very high.
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RS101
Champion Author Minnesota

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Message Posted: Dec 5, 2013 6:50:08 AM

I often wonder how close gas companies are to true monopolies.
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reincloude1964
Champion Author Kentucky

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Message Posted: Nov 11, 2013 12:19:36 AM

Speedway is trying to get rid of the competition.They want a monopoly.Greed is their middle name.Speedway should be called Greedway.
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reincloude1964
Champion Author Kentucky

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Message Posted: Nov 11, 2013 12:17:02 AM

Speedway is the king of gas price gouging.Speedway is a rattlesnake and they hate American's.Speedway will never lower their fuel prices first but sure will go up in price first.We need less Speedway's.Not more....
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Gas4Gore
Champion Author Detroit

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Message Posted: Nov 10, 2013 9:39:12 PM

Definately go for it.
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honda0105
Champion Author Tallahassee

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Message Posted: Nov 8, 2013 5:47:53 AM

Sneakers: it depends on the region. If there's no diversification between various stations / their delivery distributor, then it may be qualifying for monopoly status.
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Sneakers55
Champion Author Houston

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Message Posted: Nov 7, 2013 5:18:44 PM

On Nov 6, 2013 3:32:53 PM, kiholt wrote:

>Can you say........ MONOPOLY

It wouldn't qualify as a monopoly because Marathon and Speedway have no overlap with the Hess filling station network.

The powers that be raised concerns about excessive market presence when Chevron acquired Texaco and Exxon and Mobil merged. When Chevron acquired Texaco, the powers that be made the divest the Texaco service station network to Shell. I know they had some divestments in the Northeast relating to Exxon and Mobil but I don't remember what they had to do. But somehow, once I think about it they had Exxon divest their stations Mobil's native marketing area and Mobil divest their stations in Exxon's native marketing area.

I know better about Chevron because I was a stockholder back then and I listened to all the conference calls. Now, all but about $13,000 of my money is professionally managed and I let their research department do the heavy lifting.
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bmsgolf
Champion Author Amarillo

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Message Posted: Nov 7, 2013 2:53:01 PM

ok
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bmsgolf
Champion Author Amarillo

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Message Posted: Nov 7, 2013 2:49:32 PM

ok
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bmsgolf
Champion Author Amarillo

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Message Posted: Nov 7, 2013 2:49:23 PM

ok
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jethro5000
Champion Author Kentucky

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Message Posted: Nov 7, 2013 6:45:38 AM

Old
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honda0105
Champion Author Tallahassee

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Message Posted: Nov 7, 2013 12:02:10 AM

all the best to Greedway states!
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madison8359
Champion Author Cleveland

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Message Posted: Nov 6, 2013 6:30:21 PM

If it's a great deal then buy it.
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GatorGuy
Champion Author Columbia

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Message Posted: Nov 6, 2013 5:58:49 PM

Great, together they could REALLY lower gas prices!
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kiholt
Rookie Author Kalamazoo

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Message Posted: Nov 6, 2013 4:32:53 PM

Can you say........ MONOPOLY
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myambro
Champion Author Sacramento

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Message Posted: Nov 6, 2013 4:31:01 PM

That would be a shame.
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D_FENS
Rookie Author Orlando

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Message Posted: Nov 6, 2013 3:04:30 PM

I hope this never happens. Let Marathon buy out someone else if they feel the need, but not Hess.

.
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goblueia
Champion Author Iowa

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Message Posted: Nov 6, 2013 3:02:45 PM

Ok
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Beaveronparade
Champion Author Hartford

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Message Posted: Nov 6, 2013 3:02:23 PM

I've never heard of Marathon or Speedway but we have plenty of Hess stations around here. Interesting article.
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ptlbizgroup
Rookie Author Illinois

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Message Posted: Nov 6, 2013 3:02:17 PM

Having traveled extensively in the east, the Hess chain stores, for the most part are good looking facilities. The Marathon stations near me are in much work repair, even the ones that were Speedway. One might think that a flagship store would be better kept.
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bearzz
Champion Author California

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Message Posted: Nov 6, 2013 3:01:06 PM

An "excellent fit" is good I suppose.
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mswillia
Champion Author Milwaukee

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Message Posted: Nov 6, 2013 3:00:57 PM

did not know Marathon and Speedway were the same
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gas_phil
Champion Author Sacramento

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Message Posted: Nov 6, 2013 2:59:58 PM

interesting
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BritFix
Champion Author Kalamazoo

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Message Posted: Nov 6, 2013 2:58:15 PM

hmm
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jetmech568
Champion Author Idaho

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Message Posted: Nov 6, 2013 2:57:59 PM

ok
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MoWhite
Champion Author Salt Lake City

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Message Posted: Nov 6, 2013 2:55:39 PM

Ok
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piggyster
Champion Author San Francisco

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Message Posted: Nov 6, 2013 2:53:43 PM

interesting
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tick1946
Veteran Author Cincinnati

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Message Posted: Nov 6, 2013 2:52:07 PM

Less competition---HIGHER prices!
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caddilac
Champion Author Ontario

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Message Posted: Nov 6, 2013 2:43:28 PM


Interesting.
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SpruceGuse2
Champion Author Michigan

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Message Posted: Nov 6, 2013 2:42:22 PM

Not really........................
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fowlcan
Champion Author Oklahoma City

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Message Posted: Nov 6, 2013 2:42:03 PM

Not in this area..... Hess is non-existing.
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