Howdy folks and I’m glad you’ve found yourself back at HHR. Today we’re talking about what’s likely to become a local issue within the next few years, the underperformance of Circle K. Depending on your age, you may remember the giant red K’s, first go at Houston. Despite being founded in El Paso during the 1950s, Circle K has never had an easy go of Houston. Their first attempt at expanding here started in 1983 with their purchase of U-Tote-M Food Stores, from an insurance company that had purchased them as an investment. However, the iconic Totem Poles weren’t immediately …
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It’s been how many years since Circle K bought our Corner Store?!
In 1977 the Valero Energy Corporation was formed by the State of Texas, as a successor to a failed natural gas transmission company that Coastal had set up years prior. In connection with the Texas Railroad Authority (nothing to do with railroads), Coastal was allowed to build a multi thousand-mile set of pipelines, that supplied natural gas to city utilities. Most large Texas cities were tied into the Coastal system, with the unobtainable promise that prices would never rise. Then the Energy Crisis of the 70s hit, natural gas prices skyrocketed and all of a sudden Coastal’s pipeline subsidiary was …
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