David Michels in The Wall Street Journal
For Kinder Morgan, a higher tax would mean lower stock prices are needed at the time of share repurchases, Chief Financial Officer David Michels recently told the The Wall Street Journal. “We only really consider share repurchases when we have an attractive repurchase price,” the CFO said. At 1%, the excise tax is a consideration, but not a very large part of any decision on buybacks, according to Michels.