I initially looked at CLQ because I remembered (Kaiser?) it having Sc. Soon after I suspected it had some of the attributes of a moated company with its eco-divisions using Sc.
http://www.investopedia.com/articles/fundamental-analysis/08/moats.asp
With the boss selling 59% of the stinky air division this fit in with my moated company thesis. In the Eureka interview -- MANY Thanks Bomber78 -- at ~5:17 Mr. Riggall details why CLQ sold that 59% stinky air stake, because it was in a highly competitive market (Ssshhhhhhh, don't tell Tony about anything environment) therefore not a moated division. Smart.
OV
PS Newbies may now enter at the spp level -- floor?
Moated Companies
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