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Cliffs Natural Resources Inc. Message Board

  • imaginejml Jul 9, 2013 8:36 PM Flag

    Does today's massive shakeup mean:

    1. The BOD has finally said enough is enough, as recent daily negative press on the company pushed this board over the edge?
    2. Earnings are going to be a disaster?
    3. The CE O himself realizes le lost control and may be out of his element?
    4. Something else going on?

    They even stripped him of his chairman role immediately. Tis is so damn huge.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • The former BOD head-the Aussie was Carrabba's yes man-when he was forced out the balance of the board finally did what was necessary-get rid of Carrabba and Bralas-wonderful day!!! Long time to happen.

    • he is a muti millionaire he is 60 why not retire you must be short good luck to you . amazing good news and all the shorts are now crying stocks and bonds are for big boys

      Sentiment: Buy

    • The delay in Carraba staying on, e.g. until a new chairman and a new CEO are found, makes it unlikely he was pushed out. I've been hoping the Board would push him out, as I think he overshot with the Consolidated Thompson and other deals, and should be responsible for the mess they have made of CLF's balance sheet as a result. But it looks like his departure is basically voluntary.

      Brlas's change, on the other hand, was "effective immediately," which is code for "the Board canned you." She was the president of operations. I think it's fair to say with the delays at Bloom and icing the Ring of Fire project that operations weren't exactly going well at CLF recently...

      Sentiment: Buy

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