I can only assume that Krebs has ideas of being a world powerhouse in mining and not forgetting the ( etc)
Some people have tunnel vision and are said cannot see the forest for the trees .
Kreb's could very well have bigger thoughts encompassing the world .and Chicago would certainly be a place to put the plan together and keep momentum going .
I think anyone with vision of growth should be able to see that ..
There are not many very large corporations in little towns with difficult world traveling access and not close to large banking and financial institutions .
I did spend two years of my life in Spokane , Washington and that is considered the "BIG CITY" nearest to Coeur and all though I loved the area , I could not see trying to build an international company right there .
Chicago is centrally located with access to most anything needed in business .
You can keep good people running certain divisions and call them back to corporate headquarters once in a while .
Kreb's must have more than one reason other than his wife being born or growing up in the area .
Sorry, eDee, but this "move", and "name change" is ridiculous.
I'm seriously surprised the Lpet has not made a less than, "This is Dumb", comment.....especially the slaughtering of a historical companies name using "Ebonics" (was foo behind this decision, lol?). Maybe I missed it------been busy putting-out margin call fires (not lol).
Plus, I bet "corporate expenses" are going mushroom....rents/leasings, lower level workforce labor costs (Water-closet Engineers, and all other Support Staff), "meetings" at the local watering hole, greens fees, parking/transportation costs, catering for presentations.....the list is infinite when you compare I-D-Hoo to the Chicago area for the general CODB.
At least the Mrs will be happy.......could be a game-changer in Krebs performance.
nsxt_ There is no slaughtering of an historical company name. They have been using COEUR in all report narratives and news releases for over a decade....at least.. Did you read the Chicago news release posted on the Coeur web site? The rationale for moving is well described by the mayor and others. Important information is in the slew of economic development goodies the company gets to headquarter there, especially the tax breaks.
The "big" neighboring city, Spokane has not in my opinion treated the local mining community with due respect. The local news gets more excited about a new Starbucks coffee shop than they do about a mining expansion that creates 100 new jobs. A point not covered in the release is the fact that there is some number of funds that have back balled investment in North Idaho due to an unjustified belief that the area is a haven for racist groups. Nor did they mention in the release the value to the company to being close to Federal Gov connections. This to me could be the most important benefit to Coeur. US foreign policy treats the South American countries with extreme disrespect on some very important issues. This is especially true of Bolivia and Argentina where some good government to government negotiation could perhaps moderate the nationalization and tax issures. The US has lost influence with the new left leaning countries. With Chicago jobs in play there will be incentive in Washington to moderate some of the most objectionable US positions and create a better relationship with these democratic nations.
As much as I am disappointed with the move for personal reasons, I think it is a good move for the company to make.
chicago/mexico city and joe phillips getting palmrejo straighened out and building several mines in mexico -kebbs nailed a good one -nxst go read his job history with paas and ssri-impressive-impressive results-moving away from last vestiges of wheeler era-krebbs is going to be one powerful guy in a few years only in early 40's-
Good Day Edmund
I saw COURE and thought it was the result of your spelling habits but I apologize for my thinking .
Hear your Prince is coming to New Jersey to see the devastation caused by hurricane Sandy .
Our ( King) Chris Christie will give him an eye opening tour .
The weather here was a bit better yesterday and my Wife and I took an evening drive down the coast from our house which had virtually no damage and no damage to the family house either which is right on an ocean front lot .
My house is 3 blocks away from the ocean
Too many home owners and builders have built houses on those ocean lots having no respect for what the ocean can do .
With this beauty there was a.tremendous amount of damage even many blocks from the ocean .
Took a considerable time to get here and hung around enough time to do a helluva lot of damage with her wind , torrential rain. and extremely high tides .
The moon tides and the combining of a Nor'aster and a huge hurricane with winds and waves made for the biggest storm in our history . .
I have lived in this beach community for over 80 years as I made my first visit here in my Mother's womb even before they built their own family beach house .
Will hopefully talk to you later as I have been doing paper work all night !