I don't think you could put a list together of more QUALIFIED Board members to shepherd MFC's assets for the BENEFIT of ALL MFC Shareholders. I do think MJS is showing a complete lack of shareholder stewardship by not letting Kellogg present his proposals and Board candidates through the MFC proxy forum.
One other point worth mentioning in my opinion: Perhaps, just perhaps, we can now find-out just how many shares MJS owns (directly and indirectly) and perhaps get a COMPLETE list of ALL Employee ownership (direct and indirect)...In ALL the years and incarnations of MFC, I don't ever remember seeing those statistics presented.
Sentiment: Strong Buy
I find it Absolutely Amazing...Kellogg's been parked for a good-many years on a goodly-chunk of MFC as well as a good-many of its spin-offs and said (publicly) very few words, and suddenly, after MJS gave one of his worst-ever(IMO) conference calls which was preceded by his previous worst-ever(IMO) conference call which followed the India financial DISASTERS (for MFC) in Oil and then Iron...Kellogg INCREASES his position from 20% to 33%, calls for a rules-change and nominates 8 (EIGHT) Highly Qualified Candidates to serve on, broaden and expand the knowledge base on what has been an underperforming board and shrinking shareholder returns and what does MJS do?? He places every impediment at his command utilizing MFC capital resources to thwart the beneficial efforts being attempted by Kellogg to right-the-ship on behalf of ALL shareholders...Based on Public Filings, it appears to me that Kellogg's got a whole lot more MFC shares and a whole lot more of his personal bucks on the line than MJS ever has.
Personally, I think it's time to change the game and Kellogg's on the right track...
Change It OR Liquidate...Way overdue for a better return on assets to benefit ALL shareholders.
Too many assets and too much cash not bringing a proper return to shareholders in my opinion.
Sentiment: Strong Buy
This is TRULY a milestone in the History of MFC...
Ain't seen this much excitement on behalf of shareholders since the days of the Mercer suit...
and we (shareholders) made out like bandits on that one.
The corn, she'sa startin' to pop.
I think Mikey's got a "control" problem.
If ever there was a time to be Loooooong MFC, this could be it!
Well, having listened to the call, and having listened to MJS's "clarification" (LOL) of the new COO and the "explanation" (LOL) of the "rights" and their "benefit" to the shareholders, I have but one comment:
The "information" disseminated in much of this call was a pile of Dog Poop!
Fascinating to say the least...
Watching Kellogg become a visible Activist Shareholder and the belated response of MJS.
I think all MFC shareholders stand a pretty good chance of seeing greater value realized before this "friendly" discussion is over.
On another note...Watching Mercer do its current run leads me to another "possible" change for MFC...
I'd like to see Jimmy Lee back in the MFC management structure...
What a team when Michael/Rennie/Jimmy ran the show... A LOT of outstanding synergies!
They, like myself, are all Old(er) Farts now and, for some, more wisdom comes with greater experience.
The call this week should be MOST informing and "educational".
Anybody else notice who was listed as a shareholder being bought-out in the KHD take-out?
(See Olga's Oct. 11 post)
I think "we" (MFC shareholders) are gonna get a few bucks out of the deal.
Luv that cash!
Looks like MFC is about to get a whole lot more "interesting"...
Kellogg's got A LOT of muscle to flex and I don't think MS is Kamakazie enough to ignore any "suggestions" Kellogg may tend to offer...I think we (the shareholders) are in for an interesting ride.
From these price levels "value will be realized", and we think that "value" will be significantly higher than today's pricing...Sounds like a bit of a roller coaster coming-up.
sure be nice if yahoo did their job...
sooner or later ya gotta be able to "block" a "sender" so you don't have to put-up with this kind of BS.