his posts are too long and biased - i can't even bother to read - He ignores facts at will, posts generalities and then backtracks without admitting wrong. The bottom line is I really don't care what he has to say at this point and he doesn't really add much in my view. To bad because dissent can be healthy
yes - this week/quarter will be most interesting...off on vaca myself so post back in a few weeks...
there is no way institutions are going to give control of co. to a hedge fund/corporate raider with only a 5.2% stake....Drapkin should have pooled together with ross/watsa/marks etc. etc but my guess is they want nothing to do with him
i think the point is Drapkin is behind the lawsuit? Maybe that is how he's going to try to make up his $$$s when he loses
the question is whether you want to give control of the company with over 2bn market cap to a small hedge fund that owns maybe 100mn in stock. Why should Drapkin et. al. get CLF? They are guaranteed two seats...is that not enuf? And what experience does Drapkin have with an iron ore miner. In fact, what is his experience as a corporate raider?
also it should be noted that they are not "dumping" 50mn shares but will issue new equity as needed, to fund new ships, quite possibly to institutions that want in....
last data more like 9mn short and 15 days to cover but yes, at 15% of float, decent short interest....most important is that Suez and Afra maxes have jumped in rate so Q2 is shaping up pretty decent much to the chagrin of the many who were looking for a weak summer season...and we still have the Q4 bump to look forward to.
yes but Drapkin will not...he'll own the bankrupted company for a song because he will "recapitalize" CLF with senior secured debt to get to the top of the credit pecking order.
well after reading all this can't you just picture Drapkin down in one of CLF's IO pits - "VOTE FOR ME and I will tidy up all those dirty mines so me and my “beautiful, air-kissing" friends can show you how its done!"
you have to hand it to Slaine...hubby gets tossed in the clinker so dump him and nuzzle up to Donnie then get a break up and a cozy little east side duplex.....maybe we should vote her onto the board!
yeah think about it...best friends worked w/each other 20years...billionaire and multi-multi millionaire...and then they stab each other in the back for what started at $5mn and got to 20mn b 4 settlement.....makes me feel warm and fuzzy
here it is: "Please vote for me. I know I'm a corporate raider and have screwed shareholders in the past to the benefit of me and ronnie, but look, I give a ton to charity, I go on TV with my son for father's day, and my wife is a hottie in west palm -- soo VOTE FOR ME!"