solar.. you here again?????? Go away . I thought we were done away with you here.
Listen. CASA will do eventually well as Drapkin has 8 mil shares and losing $80 mil so far. He will do something that will not depend on Seaborne IO pricing. Also CLF''s FCF is over $4/share per Value Line
I don't know who cody is . He may be someone who was here before under different SN. He seems familiar with CLF stuff.
you now sound llike surf. the ratio of debt to MKt val;is huge 160%.. They were given all the books over 7 months period while were fighting with CLF MNGT Read their Yellow Proxy what they were going to do and how fast if they control the Boardstbefore CLF lose any more Mkt value. You seem liek a NOVICE here. and NO gonna argue with you any more.
Only good thing here is CASA is losing $80 mil on CLF investment and if Goncalves did not do well in next 6 months Drapkin himself or his partner Taylor will take over. There is a lot of Fat here and must be cut .. I can go on and on... but
You guys happy? CLF down 4% yesterday and down $3.5% today on top of it SOFAR...and to think of how CASA was complaining full blast when stock was going down under Kirsch. But its OK now. Rality Check...hmmmmmmmmmmmm!!
I hope I am WRONG as i hold over 5000 shares of CLF@ AVE COST OF JUST UNDER $22 AND WISH CASA THE FLYING SUCCESS. But at this point I can't DEFEND them as i see NO STRATEGY and NO Statements from them.
Its all BS now. If there was some optimism in CASA to solve CLF's many problems, the stock would be around $20. Shorts know all this and driving down the price further. Only difference here is that CASA bought some 8 mil shares around $26 and losing $80 mil on their investment so far, BUT I am SORRY I can't defend how badly they have started out and operating in secrecy.
cody.. wtf you been This has been going around for last 3 years and CASA had all the financial numbers and knew all about the sliding IO pricing and Cliffs debt and other problems and said how quick they will fix it once they get the control.. all bloody BS and LIES!!. Remember Debt to Mkt Val ratio now exceeds well over 160% ,and if is any indication they have started out worse.
So stop defending them. I doubt it will happen even if you give them 90 days or 365 days.I had also very high hopes with them about the turn around .
You took the CLF stock down now under $16. ..and you were the one calling all SH about how badly old CLF management has destroyed CLF's Mkt Value by 85% and what and how soon you will move if get the control of the Board and the Company. It was all the Biggest BS as stock continues to go down after initial Pop up and SH continue to suffer just like they did under Kirsch and his people.
What happened to your proposal of selling or spinning off non-core assets, improving domestic operations' performance, streamlining the company and cutting the huge debt. It was all was hot air and ploy just to get votes. The worst thing is like the old MNGT you have shown NO TRANSPARENCY and have not come forth to Shareholders or WS and made statements how you going to turn around this company. Well,we are going to give you another 70 days for your 90 days plan but the direction so far is NOT looking good.
We as shareholders should had known that the HEDGE FUND does what it wants regardless of SH interested and you did very well to CON the shareholders in believing you guys and allowing you to have the control of the Board. YOUR TIME IS UP BY THE END OF OCTOBER AND WE WILL SEE.
Dow is up 95 points ..and .his POS???? CASA kept hammering Kirsch and the old MNGT for 85% decline in he stock price and kept calling me 4 times/ week in last 2 weeks before the Vote giving the rosy picture as to how quick they will FIX the ILL if they have a majority on the Board. Well they do now and stock has gone backward. Its right This is CASA's GAME and they are like a 64,000 lbs gorila now who has a control of the Board and company and will do whatever they want and whenever. We all Longs are at their mercy and DOW or markets will have NOTHING to do in the movement of CLF's price anymore.. Just as simple as that. I am as much culprit as any other Longs who voted them in
By the way I called their IR guy Donovan 3 times and just like Jassica Moran( with old CLF) ,he NEVER
returned any call. We will see what Goncalves does in next 90 days...wait &see!!I
Thats is the only hope ..long!! that they bought @ $26 and somehow they will recoup their investment but WHEN?????? When they were asking for your and my vote, they were, acting as if they will act the NEXT DAY they get the control of the company. Anyway I am willing to wait but remember they made the biggest deal of this stock down 85% under the old MNGT and they are NOT doing any bettter.
Now the excuse is that they need more time like 90 days to implement their plan. Ok I am willing to give then till end of October and will see what they do.
This stock goes down huge 4% or more while Dow is again up by nearly 75 points and you people think its all good and giving options related excuses. This MNGT is just as bad as old Kirsch MNGT.... NO transparency.. No visibility.. No statements... If anything WS hates is NOT knowing what CASA is up to. I was all up for them but they have failed to STABILIZE the stock price.... it swings huge more on the lower side.
They need to sell some thing bad and very soon to cut the heavy load of debt. Wabush is the best start. I hear some rumbling that Wabush Sell is imminent and will be announced very soon.
Stock almost ready to go under $16. CASA probably borrowed more to pay Severance packages and to pay dividend and added more debt. I thought they were to cut debt and sell some assets fast to stop CF bleeding.
Down 2.5% alreary at the open @ $16.30,.. No legs ,No stability.. no matter how you cut it. People here keep saying give then time more time. What we need is for this POS is to stabilize at some point. While the Dow is up over 300 points in last 3 days. CASA is behaving just as bad as old CLF MNGT... No visiblilty, No statement.. and all secrecy.
The word I hear is that Wabush sell in in final negotiations at a decent price.If true thats good news and in right direction.I was only hoping that when the MNGT changes this stock might make a move to $20 and hold there. Thats all. I am willing to give them 90 days to execute their plan.
One good thing here is that CASA has 80% its assets vested in CLF @ $25 plus. So the stock will eventually get to $30. I am NOT worried about that though I would like to see that Goncalves make some positive statements to WS and shareholders. about Cliffs.
skit..not true. Go back and read what CASA has said. They had said they will get rid off all the non-core assets as soon as they take the control of the company and concentrate on US operations. They were provided with all the financial info when they were contesting for Board seats. So they knew what they had to do for a very LONG TIME . so its all excuses. If BHP can shed assets,,so can CLF.
You are insulting me when you say i am acting like that solar dude. long has been right about you keep changing your positions all the time.
Somehow, there is a perception on WS that Cliffs is beyond repairs and can not compete against big boys like BHP,VALE and RIO in a low IO price culture . That is why Shorts are NOT afraid to short this stock when it goes past $17. So its even more IMP for CASA to get rid off Wabush and other non-performing asssets ASAP and concentrate on US based domestic operations and get out of dependence on Seaborne IO pricing.
Thought CLF can do worse under CASA and Goncalves than it did under Kirsch and Halverson. CASA has NOT followed up on how quickly they will divest INT assets as soon as they take control of the company, and how OPEN and VISIBLE they will be in the interest of Shareholders. The stock remains Unchanged from Old CLF time @ $ 16.50.