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.
This POS just hunt though Dow is up over 250 points in last 2 days. I Thought all this will change when CASA took over but same #$%$. I have never seen anything like this where the stock does nothing and Drapkin think it is worth $53.. well put your money where your mouth is. I was hoping to get out at$22 or above but it never happens for me.
I bet they borrowed more money to pay ex-executives some $26.9 mil under the Compensation plan and may be to pay us dividend and they were supposed to CUT the DEBT..HA HA!!. Shorts have now CASA's number figured out. They must sell atleast Wabush ASAP to cut debt.
ok give them 90 days but #$%$ the stock is regressing and not atleast stabilizing?Tell me what the shorts know that we don't know. There are NO more Excuses here no matter what and who says here. Stock has gone in $16 after hitting $18. With CASA, I expected stock price to be around at least $ 20 now. Like Kirsch, I see NO TRANSPARENCY with CASA either. So STOP defending them!!
This POS just cant do anything...under Kirsch or Goncalves.. What it needs is someone like Icahn who is always DETERMINED to STRAIGHTEN things out his way. CASA was just a lot of talk and NO action when they said they will move so fast to sell or spin off some assets ..
yea..but if BHP can do it , so can CLF. Drapkin and CASA had been pressuring Kirsch and Halverson to sell or spin off non-core assets since January and were wondering why they were not doing it. Now the shoe is on other foot and CASA and Goncalves are in control, they are doing the same thing. stalling..and more stalling. I, now ,understand the plight of old MNGT. Not easy to sell.
Atleast Goncalves, needs to show more VISIBILITY and OPENNESS and make public statements.
Shorts have got Goncalves number too and they are NOT stopping shorting CLF stock.
BHP is spinning off a lot assets... just heard. CLF needs to do the same and FAST. Talk is cheap.
Stock back in $16..just like when Kirsch and Halverson were in charge. Goncalves needs and MUST make some public statement as to how they are going to RESTRUCTURE this company and what they going to sell and how soon. There was a lot of HOT air when they were going for the Votes. Now we hear NOTHING except them making big severance payments to Ex-Executives. This stock has lost more 10% under new MNGT now.