IMAGINE...By continuing ongoing SG&A Cost cutting and limiting CapEx . They MUST expand US IO sales and Margins. Tariffs and Infrastructure will help and they must take advantage of it. Pouting will do Nothing, get rid off other assets and generate cash to pay down debt.
CLF SP down over 5% @ $1.44 and Dow down 155 points.. any co-relation or just Earnings related? It doesn't take a rocket scientist to fix this company. its very simple..
Expand US IO pellet operations w/ great Sales personnel
Develop DR pellets relationship with NUE Steel
Keep cutting SG&A, CapEx, Interest and DD&A expenses and get rid of IR Dept.
Cut down Debt with Bond Exchange and from Cash Flow.
Expedite BL CCAA Process and sell Ports and Railways and get some cash to use for debt reduction
You will have to wait for whole this year to take a Tax write-off. You can wait out for a while and still sell any time later in the year and take a write-off when SP likely may go up a bit. CLF is in a much better position now than ever in last 2 years..A CLEAN SLATE
mrkt.. Don't throw in a towel now. You can hardly gain anything but huge loss. Wait for another QTR now that CLF is out of BL and NAC and T ariffs on cheap Steel Imports are coming along with
$300 B Infrastructure. THEWORST MAY BE OVER FOR CLF..IMO
nick.. Thanks. I am just as disappointed as all of you Longs. But I hope LG is doing something right about all the mess he is trying to get out that the previous Carrabba and Kirsch MNGT got us in
Oh Bro... shorts are now ready to attack SP now but the stock price holding steady. LG once said in CC soon after he took the control that its going to take 2 years to straighten out and clean out all he mess this Company is in. He may be right and this may be the beginning.
And Not half empty. Optimist that this Company will be lean now and need to start from scratch as a new beginning. Hate to keep waiting for Another QTR. LG has a lot of work to do with revenues down so much (54%) and still a lot of Expenses related to Interest, SG&A, CapEx, DD&A.. How to line up expenses with the revenue and report profit will be the biggest LG's problem
This is NOT Good. LG Should and Could had done a lot better. SP value is getting slammed so bad. Hope this is the end of all the bad stuff cleaned out now and LG makes a new beginning with smaller and leaner and meaner corporation with mostly US Operations.
If it was that simple that CLF can buyback $2B debt with $240 mil bond purchase, they would had done it a long time ago as they they have cash or borrowing power. We will see what LG has to say about this
I think because of NAC sale and No more BL expenses , Manpower will be down over 1100 and Capex will be so low that they will be able to report earnings even after paying off some $100 mil of debt and USIO sales of under 18 Mil MT. APIO will be also EBITDA positive. Also 2 US IO mines in MN are idle and 1 APIO mine are idle cutting cost further. LG will bring out some positive surprises..IMO
oht is working for the hedge fund, I think . He will be gone when CLF turnsaround. until then we will have to just put up with him.
It will make up from losses it was reporting in previous QTRS for BL and NAC coal. I think earnings will be positive..IMO
What happened? This Bloody thing WENT down a bit in huge UP markets. Hope it doesn't disappoint us
tomorrow. Steel stocks had good earnings and X, MT and NUE all went up from 5% to 12%.
CLF needs earnings of at least $0.10. Generally, They surprise SH and WS with good earnings in Q-4 QTR. Will see what the good old LG has to say in the CC. His plate gonna be full.. FCX also just report lower
loss and the stock moved up in AH. GOOG LUCK all LONGS!! The day of reckoning is almost here.
I already said it in my Post that CLF as a part of 5 hated stocks that you should love during this earnings season per The Street.