Directors and Executives really looted this this Company by including the Compensation Plan in their white Proxy booklet. Anyone read what departing Directors or Executives get if they are terminated? Its
With big Severance packages anywhere from $1 mil to $10 mil after the Compensation Plan was approved by barely 56 % vote( pure stupidity). This is after they destroyed 85% of SH value. This is too much for a small company that is trying to regroup and survive under the new Management.
MNGT can't do a thing to drive out Shorts. CASA has its own agenda and a 90 day plan, and Shorts know it. If they think CASA plan will move the stock higher ,they would be foolish NOT to cover. But CASA can't drive them out. They have to do their own dirty work and if they want to lose more money its up to them.
Shorts should cover before 8/13 or double whammy. CLF stock going up and then also they will be stuck paying dividend to LONGs. No easy way out.
CASA is the best thing that happened to Cliffs. If you read the CLF MNGT's Proxy report, the directors and executives were to loot the company if the Compensation Package on the ballet passed and they were terminated. CP passed by 56%,.So whoever gets terminated WILL GET any where from $1mil to $10 Mil in Severance package.
This is nothing but a loot from a small cash threatened company as these people really were not for company's welfare but just for their own. And therefore they didn't care if stock went down 85%. This makes me so freaking mad, and just wondered what might had happened to this once a fine old landmark Iron Ore company if CASA had not come to rescue it.
CLF going EX-dividend $0.15 on 8/13..so the stock price will climb as Longs try to get is and Shorts try to cover to avoid paying dividend. By tomorrow , CLF can hit $19 price.
US Ore...47%... very profitable
Eas Can..18%....... Deep Losses
Met Coal...13%....... Small Loss
So if CASA disposes off Can assets , the company will be quiet profitable even with Met Coal still in possession. This is exactly what CASA wants to and is going to do.. sell Can operations First and cut the head count and other cost.
skit..good news is that WS believes CASA will dispose of Eastern Canadian assets and as a result this stock is now moving up crossing $18 @ $18.14 up 3% right now. More good news finally coming.
I told you so it will close around $17.50. It actually closed @$17.51. How about that. Carnac the magnificent strikes again....lol
hrd..CLF may take a long time to get to $50( can't telll how long.. if commodities cycle reverse it can happen in a couple of years) but it will likely get to $35 in about an year. So have patience. CASA is determined to turn it around. Read some of my posts here.
Where did solarmike, roy , oht and other bashers disappear ? Those who are still bashing CLF here and shorting better cover. First, Its going Ex-Divy on 8/13. So Shorts will have to fork out $0.15 dividend and next, CASA is determined to improve CLF's Domestic IO business. Goncalves is already talking to US Steel companies, and they have plans to dispose off some bad assets and will disclose them shortly. The stock has begun a slow move upward already.
This stock has remained depressed terribly for too long. I think CASA is the right party to control this company and restructure it, and get rid off lousy assets. This will scare away a ton of SHORTS and make a way for the stock to move up. Goncalves is talking with US steel companies for expanding CLF's business here. His Metals background and huge experience should help and the WS may begin to recognize it. DJ now upped Cliffs price from $10 to $14.