Don't think the economy is that bad and .25% increase can't do much harm. Not raising it will make the market think the Fed knows something that the economy is too bad off.
We really need higher Fed Funds to get money off the balance sheets of banks and out into the economy. We have seen the largest growth in the money supply in history, yet we have no inflation. It is because the money is not finding its way into the economy. Instead of giving the money to the banks at zero rates, they should have spent it on a big infrastructure build putting the money into the economy through the workers.
The claim form is not in thousands, their claim is only $12 thousand 3 hundred 77 dollars. I don't know if it is in US or Canadian funds. If it is Canadian, the total is much less.
There are several pages of claims totaling over $1.6 billion which is a lot considering they went through the CCAA a little over a year ago.
At that rate, you should be able to have lunch with LG, of course it will be your treat. LG will pick up the tab if you hold over 1 million shares.
Many funds have restrictions on stocks under $5. Once CLF climbs up over $5, some of these funds will return, I hope! But I think LG is quietly working with individuals to take shares off the table that shorts will need to cover. Once LG announces positive results with the CCAA, the shares will not be there for the shorts to buy.
look at it this way: Institutions hold 60 % of CLF, insiders hold 11% and mutual funds hold 11% for a total of 82%. Now add George's 8% and that raises it to 90%. Are any of these holders going to sell shares to shorts to cover?
Even if interest rates rise 2 percent, that is still low and it would prompt banks to lend some of the money they are sitting on. Maybe builders will be able to get money from the banks to build specs and develop land. Right now builders have to find private money at much higher rates than what banks would be if the Fed raised rates by 2%.
Construction influences the US economy more than any other sector.
Kings Mountain is to the south, near S. Carolina. At 6700 feet, you can see the Black Mountain range from Mooresville which on the shore of Lake Norman you are at 780 feet.
I agree, CLF does not want to own a steel mill, let alone one in Canada. Still believe CLF's end game is to drive Essar out of Canada which will result in Essar leaving Minnesota.
Shorts are allowed to spread rumors and make totally baseless statements. Fortunately posting here on Yahoo has absolutely no impact on the price of the stock. A few days ago I made an attempt to bring these false statements to light on this very topic and these bashers continued on with stupid attack replies, not offering a single fact.
Douglas Taylor is Casablanca and he buys and sells these shares for Casablanca which are reported on the SEC form 4. It is clearly stated those 675,000 shares were disposed of on behalf of a trust administered by his wife for his kids. No reason for the sale was given. All this information is listed on form 4 in the footnotes.
The reason I am replying to your posting here is because I refuse to reply to these senseless basher postings.
Yes you can, due west off the north part of the lake. At least my old fishing buddy told me it was Black Mountain, the highest point in the area.
"Snort interest", that can't be a typo, I like it. This morning I see where some are thinking China has bottomed in the cycle and we should see things moving up from here. Even though CLF really isn't in the Chinese market, it does have a big influence on the world commodity market.
But first we just need to get these assets sold and the debt down to $1 billion or less. Then CLF can get out from under this huge interest rates.
I have given up on speculating where the price of CLF will be, all I know is trading the stock at the current level is very low risk.
When I was lost on Lake Norman, I would use Black Mountain as a reference point to find my way back home. Anyway, you and my wife are both disappointed here. The short interest is fighting every advance and diverting the attention to trumped up matters such as the "sale of stock by Casablanca", "no value to Wabush" and CLF's current debt.
I think Essar Algoma and Essar Minnesota are two different subsidiaries. Algoma is in the CCAA while Minnesota is not.
"Samarco Mineração S.A. is a Brazilian company engaged in the mining, beneficiation, pelletizing and export of iron ore. The firm has four pellet plants in Anquieta municipality, in Brazil's Espírito Santo state, as well as three concentrators in its Germano plant in Minas Gerais state. It also has a port terminal in Ponta Ubu, Espírito Santo, sales offices in Belo Horizonte and Victoria, and two international offices in Amsterdam and Hong Kong"
Since they don't have sales offices in the US, they may not be shipping ore here and could be the reason we didn't see a bump up. But all of these plants and port will become the property of Brazil as the cost of this disaster soars.
I was reading the court orders from the bankruptcy. Essar has secured financing through this bankruptcy and a key part of it is keeping the steel plant running to provide some of the cash required. They absolutely don't have to pay bills for materials received before the filing and there are some provisions that may allow them to delay payments on materials received after the filings. I am sure LG won't get trapped into sending ore for free, and will force Essar to pay for past due invoices and legal awards. LG's end game on all of this may be to shut down Essar Algoma for good and send Essar Minnesota back to India.
Guess this isn't Canada and the CCAA! Samarco has a $1 billion insurance policy which won't even come close to covering the cost here, if the insurance will have to pay due to negligence.