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The TJX Companies, Inc. Message Board

w999surf 322 posts  |  Last Activity: Feb 8, 2016 7:49 AM Member since: Jun 25, 2012
  • Reply to

    how

    by mlefkowitz Dec 22, 2015 11:14 AM
    w999surf w999surf Dec 22, 2015 1:21 PM Flag

    Red, same to you and your family as well. Looks like we will have a white Christmas so I will be spending a good part of it clearing 300 feet of driveway, kids will have fun.

  • Reply to

    how

    by mlefkowitz Dec 22, 2015 11:14 AM
    w999surf w999surf Dec 22, 2015 12:57 PM Flag

    Read it carefully, any bidder that provides a bid and a verifiable source of funds is a preferred bidder and agree to buy the asset for the bid amount. In the case of more than one preferred bidders, there will be an auction. You really need to review the whole CCAA process.

  • Reply to

    how

    by mlefkowitz Dec 22, 2015 11:14 AM
    w999surf w999surf Dec 22, 2015 12:41 PM Flag

    And, since smaller cap does not provide any support for his statements, I have him on ignore and don't see his postings...

  • Reply to

    how

    by mlefkowitz Dec 22, 2015 11:14 AM
    w999surf w999surf Dec 22, 2015 12:34 PM Flag

    From The Champion Press Release:

    "Champion Iron Limited (ASX: CIA) (TSX: CIA) ("Champion" or the "Company") is pleased to announce that Québec Iron Ore Inc., a wholly-owned subsidiary of the Company, has entered into an Asset Purchase Agreement (the "Asset Purchase Agreement") to acquire, subject to Court approval, "

    I just don't pull this out air without support… Just wish others would do the same.

  • Reply to

    Cup & Handle

    by random_person_that_you_dont_know Dec 22, 2015 11:54 AM
    w999surf w999surf Dec 22, 2015 12:28 PM Flag

    Never fully understood the whole cup and handle thing, I will continue to stick with 4 ice cubes and three fingers. If it helps move CLF up, I may up it to four fingers.

  • Reply to

    how

    by mlefkowitz Dec 22, 2015 11:14 AM
    w999surf w999surf Dec 22, 2015 11:40 AM Flag

    Last check the CCAA has not approved this purchase as specified in the Champion press release.

    Now, based on the current bond prices, if CLF comes out of this process with $250 million, they could retire $1 billion in debt. We are not getting any firm news, just speculation which CLF is letting run wild.

    And you guys have a merry Christmas.

  • w999surf w999surf Dec 21, 2015 10:08 PM Flag

    Yes, I have seen pensions evaporate over the last 15 years as the promises cannot be met. Just like the US Air employees that saw their pensions reduced through two bankruptcies. However, I don't see BK for CLF as the nearest bond that is due is covered by cash and an untapped credit line.

    I don't see much of a change in iron ore in the near future, however valued added iron ore pellets will remain solid. Coal is under attack while DR pellets offer a viable solution.

    But for you, drawing a pension from CLF, it may not be wise to be heavily invested in the company as I have seen US Air employees lose everything. Again, that is something you need to consider on your own…

    Still working on the Chipmunk rug which I have named the Skittle Carpet.

    I have thought about you often and hope all is well.

  • w999surf by w999surf Dec 21, 2015 7:37 PM Flag

    the fact that it is CLF that can supply Essar with the iron ore pellets they need at a fair market price that will allow the steel company generate much needed cash flow. Essar has gone as far as to press CLF to supply their needed iron ore!

  • w999surf w999surf Dec 21, 2015 4:30 PM Flag

    You have been directly involved with coal over the years and must understand the commodity cycle better than most. Yes, this one is deeper and lasting longer than ones in the past, but it still operates within a cycle. Your decision to buy or sell is one you make for yourself, good luck with whatever choice you make.

  • Reply to

    Why CLF's Port is Important to Quebec

    by w999surf Dec 21, 2015 10:54 AM
    w999surf w999surf Dec 21, 2015 3:18 PM Flag

    Bart, MT owns and operates the western rail system from their Mont Wright mine to their port. Iron Ore of Canada owns the eastern route. What Quebec does not want to see is for one of these to be shut down because of financial troubles. Plus Quebec realizes that the high cost of transportation is holding exports back.

    Comeback, CLF is not involved with the infrastructure, but they do own the property. Quebec wants this property to develop a much needed industrial park.

  • Reply to

    CLF Should be Making Money Regardless....

    by vipinkot47 Dec 21, 2015 12:35 PM
    w999surf w999surf Dec 21, 2015 3:09 PM Flag

    In the current iron ore market, there is not a better market to be in than US iron ore pellets unless US iron ore DR pellets take off. Let the big three fight over the Chinese market! Let all the other miners dig dirt and CLF can build their value added processing of iron ore into pellets. CLF just needs to promote their business model to the market and support their share price.

  • Reply to

    Why CLF's Port is Important to Quebec

    by w999surf Dec 21, 2015 10:54 AM
    w999surf w999surf Dec 21, 2015 11:53 AM Flag

    Out of all the assets CLF has in the CCAA, the port is the only one not tied directly to iron ore and is the one asset that can earn money with exports growing in Quebec. With Quebec looking to provide a low cost transportation system, I can think of two companies that would not want them to succeed. IOC and MT have the most to lose if Quebec moves forward with their public system.

  • Reply to

    Why CLF's Port is Important to Quebec

    by w999surf Dec 21, 2015 10:54 AM
    w999surf w999surf Dec 21, 2015 11:29 AM Flag

    From Mining Weekly:

    "To this end, the Quebec government had granted C$20-million for the feasibility study of a new rail linking the Fire Lake/Bloom Lake area to the port of Sept-Îles. This study was being managed by Champion, and was expected to be finalised in 2016."

    Now, the deal to buy the port facilities by Quebec may be contingent on having Champion operating BL. LG must know and he is not talking….

  • Reply to

    Why CLF's Port is Important to Quebec

    by w999surf Dec 21, 2015 10:54 AM
    w999surf w999surf Dec 21, 2015 11:16 AM Flag

    So, I have not seen a single confirmation of the Champion deal other than Champion's press release that said it was subject to CCAA approval.

    The port and rail systems is worth $200 million as published by Quebec. Furthermore Quebec is committed to place these assets in public control to prevent future shutdowns by private companies confronted by economic conditions limited to their business. If I were to guess, I would say Quebec would bid $100 million and willing to go into an auction with full commitment to win the bid at any price.

  • From the Canadian Press:

    "A new forecast by the Canadian government's lending agency says Quebec's highly diversified economy is on track for a 10 per cent increase in exports this year and eight per cent growth in 2016."

    Not only the port facilities, but all the prime real estate to expand the industrial park.

    Still no confirmation on the Champion bid, looking more like a bid which requires them to submit the confirmed funds to the CCAA. Looks like CLF will see an auction in the end.

  • Reply to

    NUE Should Buy CLF for only $10/Sh...

    by vipinkot47 Dec 21, 2015 10:08 AM
    w999surf w999surf Dec 21, 2015 10:42 AM Flag

    Steel companies tend not to buy supplies from a competing steel company and I doubt that Nucor could maintain iron ore sales. Because of the nature of DRI, Nucor could be the sole supplier of DRI to all the small electric and nat gas steel mills in the US and CLF could be a part of this while maintaining a dominate force in the iron ore pellets for blast furnaces.

  • Reply to

    NUE Should Buy CLF for only $10/Sh...

    by vipinkot47 Dec 21, 2015 10:08 AM
    w999surf w999surf Dec 21, 2015 10:22 AM Flag

    Nucor will not buy CLF, their best option is to buy DR pellets from CLF and process them into DRI pellets of their use and sell them to other steel mills within their immediate region. CLF is the only iron ore producer that can supply Nucor with the required quantities of DR pellets at the right price.

  • Reply to

    USW and US Steel reach pact agreement

    by ironorestrong Dec 20, 2015 9:42 AM
    w999surf w999surf Dec 20, 2015 10:35 AM Flag

    From the USW:

    "This tentative agreement represents a major step forward from the position we found ourselves in earlier this summer when we were facing relentless company demands for deep and permanent concessions. As you know, this has been a difficult year and one of the most difficult rounds of bargaining we have faced, but knowing that we had the solidarity and strength of the membership behind us made all the difference as we attempted to stand up to the company’s most onerous demands.

    As you know, our industry is in the midst of a crisis. But we have been determined not to be forced to pay the full price for the problems of unfair trade and global overcapacity. Our goal throughout this process was to make sure we were not made scapegoats for what are global and, we believe, temporary, problems."

    This tells me they have reached a temporary agreement based on the price of steel. Giving in to concessions with the low prices and will take them back as steel prices go up.

  • Reply to

    I have to say....Mgmt should make a statement

    by thedeathrace Dec 18, 2015 3:50 PM
    w999surf w999surf Dec 18, 2015 6:56 PM Flag

    You are right, if they had not moved through the CCAA, no one would have paid enough to cover these liabilities. It was always LG's end game to shed these liabilities and anything he got out of it would be extra. When there was talk about multiple offers for BL, there was always hope they would get $500 million. In any case, we have to wait for the CCAA to play out.

    One thing is clear, Canadian iron ore cannot compete in the world market as long as seaborne iron ore is below $80 and it cannot compete in the US market as long as there is a $30 premium to ship it here. Shedding these operations is going to help CLF.

  • Reply to

    How Low CLF SP Will Go...

    by vipinkot47 Dec 18, 2015 8:44 AM
    w999surf w999surf Dec 18, 2015 10:56 AM Flag

    My construction management business is taking more of my time, plus I need to spend my extra time working on my own home. So I don't have the time to be watching the market past 8 am Pacific time.

    On Mr. Gonclaves, his concern is not managing the stock price, it is on managing the company through these tough times. He is making good moves, just failing on communicating these moves to the market. I still believe in the long run his management will turn the stock price around.

    Now it is 7:56 and it has warmed up to 30 degrees, time to get to work. Have a good day.

TJX
69.65+1.84(+2.71%)Feb 9 4:01 PMEST