I just feel sorry for Australia - where a company with a highly profitable business and another one with break even situation goes to VA. It is not a great time to have 8000 job losses. It would be very difficult to rehabilitate these people. I have lost 15K on this share but people in Adelaide have lost more.
My thoughts are with them. I hope that the leaders go above politics, bulldoze their way through to fix steel manufacturing issues and help this iconic company to get back on its feet.
About management - there is no point talking about these shameless, thick skin and arrogant people who couldn't even sell Moly Crop when 8 parties approached to snatch it for a relatively good price.
No wonder manufacturing doesn't survive in Australia - because we lack skills to run manufacturing business. Look at Ford, Holden, Toyota, Steel...
ARI Price at posting:
2.2¢ Sentiment: Hold Disclosure: Held