is albanese capable of rational thought?

As a broker for some years I am generally not surprised by the avarice and greed displayed by those running "public" companies.

It is eident that the way Tom Albanese has managed Rio Tinto over the past two years is purelly to maintain his position. He took on a hugh debt in Alcan as a blocking move to others. This is the first time we're been outdone by the Canadians since the Montreal Olympics. He then refuses a fantastic offer by BHP, which was surelly in the shareholders interests. Now he is looking to get into bed with a state run Chinese company, who are openly discussing "the benefits of destroying the Iron Ore duopoly".

Either way now if the deal goes ahead the Chinese will eat away at the company form the inside- with the takeover premium removed. If the deal doesn't go ahead a rights issue will push the share price into the 30's.

Rio shareholders have paid a high price for this man to keep his job.

Sell