Cliffs

[Darryl]

Hedge fund made retail investors and funds nervous, and many bailed out in a down trend in a traditional cyclical industry.

[Guest]

It is sad to watch Cliffs get torn apart by a Hedge Fund! I

From what I've read, I'd say the hedge fund took action to save the company from insolvency. The old management expanded too fast, took on too much debt and left the company vulnerable when ore prices inevitably dropped. It sounds like all the scaling back and restructuring may not be enough to save the company but time will tell. They're smart to concentrate on their Great Lake assets which are close to their market and enjoy lower transportation costs.

[Grizzly]

They did the same thing Oglebay Norton did by over extending themselves and spreading too thin. They screwed themselves way before they were taken over. North American assets are still making money do they should be safe. At least that is the talk around here. (North Shore)

[mopar tim]

Very sad indeed. The once mighty Cliffs Company deserves better. After reading the article in the News page it doesn't look good for Cliffs at all very sad news.

[ebs]

It is sad to watch Cliffs get torn apart by a Hedge Fund! I