Good Grief Batman
posted on
Nov 08, 2008 06:59AM
Just reviewing the weekend papers with my morning coffee.
Wow what an ugly market. Just looked at some of our peers and their prices and I guess were not too bad off IMO. NOT @ $.73, MNB @ $1.20, even TCM @ $4.24 (and that's with good earnings). Even CS with good earnings @ $1.15! I guess steelmills around the world are now shutting down with those lousy car sales.
The good news for ISM'ers, lots of cash, low expenditures, no major capital commitments. All this with 3 drills still spinning. Wonder if those drillers are willing to work for less now. ISM may be a good place to hide and wait for the tide to come back. Hope that's just a year away or so.