"I would suggest you go back and listen to the audio presentation ( quicktunes download the audio for those looking for a server) The conversation about Cliffs

had to do with The feasabily of a market for chrome,As per Pauls statements

He felt that the market for chrome was Europeand Asia and Cliffs was more

focussed on the North American markert."

Which, I would submit, would result in the same bottom line, that Cliffs would not likely be a target company to involve in the future as NOT would have their own ideas about who would be desireable players/directions for them. Although I underlined the competitive tone, it was not intended to be a negative comment, as I likewise feel the presentation was about forward movement.