Thanks for posting Irish.
So, we recently had this...
http://seekingalpha.com/article/1959471-cliffs-natural-resources-how-far-will-it-fall?source=google_news
"Cliffs Natural Resources (CLF) was down again on Tuesday, January 21st, "mostly due to the report from Goldman Sachs"
then,
this Casablanca company formed in 2010 ..acquires over 5% of Cliffs and puts out a letter to Cliffs stating this....
Divest Infrastructure and Other Non-Core Assets
"Cliffs has a vast portfolio of non-core assets that are a distraction and burden its balance sheet. The nickel, chromite and other development projects should be divested. We also see no reason why the company should own railroads, a power plant or port assets. We believe these assets are attractive to infrastructure-oriented investors and specialized strategic acquirers who would value them more highly and are likely to run them better. Where it makes sense to do so, Cliffs could maintain ownership benefits through appropriately structured contracts with a buyer."
wow...makes you think.
A lot can be discussed over drinks.
http://www.businessweek.com/stories/2008-01-23/winning-the-subprime-bet
Fink and several Street luminaries—including Lazard (LAZ) Vice-Chairman Donald G. Drapkin and Goldman Sachs banker Thomas E. Tuft—as well as Ann Colgin, who owns Napa's Colgin Cellars, hold regular wine events in which each guest brings a bottle. After a blind tasting, the person with the worst offering has to pay for dinner. Fink also owns, with Drapkin and others, Octone Records (label of the rock band Maroon 5), a jewelry store in Aspen, and a skating rink in Hackensack, N.J.
======================================
Profile
Donald G. Drapkin, Director of the Company since March 3, 2011. Founder and Chairman of Casablanca Capital, LLC since 2010. Vice Chairman of Lazard International, a global advisory investment bank, and Chairman of Lazard's Investment Committee from 2007 to 2010. Vice Chairman of MacAndrews & Forbes Holdings, Inc., a holding company with interests in a diversified portfolio of public and private companies, and various of its affiliates from 1987 to 2007. Previously a partner in the law firm of Skadden, Arps, Slate, Meagher & Flom, LLP. Mr. Drapkin is also a member of the American Bar Association and the New York City Bar Association
