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Message: Now what with Cliffs?

Tidal P

It would be a top-down approach, since there is no other way.

1. Elect Chairman of the Board (Casablanca nominee). If I got it right, if there is a tie vote, say 5 to 5, then the Chair would cast his tie-breaker vote. The new board is controlled by Casablanca.

2. Board appoints new CEO, this could be done at the same meeting for 1 above. In fact the frist 2 items could be done in 5 minutes.

3. new CEO unveils top level management: COO (this person would be given the job to propose a strategic plant the CEO, indicating what to keep as core business and what to divest), CFO, VPs (reduce the number), Director of Communications. The old guards will be kept around for a few days to provide business continuity. Along with the unveiling of the new team, the CEO gives a speech to calm the water in the business community, and to send a message to calm the nerves of lower level staff, especially technical staff. He does not have to worry about politically-oriented staff, they have already jumped ship.

All above items could be done in about 3 days, or to be a bit more generous, one week.

goldhunter

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