Anti-trust is such a simple concept. Keep big companies from controlling markets and messing with consumers. Somehow, we have completely lost sight of that and turned anti-trust regulation into a math game. In pursuing a merger with Rio Tinto, BHP sure hopes the Europeans care about the math games than the reality of the iron [...]
Entries from May 2008
May 29, 2008
Simplot was a giant
J.R. Simplot, agribusiness giant, dies in Idaho
Simplot defined a major chunk of America as the french fry. He was the king of that food product and he did it at a time before today’s instant billions. His generation will be missed.
Maybe Twiggy can fill his shoes–Simplot the potato king to Twiggy the iron ore king.
May 29, 2008
The price of a real option on iron ore is $35 million
Marketwire: Mano signs agreements with Severstal for investment in Mano and funding to develop the Putu Range Iron Ore Project in Liberia
I doubt iron ore 100 km into the wilds of Liberia is very attractive by world standards, but if the price of iron ore hits and stays at $100 per tonne, the purchase by [...]
May 27, 2008
A decent tax credit: $2,500 for any car over 45 mpg
The New York Times: Running out of fuel, but not out of ideas
Okay,
Let’s start to solve the problem at the pump in the United States, and let’s do it with a very simple solution. If we offered a tax credit of $2,500 for any new car that got more than 45 miles per gallon (5.22 [...]
May 26, 2008
Twiggy, wait in line
theage.com.au: BHP delays date with regulators over Rio bid
“Fortescue Metals chief executive Andrew Forrest said this month his company would examine any iron ore assets made available if the BHP-Rio deal proceeded, but they would have to be more attractive than Fortescue’s internal investment opportunities.”
I think the Chinese, Xstrata, Anglo, and Teck are ahead of [...]
May 23, 2008
Rio, BHP, run for them hills–the bankers are here
MSN Money: OTC platform to offer iron ore access
What is a better recipe to blow up? Credit Suisse and Deutsche Bank are creating a derivative market based on a spot market that is under 20% of a seaborne market, which is only 1/2 the total world’s market. Let me go through that a bit better. [...]
May 22, 2008
Turn off the lights, sell the car, and start walking
The Wall Street Journal: Energy watchdog warns of oil production crunch
The sky is falling! We are finally at peak oil according to some people in Paris. It is amazing how these people are not going to get their report out till November, but as the market is going up they just have to get the [...]
May 21, 2008
Dear Sinosteel: We cannot make up our minds
Dear Sinosteel,
You are giving us lots of money, and we are giving you headaches, but do not worry. We will be gone in 4-8 weeks, and then you can fire us lock, stock, and barrel. We won’t mind because we are going to be rich, very rich. By the way, sorry about the Australian press [...]
