It is actually $109.2 million but what's $9.2 million when you talk Billions.
|Another addition to BlueScope.|
- The first information of this spend was bought about by this comment below from obviously a Fielders current employee who is not particularly happy. But they will be looked after by Fielders after receiving $87.5 million for Fielders, but there's more, you also get Orrcon thrown in for free. Or is it the other way round. Which ever is the case, Hills picked up a lazy $87.5 million for their steel business in the form of Fielders and Orrcon and shareholders loved it, finally Ted Pretty has Hills under control and shares jumped to $1.435 (over 11%). AnonymousMonday, August 19, 2013Fielders have sold to Bluescope! Surely this breaches the monopoly laws, how can they get away with that. Meanwhile Fielders expects all its staff to stay loyal while they probably make plans to sack us all and close us down by January 2014. The loyalty all of the workers have given to Fielders in the end meant nothing, we all got shafted
- Item 1 was for $87.5 million for two of Hills steel business modules, but where is the other $21.7 million from. Well that's for the nine executives as per the following: The chief executive, Paul O’Malley received a salary package totalling a handy $5.1 million in the year to June, up from $2.8 million a year earlier. As well, the board decided that after a three year freeze on his base-pay, the board has agreed to a 3 per cent rise. Between them the top nine executives pocketed $21.7 million, up from $16.4 million a year earlier.
This is for BlueScope Shareholders:
BlueScope shares plunged more than 12 per cent today after the steelmaker posted a sharply lower year to June net loss of $84.1 million as redundancy and restructuring charges declined. That compares to its $1.04 billion loss in 2011-12.The reason for a $109.2 million spend is..... well for one they picked up two steel businesses for the price of less than one. Maybe the purchase will yield results, especially when they control one more rollformer for their BlueScope product.
BlueScope shares were 12.6 per cent lower at $4.79 in afternoon trade.
Who knows what September the 7th will bring?
I was going to place a photo of Paul O'Malley and an Australian Prime Minister here, but all I could find was photos of Paul in Asia and USA. Well at least they are making profit over there. How long before BlueScope is listed on an Asian stock exchange?