Stelco Ticker...and Interesting Information

New Stelco stock here. Read this story on Stelco's value and reasoning behind the share price jump.

More bad news on Nortel here. Things will pick up.

Nice to see Vincor gain the value I predicted, on Constellation takeover. See previous posts.

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Stelco Back in the Game

Now that Stelco has come out of bankruptcy, shares will be available for $5.50...this would be one of the IPOs to be sure to miss. The pressure on Stelco (note - Stelco won't be Stelco...maybe we need a symbol that represents the company formally known as Stelco - sort of like what Prince did...) to make money will be intense. Rodney Mott coming aboard will not do the company any favours, as his "success" with ISG was with bankrupt companies that had their unions give up wages and pensions, in order to make ISG attractive for Mittal. Do I think he can do it here? Not a chance. All along, the unions should have given up something, to help the company out. Since they didn't, look for losses towards the end of the year, if not the first full quarter reporting as the "company formally known as Stelco".

Starting out at $5.50, the shares will drop when Q1 2006 results come out, making the major owners want to sell off the business units to hedge their investments. Keep in mind too, that Stelco won't be paying any dividends for the next 10 years, if they don't shut down again under heavy debt and obligations.

I'll post the ticker symbol when its available. If you want steel stock, stick with Corus or AK.