RE:RE:RE:RE:Ridley island revenue of 500 million
When revenues double and you achieve an operating loss, you can argue that they don't have a revenue problem as much as a cost control problem. You can bet that marching orders have gone out stating that only necessary expenses will be approved and they are seeking at least an immediate 10% - 15% cut in these. Also all new capital spending will be deferred by at leasst 6 months. Salary increases will be minimized for a year and some will be down sized. They need a strong operations person such as Hunter Harrison to do what he did at CP. Not all CEO's have that capability or understanding of operations. I've been through this scenario twice with majors. They could reduce opex in my opinion by $50-$100m/yr.. They better get a high level hit team together ASAP to direct this.