RE:RE:Per call: will be producing 50 million FBM in Q3. I just cut myself off the call too halfway through but posted my notes as far in as I got.
It's all very positive, save for the one bone of contention I have.
Ken's getting the full court press about returning capital to shareholders. An NCIB would help but would not make this any less hairy and preclude the whole group of institutional who want cash, not some bozo arbitrarily deciding what to do on their behalf with their money. It comes down to a trust issue.
It sounds like clearly they will have a buy back in place by next Q, but I'd also be amazing if it was under $2 a share by then. Strike while the iron is hot guys - this should be approved already, and they can meter out fresh earnings as they accrue as suitable, for dips like freaking today,
Goddddam this is a maddening outfit. Have they never seen Norbord in action????? Like WTF is wrong with them and their plodding inability to execute in things like this? Put the thing in place and use it as needed. Kinda like a div -- call it variable and toggle accordingly, but don't just sit around and pontificate.
And Ken's deferral to "The Board" of which I presume is his legacy turf, is really between him and Charlie Miller. He is either King of that Castle or the 2nd in command. So he he can't point to an external boogieman for his inability to get this across the line. I'd wager he's still king as any now reigning monarch might have sent him packing.