RE: RE: RE: RE: RE: trading is warfarethese are great points nova, and I couldnt agree more.
I have seen it first hand. The MBA degree is losing much respect for this exact reason, and many are a laughing stock. Many MBAs in mining are the type of engineer who couldnt hack it in operations. Many engineers, who typically are groomed and selected to run successful mining companies, get put out in the field at mines straight out of graduating to test their "medal."
Some are succesful, however, many are "pencilneck", "antisocial" or "know it all types" that cant stand up for themselves or garner the respect they need to succeed, and learn the business where it matters - IN OPERATIONS.
these are typically the types who go back to school for masters degrees, MBAs or go into banking / investing and the like. Guess which type of Mining engineer DL is? he didnt tough it out too long iron mines of eastern canada.
Ask any employee of teck (who doesnt work at head office), especially the long term ones - they are disgusted with upper management, and not just for financial reasons either, its mismanagement of the worst kind, the kind where armchair guys call the shots from afar, and do not respect the knowledge and opinions of the senior operators who actually build and operate these mines and know what the ^&(* they are talking about.
I know for a fact that the sr operators in teck, "screamed" NO to galore creek (HVC guys who know big low grade copper like the back of the hand), buying back Aur for 20 times more than they had sold it for 4 yrs previous, the FDg acquisition price, and even the disastrous diamond mine foray. I have personal friends who were sent up to the failing jericho mine for DD, and came back with a "clear and absolute NO WAY", only to have teck announce a 120 M investment there 3 weeks later. They now have a guy in charge of HVC (from van head office) that has been one of teck flagship cash flow mines, who is young, inexeprienced, is an underground guy that's totally different from open pit, trying to tell 30 and 40 year guys what to do there, and he is a laughing stock and is getting no respect. Culture, loyalty and efficiency at this operations have all become grossly eroded because of such actions.
This is where teck is headed, and a glimpse of what the future holds in store. Good luck.