GREY:FTPLF - Post by User
Post by
mr1derfulon Oct 30, 2013 12:44pm
210 Views
Post# 21862177
Chad's Retirement
Chad's RetirementTake it with a grain of salt the interview with Chad where he says he wants to retire to Bermuda or Palm Springs because of a heavy workload. I'm sure if things were going well at Fortress he wouldn't be saying such things. The reality is there is a very strong likelihood that China will impose import duties on dp. If his happens then Thurso and Fortress are in huge trouble. Perhaps Chad's retirement talk is a way for him to gracefully exit the business and then start a new business in a few years. Let's face it...Chad completely miscalculated the effects that high dp prices a few years ago would have on the avalanche of new supply to hit the marke todayt. In fairness to Chad he thought he was doing the prudent thing when he had hedges in place to protect his lower end of dp price realizations for Thurso. It wasn't his fault the Chinese didn't honor the contracts.