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Tenaris ADR Rep 2 Ord Shs T.TS.B


Primary Symbol: TS

Tenaris S.A. is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products. It operates in geographical areas, such as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Its products and services include OCTG, Premium Connections, Rig Direct, Offshore Line Pipe, Onshore Line Pipe, Hydrocarbon Processing, Power Generation, Sucker Rods, Coiled Tubing, Industrial and Mechanical, and Automotive.


NYSE:TS - Post by User

Comment by Mediawatcheron May 11, 2017 4:17pm
81 Views
Post# 26233569

RE:RE:RE:brief musings

RE:RE:RE:brief musingsSvengali (JH)has managed to fool the Voting Trust for years and that speaks to the intelligence of the members..  Hard to understand why they have stood back and watched their fortunes dissipate from more than $425 million to $21 million as of today.  They should all be collectively sick or enraged at the gross mismanagement of their fortune (a 95% loss) with no sign of any relief.  Who sits back and watches this happen?

No retail B shareholders will support the Voting Trust as the leadership has no coherent plan or strategy to create value.  Fairfax has an operating plan otherwise they wouldn't have purchased 27.4% of the B shares.  The problem they clearly hadn't fully anticipated was how to wrestle control from Svengali.  They probably thought a reasonably generous offer with some provisions to protect the Atkinson Principles would seal the deal.  A mistake to assume you were dealing with a rational decision-maker.

As for the movie concept - MobyDick might be what the Voting Trust ends up with if they don't start acting in their best interests and Captain Ahab (Prem Watsa) at this stage is their only salvation.  Opening in theatres across the GTA...
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