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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

Post by Mediawatcheron Nov 19, 2018 8:48am
124 Views
Post# 28993164

A sign of Leadership and Confidence

A sign of Leadership and ConfidenceHi All,

On my way to work this morning, I saw the following article in The Globe and Mail and thought for a moment that a CEO we knew was investing some serious money in his company shares that were yielding 11%:

https://www.theglobeandmail.com/investing/markets/inside-the-market/article-mondays-insider-report-ceo-invests-over-700000-in-this-security/

I mistakenly thought that Boynton had finally stepped up and demonstrated the kind of leadership you would expect from someone leading an organization and personally earning more than $2 million a year.  His first investment of $21,000 a couple of weeks ago was a disgrace and he should be embarrassed.  Better to have done nothing than to throw some loose change he found in his couch into the shares to demonstrate what I don't know? 

The example cited in The Globe is what you would more than expect from a newly appointed CEO.  Stock options, RSUs and DSUs are no substitute for demonstrating your commitment to the company and the plans you have put in place.  He has personally put nothing at risk and his substantial guaranteed salary and employment agreement ensure he will leave much richer for the experience at our expense. 

The fact that the Board, the Voting Trust and the rest of the senior management haven't invested a dime confirms my contempt for this gang of incompetents. They are all along for the ride and don't have any respect for the B shareholders.  Prem Watsa will remedy that situation when he cleans house.


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