Stelco Holdings Inc T.STLC

RE:RE:wtf is going in on

[geosan0]

I am new on this thread but let me first say that the comments posted in the last few days are all warranted and very reasoned.

I was so disturbed by the negative STLC news coverage on sites like BNN that I wrote to the company.  All I have received in response is crickets!!!!

The issue I raised has been repeated here on numerous posts:
-negative connotation of pulling the debt financing with no reason other than market conditions;
-strong financial condition of the company as evidenced by their financial statements; etc.

I felt that because this company was previously in bankruptcy that pulling a debt financing is akin to announcing to the world that your company is heading there again, even if not true (perception is stronger than reality in today's environment).  Accordingly, I felt that the company should issue a statement to dissuade this type of thinking.  Again, crickets!!!!

Being what I believed to be a smart management team, I cannot believe of the amateurish manner in which they approached this issue and the self inflicted damage they caused.

Not canvassing the market interest prior to announcing this debt financing is inexcusable and as far as I'm concerned something that someone needs to lose their job over. 

Junk rating with a 9% coupon and someone thinking that this would be a good idea in today's environment should not be employed in finance, PERIOD!!!!

I cannot imagine any retail investor stepping in to support this stock (falling knife) given the history of this company and the lack of financial acumen at this company.

Final thought:  Not sure how I would have felt if they had actually succeeded in selling 9% debt securities when Denmark is offering mortgages at NEGATIVE interest rates!!!!

Good luck from a former shareholder!!!!