Forum Archive Index - August 2002

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Re: [sharechat] FFS & CNIF - Same Old Emotional Tripe

From:	"Malcolm Cameron" <malharcameron@hotmail.com>
Date:	Sat, 17 Aug 2002 11:09:59 +1000

Jim start thinking. The banks don't lose if Citic buys CNIP through FFS only 
poor mug FFS shareholders. IMHO This is Citic's way of operating. Anything 
it can do to lose value untill it can buy it for practicaly nothing. Why did 
it not keep CNIP out of recievership buy recapitalizing in conjunction with 
FFS, no profit that way. Once you are major shareholder and you control the 
market you control the whole company.
Malcolm

>From: "Jim McMillan" <seechoke@hotmail.com>
>Reply-To: sharechat@sharechat.co.nz
>To: sharechat@sharechat.co.nz
>Subject: [sharechat] FFS & CNIF - Same Old Emotional Tripe
>Date: Fri, 16 Aug 2002 23:15:54 +0000
>
>Malcolm - according to your argument, there is every logic for China to 
>stop buying logs now as CNIF is already broke and will become broker still 
>without China. Cash flow and income dry up and Citic, being the only game 
>in town with $, buys the asset cheap.
>
>Why go thru' the convoluted FFS/CNIF/US$200m deal? If you think 
>shareholders and the banks are that stupid to sell FFS to Citic at 1 cent 
>after China stops buying logs, they surely must be just as stupid now to 
>sell to Citic for 1 cent as well if China stops buying NOW.
>
>Have you ever spared a thought here that maybe, just maybe it's FFS at 
>fault here in the whole sorry CNIF saga? Afterall, FFS's directors and 
>management have been a bunch of idiots, right?
>
>
>
>
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