The Rising Influence of Rising Affluence

[Democritus_of_Abdera]

Re: today's CLF stock price action...

Dew, you might be right in attributing the 7% rise of CLF stock to expectations concerning the outcome of the proxy fight... But, if factors that affect my attitudes concerning day-to-day CLF stock values are any guide, then I would attribute the positive movement to the possibility of a sale of the Wabush Scully Mine, an asset that I had thought to be dead weight.

See http://www.vocm.com/newsarticle.asp?mn=2&id=47888&latest=1 (Posted July 25 2014 2:39:29 PM)

Cliffs Natural Resources is not commenting on a report that the union at Wabush Mines has reached a five year agreement to work for MFC Industrial if that company purchases the Scully Mine.

The mine was idled in February. Cliffs says discussions are continuing with MFC Industrial and there is optimism a deal can be reached before the shareholders' meeting on Tuesday, but it's still too early to say for certain.

Attempts to reach the Steelworkers Union on reports a labour deal has been struck with MFC Industrial have been unsuccessful so far.

And, http://www.cbc.ca/news/canada/newfoundland-labrador/union-agrees-to-5-year-contract-to-work-if-wabush-mines-sold-to-mfc-1.2717262 (Posted: Jul 24, 2014 5:36 PM NT)

Union employees at Wabush Mines have told CBC News they've agreed to a 5-year contract on Thursday to work for MFC Industrial if the company ends up purchasing the idled iron-ore operation.