The Rising Influence of Rising Affluence

[Democritus_of_Abdera]

Re: Addition of Sullivan to CLF Board....

CLF announced the appointment of Timothy Sullivan as an independent member of the Board of Directors yesterday (see: http://www.sec.gov/Archives/edgar/data/764065/000129993312002678/exhibit1.htm ).

IMO this appointment adds to the credibility of Dew's often stated buyout VIG associated with Cliff stock (e.g. #msg-80894013 ).

As I read the PR, Sullivan represents CCMP Capital, albeit he might have been appointed based upon his substantial credentials in the mining business. Sullivan was the CEO of Bucyrus when it was sold to Catepillar last year.

From CCMP's homepage ( http://www.ccmpcapital.com/AboutUs1 ):

CCMP Capital is a global private equity firm specializing in buyout and growth equity investments in the U.S. and Europe in four targeted industries. In partnership with exceptional management teams, we leverage the combined strengths of our proprietary operating resources and deep industry expertise to drive company growth and operational efficiency.

The name CCMP reflects the firm’s heritage organizations:

Chemical Ventures
Chase Capital
Manufacturers Hanover Capital/J.P. Morgan
Partners

CCMP Capital commenced operations as an independent firm in August 2006. The firm's investment professionals continue to manage the private equity portfolio of J.P. Morgan Partners.