CLF cuts dividend 76% to $0.60/sh—issues common and convertible-preferred shares: http://finance.yahoo.com/news/cliffs-natural-resources-inc-reports-210100775.html http://finance.yahoo.com/news/cliffs-natural-resources-inc-announces-213300643.html Not what the market wanted, obviously. I’ll have more to say after tomorrow’s 4Q12 CC.