Anglo in trouble

[BigAl-sa]

Johannesburg - Anglo American suspended dividend payments and announced plans to cut 19 000 jobs and scale back production as its debt ballooned by nearly $6bn in 2008 and the outlook for commodities "remains poor", one of the world's largest resources companies said on Friday.

http://www.fin24.com/articles/defau...icleId=1518-24_2473274&IsColumnistStory=False

and it's taken the market down too. Down almost 4% at the mo.

 

[Pitbull]

BUY BUY BUY !!!!!

Anglo is the strongst Mining operator in SA. They will bounce back, just when is everyones guess.

 

[marine1]

Supergroup as well, lost 300 mill or something like that

 

[TheShogun]

Supergroup as well, lost 300 mill or something like that

Except that Super Group sucks balls and haven't had a strong share price in quite some time.

I did some work for them internally and after seeing how they operate I'm suprised they make any money at all.

 

[lsuacner]

I work for Anglo. We are doing well. I have inside financial knowledge.

Is hectic because you work with ppl earning nothing facing death every day and professionals (Engineers, Accountants, Geologists) who are highly qualified. I often find my job crazy and insane, but I wouldn't want to work for a bank or audit firm.

 

[lsuacner]

Supergroup as well, lost 300 mill or something like that

300 million what? Zim dollars?

 

[BigAl-sa]

I work for Anglo. We are doing well. I have inside financial knowledge.

Well, if they are doing so well, why are they laying off 19000 and suspending dividend payments?

 

[PeterCH]

Well, if they are doing so well, why are they laying off 19000 and suspending dividend payments?

Back in 1940 the French also made tactical wins against the Germans by withdrawing, ... all the way to Calais, but they called these withdrawals, advances.

 

[DJ...]

I work for Anglo. We are doing well. I have inside financial knowledge.

Careful what you post - this borders on insider trading if this financial knowledge isn't already in the public domain...