With a pile of 300 résumés on his desk and a need to pick someone quickly, my boss told me to make calls on the bottom 50 and toss the rest.
"Throw away 250 résumés?" I asked, shocked.
"What if the best candidates are in there?"
"You have a point," he said. "But then again, I don't need people with bad luck here."
- Becky Horowitz (Reader's digest)
Friday, February 16, 2007
Saturday, February 10, 2007
Here's my analysis
UBS + Goldman Sachs: Had bought 11 percent of Corus before they pushed CSN into the bidding game.(think 0.11*11 billion *(609-455)/455 dollars ) **
CSN: had 36 million of Corus Shares. Put in a bid of 475 pence per share (and did due diligence later, can you belive it, did it get ponied by the bankers or it believed Tata would outbid it anyway)
Corus and its other shareholders: Obvious Reasons
Indian Politicians: Blowing their own trumpet
What does India (or Indian industry) gain through this publicity? Would investors be more willing to invest in India after this?
Potential Dark Horse
Got screwed ??
Yes, but it had already decided to build up capacity. Think industry dynamics (consolidation, pricing power) Paid $700 per tonne of production capacity. Would have needed double that amount to build (unless what I read was wrong, some say PV of expanding to that capacity to be $2000)
There can be only one loser . (unless the industry consolidation wipes out smaller players) But fingers crossed?
** 400+ million dollars