Don't buy Freeport McMoran Copper and...

Don't buy Freeport McMoran Copper and Gold stock - FMX

Posted in the Morenci Forum


Florence, AL

#1 Mar 12, 2009
How can we trust anything that a company responsible for the deaths of millions of children says? Freeport McMoran Copper and Gold is one step away from being kicked out of the DRC in Africa and their days are numbered in Indonesia. When one or the other comes to fruition, stock values will plummet. Take notice of the $70.00 dollar decline in stock value in the last seven months. Just because we have seen a mild surge in FMX stock over the last month, does not indicate a rebound? What we are experiencing now is similar to the housing boom. Freeport McMoran Copper and Gold cut off the head's of their employees to reduce operations costs, just as the banks fed money in to bad loans which resulted in the housing boom. As is the financial instance with the banking industry, so will be the instance with Freeport McMoran Copper and Gold. Their day is coming. Management has not changed. The same management that got them in to this mess is still present. Remember, their CEO Richard Adkerson is still drawing 70M a year in salary. He did not take a pay cut. What do you think will happen when the severance money runs out for the 2,000 people they laid off? What do you think will happen when some of those 2,000 people start telling the EPA where the bodies are buried? Bail out now.

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