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Aug 14, 2009 19:57 GMT-6	#41
LARRYBOY Points: 265 Join Date: Apr 10, 2009 Status: Offline	Sounds like to me that whatever is in the wallets have become worthless and thrown away.

Aug 14, 2009 21:50 GMT-6	#42
MARRIE Points: 2648 Join Date: Jan 7, 2008 Status: Online	Larryboy, Bobert is a businees man. Compromise and Going with the profitability is a wise choice. However, these four employees will be conviced no matter how excellent attorneys they are going to hire to defend against the charges.

Aug 15, 2009 03:06 GMT-6	#43
BOBERT Points: 600 Join Date: Jan 1, 2009 Status: Offline	Marrie, I am not a businessman. I am a retired firefighter. I enjoy investing in the stock market so I follow related events closely. I have no doubt the four RIO TINTO executives will be convicted as you say. Once charged, that was always a foregone conclusion. The fact that there is no evidence will in no way hamper their convictions. Such is the Chinese legal system. However, I also have no doubt that these convictions will have a severly detrimental effect on Chinas ambitions of controlling more Australian resource companies. For China, it will be a very pyrrhic victory.

Aug 15, 2009 21:19 GMT-6	#44
MARRIE Points: 2648 Join Date: Jan 7, 2008 Status: Online	I guess Stern Hu's personal assets earned from his actitivities in China during the last 6 years can build up himself a small mining co. in Australia or enable himself to become a big shareholder somewhere. He will be enforced to leave China. However, as an ordinary immigrant, Stern Hu is not a loser at all.

Aug 15, 2009 23:08 GMT-6	#45
BOBERT Points: 600 Join Date: Jan 1, 2009 Status: Offline	Marrie, once again you are assuming, without any evidence whatsoever because to date none has been produced, that Stern Hu is guilty and has accumulated vast ill-gotten gains. I doubt any evidence, other than hearsay, will ever be forthcoming. Stern Hu will return to Australia and continue his employment as an executive with RIO TINTO unless his Chinese conviction would stand under Australian law. That is highly unlikely to be the case. Stern Hu is nothing more than a pawn in a high stakes game of bluff. He is being used as a scapegoat for the Chinese governments crackdown on the Chinese steel industries past nefarious activities. Stern Hu has been imprisoned for six weeks already. If convicted, (sorry, WHEN convicted) he faces three to seven more years of incarceration. I think he would consider having his freedom taken from him qualified him as a loser. I wonder how you would feel languishing in a Chinese prison for a crime you did not commit. Would you feel like a loser?

Aug 16, 2009 14:22 GMT-6	#46
MARRIE Points: 2648 Join Date: Jan 7, 2008 Status: Online	Bob, I did not say that Stern Hu was guilty that he earned his wealth from a scratch in China as a sales agent for Rio Tinto for the last six years. That is his good luck and talents. Irregularities, corruptions and speculations have existed and rotten the system in this industry. The government has not determined to strengthen the disciplines until then when they loosed the huge deal with Rio Tinto which is reflect in that fact that the counterparts from Rio Tinto has already known how many cards Chinese has and what they are BEFORE the Chinese negotiators open their mouth at the bargaining table. Is that fair? Rob, I agree with you on that Stern Hu is a scapegoat in a high risky game where scapegoats end up with being killed in a car accident, being disappeared mysteriously or committing suicide in basement, which happens in the west as well. The maximum period for Stern Hu stays behind the bar is seven years. How many 7 years has left for the rest of his life. I am assuming he is a steel-willed man (normally speaking, people who is able to play high stake game is extraordinarily strong mentally and physically ) who is able to resume his previous career after he says good bye to prison. The other assumption is that he plans to retire and enjoy comfortable life with his huge wealth accumulated in China. M>

Aug 16, 2009 17:49 GMT-6	#47
BOBERT Points: 600 Join Date: Jan 1, 2009 Status: Offline	Marrie; "Is that fair?" Yes, I believe your comment is fair. I think we are at last in agreement.

Aug 16, 2009 18:26 GMT-6	#48
BOBERT Points: 600 Join Date: Jan 1, 2009 Status: Offline	Marie, read this and you will know the truth about what Stern Hu did, and did not do. http://business.theage.com.au/business/rios-market-intelligence-iron-edge-over-china-20090816-emel.html?page=1 http://business.theage.com.au/business/rios-market-intelligence-iron-edge-over-china-20090816-emel.html?page=2

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