Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Rio Reacts

News from Rio Tinto that they are planning to cut 14,000 jobs worldwide and reduce capital spending. Mining companies are familiar with crushing changes in their business fundamentals and they tend to react quickly.

The laws of supply and demand are still in effect out in the "hard assets" universe. No word on whether management has flown to Washington looking for handouts.